New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-11

cent per snhu which within per cent of S %1s5
the royal pawn Offices Of Berlin lent on IN I ayoy
articles 81 81 or aD'9f o6 S ma sum
was 30 cents If renewals from the precious y e
included the total amount invo''ed was s-'7'''
or the 5000 articles upon which Temporary loans p.
10 the extent Of 10000 marks were adva1eeC n
tbe ritv OF Cologne-on- the Rhine in 1912 the
average loan something less than eight ilhl ~,
0T Spo9 remained n unredeeed The Interest varies
according to the amount OF the Ioahs, Dut .ue
apeT rag s n,e Wear In 10000
articles were left security for 10000 marks. once
The smallest sum lent in this place Is 70 cents and
only 10 per Of all the articles pledged nad 90
IL per cent At the close of the year after pay
ing all expenses. $500 was on hand ana ms ms VIZ
added the Pension Fund, set aslde loT the en-
ployes of the institution. .,.,.... lam
Reference is made to the Workingmens Loan or,l
Association. which was started some years ago ago
in Boston. under special charter on lines slmllar
to those Of the Mont de Pete Ine average o io5 S
last year which was on chatel morgages Was 10
and the association Is paying per cent i t
- the stockholders The article closes with t"S
"First-The society would advance as near to the
rc7l value Of the object pledged as saIey Po9-
"Sccond-while pawnbrohers charge at least the
regular of interest. viz. 81 per cent per ahnuh
and sometimes more. this society probably need hot
charge more than II per cent per anlu'n; anu -
years a lesser charge might cover the running eX-
penses and the rate Of interest coud therefore pe
ThIrd-whlle ,pawnbrokers as is well ,b known n;
very rigid about getting what IS que ,nen az
The society could give. say. six to twelve months
time after the loan matnred to rsee tng
OF the amounts lent. by allowing the borrower to
'.Fifth-The borrower If the article pledged by
him had to be sold. after the time of grace hnd eX-
sale al auction and would receive back any amount
that the sale Of the article pledged would realize
over the amount due and expenses Of SALE
HOW IT IS DONE IN RUSSIA.
t. Godenberg. the Editor OF a monthly publication
called Free Russia" tod the writer how the
business Of pawnbroking Is carried on in the Icy
capital OF the great northern empire Of the car
The plan Of the Mont de Pete he said prevails In
ST. Petersburg too. with some variations nut
the principle Is the same. The enterprise IL under
Government control but only gold and silver are
1.-THE average rate Of interest allowed in ordinary
commercial transactions ne sad. - pr en-. ~
institution to charge " You piedxe dozen arl o
or two at "A time; you release them in bulk.
Just they have been offered AMI accepted In the
mes aIowci BY law in St Peiersburg. as We IN
derstand II here nevertheess It Is c1rried under
times heard Of policy shops and other unlawful
concerns benr operrted In this city; m 50 p,onle
charge what they like. You mis- cali them middle
mon but their OCCUPATION you'll be more accur2tey
defined az that Of money lenders The bulk Of inc
poor people go 10 them because they ASK no queS-
lions ard mako no investigations. which Is al
ways done IN the Mont de PETE when the cls
toner is not known or when the methods by which
h" obtained the article arc open 10 suspicion These
moncvl"nders charging whatever they please re-
pledge the articles in The Mont de- Pe'e wherc tho
have OnV - per cont 10 pay, white they Themselves
charge thru" four and sometimes ive times as
much to Tho poor peopln upon whose pledges they
arc growing rich ! am IN favor" said Mr. Golden
horg "of the plan which tho ircOrporators Of the
Prevalent Loan Socttv ~ Ncw-Nor' have IN view
and heiieye. II such an institution wero etarted
here II would greatly beurAt tho thousands of poor
p"oue IN this CITY who often In need ~ money
ard who are obic"i 10 pay such an exorhiiant r2te
as 2o per cent Interest for temporary ac-ommoda
ton"