The advocate and Topeka tribune., 1892-11-09
MONEY SHARKS.
Unscrupulous Usurers, and How They
Rlad Their Victims.

clty OF st Louis:
"Could the record of the recorder Of
deeds Office speak, instead OF being q
silent receptacle Of written documents,
what a startling tale of human misery
would be unfolded, and what narratives
Of mans avarice and indifference would
be told. It is there that misery and mis-
fortune stands out as it does nowhere
else. 1t is there that the execu'ioner and,
it might be said, the tiend in human
form, hidden from public gaze, Aourishes
in all his glory. st. Louis has its pro-
portionate part Of these fellows-men
who prey upon the destitution Of fellow
men as the hawk does upon the weaker
members or the feathered tribe, and al
most as Indifferent. The usurer is not
q man OF sentiment, and is as unmoved
by tales OF woe as he is to the forms OF
law. Money and interest is all he lives
and cares fort is his aim Of existence;
all things else are as nothing to him.
THOUSANDS OF CHATTEL MORTGAGES.
According to the records Of the re-
corder of deeds Office, the number Of
chattel mortgages filed average about H.
600 per year. Some Of these 60 over
from year to year, and it is stated that
there are now fled $4,000 chsttel mort
cages on personal property. OF the 49,
600, 14OO0 are on household effects, such
as furniture, carpets, cooking utensils. OF
the $4,000, 10000 are held by well-known
"money sharks" who draw on an aver
age 10 per cent. per month from their
victims, although the law is very en-
phatic and explicit on the subject Of
money.
"There have been numerous cases in
the courts where it was established that
the lender had cole tied from the bor-
rover in interest alone more than 100
per cent. in excess of the money bor-
rowed. In fact, case was tried before
judge Dillon not long since where it
appeared that well-known "shark" had
made $20,0O0 in one transaction in con-
nection with the Ward Furniture Com
pany, which failed about three years ago,
and was then suing to recover 81, 500
additional. Nearly all of these mort
cages are made by people whom want
and necessity force to take such methods
TO prevent starvation. When they are
once in the hands Of the shark, they are
unable to extricate themselves and re-
main there until all their ready cash is
extorted from them. Then the shark
walks 10, takes possession, and turns
their effects over to a second hand dealer.
HOW LOANS ARE MADE.
"The progress of such transactions
from their incipiency to their ending is
about as follows: The unfortunate indi-
vidual wants money, and be goes to Mr.. |
Brown or some other individual to bor-
row 800. Mr.. Brown or his clerk makes
an examination, and finds that the un-
fortunate has about $500 or $500 worth !
of household effects, and agrees to loan
him the m 'ney. A mortgage is then
drawn up, viz:
Know All Men by These Presents:
That the undersigned, John Doe, of the !
city OF st Louis, state OF Missouri, in
consideration of the sum OF one hundred
(S1C0) dollars to him, paid by Mr. Brown,
OF the city OF St. Louis. state Of Mis-.
souri,. do sell. assign, transfer over tn the
said Mr. Brown, his executors, admins
traitors and assigns Here follows des- /
cripti N Of the property upon condition |