The Springdale news., 1889-09-20
A PAWNBROKER'S TALK.
One Fourth of All Gold Watches Find
 Their Way to "My Uncle"

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 Their Way to "My Uncle"
 Do you know said one Of the most prominent pawnbrokers in the
 city to me the other day, "that over forty per cent. of all the gold watches purchased find their way eventually into a pawnshop? Well, it is so. And 1 believe it would be safe to say that over fifty per cent. of them do. Of high-priced watches the percentage is much higher. Just go around to the first-class jewelry stores. Find out how many gold watches they sell in a l year, and then come back here. will 1 give you some figures that will startle you. Here you see three large safes. l Every one of those safes is filled to overnowing with gold watches. Some of them are almost new. How do 1 account for it? l will tell you Most gold watches are purchased by young men when they commence to roll high. They believe that they are not in the fashion unless they have a fine gold watch with an elegant chain attached. The chain, however, is not regarded as a necessity. The watch shows for itself. Naturally, as all young men just commencing to feel their oats de, they get in with high-roIlers and learn to play poker or become fascinated with some equally aIluring game of cards. What is the result? In every case eventual loss. What can be relied up- on to raise some money? They hate to ask friends; il is too far off until pay day, so they fall back on the watch. Repairing to some respectable pawn shop, they put it up, and generally for good sum. Sometimes they rally enough to redeem it. Oftentimes they do not. That is why almost 10000 watches are pawned ia Chicago every year.
 You think the figures 10000 10 high? Listen to me. l average three watches a day the year around. That is about 1,100 watches. Now figure out the number of pawnshops in the city, the number of private bankers,' the number of private loan offices and the number of sharks engaged in the business on the quiet, with DO H. cense, and 10, GOO is nowhere. Gener- ally less than half the value is loaned on a good watch, although to person who is supposed 10 have abundant chance to recuperate and who is looked upon as good more is advanced We keep tae watches for two years and never find much diff culty in disposing of them to good ad- vantage. Men seeking bargains fre- quently come here looking for them and then again We sell a good many to the trade. We gct hold once in awhile of grand Jurgenson Swiss watch and can dispose of this class of goods to high-toned customers at tempting lig- ures. Next 10 watches, diamonds are most frequently pawned, but there are not so many of them in circulation. 1 have known the same diamond pin to be pawncd and redeemed by five diff fercnt men inside of twelve months. But that is nothing. l know of q dia- mond which has been presented to three different aldermen and two coun- ty commissioners, in stars. Iteame back here every time. It=is outagain, now. and l suppose will be back in time to figure in another presentation. Dc pawnbrokers get rich? Invariably, when they take care of themselves and their money When they do not, they fail. One thing that this business has taught me is the very small amount of capital possessed by the average man. But then, how many more have no cap ital at all Chicago Times.