The evening world., 1894-02-21
PRESTON IS !.
after Them.
JCDp,inunj from FYra Page. J

JCon,inunj from First Pdge.)
one Hundred and Twenty nth street.
4 few. DAYS ngo r. r.. Davis, an agent
or the Contnercial Loan and Trust Com
pany, called on Mr.. Hornwell. who iSa
engage In that business In a small way,
his wife attended to the station
Mr. Hornwell lacked about 800 OF the
capital he required, and decided to visit
Messrs. Clarke & Johnson. With a view
OF securing n loan for that amount. ne
made his II st payment OF " registration
week. He was told that his applica-
ton for a loan would be passed upon
by the Company In Pniladelphia. ne
was also Informed that the mpan
meeting OF. The Board Of Directors on
last Thursday evening,
MIR. Hornwcil read the expose OF ne
concern In '"rhc Evening World the
Other day. nnl yesterday called at the
n Mr.. johnson. Mr.. Hornwcl was
Informed snat l ne might possibly o. ,aym r%Ge,ve
There Is a clause In the Company's
agreement which states that II the funds
OF the Company are, not, available at
made, action IN the matter Is post
poned.
MIR. Johnson called attention to this
cause, ana ssld perhaps MI ioIn"e-I
would be compelled TO wait perhaps ten
weeks.
III at the end Of ten weeks there are
still no funds available. what them"
Mir. johnson replied with a most per-
suisive smile: "Oh. as n matter OF fact.
there. are always plenty Of funds avail
able"
weekly instruments Of 81 on his share of
stock In the Company, and left the oifice
of Clarke & Johnson in disgust. He says
he Will not go back again. because John
son could not satisfy him that the Com
pany was not a swlndlc.
when Mr.. Hornwell asked Johnson by
what means the. concern paid It's expenses
the laconic reply. Of Johnson was: by
lapscs and fines"
Among the many "shnreholders" who
called on Clarke & johnson yesterday.
not one could be found who had received
the promised loan from Philadelphia.
Both Clarke and Johnson are dong their
best to appear Indifferent to the charges
made by 'The Evening World and 10
n reporter who called they said they
had no statement to make and could
only refer complaints to the Philadelphia
office. ,
In addition to tht uptown Office in
Harlem and the downtown once IN
Broadway. the Commercial Loan and
IONS over In Brooklyn.
Here is the new advertisement OF the
concern which appeared In a local paper
yesterday:
MONEY TO LOAN
In sums from s25 to $500. on furniture, life insur
ance policies, stocks Of mer'n ndisc, real estate
notes. do: repayable In small weekly payments
Open %sysninss antil . o,clocs; G Gsl,s or S write Z
Remsen st., Brooklyn.
The manager Of the Brooklyn office. a
III Remsen street. Is John Cunningham
who claims to be an ex-employeee OF IN
-. N-.-A 49, a Mt 4
Manager Cunningham Is known as NJ
Stockiey."
The circulars ape, printed mater sen
out from the Brooklyn office differ en-
Messrs. Clarke n johnson. The. Brook
Ign p~roRpectus OF the Commercial LOAF
and Trust Company Ia a sixteen paget
AFFAIR, bearing the title, Our Mutua
The little book contains much informa,
ton not made public by The Evenint
World In Its previous articles on I'M
corporated In 1882. and that the direct
ora are G. u. Hoskins. Robert Reach
J. W. McNfaster. A. w. Lowry jr'' AM
In fact the new Brooklyn circular o
the concern sets forth an entirely di1er
ent loan system from that proposed q.
Clarke & Johnson's circulars. here II
an extract:
NATIONAL LOAN SYSTEM.
A a means OF providing 4 hatlohal system !"
dlscounting notes aud Insk,ng loans TO those "h,
have no bank accounts. or do not care To as'
their local banks, hut whose hnan'iti i"Hp"nsl
lily and reputation would warrant them In ap
rninr for a loan, the directors OF IN" CONNER
ciai' offer for sale an AccumnlatiNe lnNes''heh
Certificate. in denominations NJ $500 which 'a'
b., paid for at the rate ~ s. monthly, ~ per CEN
o. which vii, he used to create a fnnh Tor tn
purpose OF mpking loans. The plan ~ adon,r'
meet, The requirements Of all classes, Mh"tlr
a manufacturer merchant. mechanic or house
keeper; all at some period would md II "%n,e
intent to have an interest In an "atabllshed Inst
tuition that can them wi.h II la
In order to oil In u gap aud relieve them from II
emhHiras sinent.
This gap scheme Is payable at III
rate OF 81 monthly. which liz 81 bette
for the concern than CLARKE Il John
sons 81 weekly pay ment plan.
Heretofore the registration fee OF IN
Commercial Loan Trust Company ha
been 81, but the new Brooklyn clrcula
OF the concern raises the limit TO w
Here IL what the new circular say
THE METHOD.
In order TO he entitled to discount. you mus
nrst purchase one or more Of the accumula'iN
Investment certiGcAtes, and pay u registration f.
uf so. and continue thereafter to pay monthly IN
stilneuts OF u on each certificate Tor slhl
certificate. viii be entitled to apply for a dis
count, and may become q borrower. Interest
8 per cent, annually WI b" %"harsed' to be deduc'
ed when the note Is discounted.
Then follows one OF the most remark
able paragraphs ever put In cold typ
Ivy any corporation, financial or other
wise.
REDEMPTION OF CERTIFICATES
Tho proT:' - continuous payment OF III
monthly int ..,mants for u period not -'c'eiin
sNty nonths will eniitls the holder TO receiN
s5OO-the face value OF the ccrtihcate-provide
the earnings OF the COMPANY hayt been sum.is.