"OUR 61St YEAR"

TITLE s OFFICIAL PUBLICATION OF THE .AMERICAN LAND TITLE ASSOCIATION 3

"OUR 61st YEAR"

APR IL, 1968 PRESIDENT'S MESSAGE

APRIL, 1968

Now that our Mid-Winter Conference is behind us, we are begin ning to turn our attention to other matters of association business. Many of our committees are actively at work on projects which have been assigned to them. The results of their labors will be made known to us from time to time throughout the year and at our annual con vention this Fall. Very shortly with the advent of Spring, the tempo of our state asso ciation activities will sharply increase as evidenced by the meeting timetable shown in Title News. I anticipate the privilege of visiting some of these state meetings and others will be attended by various national officers. An annual convention program is already beginning to take shape. There will be several items of unusual interest and a number of out standing guest speakers. Program details will be presented later in the year as final arrangements are realized. May I also take this means of conveying to all of you my gratitude and appreciation for the many messages and other expressions of sympathy and condolence. It is a great comfort and a real heart warming experience to have so many friends respond so spontane ously in time of need. Both of my sons and I are grateful for your thoughtfulness and help. TITLE NEWS THE OFFICIAL PUBLICATION OF THE AMERICAN LAND TITLE ASSOCIATION

EDITORIAL OFFICE : Premier Bldg., 1721i "ye St., N . W .. Wa• hinictun , D.C. 20006 296-3671

FEATURES The Magic of Automation 2

The Uniform Commercial Code 5

The Public Interest-An Opportunity 10

Proposed Constitutional Amendments 13

A Conference to Remember 16

Walter Judd, Convention Speaker 22

Convention in Indiana 24

DEPARTMENTS A Message from the President inside front cover In the News 26 Meeting Timetable inside back cover

VOLUME 47 ON THE COVER: Statesman, orator, doctor, missionary, Far Eastern expert, Dr. Walter H. Judd is probably the most sought NUMBER 4 after speaker in America. Certainly he is one of the finest. At the 1968 Annual Convention in Portland, Dr. Judd will speak to 1968 ALTA members. His s ubject-"Vietnam-The Key To Asia."

JAMES W. ROBINSON, Editor MICHAEL B. GOODIN, Assistant Editor and Manager of Advertising Page 1 "THE MAGIC OF AUTOMATION''

By Jack J. Edwards, Executive Vice President, California Land Title. Company

The following remarks were made by Mr. Edwards at the "Magic of Automa tion" Workshop S ession held during the 1967 A.L.T.A. Annual Convention, in Denver, Colorado. For remarks made by other panelists participating in this dis cussion, please refer to the January, 1968 issue of "Title News." feel a 1itt1 e bit like Dean the rate of 600 lines a minute. We I Martin. I was in Las Vegas re also knew we could continue to cently-on business, of course add information at the rate of and went to see his show. He hap 6,000 to 8,000 card images a day pened to mention that he had six for the next 31/2 years without any children, whereupon the audience additional equipment, or space, or broke into wild a p p 1 a u s e. He -as important as these-person stopped us short by saying, "Don't nel. Shortly a f t e r ordering the make a hero out of me-it only equipment, which arrived 21/z took six minutes!" years later, our group entered into Before I tell you how our Sys a c o n t r a c t with Planning Re tem 360 works-and I might add search Corporation to develop the we are very pleased with it-I complete program (software) for would like to review some of the the System. things that took place before de While IBM was couched in a posi livery, and the timing involved. tion to help, and did when asked, When IBM announced their Sys we relied solely on Planning Re tem 360 in April of 1964, we im search to design our software pack mediately placed our order for cer age, and when necessary work with tain equipment, which included two the IBM personnel. By contract, data cell drives. At that time we our total expense for this service had close to 7,000,000 IBM cards was approximately $140,000. Dur indexed from documents recorded ing this period there was a four in Los Angeles County. Our title month delay, due to re-scheduling plant was housed in card file cab of delivery dates on the part of inets, with the source material on IBM. While it was bothersome, it microfilm. This breakthrough of was our only major problem during the Data Cell was vi e w e d as the three years. a massive storage device (not a Jerry Koory has told you the computer) , that had the ability total man hours for programming. to store the information from the Converting-there w e r e actually cards created in a small physical two to three programmers work area and, on a direct request, give ing full time, for over two years, a chain of title in listed form at to complete the job. Page 2 Based on the joint plant agree tern for daily work, running paral ment, we found neutral quarters lel with our old plant for a few to house the Data Center. Prior days, in order to verify our new to delivery of the equipment it retrieval. was necessary to install special air At the present time an average conditioning, wiring and raised of 1,200 inquiries are made each flooring. The initial cost of these day from the System. All equip special improvements ran in the ment is dedicated, during the day neighborhood of $17,000. light hours, to searching. The ma In the latter part of December, chine is really loafing, based on 1966 the equipment was moved in. its full retrieval capacity. In the It consisted of: evening the program is changed for work on our date-down, up 2540 Reader dating, and audit procedures. 1403 Printer-600 lines per min While the equipment seems to ute be, and is, quite complex, the re 2321 Data Cell Drives (2) liability factor has been excellent. Control Units During the month of July we 2311 Disk Packs (3) logged four hours of down time .029 Keypunch Machine on Site in August, 4% hours. As you can 2030 C.P.U. (Central Processing see, the equipment is actually used, Unit) in one way or another, 16 hours 32-K Equals 32,000 positions of a day. A security copy of this in core storage formation is stored off-site on sep Above is with Selector Chan arate data cells. While there are nel internal labels, it is possible for Five days after delivery the Sys an operator to erase information. tem was turned over to us and If this should happen, or there the loading procedure began. It was some other type of destruc took 21/2 months to load the cards tion, the System could be back in into the data cells. This was done operation within 24 hours. in January through the middle of As you know, this is a joint title March of this year. I don't mind p 1 ant, with four participants telling you that there were . mo which, for the record, I would like ments when we wondered, "Is all to name. They are: Chicago Title this information really going in? Insurance Company, Stewart Title . . . and, more importantly, will Guaranty Company, Lawyers Title we be able to get it out?" The day Insurance Corporation, and Cal finally came-we asked for infor ifornia Land Title Company. Cer mation back. 32 searches were tainly a joint title plant is more made in both the Property and economical for each participant, General Index files. The print-out, which means you can do more and at 600 lines a minute, took 2% have more for use. It also lends minutes to complete the chains. itself to multiple use by its very We compared the chains with the nature. The capacity is there; no information in our old plant and one has to wait to get into a book found that they were accurate. We or file, and it can be housed in a immediately started using the Sys- relatively small area. Our Data Page 3 Center has 4,000 square feet; of This one turned out to mean th i s space, 900 square feet is "Scientific Wild-Ass Guess". used for the 360. In order for any one to consider We believe our retrieval is now automation, and what might be more accurate. All information is best for him, from what is avail coming from one source level, as able on the market, I believe he opposed to the Main, Current and must consider the following: (1) sometimes Current-Current t h a t The amount of source material ac exists in the standard card plant. cumulated and the volume to be The Title Officer receives his in added daily. (2 ) ·The size of the formation faster and all together, county and its real estate activity standardized and k e y e d to our has a bearing. (3) The county rec method of examination. ords and their availability, and ( 4) -of course-USE. Dedicated personnel are ex In closing, we believe there are tremely important. We have been still things to come that will aid most fortunate in this area. Dur or be of benefit to our present ing the loading period, our Man For one-greater density, ager-and the others working with System. allow more information him-worked long and hard hours. which will system, which should They did an unbelievable job. Four in the same dollar savings. We hear men operate our System, covering result in image retrieval. This, 16 hours a day. Five years from much about is coming and will really now, from what is known at the of course, total system from start to present time, four men will still make a also feel that with our be able to operate the System. Un finish. We present equipment there is a strong der the old card plant method this, possibility that we can create of course, would not be possible. additional services for our custom often heard friends in I have ers. It has been a very stimulating our industry and management-in experience for all of us connected they don't understand others-say with this development. If any of the people in Data Processing what you here find yourself in Los about, or what they are talking Angeles in the future, and would In all other departments are doing. like to see this in operation, we there are checks in the company would be happy to have you as etc.-but not and balances, reports, our guest. Thank you for your They talk another language. here. kind attention. You really can break through this, however. For e x a mp 1 e-I/ 0- means Input-Output. C.P.U. refers MARK YOUR to the Cent r a 1 Processing Unit CALENDARS System is where the logic of the ALTA ANNUAL contained. Last year when I was CONVENTION a guest of IBM at their "Home stead" in San Jose, California, one SEPTEMBER 29-0CTOBER 2 of t h e i r men referred to the PORTLAND-HILTON HOTEL "S.W.A.G." System (Everything PORTLAND, OREGON has gone to initials these days.) Page 4 HOW THE UNIFORM COMMERCIAL CODE WILL AFFECT THE REAL PROPERTY TITLE EXAMINER

By W. Dunlop White, Jr., Attorney Lawyers Title of North Carolina, Inc.

Method of Perfecting a Security Interest in Fixtures: A security interest in fixtures is perfected upon the proper filing of a financing statement or equiv n many instances the real prop alent document. The purpose of a I erty title examiner will be asked financing statement is to provide to certify title to the land and all certain m i n i m u m information improvements thereto which would which will constitute notice to the constitute real property under ex public that a certain party claims isting North Carolina law. Such a security interest in c e r t a i n an undertaking will bring into play goods. the law if fixtures, which is cov The financing statement is le ered to a certain extent by the gally filed under the UCC when it Uniform Commercal Code. is presented to the recording of Definition: ficial and accepted by him. The Fixtures, as such, are not de financing statement is ordinarily fined in the UCC and whether or valid for a period of five years or not a particular item will consti until sixty days after the maturity tute a fixture, will be determined date stated in the statement, which by applicable state law. The UCC ever comes sooner. The statement does state that goods incorporated may be extended by a properly into a structure in the manner of filed continuation statement or lumber, bricks, glass, cement, tile, terminated by a properly filed and the like, will ordinarily not termination statement. constitute fixtures. The financing statement as re- Page 5 lated to a security interest in fix which are or are to become fixtures. tures, must contain the following Suppose the financing statement information: is, in good faith, filed in the wrong (a ) The names and addresses place or in the wrong county. In of the debtor and the secured such a situation, the filing will party and be signed by each. be effective as to any portion of (b) A statement of the col the collateral which was filed in lateral, indicating the types or the proper place. It will also be describing the items. effective as to the remaining or (c) A description of the real improperly filed collateral against estate in which the fixture is al those per s on s who have actual ready attached or to be attached knowledge of the contents of such and the name of the record owner statement. This is the good faith of said real estate on the date of actual knowledge exception and filing. could well cause title examiners The actual security agreement many headaches. This, needless to may constitute a financing state say, is a distinct departure from ment and be filed if it contains the oft-quoted principle of North the above information and is signed Carolina law that no notice, how by both parties. ever full and formal, will take the The UCC does not require com place of record notice. plete and rigid compliance with Priority as to Security Interests the above requisites. A statement in Fixtures is effective if it substantially com GS 25-9-313 sets forth in detail p 1 i es. Substantial compliance is the methods of determining when b r o a d 1 y defined as a statement a security interest in fixtures at which contains minor errors which tains priority and against whom. would not be seriously misleading. The essential purpose of this stat Place of Filing: ute is to resolve conflicts over pri The general rule is that a secu ority between parties claiming an rity interest must be properly filed interest in fixtures under the UCC in the proper place to be perfected. and o t h e r parties claiming an Goods which are or are to become interest in fixtures under N o r th fixtures must be recorded in the Carolina real property law. office of the Register of Deeds of Priority is especially important the county in which the land to as to fixtures because of the right which they are or will be attached of detachment and removal. If the is located. The Register of Deeds secured party has complete prior will be required to index the financ ity as to the fixture, he may re ing statement on fixtures in the move the fixture as a matter of name of the debtor and in the right and only pay to parties other name of the record owner of the than the debtor the cost of repairs real estate as shown by the financ of any physical injury to the real ing statement. In this way, a real property caused by detachment and property title examiner will be removal. The secured party is not given notice that a secured party required under the UCC to pay claims a security interest in goods for any diminution in value to the Page 6 real property caused by the ab ests is obtained by proper perfec sence of the fixtures or the neces tion of the security interest. As sity of replacing such. stated above, perfection is obtained Priority as to Persons Having a by filing a financing statement, or Present Interest or Prior Rights equivalent document, in the office in Land: of the Register of Deeds in the county in which the real property Priority as to persons having a is located and recording of such present interest or prior rights in by the Register of Deeds in accord the land, is determined by when ance with the requirements he is the security interest in the goods required to observe with respect attaches. ·The security interest to the recording of mortgages on normally attaches when an agree real property under North Caro ment is executed, value is given, and the debtor obtains right in lina Jaw. the collateral. When all three re GS 25-9-313 sets forth the follow quirements are met, the interest ing subsequent parties over whom attaches. the secured p a r t y has priority If the security interest attaches upon perfection of his security in prior to the time that the goods terest. are affixed to the realty, the se (1) subsequent purchasers for cured party will have priority over value of any interest in the real all persons possessing a present estate. Subsequent purchasers in interest in the realty or prior claim clude purchasers at foreclosure or prior right in the realty as of sale except for an encumbrancer the date of attachment. who purchases at his own fore If the security interest attaches closure sale. after the time the goods are affixed (2) creditors with a lien on to the realty, the secured party the real estate subsequently ob does not have priority to th o s e t a i n e d by judicial proceeding persons having a present interest (i.e., subsequent lien creditors). in the realty or prior claim on (3) creditors with prior en the realty under North Carolina cumbrances of record to the ex property law, as of the date of tent that he makes subsequent the attachment of the security in advances. terest. For the secured party to Category 1, subsequent pur obtain priority over these prior chaser, is self-explanatory with real property interests, it is neces the inclusion of purchasers at fore sary that they consent to the secu closure sales-other than an en rity interest in the particular fix cumbrancer purchasing at his own tures in writing and subordinate sale. their interest thereto. Under the As for category 3, the question statute, a disclaimer of interest immediately arises as to whether will serve the same purpose and or not mechanics' liens will fall the secured party will obtain pri in this category and be pre-empted ority in this way. by prior recordation. Apparently, Subsequent Interests: mechanics' lienors will not have Priority over subsequent inter- priority as the statute. refers to Page 7 the date of obtaining the lien by and date of perfection controls as judicial proceeding, not the date to future parties. the lien becomes effective by rela Purchase Money Security Inter tion back to the commencement ests: of work. As for category 3, the mortgage Briefly, a purchase money secu for future advances, the statute rity interest claimant is defined as is clear that the secured party will a seller of the collateral who takes have priority over subsequent ad a security interest to secure all vances made after perfection of or part of the purchase price or the security interest. The above a lender who gives value to enable rule applies under the UCC ir the debtor to purchase the collateral respective of whether or not ad from the seller and the advance is vances are obligatory or optional actually used for this purpose. on the lender's part. A purchase money security in In any event, the above rule will terest in fixtures will have prior place an additional burden on a ity over prior or subsequent secu title attorney who certifies title rity interests in the fixtures, if per on a construction loan, as the stat fection is obtained within 10 days ute is clear that the real estate after the debtor actually receives mortgage lender will not obtain possession of the collateral. The complete priority up to the prin UCC states that the purchase cipal amount of the mortgage over money security claimant will have a secured party whose security priority over other secured parties, interest intervenes between periodic lien creditors, or bulk purchasers, disbursements. by 10 day perfection, but they will GS 25-9-313 obtains one addi not have priority over other pur tional clause which will appear chasers for value who take pos extremely bothersome to the real session of the collateral prior to property title examiner. Even as perfection of the security interest, suming that the security interest even if perfected within the 10 is not perfected by filing a financ day period. ing statement or similar document, If the purchase money security the security interest will still have claimant does not perfect his lien priority over any of the parties within the ten day period, he loses in any of the above categories who any purchase money priority he have actual knowledge of the se might have against any prior se c u r i t y interest of the secured curity interest, such as an after party. Therefore, there must be acquired property clause. He will both "no knowledge" and "no per also lose priority as to subsequent f e ct i o n" for a subsequent pur security interests which are per chaser or subsequent lienholder to fected prior to the perfection of prevail over the holder of a se the purchase money security in cured interest in particular fix terest. tures. The above rules are included to In summary, a good rule of thumb inform the title examiner of real to remember is that date of attach property, the different rules which ment controls as to existing parties a pp 1 y on priority of purchase Page 8 money transactions under the UCC good which will become a fix as contrasted with North Caro ture? lina property law. The UCC ob One of the principal times a viously must employ a "time test", title examiner will be required to rather than a contemporaneous re certify title to fixtures is during cording test as under North Caro a construction loan. The statute lina property law, as the financing is patently clear that a secured statement will be the only docu party who perfects his interest will ment filed or required to be filed have priority over construction under the UCC. ad vances made after such perfection. The above rules relating to pur Also, the chase money transactions in fix holder of a real estate interest tures will affect the real property in land will want to know whether or title examiner primarily in situa not he can prevent a secured party tions in which a security interest from removing the fixture from attaches to fixtures prior to the the realty upon de fault. This will be time that they are affixed to the determined by whether or realty and it is necessary to de not the re a 1 estate owner or lienholder will termine whether or not the par have pri ority as to the particular ticular secured party will have pri fixture. If he does, he must expressly ority over other competing secu con sent to the removal. rity interests in the same collateral. If he does not, he has In summary, a title examiner no legal right to pre vent the removal, will be faced with a number of per but he is en titled to be reimbursed plexing problems which will not be the cost of repair of any physical resolved by an analysis and exam injury to the real estate caused ination of the public records. Some by the re moval. of these problems are as follows : The persons who 1. When did the security inter w i 11 receive such removal reimbursements est attach to the goods? are owners and encumbrancers 2. W h e n was the fixture at cf the real estate, other tached to the realty? than the debtor. The UCC does not determine 3. Was the good affixed to the how such reimbursement will realty prior to the perfection be divided b e t w e e n dual of the security interest? interests in the realty (such as mortgagor 4. What p a r t i e s have actual and mortgagee), and knowledge of any unperfected it would appear that this is one of the many security interest or an im open q u e s t i o n s yet to be properly filed security inter resolved in North est? Carolina. 5. Is a transaction a purchase money transaction as defined POST CONVENTION by the UCC? TOUR 6. If so, when did the debtor TO obtain possession of the col HAWAII lateral? WATCH FOR 7. How can you readily develop ANNOUNCEMENT a back chain of title for a Page 9 THE NATIONAL CONFERENCE OF LAWYERS AND TITLEMEN DESCRIBED AS AN OPPORTUNITY TO SERVE THE PUBLIC INTEREST At its mid-winter meeting in New Orleans, the Board of Governors on February 21, 1968 appointed Thomas S. Jackson of Washington, D. C., as the General Counsel of the American Land Title Association. On the following day, Mr. Jackson addressed the meeting on the subject of the National Conference of Lawyers and Title Men created by the Presidents of ALTA and the American Bar Association re spectively. ALTA's conferees who were in attendance heard Mr. Jackson begin by emphasizing that speaking "first and foremost as a practicing lawyer," he is deeply concerned that the recently ac tivated movement in the American Bar As.sociation for creation of a national bar-sponsored title insurance company is contrary to the interests of lawyers generally and is harmful to the public. How ever much more money the few lawyers engaging in a what they call a title practice may make through the creation of such a bar sponsored title insurance company--and there is no evidence that they will make any more money-nothing will compensate the Bar for the serious, perhaps fatal, loss of professional status which will certainly follow. A summary of Mr. Jackson's remarks follows:

he newly created Conference of that this practice is like their own; client representatives of the Ameri that the lawyer represents a T exclusively for can Land Title Association and the and what he does is is not American Bar Association has a that client. But usually that of prac God-given opportunity to produce the case. It is not the kind of Ethics. a set of principles to bring order to tice that fits the Canons is pri the mixed-up thinking regarding The lawyer whose practice is in a the proper roles of lawyers and title marily devoted to titles He cannot rep men in real estate transactions. "middle position." parties as a law The solutions to the controversy be resent any of the is in con tween lawyers and title companies yer, because each party Also, if he is cannot include, for the benefit of flict with the other. bar-sponsored any of the interested parties, the a participant in a his primary entry of the American Bar Associa title guaranty fund, to the fund. tion into the commercial insurance allegiance is necessarily criticism applies to him industry. The same at lawyers who are Many members of the American as is leveled of title companies. Bar Association who are not en employees "practice" gaged in a "title practice" assume The larger part of the Page 10 of the title lawyer, which propo "case." He will disburse with his nents of the bar-sponsored title in own checks to seller, lien-holders surance fund seeks to protect, is dif where liens are to be discharged, ferent from the practice of lawyers real estate taxes, transfer taxes, in other fields. In most cases, the Federal tax liens, etc. title lawyer is the only lawyer in the In this situation his middle-posi transactions he handles. He under tion is more analogous to a trustee takes to represent all of the parties, than to that of a lawyer, advisor or notwithstanding that he usually re advocate. He cannot identify any ceives his reference from a con one of the parties as his client, that stant business producer, such as the is the person to whom he owes the real estate broker, or a lending lawyer's duty of absolute fidelity. agency. He alone makes the title ex His incentives center on protecting amination, renders an opinion as to the common source of continuing the state of the title, draws all the business, who may be lender, real instruments, orders title insurance, estate man, or land developer, but holds the settlement, prepares the the other parties do not fully under statements of account for all par stand this if, indeed, they under ties, disburses all the money, and stand it at all. This situation has records the papers. Usually, no oth produced abuses many of us know er lawyer is expected or invited to about, such as the examination, appear for any of the other parties. without charge, of title to a large Since the average home buyer is tract to be developed on the expec misled into thinking that he is get tation-or promise--that he will be ting independent legal advice any employed to handle the transac way, he sees no need to go to the tions for separate lot-buyers or extra expense of employing a sepa home-buyers to whom the developer rate lawyer just to look after his in sells. terests. If ocassionally one does so, The lawyer's title business is of it is not because he is invited to do ten a lucrative one. In addition to so by the title lawyer. This puts the his fees, there is untold economic title lawyer in the position of do benefit in banking substantial es ing all the work for all of the par crow funds. He takes not only a ties and presumably obligates him lawyer's fee for title examination, to advise them all. His charges may but additional fees for drawing in be borne, according to the practice struments, notarization of papers, in his community, by several of the settlement fees (for handling es parties, not merely by the one from crows) and in many areas he takes whom the matter was referred to as much as half of the premiums him. He will prepare the deeds, the for the title insurance, either di notes and the first mortgage, and rectly or through a company he the notes and a second mortgage, or owns as an "agent" for the insurer. the notes for a deferred purchase However adequately these charges money mortgage (here acting for may be justified as proper compen both one or more lenders and one sation for work actually performed or more borrowers), and perhaps (although I doubt if the legal pro even a lease (here acting for both fession is generally aware of the di lessor and lessee) all in the same vision of insurance premiums) they Page 11 do not qualify as legal fees where compete with others in the same the lawyer is not representing a business. It is a fundamental now of single client. the American concept that free and This raises a fundamental ques fair competition is in the public in tion: Is this "title practice" the terest. practice of law, or is it a business "The Conference of title men and in the commercial sense? It is not lawyers has a great opportunity'', enough to say that a lawyer may Jackson concluded. "I sincerely do business this way. That is not hope and believe all of its members the issue. What the Conference recognize this opportunity, those must do is to define that part of representing the Bar and the title the private practice of the title law industry alike. I choose to believe yer which is exclusive to the law that their deliberations will result yer; that is to say, where the courts in an agreement upon principles and the legislatures in the public which are in conformity with pro interest will and should protect him. viding the public with security and In all the rest of his practice, the confidence in real estate transac public interest requires that he tions."

ABOUT THE AUTHOR Thomas S. Jackson, a senior partner of the Washington, D. C. law firm, Jackson, Gray & Las key, is a Fellow of the American Bar Foundation and a Fellow of the American College of Trial Lawyers and a member of its Board of Regents. He is a Past President of the District of Co lumbia Bar Association. On behalf of the American Land Title Association, Mr. Jackson submitted to the Board of Governors of the American Bar Association a statement in opposition to the action by the ABA Board of Governors to sponsor a national title insur ance company. Mr. Jackson, "a lawyer's law yer," is uniquely qualified to represent the ALTA, having many years of experience in the practical as well as philosophical concepts of real estate law.

Page 12 PROPOSED AMENDMENTS TO THE CONSTITUTION AND BY-LAWS OF THE AMERICAN LAND TITLE ASSOCIATION Publication of these proposed n accordance with the provi amendme1nts in Title News shall con sions of Article XI, Section stitute official notice to members, as I 1, of provided in Section 1 of Article XI of the ALTA Constitution and By the Constitution and By-Laws. Laws, it is recommended that Sec Submitted by the ALTA Committee tion 1 of Article VI, Sections 3 on Constitution and By-Laws. and 4 of Article VII, and Article VIII, of the Constitution and 'By Chairman-CHESTER C. McCUL LOUGH, Senior Vice President Laws be amended in the manner Chicago Title Insurance Company set forth in the following para Chicago, Illinois graphs in order that the names of CLARENCE M. BURTON, Vice Pres the Sections be changed to "Title ident and Secretary Insurance and Underwriters Sec Burton Abstract and Title Com pany tion" and "Abstracters and Title Detroit, Michigan Insurance Agents Section," that the "Liaison Committee with the PAUL F. DICKARD, JR., Vice Pres ident-Title Operations National Association of Insur Commercial Standard Insurance ance Commissioners" and the Company Fort Worth, Texas "Federal Legislative Action Com mittee" (being now special com JOHN J. EAGAN, Vice President and mittees) become standing commit Senior Title Officer Title Insurance and Trust Com tees of the Association, to provide pany that the Immediate Past President Los Angeles, California of the Association be a member WILLIAM F. GALVIN, Vice President of the Executive Committee of Guarantee Abstraet Company the Board of Governors, and to St. Petersburg, Florida change the requirement that no RICHARD H. GODFREY, President two members of the Standard Title American-First Title & Trust Company Insurance Forms Committee be Oklahoma City, Oklahoma from the same state, territory or Page 13 district: 4. Amend the first paragraph of 1. Amend subparagraph (a) of Section 4 of Article VII to in Section 1 of Article VI by in sert after "Judiciary," the serting, after the words "Title words "Liaison Committee with Insurance," the words "and the National Association of In Underwriters" - so that the surance Commissioners," and paragraph will read as follows: after "Legislative," the words "(a) Title Insurance and Un "Federal Legislative Action derwriters Section, which Committee," so that the para shall include all active mem graph will read as follows: bers who or which shall be a "The President within thirty title insurer or who or which days after election, shall fiB fide agent of shall be a bona expired terms and vacancies, a title insurer, and" if any, in the Liaison Com (b) of 2. Amend subparagraph mittee, the Grievance Com Section 1 of Article VI by in mittee, the Standard Title the word "Ab sert in g, after Insurance Forms Committee stracters," the words "and and the Standard Title Insur Title Insurance Agents"-so ance Accounting Committee that the paragraph will read and shall appoint all mem as follows: bers of the Planning, Judici and Title In "(b) Abstracters ary, Liaison Committee with s u r a n c e Agents Section, the National Association of In which shall include all active surance Commissioners, Mem members who or which shall b e r s h i p and Organization, serv provide an abstracting Legislative, Federal Legisla ice to the public, whether or tive Action Committee, Pub not an agent of a title in lic Relations, Constitution and surer." B y-L aw s Committees, and 3 of Article 3. Amend Section Young Titlemen's Committee, VII to insert a comma after the and such other Committees as phrase "Chairman of the Fi may have been authorized by nance Committee" and to insert the Board of Governors or by after the said comma the words the members at any conven "the Immediate Past Presi tion, each to consist of a chair dent"-so that the Section will man and such number of read as follows : members as he shall deem ad "EXECUTIVE COMMITTEE: visable, unless otherwise pro The Executive Committee of vided." the Board of Governors shall be composed of the Presi 5. Amend the second sentence of dent, Vice President, Treas the fourth paragraph of Sec urer, Chairman of the Fi tion 4 of Article VII to insert nance Committee, the Imme the words "more than" after diate Past President and the the first word of that sentence, Chairman of each Section. so that the sentence will read: The President shall be the "No more than two members Chairman." shall be accredited from the Page 14 same state, territory or dis ance, to promote sound legis trict." lation and regulation, to pre 6. Amend Section 4 of Article vent unsound legislation, and VII to insert, preceding the to accomplish other desirable, last paragraph thereof, the fol lawful objectives, with the lowing paragraphs: understanding that any un "The Liaison Committee with dertaking or agreement on be the National Association of half of the American Land Insurance Commissioners shall Title Association shall be be composed of a Chairman subject to ratification by a and five other members, each majority of the Board of representative of an active Governors or the Executive member of the Association. Committee of the Association Each section shall be repre prior to approval and adop sented on the Committee." tion of such undertaking or "The Federal Legislative Action agreement." Committee shall be composed "Sec. 14. THE FEDERAL of a Chairman and four LEGISLATIVE ACT I 0 N other members, selected from COMMITTEE shall review different geographical areas such pending federal legisla of the country." tion and proposed changes in 7. Amend Article VIII to renum- rules and regulations of fed ber certain sections, as follows: eral departments and agen Present Section Number cies which might affect the 11 15 19 title industry as are submit 12 16 20 ted to "it by the Association 13 17 21 staff for the purpose of ad 14 18 vising the staff and shal.l re port to the membership on New Section Number such matters. The Committee 12 17 21 shall make recommendations 13 18 22 to the Executive Committee 15 19 23 when it concludes that action 16 20 is needed by the Association And to insert the following new to support or oppose pending Sections 11 and 14: legislation and shall partici "Sec. 11. THE LIAISON pate in resulting needed ac COMMITTEE WITH THE tion, when authorized by the NATIONAL ASSOCIATION Executive Committee, by OF INSURANCE COMMIS either contacting directly or SIONERS shall work and co by arranging for contacts by operate with the National As other Association members sociation of Insurance Com with senators and congress missioners, or the appropriate men in congressional commit committee or committees tee members home areas, and thereof, in order to further a by testifying before congres more complete understanding sional committees if appro of the business of title insur- priate." Page 15 A CONFERENC

"PUBLIC I:r "TECHNOLOGH ARE THEl MID-WINTEl

President Alvin R. Robin opens the business meetings Thursday morninir before a packed house. t was the best attended Mid-Winter Confer I ence in the Association's history. More than 450 titlemen and women gathered at the Roose velt Hotel in New Orleans to visit, to I.earn, to speak, and to make important decisions. Conditioned by a promotional appearance in the office of the Mayor of New Orleans, a meet ing with the National Conference Committee, an all-day meeting of the Executive Committee, an appearance at the meeting of state officers, a fast-moving Board of Governors meeting, two receptions and several breakfasts, ALTA's President Alvin R. Robin presided over an ac tion-packed general session on Thursday morn ing, February 22, and again on the following day. The ALTA president introduces U. A summary of the remarks of Thomas S. whose speech to the Conference deleir Jackson appears elsewhere in this issue of Title News. A copy of Congressman Hale Bogg's speech will appear in a future issue. A unique approach to section meetings was developed by Title Insurance Section Chairman

Title Insurance Section Chairman Alvin W. Lonir tried some Newly appointed General ( thinir new-and it worked! audience spellbound as ht TO REMEMBER

:REST" AND , REVOLUTION" 3 FOR 1968 :ONFERENCE

Stewart Morris (right) presents a "special tribute" to William L . Bramble, who is retir ine from the title profession. Alvin W. Long. One feature was a panel dis cussion, "The Title Insurance Industry From The Customer's Viewpoint," conducted by four representatives of life insurance companies all members of the American Land Title As sociation. The panel discussed many subjects of extreme importance to those who were pres ent. Indicative of the advantages of advanced planning, the meeting of the Abstracters Sec tion was so filled with items of general inter est that Section Chairman Thomas J. Holstein was forced to adjourn the meeting long before all the topics were introduced. There was a sad note at the 1968 Mid-Winter Conference. William L. Bramble, Associate tgressman Hale Boggs (D-Louisiana) General Counsel of The Life Insurance Com as roundly applauded. pany of Virginia announced his retirement. In recognition of his years of active and effective participation in the association's affairs, the Board of Governors voted unanimously to pay a "special tribute" to Mr. Bramble. A beautiful plaque will be presented within a few weeks.

Thomas S. Jackson held the There wasn't time for Abstracters Section Chairman Thomas J. tered a course for titlemen. Holstein to cover all the subjects su&"rested for his section meeting. HISTORIC MAP PRESENTED TO MAYOR At a City Hall ceremony on ..f-\. Monday, February 19, ALTA President Alvin R. Robin was awarded the key to the city of New Orleans and named as an honorary citizen by the city's Mayor, Victor H. Schiro. President Robin, assisted by Carol B. Hart, President of the Louisiana Land Title Association, gave to the City a framed repro

duction of an 1812 plan of the Alvin R. Robin smiles prou~ly as Mayor Schiro presents a key to the city and a cer original city and its suburbs tificate of honorary citizenship. drawn by Jacques Tanesse, City The unusual nature of the sales Treasurer and Surveyor, which de was the decision by the City Al lineated the sales of no-longer dermen in the City Council not to needed land surrounding the sell outright, but to hold public Vieux Carre which once had held auctions at which the "capital" the earthen fortifications and cit price would be determined and adels originally laid out and con then to levy a 63 annual and per In structed as bulwarks against petual rent which could not be 1700's dian attack in the early paid for a period of twenty-nine following the settlement of New years. Thus the still-growing vil Orleans 250 years ago. lage could obtain revenue while Monetary needs of the city of private owners could develop the New Orleans in 1810 prior to the much-needed land surrounding the admission of Louisiana to state Vieux Carre on such important a unique hood were solved in streets as Esplanade, Common, of lands manner in the disposition Rampart, Canal, Royal and many no longer needed to defend the others. city from Indian attack. The manner of such continuing Carol B. Hart (right), President of the L'!uisi debt to the City is of importance ana Land Title Association, assists President Robin in presenting a historic map to Mayor to land abstracters, attorneys and Schiro. title insurance companies whose business it is to insure titles for the present-day transfer of real estate. The Tanesse map will pro vide a starting point for such re searchers who can then determine whether the original ground rent inscriptions have been cancelled in the mortgage records of the Parish of Orleans. BUSINESS FIRST; THEN PLEASURE It was a hard-working group of titlemen and women who met in New Orleans, which seems to be one of the favorite cities of the nation's abstracters and title in surance company officers. During the course of the business day, they became deeply involved in discussions of such subjects as out-done himself in planning for "Pros And Cons Of A Rating Bu the entertainment and enjoyment reau"; "Current Development In of ALT A members. There were Real Estate Law"; "Recent Legis "dubloons", wooden nickels bear lation Affecting The Title Indus ing the insignia of the American tries"; "Amendments To The Con Land Title Association. There was stitution And By-Laws"; "Losses a seven piece real, low-down, Resulting From Mechanics Lien Dixieland band who staged a min Claims." iature Mardi Gras parade for the One very important feature of guests. There were special Mardi the Title Insurance Section pro Gras decorations, an ALTA han gram (another innovation by dicap race at the famous Fair Chairman Alvin W. Long) , was a Grounds, and a special display panel moderated by Daniel S. providing information on where to Wentworth on recent technical in go and what to see in the glam formation releases issued by the orous city. Internal Revenue Service. Jack Rattikin, Jr., and his But there was also time for Young Titlemen's Committee put on play. Things really began with the a special party Thursday evening, traditional reception and cocktail which was attended by many of party in the Grand Ballroom of the "young at heart" but some the Hotel Wednesday evening, what older in years. February 21. Here could be de After hours the delights of the tected the fine hand of Carol B. city were explored until the wee Hart, President of the Louisiana hours. Land 'Title Association. Carol, to All in all, it was a grand meet gether with his committee, had ing.

WALTER JUDD TO SPEAK AT CONVENTION

ho is A m e r i c a's finest W speaker? Opinions will vary, of course, but included in every conversation on the subject will be the name of Walter H. Judd. We are pleased to announce that Dr. Judd has accepted President Robin's invitation to address the members of the American Land Title Association Monday morn ing, September 30, at the 1968 Annual Convention. Dr. Walter H. Judd was born in Rising City, Nebraska. He worked on a farm every summer until he graduated from high school; then worked his way through the University of Ne braska and its medical school by various jobs-dishwashing, man churches and colleges warning aging a cafeteria, night telephone about the menace of Communism operator in a hospital, playing in and Japanese militarism as both a band on summer Chautauqua were expanding in China, he re circuits and teaching zoology at ceived a Fellowship in surgery in the University of Omaha. 1932 at the Mayo Clinic in Roch He enlisted as a private in the ester, Minnesota. In 1934 he re United States Army during World turned to Asia, this time to North War I and was discharged a China where there was no malaria. Lieutenant in the Field Artillery. When Japan's armies captured In 1925, under the Foreign Mis his area he was under their con sion Board of the Congregational trol for five months. What he saw Church, Dr. Judd went as a medi made him feel it imperative that cal missionary to South China. He we stop building up the Japanese survived bandits and Communists war machine. He came home in but repeated attacks of malaria 1938 to carry that message to during the six years he was there more than 1400 audiences in 46 forced his return to the United states in two years. In January States. 1941 he resumed medical practice After recovering his health dur in Minneapolis. After Pearl Har ing several months of speaking in bor, many people from all seg- Page 22 ments of the community urged Dr. absolute integrity." Judd to become a candidate for Dr. Judd is now a Contributing Congress. He was elected in 1942 Editor of the Reader's Digest, and served for twenty years as provides a brief daily commen Representative from the Fifth tary on world events on 900 radio District of Minnesota. His major stations, and continues to speak efforts have been in helping to de to interested groups all over the velop the new and vital role country, particularly in college America is compelled to play in and university communities. He today's contracted and danger has appeared on many nation ously divided world with its wide radio and 'TV programs. threats to our very survival as a Some 60 million Americans heard free nation. him give the keynote address at Twenty-five universities and the Republican National Conven colleges have conferred on Dr. tion in Chicago in 1960. Judd honorary doctorate degrees. The opportunity to hear the In a Congressional Poll, he was great Dr. Judd is worth the cost voted by his colleagues in the of attending the 1968 Annual five most influ House one of its Convention in Portland, Oregon. ential members, the only one so But he is only the first of many named from the minority party. outstanding speakers who have He was selected by his Republi scheduled for the Conven can colleagues as the Congressman been issues they "most admired." The New tion program. Watch future York Times had said: "Among his of Title News for additional in greatest assets is a reputation for formation. AVALUABLESALESTOOL

"A PLACE UNDER THE SUN"

Page 23 EDUCATIONAL PROGRAM FINANCED BY INDIANA MEMBERS

he Indiana Land Title Associa past session and reported their dis T tion concluded one of the most position. successful conventions ever held in The importance to abstracters its 61-year history in the luxurious of fire insurance was stressed in surroundings of Stouffer's Inn in an informative and entertaining Indianapolis, Oct. 22-24. An excel talk by PNTI agent Charlie Jones lent program of active business of Lebanon who related the prob sessions and hospitality was cli lems encountered during and after maxed by voting approval and spe the catastrophic fire at Columbus cial funds to finance a complete 2- Abstract Co. earlier in 1967. Joe year course in abstracting at Vin Waymire, President of Rowland cennes University to commence in Tit 1 e Company, Anderson, also September 1968. gave helpful suggestions for pre Outstanding speakers held the venting or minimizing loss from attention of a near-record crowd fire. during Monday's opening session. Betty McCormick presided over Alvin Robin, Tampa, Florida, Pres the activities at the ladies luncheon ident of the American Land Title on Monday in the Tabard Room Association delivered a well-re on top of Stouffer's Inn. The ladies ceived address with special empha enjoyed a millinery presentation sis on the activities and plans of entitled "Keep It Under Your the ALTA national program and Hat." On Monday evening the In- the overall state of the industry. Mis Officers of the Indiana Land Title Association Arthur L. Reppert, Liberty, fo.r 1968 are (I to r) 1st Vice-President, Virgil souri, a past-p re s i d en t of the M. Miller, Indianapolis; President, Karl S. Holwager, New Castle: Secretary-Treasurer, ALTA, discussed, "What About Jack H. Johns, Indianapolis and 2nd Vice Abstracters Liability Insurance?" President, Gerald H. Ewbank, Lawrencebar1r. He covered several little-known factors which can be important to abstracters in planning their in surance programs or in making claims. John R. Carr, Jr., Indian a p o 1 i s attorney and legislative counsel for the Association re viewed bills important to ILTA which were introduced during the Page 24 augural Banquet and the installa tion of officers was followed by a diversified dance program ar ranged by Kathryn Anderson of the Jordan College of Music of Butler University. The "emphasis on education" theme stressed by this year's con vention was marked by the ad dress delivered Monday by Dr. 1968 ILTA President, Karl S. Holwairer, New Castle is seated while 1966 President Lloyd Isaac Beckes, the dynamic presi Finch, Marion (center) presents the Past Pres ident'• plaque to 1967 Preaident Robert S. dent of Vincennes University. He McCormick, Vincennes. spoke eloquently of the need for Junior Colleges and the functions they can perform for the state by possessing a great flexibility in curricular programming. V.U. can in order to get the program un provide a two y e a r "practical" derway. The advance is expected to be replaced course of instruction in many areas when necessary by a of business and industry-from special educational assessment flying to land title technology-and of ILTA members. This program grant degrees to successful can has been the ambition of the as didates. Vincennes University, with sociation and its leaders for sev several thousand students, has had eral years and its c o m i n g to phenomenal growth. Its ability to fruition is the result of hard work draw students is not limited to on the part of the several officers its "local area" in southwestern and committees and the general Indiana. Marion and Lake Counties support of the membership. It is are among the greatest student exciting and satisfying w h e n a contributors in Indiana and there "trade association" can point to are students from every Indiana such achievements in answer to county, many states, and some the perennial questions-"Why be other countries. long?" or "Why be active?" At the Tuesday morning busi The Monday session concluded ness session the role of the ILT A in education was further developed with the election of officers for in talks by Karl Holwager and 1968. Officers elected were: Pres Virgil Miller. Th e educational ident, Karl S. Ho 1 wager, New plans were received with enthusi Castle; First Vice-President, Vir asm and concrete action was taken gil M. Miller, Indianapolis; Second by the granting of full approval Vice-President, Gerald H. Ewbank, for the Board to proceed with its Lawrenceburg; and S e c r e tar y plans for a two-year course in ab Treasurer, Jack H. Johns, Indianap stracting to be offered by Vin olis. Elected to the Board were: cennes University. The Board of Robert S. McCormick, Vincennes; Directors was authorized to use M. Leon Sullivan, Indianapolis; and $2,000 of the ILTA reserve funds Waldo F. Beebe, Muncie.

Page 25 Other directors chosen at the meeting were James P. Castberg, Vice President; Sarah Donley Steadman, Secretary - Treasurer and Roy P. Hill of Casper.

TITLE INSURANCE AND TRUST TO REORGANIZE The Board of Directors of Title Insurance and Trust Company re cently announced its intention to submit a plan of reorganization to the shareholders of the company for approval. Complete details of SHOSHONE TITLE NAMES the planned reorganization will be OFFICERS contained in the proxy statement Dan R. Price, President of Sho for the company's forthcoming shone Title Insurance and Ab annual meeting which will be mail stract Co., Inc., Cody, Wyoming,. ed to shareholders in the near fu announced that Charles G. Kepler, ture. has been elected to the position of In essence the plan is to change Chairman of the Board of Direc the company name to The TI Cor tors of Shoshone Title at its an poration (of California) and con nual meeting held February 5, vert it into a general. business 1968. corporation. The present name Ti Mr. Kepler replaces Robert R. tle Insurance and Trust Company Rose of Casper. Mr. Rose will re will be adopted by a subsidiary main as a member of the Board which will carry on the title in of Directors. surance and trust business of the present company without inter ruption. National title insurance 1968 officers of the Shoshone Title Insurance and Abstract Co., Inc., are from left to right: operations will continue to be car Charles G. Kepler, Chairman of the Board; Dan R. Price, P.resident. Seated: James P. ried on by two other subsidiaries, Castberg, Vice President; Sarah Donley Stead man, Secretary-Treasurer. Pioneer National Title Insurance Company and The Title Guaran tee Company of New York. In addition, two other subsidi aries, Realty Tax & Service Com pany and C a s c a d e Microfilm Company will continue to do a tax service business and a record re production and microfilm busi ness in a number of the western states. Jeffries Banknote Compa ny, another important subsidiary, will continue its activities as one of the nation's leading companies Page 26 in the securities printing, finan he also attended San Francisco cial printing and color lithography State College. fields. WESTERMAIER The purpose of the change in ELECTED corporate structure is to permit PRESIDENT OF R/ W ASSOCIATION greater flexibility and thus aid in the future growth of the company. F. Victor Westermaier, Jr., a The present structure does not Vice President of Chelsea Title permit the company to effectively and Guaranty Company was re meet the c h an g i n g conditions cently elected President of Garden which face it nor to utilize its fi State Chapter # 15 of the Amer nancial strength to the fullest ex ican Right of Way Association. tent. There are many areas in the Over 250 members belong to the insurance, financial and other State Association which meets fields not now open to the com monthly on all educational phases pany which can be investigated of right of way and related work. with the objective of achieving Mr. W estermaier is presentl.y in growth and expansion when this charge of the Eastern Regional change has been accomplished. Sales Office of Chelsea Title lo cated in the Fidelity Building, 123 WONG PROMOTED South Broad Street, Philadelphia, AT PIONEER NATIONAL Pennsylvania. Roland Wong has heen appoint Mr. W estermaier is a past presi ed Business Development Repre dent of the New Jersey Title As sentative for the Title and Trust sociation, and a member of its Division of Pioneer National Ti Board of Governors; a member tle Insurance Company according of the Delaware Valley Council, to an announcement by Herbert and the South Jersey Development Altstadt, Vice President and Divi Council. sion Manager. Wong joined the company in CHRISTENSEN ASSUMES NEW 1964 as a customer service repre POST FOR TITLE INSURANCE sentative in the Portland Office. AND TRUST A graduate of Cleveland High The appointment of Robert G. School and Portland State College Christensen as Director of Sales

WONG WESTERMAIER CHRISTENSEN

Page 27 for the California-Nevada Opera meeting in the Sheraton West tions of Title Insurance and Trust Hotel. Company, has been announced by A s e c o n d generation Califor Hale Warn, Senior Executive Vice nian, Cerini was born in Oakland, President. received his A.B. and LL.B. de Immediately prior to his new as grees at the University of Cali signment, he served as Corporate fornia, served in Los Angeles as Business Development Representa the Executive Officer and past tive in the firm's San Francisco President of the California Land Division. Title Association and President of A native of Edmonton, Canada, the Land Title Insurance Co. Christensen is a graduate of the He is legislative consultant to University of Alberta, Canada, the Home Builders Council of Cal and had a broad range of busi ifornia, director of the Building ness experience prior to joining Industry Association of California ·the title company in 1963 as an and its Residential Builders Coun escrow officer in the company's cil, on the Technical Advisory San Mateo County Operations. In Committee on Open Space Lands 1966, he assumed the Corporate of the California Legislature, and Business Development responsibil on the Subdivision Advisory Com ity in the San Francisco Division mittee to the Real Estate Commis and was elected a Vice President sioner. in June of that year. HARRY M. TRIMBLE RETIRES CERINI ELECTED PRESIDENT The retirement ·of Harry M. OF S. CAL. MORTGAGE Trimble from 'Title Insurance and BANKERS ASSOC. Trust Company, has been an Floyd B. Cerini, Vice President nounced by Ernest J. Loebbecke, and Assistant General Counsel, Chairman of the Board and Presi Title Insurance and Trust Com dent. pany, was elected President of the At the time of his retirement, Southern California M or t gage Trimble served as Vice President Bankers Association at its annual and Chief Advisory Title Officer.

CERINI TRIMBLE

Page 28 A native of Dallas, Texas, Trimble nized by the Board of Directors to joined the title company in October, more readily identify Stewart's in 1929, and has served as a title ex surance function with the mass pub aminer, long order title examiner, lic and to modernize the company's assistant manager of the title de public image. partment and his current position. Noting that many old and large During World War II, Trimble companies throughout the United served with the United States States in recent years have under Marine Corps and has been ex taken this step in order to simplify tremely active with the American their communications, Maco Stew Legion. art said: "Major corporations are faced STEWART ADOPTS NEW LOGO with an increasingly complex prob Distilling the essence of the title lem of communicating with their insurance function, Stewart Title public and it was our feeling that Guaranty Company will mark its Stewart Title needed a dramatic 72nd year of operation in 1968 with vehicle to tell our story quickly and the introduction of a new logo ex effectively to the public. pressing the theme, "Sanctity of "Essentially, our business is Contract." guaranteeing contracts between To develop the concept conceived men. The wheels of business would by board chairman Maco Stewart, grind to a halt if free men did not a world-famous German sculptor honor their contracts. In fact, it was commissioned to do a 16-foot would have been impossible for bronze statue, recently emplaced in civilization to make any progress front of Stewart's new Dallas office. without men keeping their con The statue depicts two men hold tracts. ing and agreeing upon a contract. The Company's new Dallas office, It is being reproduced as lapel pins located at 4919 North Central Ex to be worn by Stewart employees pressway, is an ultra-modern 10,000 and also in approximately six-foot square-foot building. The struc sizes for display in various Stewart ture, along with the 16' bronze offices from California to Florida. statue, was recently dedicated by Replicas of the statue are being Robert G. Storey, President of the incorporated as an integral part of Southwest Legal Foundation. Vice Stewart's letterheads, title insur president and District Manager of ance policies, other printed mate-· Stewart's Dallas office Is Wiley rial and in the company's adver Alliston. tising. The German sculptor responsible The phrase, "Sanctity of Con for the "Sanctity of Contract" tract," is also being adopted as a bronze is Seff W eidl, whose works company slogan to emphasize the have been exhibited in virtually all role of Stewart Title in assisting capitals of the world. men to keep their contracts. Carloss Morris, president of The decision to go forward with Stewart, said research of contract a dramatic change in the Com law reveals it is probably the oldest pany's logo reflects a need recog- and most relied upon field of law in Page 29 man's history. progress through the centuries." "One of the earliest contracts was the covenant between God and NEW OFFICERS ELECTED AT Abraham concerning the establish CHICAGO TITLE INSURANCE ment of the Jewish nation, as told co. in the 17th chapter of Genesis,'' he Alvin W. Long, President of said. Chicago Title Insurance Company, "Contracts are the apparatus of wholly-owned national subsidiary free enterprise whereby persons of Chicago Title and Trust Com create their obligations and per pany, has announced the election of form them. two new Vice Presidents. "Sanctity of Contract probably James W. Bayer was elected had its beginning in the fact that Vice President and continues to although there was no early Eng~ have direct responsibility for co lish common law under which ordi ordinating the operations of the nary everyday contracts could be Guaranty Title Office in Nash enforced, the Church felt it was an viJ.Ie, Tennessee and Home Fund open sin to break plighted faith and ing Company, Inc. in New York. these obligations were therefore en He assumes responsibility for the forced by Ecclesiastical courts. coordination of the operations of "In due time, the common law General Title Service Corpora gradually adapted itself to the en tion, St. Louis, Missouri, and con tinues forcement of these contracts and as a member of its Board today, modern transactions involv~ of Directors. He also continues as a member of ing property and commerce could the Board of Di rectors of the Kansas City not be carried on without con Title Division and will assist in the co tracts,'' Mr. Morris said. ordination of both "It is difficult to over-emphasize Kansas City Title Division and Home Title the importance of title insurance in Division operations in New York America's modern, fast-paced econ with the Chicago office. omy,'' he continued. James E. Tyson was elected a "Our new logo expresses the part Vice President and has been ap Stewart Title Guaranty Company pointed a member of the Divi plays in human society. In our sional Board of the Title Guar offices, free men gather to perform anty Company of Wisconsin Divi contracts, to place families in sion, in Milwaukee. Continuing to homes, schools in their quarters, serve on the Divisional Board of companies in their physical plants the Lake County Title Company and churches in buildings. Division, Crown Point, Indiana, "We guarantee, under our con he continues to have coordinat tract of title insurance, ownership ing responsibility for the Indian of these properties to the owners apolis Branch Office from Chicago and the lien of the mortgage to the and for reinsurance in Chicago lender. Title Insurance Company. "We are proud to continue our Mr. Bayer joined the staff of growth across America with a sym Chicago Titl.e and Trust Company bol so deeply rooted in mankind's in 1952 and until 1965 served Page 30 with the company's Law Division. apolis Branch Office. He received He was appointed an Attorney in his A.B. degree from Ohio Univer 1959. After spending nine months sity in 1952 and his LL.B. degree in 1965 in the Personnel Depart from Western Reserve University ment on a series of special as in 1957. signments, he was appointed an Assistant Secretary of Chicago ORGANIZATIONAL CHANGES Title Insurance Company in 1966. AT KANSAS CITY TITLE That same year, he was appointed William M. McAdams, Divisional an Assistant Vice President to President of the Kansas City Title assist in the administration of the Division of Chicago Title Insur operations of Home Title Division ance Company, has been named and other affiliated operations. He Chairman of the Divisional Board received an A.B. degree from of Directors, and Chief Executive DePaul University in 1949 and a Officer of the Division. He will con J.D. degree from Northwestern tinue as a Vice President of Chi University Law School in 1952. cago Title Insurance Company. Mr. Tyson became associated Sam C. Sherwood, Jr., Vice Pres with Chicago Title and Trust Com ident, has been appointed Division pany in 1957 and has served as a al President and Chief Adminis Final Examiner in the Title Divi trative Officer. sion and as a lawyer in the Law Benjamin L. Grant was named Division. In 1962 he became a mem Assistant Counsel in c h a r g e of ber of the staff of Chicago Title claims. Insurance Company and in 1964 was McAdams joined Kansas City appointed an Attorney. In 1966 he Title Insurance Company as a Vice was appointed an Assistant Vice President in January, 1949, after President to assist in the adminis resigning his post as President of tration of the operations of the Missouri Abstract & Title Insur Title Guaranty Company of Wiscon ance Company, a firm with which sin Division, the Lake County Title he had been associated for 30 Company Division and the Indian- years.

McADAMS SHERWOOD GRANT

Page 31 He became President of Kansas to which he was engaged in the City Title Insurance Company in private practice of law. A native January, 1955, serving in that ca of Excelsior Springs, Missouri, he pacity until the firm was merged completed his high school educa with and became a Division of tion there before entering the Uni Chicago Title Insurance Company versity of Missouri at Columbia. in May, 1967. At that time, Mc He holds a B.S. degree in Busi Adams became Divisional Presi ness Administration from the dent and a Vice President of Chi University of Missouri, and an cago Title Insurance Company. L.L.B. degree from the University A native of Cameron, Missouri, of Missouri at Kansas City. He Mr. McAdams attended grade has been a Vice President of the school there. He completed his high firm since 1959 and has served school education in Kansas City in various capacities including the and enrolled in the Kansas City supervision of Home Office title School of Law, from which he insurance, plant and public rela graduated, receiving a Bachelor tions departments, escrow closing of Laws degree in 1927. Shortly and construction loan disburse after joining Kansas City Title ment sections and metropolitan Insurance Company, Mr. McAdams subsidiaries located in Independ became solely responsible for es ence and Platte City, Missouri, and tablishing the first title insurance Olathe, Kansas. service in Alaska. Though little He is a member of the Divi known, it is because of his pioneer siona1 Board of Directors of the ing the insurance of real estate Kansas City Division, the Mis titles in Alaska, that the Federal souri, Kansas City,, and Clay Coun Housing Administration currently ty Bar Asociations, the University insures mortgage loans in that Club, Lawyers' Association, and state. As a result, some 50,000 to the Rotary Club of Kansas City, 75,000 units have been built in Missouri. Alaska, as well as many apart Mr. Grant joined Kansas City ment structures ranging in height Title in 1966 after practicing law from 7 to 14 stories. in North Kansas City, prior to Mr. McAdams, a veteran of which he was an Intelligence Of World War I, is a member of the ficer in the U. S. Air Force. Born American Legion,. having attended in Independence, Missouri, he at the organization meeting in Paris tended North Kansas City High following the cessation of World School, and received an A.B. de War I hostilities. He is a Past gree at the University of Kansas, President of the Missouri Land and a Bachelor of Laws degree Title Association, having served from the University of Missouri two terms in that capacity. He also at Kansas City. He is a member is a member of the Kansas City of the American, Kansas City, and Club, the Chamber of Commerce, Clay County Bar Associations, Phi and a director of Columbia Na Delta Phi legal fraternity and has tiona1 Bank. served two t e r m s as President Mr. Sherwood joined the Kan of the Sherwood Estates Homes sas City Title staff in 1952, prior Association. Page 32 MEETING TIMETABLE

April 18-19-20, 1968 August 15-16-17, 1968 Utah Land Title Association Montana Land Title Association Park City, Utah Jorgenson Holiday Inn, Helena April 25-26-27, 1968 August 22-23-24, 1968 Arkansas Land Title Association Minnesota Land Title Association Marion Hotel, Little Rock Germain Hotel, St. Cloud April 25-26-27, 1968 September 12-13-14, 1968 Texas Land Title Association New Mexico Land Title Association Robert Driscoll Hotel, Holiday Inn, Gallup Corpus Christi September 12-13-14, 1968 April 26-27, 1968 North Dakota Title Association Oklahoma Land Title Association Holiday Inn, Bismarck Camelot Inn, Tulsa September 13-14, 1968 May 5-6-7, 1968 Kansas Land Title Association Iowa Land Title Association Salina Hilton Inn, Salina Holiday Inn, Waterloo September 13-14-15, 1968 May 9-10-11-12, 1968 Missouri Land Title Association Washington Land Title Association Colony Motor Hotel Sheraton Motor Inn, Seattle Clayton, Missouri September 28, 1968 May 17-18, 1968 Oregon Land Title Association Tennessee Land Title Association Hilton-Portland Hotel Continental Inn, Nashville Portland, Oregon May 19-20-21, 1968 September 29-30-0ctober 1-2, 1968 Pennsylvania Land Title Association ANNUAL CONVENTION Tamiment-in-the-Poconos American Land Title Association May 22-23-24, 1968 Hilton-Portland Hotel California Land Title Association Portland, Oregon Hotel Del Coronado October 24-25, 1968 Coronado Dixie Land Title Association Parliament House June 19-20-21, 1968 Birmingham, Alabama Illinois Land Title Association Bel Air East Hotel October 24-25-26, 1968 St. Louis, Missouri Ohio Title Association Commodore Perry Hotel, Toledo June 26-27-28-29, 1968 Michigan Land Title Association October 24-25-26, 1968 Boyne Highlands, Harbor Springs Florida Land Title Association Hollywood June 27-28-29, 1968 Land Title Association of Colorado October 24-25-26, 1968 Wort H otel Wisconsin Title Association Jackson , W yoming Pfister Hotel, Milwaukee June 27-28, 1968 October 24-25-26, 1968 New Jersey Land Title Association Nebraska Land Title Association Seaview Country Club, Absecon Holiday Inn of Kearney Kearney, Nebraska June 27-28-29, 1968 Wyoming Land Title Association October 27-28-29, 1968 Wort Hotel, Jackson Indiana Land Title Association Stouffe1·s Inn, Indianapolis July 14-15-16-17, 1968 New York State Land Title Association November 1-2, 1968 The Greenbrier Arizona La.nd Title Association White Sulphur Spr ings, West Virginia Valley Ho Hotel, Scottsdale American Land Title Association