Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-04-11

hour OF need. We do not pretend, how
ever. to do a banking business primar-
lily, and when a gentleman applied Tor
loan Of $50 on the ground that be pre-
ferred to get it from US and pay per
cent. interest rather than draw his de-
posits from the bank, he was promptly
refused.
Our method of procedure is as fol-
lows:
The applications are attended to as
nearly as possible, other things being
equal. in the order of their reception,
but preference is given to wage-earners
with families of small children, and in
many cases we have taken immediate
action TO prevent the eviction OF fami-
lies from their homes, and TO save pur-
chasers of household effects on the in
stallment plan, from the lossof their
property. Appraisers visit the homes
Of applicants and appraiSe the value OF
tho property they wish to offer as secu-
rity. References are required ffGm
each applicant, and before anything
further is done these references are
seen and their testimony taken
in regard TO the charater
Of the applicant who has used
their names. AS an additional safe
guard. q search is made at the Regis
ter's Office In every case, TO make sure
that there is no incumbrance already
on the property offered for security.
When all these points are satisfactorily
settled, notices are sent and the loans
made, each borrower paying fee SUI
fcent 10 cover the actual expense OF
fling and preparing papers, making
search and the fee OF notary. The orig
iuals Of all chattel mortgages are kept
and copies fled with the Register. Our
blank form of application contains the
name in full, the amount Of loan, the
security, present residence, previous
residence, kind and location Of business
and questions which call for inforIna-
ton as to the purchase OF the property
offered as security, insurance on the
same, etc.
A notion got abroad almost as soon as
the bureau was opened that it was to
be pawnshop, and people came with
all sorts OF property from bundles or
clothing to mechanical devices on which
they wished TO raise loan. do not
think we shall ever add a pawnshop to
the bureau, as there is sufficient field
for our efforts along the line we have
begun to explore. Besides, 10 is the in
tention Of the Providsnt Loan Associa-
tion, which is in course Of Organization,
TO establish that branch OF the business
1t Is my candid belief that we are en-
tering upon an era which will see de-
cided change in the treatment or the
poor, and the substitution of credit in
stead OF charity. A little timely credit,
wisely bestowed, helps to make men in
dependent and IL is we'll known that
most men VINO have got on In the world
have done SO through having this ad-
vantage at the critical turn in their
lives. Most of the great commercial
houses and financial institutions would
be driven to the wall at times II they
were not able to secure credit sutl'
Client to tide them over. Some
thing must be done by the
Legislatures, aud perhaps by
Congress itself, TO prevent the poor
from being preyed upon by the usurers
as they are at present. We investigated
the case of woman who borrowed $50
from loan broker, and was obliged To
give him a note for S67 so payable in
four months and this is lower than the
rates frequently charged. In many
cases, on loans of S25, premium of SO
a month is charged. People who have
an abundance Of means can not realize
what an inGcton such an outrage is to
q poor person, and in my opinion some
thing should be done by the law-making
power to place final check on all such
yillany.
l feel confident that our bureau has
been started in the right direction, and
that it is doing good work, but il is not
possible for US TO meet the demands
that are made upon US, and some of our
would-be clients so far misunderstood
this that they make the direSt kind of
threats, because we fail TO give them
the loans they demand, az sight. The
loans thus far made are 10 persons
who. through sickness or lack of en-
ployment have been brought to the
greatest extremity Many Of them are
lawyers, literary men, dress makers,
milliners, mechanics OF all kinds, con-
tractors, teachers, many Of whom are
persons Ol tuuCdblUu duu AChuOmVAr
who must have suffered greatly had
they not received the timely help our
bureau has afforded them.
At least a score Of families have been
saved from eviction through the prompt
granting OF loans, as the agents OF land
lords have instructions TO show them
10 mercy In some cases we have
saved the furniture OF young people
who, in good times, began to pay for
their household effects on the INSTALL
ment plau, and failed ia their final pay
ment through lack OF employment,
when the executions were in the hands
of the sheriff. 1t remains, of course, TO
be seen whether these efforts will be
properly appreciated by the benei-
Charles OF them, and whether the cir
cumstances OF the people so aided will
improve sufficiently to enable them to
meet their obligations, or force US to
make foreclosures to satisfy our claims.
I believe that results will show that
the experiment is wise and humane
one, and that, from business stand
polnt, il will be made q success.
DAVID II. GREER.