January/February 1998 - Volume 77, Number 1

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	A Message From The President

	Features

	Congress at Midstream by Ann vom Eigen Although there were legislative victories for ALTA® in 1997, numerous pending issues reflect action during the previous year.

	ALTA® 1998 Financial Profile: Doing More With Less by David R. McLaughlin Once again, the ALTA® member dues payment amount is fully deductible as a business expense because the Association pays the lobbying (proxy) tax.

	Conference Offers Direct Insight House Majority Whip Tom DeLay and Fannie Mae Vice Chairman Jamie Gorelick head a sparkling program that will focus on leading issues and priorities during the ALTA® Mid-Year event in Washington March 16-18.

	ALTA® Abstracter-Agent Survey Shows Average Revenue Near $1 Million by Mark A. Bilbrey and Richard W. McCarthy A vigorous performance by 126 larger firms helped produce this showing; operating expense averaged 80-85 percent of total revenue, regardless of company size.

	Equitable Subrogation Unsettled by Lawrence P. Heffernan, Esq. Counsel Lawrence P. Heffernan comments on a decision in which the United States Court of Appeals for the Seventh Circuit has denied First Federal Savings Bank equitable relief because the financial institution procured title insurance.

Features