The sun., 1891-01-31
KEPT POOR BY THE USURERS.
YEnSoNs WHO ARE DRIVEN TO 1HR
WALL By THEIR DEMANDS.


are responsible for many cases OF poverty may
strike some OF The SUNS readers as rather
startling suggestion. but many New York law
yers who have had ar opportunity 70 study the
money lenders methods for years past vouoh
for the truth Of such . charge. They have
seen the same Victims held year after year
in the tolls, depriving themselves even Of the
pecsssi,ies OF life TO enrich the loan brokers I"
in whose clutches they have fallen. 1t is
among tho poorer people that these money
lenders have reaped their harvest gathering
4. 100 to 12D per cent. year on their capital
MANY man" said lawyer yesterday. has
Given up tho struggle to obtain an honest live
iibood after an experience with ono Of this gang.
Mia furniture IL swallowed up. perhaps, After
he bs. paid up all tho original principal and
stI,l has $50 or $40 bonus loading him down.
I. II any wonder under the circumstances that
40 many Of the victims are utterly discouraged
and reduced TO absolute poverty2"
since THE Sun began its exposure Of the
rascalties OF the usurlous money lenders
evidence has been pouring In against them
svery day. and yesterday an Investigation BY .
Sun reporter laid bare the inner workings Of
two Of tho most prosperous OF these concerns,
For several years W. Hodman Winslow. who
calls himself q counsellor -at-law. has been
doing a thriving loan business under the
nsms Of the Advance and Discount Company.
ut 1872 Nassau street. In the Vanderbilt build
Ing This concern is An untnoorporatsd AFFAIR.
and in the partnership directory Mr.
has M a. sass two sn Sssnch oc.. 0u, xh.9:
sS r5s 5ans at q Biz hs oasn.s Sns hS q yen ans
and the atss. nln
hs s 81 Tx ssa u. Ybsuf Brooklyn man.
dnsI Dss W Mr. q sFa Ss4
pee What could do. He was quite ready to
S.r .. for s5s1 p %qns n es a. would hsys
VA uaay Tor me- 70 ' s passbe s'sx
r. s ana h: dTfS
SIS. which did. That was the way he had of
swear that he had glyen No the entire ses the
amount that had signed for ~ the pr9missoEy
claim to be a separate transaction entirely.
Il agreed TO pay that SOS In weekly INSTALL
ments Of s each. never saw q. the man nE Pea
winsiows s % branch coneerns In Broosiyn MI last
% man mn "ams$ .: sloss = 4s #iIlcpshty street
Sloan S IT TIN M suS sa, the sD9 place
terred him to the main establishment in the
Vanderbilt building.
lows tolls came to light yesterday: This was
art s x19 70
loan brokers' clutches. She had borrowed $50
from Minslow on ood last tor Jour d m9nths tbs
Was wusr to pay vi s6b back She gave cEattei mort
ssH Der eay nq Ma hs ths
amount % was due noSt hionday., 4nd she was In
mortal fear that her piano would be seized. A
how ns to reesSs % Sas evident Mr.
Bell that she had been harrassed exceedingly
would not lose her piano.
I'D MI P.T
ss e: ::fS F.4e ass' s s'a Il: 81 n:s an
The same Brooklyn map who had dealings
with ssanss eTN,hss the
cd si1o, 4 It's I propristors %ssaueSsds under
the high sounding and ellurtne title Of the
.na &hs 10 Ue sso
not Incorporated and In the partnersh3p al.
Eeetory is are a. d9Ms Lus
the %'S oonesrn M and al the are made through
@ not fhs hs RON xsa S
Hfocks ia %s % siSn az tYo notss: q ons ior
$50 tor the use Of si06 for four months. Then.
acting under his lnstrHctions. ! took he Dgtes
ss .S .i
q m.n u "a, ns x.eks
had to give NOR teage on all Of ny honsehold
which r. Hs a.
sssIsa s's esa|%'SSI SI$ @ once 70 @sEs Kim SR IL
Hates whom each payment was dus: At the top
ns 10 sSfSs 5Sas4 Sss Shfa
"" "s Of 'Ps Psymsnss b. viii tie v soris ord ,rSs:
teo account under It. Then follows list OF
the other note made. Atfthe bottom OF tho slip
Is this warning:
which The above installments become due. az
aases enforced. and the note vim be duly pro.
tested for on-pRyment (at your expense) in
tho event Of your failure to meet the same at
~NiEtli Fidelity 1ndorslns . and ausrsntee Com
Ewn I; Slsh t.1 ~ SaSsixay
Nc oi % khs name on tho s
rather interesting. ~ he aplsarsd on Thurs
yerman crew In tho suit brought against them
by Mrs. Dslsbarre.
iSsa ysm Sa na%ss Of ness answer Ssa
found III Q certain New York IhAper and have
found that they all work Ia together. They All
have the same rate OF $50 for the use Of 500
y ~ black list. upon whioh Il 10 be found ne
name OF every debtor who has been backward
in his payments to any one q them AZ AS. soon On
looked me up and asked about certain loans
had had from inslow. who're ] had failed to
pay up in the prescribed time, and he refused
to lend TO me-"
A suggestion was made to THE Sun yester.
money lenders was to obtain through the Leg
:slaturc. authority for the establishment Of al
institption or bapk. under tae superyisiSGn G S Of
loaued at ne rate q 10 per cent p.r snnpm 3n
ehattel mortgages to persons In neSd Of funds.
This would mean payment q 1 SaD ~ .. whs.s
which Is worth ten times the apount OF the
loan. Several lawyers to whom this PROPOSE
ton was submitted thought that IL Was an ex-
cellent idea,
MIR, hell received q letter from wel-known
LAWYER oi Syracuse himself Z Hsbr.vl yss.sr:
day which throws some Light on the earlier
career OF the Silysrpans In that town.
wa.oi Cd by The residsats q tbs elty with al.
absorbing interest The Silvermans formerly
infested this neighborhood and were about IS
well known here as they are becomtnR krowA
t.. L. tlk hAAFs