TITLE ~ws THE OFFICIAL PUBLICATION OF THE AMERICAN LAND TITLE ASSOCIATION 3

SEPTEMBER, 1966 A MESSAGE FROM THE CHAIRMAN OF THE TITLE INSURANCE SECTION

September, 1966

Once more I am indebted to our President for allowing me to use this space to tell you about some of the plans for the Annual Conven­ tion at Miami Beach, October 16th to the 20th. The workshop sessions, all of them, are shaping up as among the best we have ever had. At 2 :00 P.M., October 17th, there will be three of these, one on "Joint Title Plant Operation" moderated by Bob Haines, the second on "Errors and Omissions Insured Coverage" moderated by Past President George Harbert, and the third, at long last, brings the young generation of title men to the front in a panel discussion on "Youth Looks at a Venerable Profession" moderated by Jack Rattikin, Jr. At 3 :00 P.M., on the same day, Percy I. Hop­ kins, Jr., will moderate a panel discussion on "Abstracters, Title In­ surance Agents and Bar Funds". On Wednesday, October 18th at 2 :00 P.M., Andrew S. Boyce, of the Small Business Administration will moderate a management problems seminar, and Bob Kratovil will moderate a panel discussion on "Affirmative Insurance and Its Pitfalls" and at 3 :00 P.M. there will be a "Government Potpourri" moderated by Gordon Smith and consisting of discussion on governmental requirements as seen by Leonard Tambor, Acting Rehabilitation Loan and Grant Officer of HUD; A. M. Prothro, General Counsel of FHA and Colonel Robert Reed, General Counsel of FNMA. All of the above will be in addition to a great lineup of speakers and a magnificent social calendar. It seems that great planning will be required to "catch" all of the "action", so get your reservations in and, as they say in the airlines ad "Come on down" TITLE NEWS THE OFFICIAL PUBLICATION OF THE AMERICAN LAND TITLE ASSOCIATION

EDlTORIAL OFFICE: Premier Bldg., 17 25 Eye St., N.W., Washington, D.C. 20006 296-3671 FEATURES: Escrow Closings and Disbursements 2

More About the Annual Convention 12

DEPARTMENTS: A Message from the Chairman of the Title Insurance Section Inside front cover

State Association Corner:

Idaho 8

New Jersey 9

Dear Dicky 10

In the News 18

Meeting Timetable Inside back cover

ON THE COVER: VOLUME XLV The lovely lady on t he cover of this issue of Title News is Miss NUMBER 9 Bonnie Mut·ray, a distinguished and talented entertainer. Miss 1966 Murray will appeal' on the program of entertainment sponsored by Howard Lanin and his orchestra at the Annual Banquet Wednesday evening, October 19, (see page 12 ).

Page 1 ESCROW CLOSINGS AND DISBURSEMENTS

By Roger K. Boothe, Kansas City Title Insurance Company Given May 13, 1965, Title School, University of Missouri, sponsored by Missouri Land Title Association.

e in the title business, who the business sophistication of the W initially are sought to com­ people involved, and, in my office, pile the evidence of the status of it is a typical application that we title of real estate which is the are also requested to perform some subject of some transaction, find type of escrow duties, and it is a ourselves increasingly under re­ rare transaction that is closed quest to also act as a middle-man without someone acting for all to the transaction or that is, as an parties in the distribution of vari­ escrow agent. I notice that in all ous instruments and money in­ sections of the country where I volved. And so, since we often find have had occasion to process title ourselves in the middle of a trans­ insurance applications that the action, acting as escrow agent for several parties engaged in the all parties, I think it is well to transactions are becoming less in­ pause at times and examine the clined to deal directly with one duties and obligations we under­ another, but increasingly seem to take, contemplate on what difficul­ prefer to handle the transaction ties and problems will be encoun­ through a third party arrange­ tered, forsee what sort of trouble­ ment. This is true, notwithstanding some situations an escrow agent the size of the transaction, or can get himself into, and construct Page 2 a program and practice to keep criticism upon your request that ourselves from getting into such something be done in a proper trouble. way. They become impatient if it Now, when one reviews over the slows the transaction down, and several rules relating to the proper delays closing. They become indig­ handling of an escrow, he is in­ nant if they get the feeling that clined to think them pretty sticky, you may not trust them very and, when considered against a much, which you may not! There practical situation, perhaps a bit is really no answer to this other unrealistic. In this regard, I wish than developing a strong set of to make clear that I have not come emotional shoulders, but, I do find here with the intent of insisting that one response that goes as far upon any inflexible set of rules or as any in mollifying them is that standards to be applied to all cases they came to you with their trans­ of escrow closings in which we will action to insure that it would be find ourselves involved. Practices, handled properly, and that that is be they escrow or other, differ as what you are trying to do. to locale, and, even in a given Well, to get into a discussion locale, differ as to what customer about the handling of an escrow is involved. However, I think that, transaction, we should first ask while a set of standards by neces­ "what is an escrow?" And, right sity will be varied from place to away, we find ourselves in an ar­ place, and from transaction to gument with the purists. They transaction, that still we should point to the legal definition of the know just what these standards term, and show that it defines an are, so that if in some case a "escrow" as a written instrument, variation becomes appropriate, we a deed, mortgage or other written can feel at least that we are engagement, that is delivered to a making an "intelligent variation", third party, with instructions for that is, knowing the rule we are him to deliver it to yet another varying from, why it is being done party upon the performance or in this particular case, and have fulfillment of some condition. satisfied ourselves that it will be From this definition, we see that safe in this instance. the deed or instrument itself while On the other hand, I would urge being held by the third party that to all possible extent, we ad­ awaiting performance of the con­ here to the proper practices in the dition is the escrow. But in actual handling of our escrow transac­ practice and usage, the term "es­ tions. These practices, after all, are crow" has devolved to mean, not for our own protection, and for the the instrument that is delivered to protection of the people who have a third party, but rather the whole placed their transaction in our arrangement, under which the hands for exactly that purpose. third party is selected by the Those of you who have not previ­ parties actively interested in the ously handled escrow closing, but transaction (buyers, sellers, lend­ will in the future, will find, virtu­ ers) to collect from all parties to ally every time, that customers are the transaction whatever each is capable of offering substantial to supply (money, items, written Page 3 instrument), and, at the proper benefit-and what should their time, distribute them appropri­ benefits be? ately. This meaning of the term I believe that one over-riding "escrow" as such an arrangement reason, and a very valid one, I has become established, common­ might add, why the average per­ place, and well understood, and I son seeks the services of an es­ think it entirely practical and crow agent, is because he realizes proper to use it in this sense in that he little knows or understands our day to day business dealings. the machinery of a real estate I think that we can all see that transaction, and wants it to be an escrow can be arranged for supervised by some disinterested many different types of transac­ person who does. We in this busi­ tions, be in a sale of or loan on ness can all concur, I am sure, in real estate, or an exchange of se­ the observation that people gener­ curities, etc. One common form of ally have at best a foggy, vague escrow that comes to my mind, idea of what real property prac­ which to me affords a very basic tices, procedure and law consist of. and simple example of the idea of An abstract is something that is an escrow, is that of a betting put in a cabinet or deposit box, arrangement. That is, Mr. Smith and almost forgotten. The term bets that the Yankees will take "fee simple absolute" makes no the series within five games. Mr. sense whatever to them, and, why Brown bets that they will not. The would it? Real property is a spe­ two deposit their wages with Mr. cialized field, and they make no Jones, who is to hold the money true pretense that it is theirs. But until one of three possible condi­ still, it is often by far the most tions first occurs, that is: (1) the expensive and large scale transac­ Yankees win the series within the tion of their lives. And so, im­ first five games, (2) the National pressed by what they find they do League wins the series within the not know, and uneasy about the first five games or (3) five games large proportion of their personal go by with the series yet unde­ wealth that is involved, they come cided, at which time the escrow to us, relying upon us to get the agent Mr. Jones releases the full job done correctly. escrow deposit to the winner. But Another reason why an escrow we here deal in real estate trans­ arrangement is sought is because actions, and so I will here limit of what I call the "merchantile dis­ this discussion to escrows involv­ trust" present in the usual arms­ ing our customers' real estate length transaction between strang­ which present different problems ers. In the case of a sale, for than securities exchanges, and, at instance, the seller does not want least presumably, are more legiti­ to surrender his deed directly to mate than gambling! the buyer until he gets his money­ Next, I think we should ask and the buyer does not want to "why is an escrow?" I mentioned release his money to the seller previously that their use seems to until he gets his deed. While con­ be on the increase-but what do ceivably the two could get together our customers think they will and exchange the money and deed Page 4 simultaneously, there are other executed and delivered into escrow, matters to be considered-validity and the escrow closer is able, upon of title being conveyed-possible being satisfied that the buyer has intervening liens-worth of check performed his duties, to deliver the being tendered-that makes it nec­ deed on over to the buyer. essary either that the parties know When people come into the of­ well what should be done, or must fice with a real estate transaction trust each other a great deal, in that needs to be closed, and want order to deal directly. you to act as escrow agent, where Another advantage an escrow do you go from there-what do affords is that of convenience. The you need? Well, you need to first parties to the sale or loan do not find out what exactly is being have to spend their time and effort done. This, sometimes, is the most away from their other business difficult part of the closing, but, personally seeing to the closing of every time, the most important. the transaction. This is very at­ Actually, the balance of my talk tractive to the average person not could be summed up in a direction familiar with real estate, as other­ one sentence long, which is: An wise the closing would require escrow closer must get clear in­ virtually all his time until it gets structions, that are understood by consumated. More and more real all ccncerned, reduced to writing, estate brokers are finding out that, signed by all parties concerned, once they get a listing sold under a and then must follow them contract, they are money ahead by through to the letter. letting someone else attend to the This seems to be a misconcep­ details of handling the closing tion that is fairly widely held, and while they are left free to go out I am sure all of you have had, or and show other houses. will have visits from people who And, when the two or more sides have been squabbling between each to a transaction cannot feasibly other for weeks trying to agree on get together to close, because of some points of a transaction they distance, other business, etc., then want to consumate, and think that an escrow not only renders con­ by "leaving it to the experts," venience, but actual possibility to everything will be worked out for the closing. them. They, of course, will be dis­ One of the legal advantages of appointed. An escrow agent can­ an escrow is that a transaction, if not safely proceed to close any carefully and properly set up un­ transaction that is not fully agreed der an escrow arrangement, is not upon by the parties. interrupted by the death of the Now, when I say that an escrow seller. Under the direct method closer needs clear instructions for closing, where a contract has been which he might even have to su­ entered into, but the sale not yet pervise the writing out of himself, closed, and the seller dies, the I would emphasize a distinction, buyer has to wait for the property and point out that this does not to go through probate, which takes mean drawing a contract for the several months. But, under an es­ people, but only ascertaining and crow, the deed has already been writing down, if not already done, Page 5 what the parties have agreed upon need of being sure all parties co!1- already. The writing of contracts, cerned are in agreement. This, of that is, consulting with a party course, is necessary before you can about a transaction and telling undertake to follow any of their him what should be agreed to by instructions. As discussed previ­ him, is the business of the prac­ ously, an escrow offers many ad­ ticing attorney, and one who has vantages, but one thing it is not been employed by the person he is is a cure-all for getting a closing advising. I do not think that there done when people cannot agree on exists any situation that would its terms. justify as escrow agent represent­ Several times people do come ing both parties in drafting a into the office who have only gen­ contract for them. Your only pur­ erally agreed upon a sale-that is, pose, as escrow agent, is to clarify upon the property to be trans­ for the purposes of the closing you ferred and the price to be paid­ are to conduct, the oral or written and indicate that they know a contract the people have already great deal more is involved and entered into, whether by them­ want you to "work it all up." What selves or with the help of their they want is a contract written­ own legal counsel. and I know of nothing to do but If I can get this one sentence in­ tell them that they themselves will struction across, I do not believe first have to agree upon whatever that anyone here will encounter any details they wish to bring into the trouble after closing a transaction closing, and recommend that they that cannot be dispelled by referring do so with their attorneys. to the signed instructions in your When people walk in with file. The first advantage of clarify­ enough matters agreed to in order ing the transaction, and your part to get the transaction closed in­ in it, at the outset, is so that the telligently, but do not have it in parties themselves will be sure to writing then it helps to have some know just what is going on, and are form of printed escrow receipt sure they are actually in complete upon which the instructions can be agreement. And sometimes, sur­ detailed. There is no set pattern prisingly, they do not know really for such forms, but, after being what is going on, and, often find completed, they should clearly set upon discussion several points about which they yet want agree­ ment upon. The second advantage is the protection of yourselves, who closed the transaction and distributed the money. You should be supplied with a fully signed copy of your instructions to be always held in your file-not a photocopy-not an unsigned copy-not a copy to be returned after closing. I mentioned before, briefly, the Page 6 out (1) what documents or money enough to tell you exactly what is have been received, (2) from whom to be done before the money is each has been received, (3) where disbursed and clearly spells out they are to go ( 4) what must how it is to be disbursed, and what happen before they go (conditions sums are to be withheld, if any, precedent to delivery and disburse­ for reserve deposits. Oh, their di­ ment) and (5) what costs are to rections are often set forth in be borne by whom. ponderous four-page letters and Or, the people may have already consist among other things of written up their agreement, brief­ having filled out some large stack ly or otherwise. Your job is then of various forms, but, on the to review it and see if a closing whole, all you have to do usually can be conducted on it, and clarify is to read and follow instructions. any part that may not be clear for It is on sales transactions where your purposes. Again, if it is so I think you will usually find a incomplete that no closing could be need to clarify instructions. I had on its instructions, you must think it would be well here to go get them to complete it in some over some matters that come up manner or other. But, again, noth­ in a sale, and familiarize ourselves ing is to be added by you, even with things we should watch for though you may personally feel on these matters. that it should such as a provision 1. Who are the parties to the for tax pro-ration. If their agree­ transaction? It is, of course, of ment between themselves and in­ basic necessity to know who all the structions to you are clear, and people are who are involved in the closing can be made thereon, you sale, and, as mentioned previously, may go ahead, although some all of their signatures must be normal provisions may be lacking. gotten on your instructions. Typically, the agreement be­ 2. What is being sold? Many tween the parties to a sale are sales contracts describe the prop­ framed onto a printed contract erty involved extremely indefinite­ form. These forms, I find, seem to ly-so many acres near such a serve fairly adequately, but often town-or perhaps use a street ad­ they contain matters that are in­ dress. Legally, this is normally applicable to the transaction at sufficient for the enforceability of hand, or are uncertain on some a contract. But you, as escrowee, matters, and need clarification. must know when the deed comes As escrow agents, dealing with in to you from the seller that it real property transactions, you describes the property intended to will be dealing, mainly, with sale f. be sold, and sometimes your only and loans upon real property. way of checking this is on your Loans, normally, do not seem to copy of the contract. create too much of a problem. Maybe this is because a loan SATURDAY EVENING might be a simpler form of trans­ POST action than a sale, but the real POSTER REPRODUCTIONS reason, I think, is because the $1.25 EACH lender is usually sophisticated Page 7 IDAHO ELECTS RAY BOWEN

NEWLY ELECTED OFFICERS OF THE IDAHO LAND TITLE ASSOCIATION

ay Bowen, President and Man­ B o u n d a r y Abstract Company, R ager of Benewah County Ab­ Bonners Ferry; Mrs. Mary Davis, stract Company, St. Maries, Idaho, Payette Abstract and Title Com­ was elected President of the Idaho pany, Payette; Dwain Stufflebeam, Land Title Associaiton at the An­ Bingham Title and Trust Com­ nual Convention of that organiza­ pany, Blackfoot. tion, June 24-25, 1966, in Idaho Mrs. Jeanette Pauli, The Title Falls. Vice Presidents elected for Insurance Company, Boise, was re­ the coming year are Peter Wilson, elected Secretary-Treasurer. Page 8 RIGHT:· Left to right, John McDer­ mitt, Joseph Lewellen, Rober Meyer, Lloyd Ludwig, and Clarence G. Ledogar. BELOW: Mr. and Mrs. Clarence Ledogar and Mr. and Mrs. Lloyd Ludwig.

LUDWIG HEADS NEW JERSEY ASSOCIATION

he Annual Convention of the First Vice Pesident of the Asso­ T New Jersey Land Title In­ ciation. surance Association was held June Others elected were Joseph E. 16, 17, and 18, at Seaview Country Lewellen, Vice President and Sec­ Club, Absecon, New Jersey. Lloyd retary of the West Jersey Title Ludwig, Vice President of New and Guaranty Company, Camden, Jersey Realty Title Insurance Com­ Second Vice President, and John pany and Manager of the com­ H. McDermitt, Associate Title Of­ pany's Hackensack office, was ficer of the New Jersey Realty Title elected President. Insurance Company, Treasurer. Ludwig, who lives in Ridgewood, Reappointed as Executive Secre­ succeeds Clarence G. Ledogar, tary was Emil E. Kusala, Title Senior Title Officer of the Chelsea Officer of the Central Guaranty TiUe and Guaranty Company, At­ Mortgage and Title Company, lantic City, New Jersey. Robert Rutherford. Meyer, Assistant Vice President Ludwig has been affiliated with of the same company, was elected the New Jersey Realty Title In­ c: urance Company for 15 years. The company, a member of New Jersey Realty Group, is headquar­ tered in Newark. Ludwig is a member of the New Jersey State Bar and the Ameri­ can Bar Association. He is a Past President of the Lawyers Club of Bergen County. Page 9 DEAR DICKY:

plan t~ revolutioni~e the lolli­ DEAR NO-DRIP: pop mdustry by mtroducing You were committed to the hos­ I and the a new double-ender type lollipop pital by order of court with a drool catcher attachment. effect of that order was to destroy of record. In addition, my lollipop has a built­ your legal competency now, in fact, in feature, which we call the Although you may "linger longer lick." This is a be competent we will not insure sweetened adhesive that causes the title based on your deed until your lollipop to cling to the tongue until legal competency has also been re­ it dissolves or is scraped off. We stored of record by the filing of feel that the sucker public has your discharge from the jurisdic­ been crying for such an item. I tion of the hospital "as recovered." plan to finance the venture by the Otherwise, the only way we would sale of my property. My problem insure the sale of your property is that a couple of years ago, I was would be through guardianship inadvertently committed to the proceedings as provided by statute. Western State Hospital which may affect my competency. I admit that I have a slightly split personality with minor paranoic overtones but in these hectic days who hasn't? NOW AVAILABLE Most of the time I am as rational ALTA insignia get out and my main mania as all Lapel pins for men is to get my lollipops into produc­ tion. Will you insure title on my Gold charms for women deed? NO-DRIP DONALD.

Page 10 Page 11 MORE ABOUT THE ANNUAL CONVENTION

HOW ARD LANIN LANIN ORCHESTRA HEADS OUTSTANDING ENTERTAINMENT

t the Annual Banquet, Wednes­ described by critics and m u s i c A day evening, October 19, the lovers everywhere as "spectacu­ Ballroom of the Fontainebleau Ho­ lar." In show business parlance, music as tel will come alive with Miss Murray's is a "class act", one the internationally famous society in perfect keeping with the dignity orchestra led by Howard Lanin provides dinner and dance music and stature of members of the for ALTA members. American Land Title Association. Supporting this splendid enter­ A versatile artist, Miss Murray, is tainment wiU be Bonnie Murray, prepared to regale the Convention Page 12 delegates with everything fr o m unusual ability to articulate each Moonlight Bay to the finest music word of every song. from current broadway hits. Rounding out the banquet en­ A fitting companion for Bonnie tertainment will be Bill Bernardi, Murr a y is Larry Douglas who a versatile artist whose high level makes a handsome impression be­ performance is bound to please cause of his personality, taste, and ALT A members.

BONNIE MURRAY

BILL BERN ARD! LARRY DOUGLAS

Page 13 ADDITIONAL SPEAKERS CONFIRMED

'30's included an auditing assign­ ment with a large electrical sup­ ply company, a post with a mort­ gage banking firm and an associate in a home construction company. In 1943, he joined Home Federal Savings as a Loan Officer. In 1950 he became Vice President in charge of the Mortgage Loan De­ partment and was elected a Direc­ tor in 1951, Executive Vice Presi­ dent and Managing Officer in 1952 and President in 1959. In 1952, when Mr. Preisler assumed the management posts, assets of the as­ sociation were $46 million; at June 30, 1965, they exceeded $350 mil­ lion. With this background and ex­ ·perience, it is not surprising that under Mr. Preisler's knowledge­ able leadership, Home Federal has become widely known for its OTTO L. PREISLER aggressive but careful loan origi­ nation policy and for its compe­ he officers and staff are tence in loan servicing. Acutely T pleased to announce t h a t sensitive to market trends, Home Otto L. Preisler, P re s i d en t of Federal was among the postwar Home Federal Savings and Loan leaders in establishing a Iarge­ Association, Chicago, and Presi­ scale construction loan operation. dent-Elect of the U.S. Savings and Four years ago, it cut back sharply Loan League, will address the con­ on apartment commitments before vention delegates We d n e s d a y the first faint shadow of apart­ morning, October 19. ment over-building. A measure of Born in Chicago in 1904, Mr. the skill of the Home Federal op­ Preisler's ties with savings and eration (headquartered in the 16- Io-an business date back to his high story modern office building in the school years when he assisted his block immediately south of The father who was Secretary of four Palmer House on State Street) is small associations. Mr. Preisler's the fact that of the 18,000 loans business career in the 1920's and outstanding as of mid-1965 only Page 14 33 were delinquent 60 days or more. Its real estate owned account like­ wise is nominal. Mr. Preisler's background in­ cludes extensive work in common cause with other executives on business-wide problems. He served two terms as a Class A Director of the Chicago FHL Bank and is a Past President of the Cook County Council of Insured Associations, the Feder a 1 Savings and Loan Council of Illinois and the Czech­ oslavak Le a g u e. He served as Chairman of the Illinois League's Federal Committee and is current­ ly one of four industry trustees of LOUIS LEEDA the Savings Associations' Retire­ Alvin R. Robin, Chairman of the F u n d. Nationally he has ment Abstracters Section, has arranged served on several League commit­ something different for the An­ tees, including membership on the nual Convention. It is a Manage­ Committee f o r th e Legislative ment Seminar in capsule form with past five years. outstanding speakers on account­ He also has found time to serve ing, personnel, and general man­ his community. Earlier in 1965, he agement problems. became the first savings and loan Chosen to open the Seminar with executive to be elected Chairman a provocative discussion of man­ of the State Street Council, one of agement principles is Louis Leeda, Chicago's most prestigious busi­ Lecturer a n d Consultant, Coral ness groups. Mr. Preisler also cur­ Gables, Florida. Louis Leeda has rently serves as a member of the spent many years as an engineer Advisory Committee of the Civic in the field of electronics. His Federation, Chicago's leading tax­ formal training b e g a n with the payers' "watch dog" group, and is University of Indiana and ended the first savings and loan execu­ at the Illinois Institute of Tech­ tive to serve on the Board of Di­ nology. Gradually, his interests rectors of the Chicago Title and drifted from engineering to the Trust Company. commercial area; and finally went Mr. Preisler was married to the into business himself. About six former Miss Sylvia Vita in 1929. years ago, he sold his business and Residents of the west surburb of retired from the economic arena Riverside, the Preislers have two and spent these last six years as a daughters (Mrs. David Weinger full time student in the Business and Mrs. Grace Lang) and two School, Law School and Graduate grandchildren. Mr. Preisler is a School of the University of Miami, member of the Medinah Shrine of where he was granted the degree Chicago. of Master of Business Administra- Page 15 tion in early 1966. As a Manage­ The balance of his 19 years of ment Consultant and Accountant, C.P.A. experience has been in the he has been busily engaged in Miami area. teaching, lecturing, studying, and He has had both teaching and solving a wide variety of problems writing experiences; his last ar­ of business and professional peo­ ticle (published in a recent issue ple in this area. of the Florida C.P.A. Journal) was entitled, "The S.B.A., the S.B.I.C., and Your Client". Mr. Cherkas is the Program Chairman for the Dade County C.P.A. Society and a member of the Taxation Committee of the Florida Institute of C.P.A.'s.

BYRON S. CHERKAS Byron S. Cherkas, the man nomi­ nated by Andrew S. Boyce, Chief of the Miami Branch of the Small Business Administration, to cover the subject, "Management Use of Accounting Information", is a partner in the firm of Cherkas, CHARLES J. WALN Rapaport and Crair, Certified Pub­ The final panelist for this im­ lic Accountants, of Coral Gables, portant Management Seminar is Florida. Mr. Cherkas received his Charles J. Waln, President, Per­ B.S. and B.A. degree from North­ sonnel Association of Greater western University of Evanston, Miami. Illinois. During World War II, he Charles J. (Jack) Waln was born served with the U.S. Army Fi­ in Hyattville, Wyoming. He moved nance Department. From 1947 to to Fort Lauderdale, Florida, with 1956 he was associated with sev­ his family at the age of two, where eral C.P.A. firms in Chicago, Illi­ he attended high school, graduat­ nois, prior to moving to Florida. ing from Fort Lauderdale High. Page 16 In July 1941, he enlisted in the Assistant Personnel Director. In U.S. Air Force, serving overseas in 1961, he was promoted to Person­ the Southwest Pacific Theatre and nel Director, his present position. receiving his discharge in Septem­ He is active in the American ber 1945. Society for Safety Engineers; the He attended the University of Personnel Association of Greater Miami from which he graduated Miami, of which he is President; with a B.B.A. degree in 1948. and the Committee on Total Em­ He joined Eastern Airlines upon ployment of the Greater Miami graduation and served in the Per­ Chamber of Commerce. sonnel Department until he joined He is married, a home owner, Maule Industries in May 1955 as and has six children.

REFRESHMENTS AFTER THE BATTLE

James H. Kidd, Regional Vice President, Title Insurance Company of Minnesota (presently serving as General Chairman for the ALTA Annual Convention) is pictured above with Jabe Barnett, Assistant Vice President, Title Insurance Company of Minnesota and Mrs. Dottie Teisberg, Public Relations Director, Lawyers Title Insurance Corporation, Atlanta, Georgia. The occasion for the photograph was the State Bar of Georgia meeting in Augusta. During a meeting of the Real Property Law Committee, the discussion turned to support by the organized Bar of Lawyers Title Guaranty Fund. John P. Matthews of Lawyers Title Insurance Corporation and Jim Kidd took part in the discus­ sion. The above photograph is evidence that they survived. Page 17 In 1964 Mr. Roller became the of­ fice manager of the main New York office of Home Title Guaranty Company. As Vice President of the Home Title Division of Chi­ cago Title Insurance Company Mr. Roller is responsible for Na­ tional Operations including the supervision of agents and repre­ sentatives in New Eng land, Puerto Rico and the Virgin Islands and Public Relations for the Division. He is a member of the American Land Title Association, the Real Estate Board of New York and RolJer Elected Connecticut the New England Society in New Board Title Head York. He is active in community activities in Summit, t the Annual Meeting of the and civic .Jersey, where he resides with Connecticut Board of Title New A his family. Underwriters, Stanton S. Roller, Vice President of Chicago Title The Connecticut Board of TitJ.e Insurance Company, Home Title Underwriters is a voluntary asso­ Division, was unanimously elected ciation of title insurance com­ President of the Connecticut Board panies licensed by the Insurance of Title Underwriters for the pe­ Department of the State of Con­ riod of 1966-1967. Mr. Charles D. necticut as a title insurance rating Murrell, Vice President of Inter­ organization. County Title Guaranty & Mort­ gage Company was elected Vice President and Mr. Edward T. Brown was elected Secretary­ Treasurer of the Connecticut Underwriters. Board of Title ROLLER The new President, Mr. Roiler, is a graduate of Williams College and served as a 1st Lieutenant in the U. S. Army during the Korean War. Upon completion of his army service, he served as Treas­ urer and Manager of Joseph Roller Leather Company for several years. Mr. Roller has been active in the title insurance industry since 1958 when he joined the Home Title Guaranty Company as Director of National Sales. In 1962 he was elected Vice President of Home Title Guaranty Company. Page 18 MANAGEMENT MOVE AT Barnard came to Security Title General Amer­ SECURITY in June, also from ica, where he was Director of Data Processing and responsible for the operations and program­ ming of the computer center in wo management moves were Seattle as well as supervision of T announced recently by Ernest data processing activities in ten J. Billman, President, Security division offices. Concurrent with Title Insurance Company, Los An­ his new position as Vice Presi­ geles. J. R. Wright, formerly Vice dent of Systems and Procedures President in charge of Systems and the Data Processing Department Procedures, is now Vice Presi­ of Los Angeles Operations was dent and Supervisor of Branch put under his supervision and Office operations. Stepping into made a department of Home Wright's former position is newly Office. elected Vice President Eugene C. Barnard is a graduate of the Barnard. University of Southern California Wright joined Security Title in School of Commerce where he October, 1964 from General Amer­ was awarded the annual gold key ica Corporation where he filled of Alpha Kappa Psi fraternity for a number of managerial assign­ highest scholarship in the grad­ ments for 29 years. He was the uating class. He served with the first member of General Amer­ U. S. Air Force from 1951 to 1954 ica's SAFECO group of companies including a two year tour of duty to be transferred to Security in Tokyo. Until. 1960, when he Title since the merger in July, joined General America as an In­ 1964. As Vice President and ternal Auditor, Barnard held vari­ Supervisor of Branch Operations ous supervisory and management Wright wiU co-ordinate state-wide assingnments with Pcaific Tele­ company operations. phone and Telegraph Company.

WRIGHT BARNARD

Page 19 RAY SWEAT TO Mr. Sweat is a member of Sigma LOS ANGELES Delta Kappa Legal Fraternity; the American, Indiana and Indianapo­ lis Bar Associations; a member eorge B. Garber, President of of the Committee on ReaI Property G Pioneer National Title In­ for the Indiana State Bar Associa­ surance Company, has announced tion; the American Right of Way the transfer of Ray E. Sweat from Association; and an associate the Union Title Division office in member of the Indianapolis Real Indianapolis to the PNTI Corpo­ Estate Board, the Marion County rate Head Office in Los Angeles Residential Builders, Inc., and the which became effective June 1st. Indianapolis Mortgage Bankers In Los Angeles Mr. Sweat has Association. been named Senior Title Officer for Pioneer National in its operations Whelan Elected Title Board throughout the United States. He Head was previously Assistant Vice t the Annual June meeting of President and Manager of Marion A the New York Board of Title County Operations in the India­ Underwriters, Daniel. A. Whelan, napolis Office. Executive Vice President of Amer­ A native of Crawford County, ican Title Insurance Company, Indiana, Mr. Sweat was graduated (Guaranteed Title Division) was from Indiana University and elected President of the New York taught in the Crawford County Board of Title Underwriters for Schools prior to entering the the period 1966-1967. United States Army during World Mr. Whelan has been active in War II. Following the War, he the title insurance field since 1923. obtained his LL.B. degree from the He was President of the New York Indiana University School of Law. State Title Association in 1956- His title career began in 1948 with 1957 and has served two previous Union Title Company in the Title Insurance Department. In 1953 he was named Secretary and Chief He was Examining Attorney. WHELAN named Secretary of Union Title in 1962, and in 1963 became Vice President and Secretary. In 1964, he became Senior Vice President and Secretary of Union Title, the position he held until the organi­ zation of Pioneer National in 1966, when he assumed his present office and duties. During the years he has been with Union Title and PNTI he has been a trusted con­ sultant for the principal users of title evidence in Indianapolis and around the state. Page 20 occasions as President of the New Hamilton is a graduate of York Board of Title Underwriters. George Washington University, Arthur J. Seltzer, Vice Presi­ Washington, D.C. and South Da­ dent of Metropolitan Title Guar­ kota University. He is a member anty Company was elected Vice of the South Dakota Bar and President of the Board. Mr. American Bar Association. Seltzer is presently the President He joined Title and Trust Divi­ of the New York State Title Asso­ sion of Pioneer National Title ciation and a member of the Board Insurance Company in 1961 as a of Governors of the. New Jersey title examiner in the Portland Land Title Association. office. His most recent assign­ Edward T. Brown of the firm of ment was as Assistant Manager Watters & Donovan, Counsel, to of the Yamhill County Branch in the Board was elected Secretary­ McMinnville. Treasurer of the New York Board Prior to joining Pioneer Na­ of Title Underwriters. tional Title Insurance Company he practiced law in South Dakota. The New York Board of Title Hamilton has been very active Underwriters is the voluntary as­ in community affairs in McMinn-· sociation of Title Insurance Com­ ville serving in the Junior Cham­ panies licensed as a rating organi­ ber of Commerce, Kiwanis and zation by the Insurance Depart­ Yamhill Realty Board. He is a ment of the State of New York. member of B.P.O.E. and A.F. & The Board makes and files with the A.M. Superintendent of Insurance the standard title insurance rates, rat­ ing plans and policy forms appli­ cable in all counties of the State of New York.

HAMILTON HAMILTON TO MANAGE PNTI LINCOLN BRANCH

A lexander Hamilton has b e e n J-\.. appointed Manager of the Lincoln County branch of Pioneer National Title Insurance Com­ pany, Newport, Oregon according to an announcement by Herbert Altstadt, Vice President and Divi­ sion Manager. Hamilton replaces Dick E. Scott, former Manager, who has been promoted to head up a new operation of Pioneer National Title Insurance Company in Milwaukee, Wisconsin. Page 21 New Ownership of Portland are: John M. Smeaton, James M. Comparcy Buck, Wm. C. Kavanaugh, Jr. and major development in the John W. Kelley, who were elected A Pacific Northwest title field Vice Presidents and Fred E. occurred last month when a group McMahon, General Legal Counsel. of veteran title insurance execu­ John Smeaton also serves as Cor­ tives purchased all of the stock porate Secretary. of the Title Insurance Company Burnie has a long record of serv­ in Portland, Oregon. ice in many Oregon business and The group is headed by Budd civic groups. He is a Past Presi­ G. Burnie, who resigned last May dent of the Oregon Land Title As­ from Pacific Title Insurance Co., sociation and is presently a mem­ P or t 1 an d (now Transamerica Title). Burnie had been President ber of its Executive Committee. of Pacific Title for 15 years and He is a Past President of the served earlier with Commonwealth American Right of Way Assn. and Title Insurance Company in Port­ served four years on the board of land for 25 years. Burnie is the the Portland Rose Festival Asso­ new President of Title Insurance ciation. He is currently Director Company as a result of the change of the Shrine All-Star Football in ownership. Game. The Board of Directors elected by the new owners of Title Insur­ ance Company are Budd G. Burnie, Fred E. McMahon and Milton A. Foland, Portland, Public Relations and Advertising Counsel. Three of the new Title Insur­ ance Company Vice Presidents are former Pacific Title officers. They are John M. Smeaton, who has over 20 years title insurance back­ ground and is a member of the Oregon State Bar Association; James M. Buck, who also has a 20-year career in title insurance work after starting out in 1946 with the Baker Abstract and Title BURNIE Company in Baker, Oregon; and Wm. C. Kavanaugh, Jr., another 20-year executive in the title in­ In addition to Burnie, five other surance field, who managed the veteran title executives have be­ Escrow Department at Pacific, is come officers and stockholders of a member of the Oregon State Bar Title Insurance Company. They Association. Page 22 General Legal, Counsel Fred E. McMahon has 15 years in the real estate law and title insurance field and has been an officer of Title Insurance Company for four years. McMahon moved to Oregon after obtaining his law degree from the University of Michigan Law School in 1950. He is a member of both the American Bar Asso­ ciation and Oregon State Bar Association.

SMEATON

BUCK McMAHON

Ida M. Berg, another career executive in the title insurance field, also has joined Title Insur­ ance Company as an officer. Miss Berg, who was with Common­ wealth Title through 1955 and Pa­ cific Title in Portland until this May, has been eJ.ected an assistant secretary of Title Insurance Com­ KAVANAUGH pany, according to Burnie. Page 23 Arkansas Member in Beauty IDA M. BERG Pageant Vice President J. W. "Bill" Mrs. 0. M. Young, Jr., of Hot Kelley joined Title Insurance Com­ Springs, Arkansas, has been desig­ pany last summer after operating nated the official chaperon for Miss his own real estate firm in Port­ Arkansas. She began her duties land for many years. Forrest T. officially when the state's new James, Assistant Vice President beauty representative was chosen and Margaret Emerson, Assistant and crowned at the annual. "Miss Secretary, long time Title Insur­ Arkan s as Pageant" in Hot ance Company officers, were re­ Springs, July 20-25, 1966. elected along with the election of 0. M. Young, Jr., (and his wife all new Title Insurance Company Flo) have been active Pageant officers. workers for many years. Mr. Young, who heads the Guaranty Title Company in Hot Springs, has been the official escort for Miss Arkansas during Pageant Week many times. Flo Young was once a beauty queen herself. So learning the chaperoning chores will be no chal­ lenge. She is no stranger to beauty pageants, having accompanied the reigning Miss Arkansas on some of her personal appearances. One of the highlights of the Miss Arkansas Pageant is a trip which takes her and her chaperon to New York and Atlantic City for the Miss America event. For Flo Young BILL KELLEY that will be a treat because she has never been to either city. Page 24 JIM ROBINSON TO MODERATE GOVERNMENT PANEL ALTA's Secretary and Director of Public Relations, Jim Robinson, has been named by the Washing­ ton Chapter, Public Relations So­ ciety of America, to moderate a p an e l discussion, "Government Public Relations-Gallahad or Vil­ MEETING lain?" at the Annual Mid-Atlantic Conference of the public relations TIMETABLE men September 22, 1966, at the Sheraton-Park Hotel, Washington, D.C. The Conference is one of the highlights of the year for profes­ September 9-10, 1966 Kansas Land Title Association sional public relations practition­ Ramada Inn, Topeka ers from as far away as Boston, Charlotte, and Atlanta. The theme September 15-16-17, 1966 Utah Land Title Association of the Conference is "Expanding Riverside Country Club, Provo Opportunities in Public Relations for Industry, for Government, for September 15-16-17, 1966 New Mexico Land Title Association Associations." Edwin L. Stoll, Di­ La Fonda Hotel, Santa Fe rector of Public Relations, Na­ tional Association of Real Estate September 22-23, 1966 Louisiana Land Title Association Boards, is the General Conference Chairman. September 25-26-27, 1966 Missouri Land Title Association The morning session, moderated Ramada Inn, Jefferson City by Jim Robinson, will include such distinguished Government Officials September 29-30; October 1, 1966 Wisconsin Title Association as: Midway Motor Lodge Assistant Sec­ Arthur Sylvester, October 2-3-4, 1966 retary of Defense for Public Ohio Title Association Statler-Hilton Hotel Affairs, U.S. Department of De­ Cleveland fense. Esther Peterson, Special Assist­ October 16·17-18-19, 1966 ant to the President for Con­ ANNUAL CONVENTION American Land Title Association sumer Affairs Fontainebleau Hotel, Miami Beach, Florida Joseph A. Rosapepe, Director of Information, Internal Revenue November 4-5, 1966 Land Title Association of Arizona Service Scottsdale, Arizona Alfred Friendly, Associate Edi­ tor, The Washington Post November 10-11-12, 1966 Indiana Land Title Association Calvin K. Synder, Executive Vice President, American Retail November 17-18-19, 1966 Federation Florida Land Title Association American Land Title Association