The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-02-04
An Enterprise for Lending Money in
New York.

Readers OF one OF the leading daily
newspapers see every day such advertise
mcnts as the following:
A -A.-LOANS MADE ON SALARIES. Ad.
IA dress BoX-at-Ofice.
An unfortunate clerk tells the story of
his experiences with this advertiser, and
from other sources it has been learned
that there are many persons engaged in
the nefarious business.
Il am q clerk, with a salary of twelve
dollars week. Recently was in want
of lump sum of money, and the adver-
tisement of a man who wants to lend
money on salaries caught my eye.
wrote to him, and by the next mail re-
ceiyed his name and address. 1t was
". Rodman Winslow, Room p, Van
derbilt Building. Beekman and Nassau
streets. called at his office, and after
some difficulty succeeded in borrowing
fifty dollars. | was asked how long |
had been in my position q am a clerk
on Nassua street,, then what | was get
ing in the way of salary, and finally
whether the cashier of the firm would
agree to pay my weekly orders from my
salary. | answered these questions, and
said | would make the arrangements for
the payments. On the next day | called
again, and found the papers drawn up.
Under these was to pay six dollars a
week for seven weeks, and eight dollars
for the eighth week But what do you
think the charges were2 First, paid
twenty-five centsf for drawing the articles
of agreement, then | had to pay twenty
five cents more for Notary certificate,
and then forty-three cents interest on
the money for two months. But the
crowning charge was premium of ten
dollars for the accommodation, My
account then stood thus:
Paid for premium. Observation-Disclosures, SO G(
Paid for agreement ..-.....- .---.--.--.-.... -
Paid for notary ACKNOWLEDGEMENTS. q
Paid for interest NEUTRALITY-SUSPICIOUS.. 4;
$40 O:
Received in cash. h.....-....--..--...-....-S $50 Or
Thus, when l paid interest, premium
and fees (which did at the very start,
and had to do under the articles OF agree
ment), had thirty-nine dollars and seven
cents, and was under engagement tC
pay fifty dollars in eight weeks. This,
/ estimated, is borrowing money al the
rate of two hundred and fifty per cent.
per annum. To tell you the struggle
had for those eigh weeks to make both
ends meet at my little home would be
impossible But went through with il
and was finally free from the blood
sucker
''Are there many clerks who patron
ize these uSurerS?'
Hundreds of them. You see the ad-
vertisements are alluring, and most men
are willing to pay well for accommoda-
tions of this kind Of course, they feel
sore when they find that they are pay
ing that ten dollars premium, but they
are in debt to the usurer, for one reason
or another, at all times, and in the course
of year pay him one-halt or perhaps
more, of their salaries. IN y Cor.
Philadelphia Times.
A vessel which arrived at New Bed,
ford, Mass, recently, brought an eagle
which alighted on the masthead when
the vessel was fifteen hundred miles
from any land.-BOSton Post.
There is only one negro in Mon,
tague, Tex, and he is the porter at the
hotel
"A saltwater turtle weighing five
hundred pounds was captured recently
at the mouth of the Sparwink River, il
Maine, by two brothers. The shell was
so large that four boys stood on it and
the turtle was strong enough to crawl
along with this load.-Bosto7a Post.