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stated," as well as paragraph 7 of the conditions of the policy above shown, such request can be granted.

In the form shown as Figure 277 provision is made to insure the assignee provided the policy is transferred with the consent of the company, which consent must be testified to by the signature of the proper officers endorsed on the policy. The forms of the assignment of the policy are shown as Figure 280.

THE

Guarantee Title and Trust Company,

OF OHIO.

No. 28615.

($5.00

EXTENSION OF

Policy of Title Insurance.

Five 00/100

THE GUARANTEE TITLE AND TRUST COMPANY, by this Extension Policy of Title Insurance, in consideration of the sum of Dollars ) extends its obligations under Policy of Title Insurance No. 19551, to which this is attached, according to all the terms, exceptions, stipulations and conditions of said policy, but not as against the additional matters set forth below.

1:

Judgment for $100.00 damages and $10.13 costs, with interest, against
J. B. Thomas, rendered January Term 1907, in case of W. J. Bower
against J. B. Thomas and others, No. 130,625, Execution Docket 150,
Page 71 in Cuyahoga County Court of Common Pleas.

2:

The Taxes of 1907.

Special Taxes and Assessments of any kind, if any.

In Witness Whereof, THE GUARANTEE TITLE AND TRUST COMPANY hath caused its cor porate seal to be hereto affixed and these presents to be signed by its President and attested by its Assistant Secretary, this Seventh day of - March in the year of our Lord one thousand nine hundred and seven, at 4:01 P. M.

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President.

Attest:

Aset Secretary

FIG. 281.-EXTENSION OF POLICY.

In assenting to such assignments no liability is assumed for defects, liens or incumbrances created subsequent to the date of the policy.

It very frequently happens that the owners of policies, other than that of a mortgage policy, desire that the original policy be extended to cover a subsequent date. This can be done by either of two methods:

First-By attaching the form shown as Figure 281 to the original policy, if there has been no change in the ownership of the title, and

Second-If there has been a change in the title, to cancel and surrender the original policy and substitute, in lieu thereof, a new policy in the name of the new owner with all the attending objections as would necessarily be shown in Schedule "B" the form of which is shown as Figure 279, provided, however, that in either of these two cases nothing has been done to avoid the original policy.

A mortgage policy can not be extended for the reason that the guarantee or liability thereunder is limited, the company guaranteeing the mort

Cleveland, Ohio, April Twentieth 1907.

WHEREAS, Policy of Title Insurance No. 19551 and Extension thereof

No. 28615, guaranteeing the title to Sublot No. 30 in V. C. Leslie's Subdivision
of part of original One Hundred Acre Lot No. 491, as shown by the recorded plat
in Volume 60 of Maps, Page 3 Cuyahoga County Records, issued by THE GUARANTEE
TITLE AND TRUST COMPANY, January 8th, 1907 and March 7th, 1907 respectively,
havo been mislaid or lost;

NOW THEREFORE, in consideration of THE GUARANTEE TITLE AND TRUST COMPANY having re-issued said Policy of Title Insurance No. 19551 and Extension thereof No. 28615, under Policy No. 30506 and delivered the same to Charles F Laughlin, we hereby waive all right, title and claim, which we or either of us may have in, to and under said Policy No. 19551 and Extension thereof No. 28615, and do hereby promise and agree to return said Policy and Extension 80 mislaid or lost to said THE GUARANTEE TITLE AND TRUST COMPANY for surrender cancellation, should the same ever come into our possession.

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gage to be a first lien on the premises secured by the mortgage at the date of record, except what might be spread upon Schedule "B" shown as Figure 279.

It may be well to note that in the event of loss, destruction or mutilation of a policy, the company will, upon satisfactory proof thereof, issue a duplicate of the original policy provided the insured will waive or release all his or their right, title and claim in, to and under the original policy. For form of such release see Figure 282.

Carbon copies of all policies, and their assignments, issued and assented to by the company, are preserved, and a record of all such policies

and assignments is kept in a book especially made and provided for that purpose, termed a "Policy Register," a copy of which is shown as Fig

ure 283.

Figure 283 completes the list of forms used in the issuance of policies of title insurance, and the last thing now to be considered is the worth and value of title insurance as a means of security and protection to the party guaranteed under the contract with the company, which contract may be defined to be an agreement whereby the insurer, for a valuable consideration, agrees to indemnify the insured in a specified amount against loss through defects of title to real estate wherein the latter has an interest, either as owner or otherwise, and against liens and incumbrances charging the same, there being, however, no implied agreement on the company's part to go beyond the conditions of the title existing at the time the policy is issued or to assume a general liability to indemnify against future liens or incumbrances.

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The form and method of such protection is governed by the law of the state where the land is located, the title to which is guaranteed.

In some localities, before a company can issue its policies, it must deposit with the proper state officials sufficient collateral to guarantee and protect the policy holders against loss which they may sustain in the nonperformance of the company's contracts of title insurance with them.

The deposit required for such protection, as above, may consist of gold coin, United States bonds, state securities, stocks, first mortgage loans on real estate and other approved securities, the amount and nature of which are regulated entirely by state legislation.

In addition to this, further protection is afforded by the capital stock and assets of the company.

With this kind of assurance a policy holder may feel fully protected in his investment or guarantee.

CON

CHAPTER XIII.

METHODS OF INCREASING BUSINESS.

ONTRARY to the conditions a few years ago, a consideration of methods of increasing the business of a bank or of a trust company at once suggests the subject of advertising. The dignity of the profession no longer forbids advertising, although success in such advertising still demands dignity.

The successful trust companies of to-day advertise. Their advertisements are not the formal and unattractive cards of former years, nor are they of the cheap and flaring style of the circus poster. Advertising, in the ordinary signification of the word, is of course not the only means used by progressive companies for increasing their business, but it is now firmly established as one of the important means. The change in attitude regarding the expediency of trust company or bank advertising has come in part through the necessity imposed by keen competition, in part through a more intelligent consideration of the ethics of the bank advertising question. It has come, too, as part of a general progress in the art of advertising. Without question the people read advertisements far morc than formerly. Partly as a cause and partly as a result of this, present day advertisements are more readable. The importance of the advertising column or page has increased, and its quality has improved.

REASONS WHY A TRUST COMPANY SHOULD ADVERtise.

The reasons for advertising on the part of a trust company are more numerous and more forceful than those for advertisements on the part of a bank. Aside from the fact that competition makes it, in most localities, fairly a necessity if the company wishes to grow, there are the facts that the trust company has a much wider scope and more features to advertise than has the bank, and that the trust company is still a new institution, whose functions are little understood by the people at large. Comparatively few, indeed, understand exactly what a bank can do for its customers; and fewer still what services a trust company can render. In the education of the public as to the extent and the variety of the trust company's functions, there is virgin soil for cultivation by the advertiser.

There is also a fruitful field for the advertising trust company in the seeking of deposits from people who have never had bank accounts. Nearly everybody has at least a little money, but less than a majority of the people have money on deposit.

It follows that some of the advertising of the trust company must be of the "educational" kind; i. e., must be devoted to explaining what a trust company is, and how it can be used, and to inculcating habits of saving and thrift among the people. The results of such advertising will help the business of other companies as well as that of the advertiser.

Short-sighted, however, would be a policy of refraining entirely from such publicity because of this fact. In the end its effect upon the business of the advertiser, as well as upon the business in general, must be beneficial. The recently formed "Banking Publicity Association" is doing a good work in seeking to distribute the burden of this educational advertising.

The economic effects of this form of publicity by banks and trust companies are of more than passing interest. The principles of economy, thrift, self-denial, abstinence from extravagance are instilled into the minds of the people. In this respect, financial institutions are doing for the present generation what Benjamin Franklin did for his. The evil effects of get-rich-quick and other fake schemes are in part counteracted. Money hidden away in the traditional stocking is brought into circulation and use, thereby increasing the available capital of the general public. The field for robbery and exploitation is narrowed.

DIRECT OR INDIVIDUAL ADVERTISING.

General writers on the subject of advertising divide it into two classes --general advertising and direct advertising. The former is designed to create a demand for the product; the latter, to make sales direct from the advertiser to the consumer. In financial publicity the corresponding classes are educational and individual advertising. Both are intended to increase the business of the advertiser, but it is evident that the latter will, under favorable conditions, produce this result the more directly. However, it is an art which requires skill and tact. Its expediency is nolonger questioned by the majority of bank and trust company officials; yet it is a kind of advertising which must be conducted along lines somewhat more conservative than are proper for other kinds of business. It need not and should not be unattractive and lifeless; but it must not be in any way cheap or sensational. In the minds of some of the people there doubtless lingers some question regarding the propriety of a bank advertising for business. A too strenuous bid for deposits may easily suggest that the company is badly in need of funds, and so tear down rather than build up the business. Above all, trust company advertisingmust be thoroughly honest and straightforward.

MANAGEMENT OF ADVERTISING.

The larger companies maintain an advertising department, in charge of a man specially qualified for the work, and with a corps of stenographers or other assistants. The man in charge is given various titles bydifferent companies-Advertising Manager, Manager of Publicity, Advertising Agent. He should have not only natural qualifications for the work, but also a special training; for advertising is a science the mastery of whose principles and details requires careful study. The advertising manager must understand human nature, possess common sense, be a master of good plain English and have the knack of stating things in clear, concise, attractive and convincing manner. A practical training inbank or trust company work is desirable, and in any event he must thor

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