, 1891-03-21
CHEAP MONEY.
Unlimited Loans at 5 Per Cent Per
Annum.
A Slight Formally of a SIS Advance
Fee.
Plenty of Applicants But Few Bor-
rOWers.

Money to loan il amounts to suit
borrowers. Rates 5 to 6 per cent per an
mum. Room 2. Whitehead block, zoos,
Eddy street." This advertisement in a
city paper has apparently attracted much
attention during the past two days and
callers at No. 2 Whitehead block haye
been numerous. The opinion of most of
these callers, however, is that the adver-
tisement is part Of snrewd scheme being
worked by an artist of the Pierce piano
stripe of fakir to obtain money in ex-
change for wind.
A well known Cheyenne contractor
called at Room 2 yesterday and said he
wished to borrow $l5,0 900 at 6 per cent per
nun He gave q list OF first-class city
property worth fully $50, 900. which he Of
fered as security. The money lender of
room . said the loan would be made. The
securities looked all right but the property
would have to be looked at and for this a
paid in advance. Then s. would have to
paid to examine the title. These fees
were of course very moderate and the
contractor said he would willingly pay
them, but he didn't care to pay until
be was sure the loan would be made or
good reasons shown why it should not be.
But the rules OF the money lender we're
inexorable aud the negotiations for the
Sl5 OOO loan were susnan1a1
There were at least forty applicants Tor
loans Yesterday. Those who advanced
the 50 were assured loans would be made
them and they could get their money 10
about ten days. Those who didn't put up
the IS got no promise of a loan. Per
haps they are better off han those who
did.
Last evening a LEADER man and T.
JEFF Carr went to Room 2 to negotiate a
loan. They found the money lender to be
a short, heavy. set man of Jewish cast OF
features. He had thick black side whisk-
ers and keen black eyes hidden under
heavy eyebrows. a loog scar across the
forehead did not add to his good
looks. His business cards, which
had evidently Just come from
the printer, were scattered over his
table aad were as follows: "R. Johnson
general agent for a New York Loan and
Trust Co Room >. Whitehead block
The visitors explained hat they wished
to borrow some money and gave Mr..
johnson a list of property which he
laboriously noted with a dull pencil upon
a tablet. We can make the loan all
right" said the moneYed man, you can
get $1,000 for two years at 5 per cent.
First. however, you Will rave to pay IS
for appraiseweut fees ard s. for an
abstract.
Then the question wa asked: why
is 1t you charge s. for sppraisiDg one
piece of property. when you only charge
the same amount for a dozen pieces?"
well, it's a rule of the company was
the reply. "Who will appraise the
property, we would like to go with him
when he looks it over?' asked the would
be borrowers. oh, he's a Denver man,
who will be here IN time to look at it. You
Just pay your IS and the appraisement will
be made and you will get your money"
An offer vas made to pay SO for the
sppraisement after the loan was made but
with Mr.. Johnson all fees must be paid in
advance, its one of the rules of the com
pany," and negotiations were declared off
and the visitors left.
Later several real estate men who had
attempted to secure loans for customers
were seen and all had had the same ex
perience. No trouble to get a loan, only
a slight hitch when the formality OF put
ting up the advance fee was mentioned.
Another advertisement by the occupant
Of Room . informed the public that a
young man could have employment at
good wages by calling and giving security.
Several Young men called yesterday and
applied for a Job. They were promised
work at 800 n month. Their duties
would be to collect the interest on $780,
900 which is to be loaned IN the city. As
n matter of form they must deposit 500
in cash before entering upon their work.
One OF the applicants who visited Mr..
johnson to learn his mode of procedure,
accepted a situation aud is expected to
show up today with his 500 bonus which
secures the job. Mr.. johnson, however,
should not be violently surprised if he
does not come.
1t is the opinion of a number of those
who called on the money lender Yesterday
that he is a fakir and that the advance
fees for appraisement will vanish with
him long before the end of the ten days
in which loans are to be made to his custo
mers.