Pierce Butler

“ Lawyers Mortgage Co., 285 U.S. 182, 52 S.C.t. 350, 76 L. Ed. -. The amounts received as compensation for insuring title, for guaranteeing that mortgages are first liens, and for guaranteeing payment, constitute the larger part of respondent's income. And, when there are added the fees and charges for examination of title, appraisals, and other services incident to its insurance business, the total properly assignable to that business amounts to more than 75 per cent. of all respondent's income. Undeniably insurance is its principal business. ”

“ Its title insurance, not connected with mortgage guaranties, outstanding in each of the five years amounted to more than $100,000,000. Another table [3] states its gross income from sources other than interest, rents, dividends, and profits on sale of bonds, and classifies such income so as to show: (1) The difference between interest received and that guaranteed by respondent; (2) fees and charges attributable to mortgage guaranties; (3) fees and charges attributable to title insurance where respondent did not make nor guarantee mortgages or loans ”