New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-06
ENEMIES OF THE POOR.
DEMOCRATIC AssEMBLYMEN OPPOSE THE
PAwNBROKERs ELL.
THEY CALL THE PRovDENT LOAN AsSoclA-
TON PROJECT \ MONEY WAKING SCHEME
THE MEAsURD ADVANCED TO
'rY rrLEeuArH so TIE TRIsrsF-'

THE MEASt KD AIN R.f'isD - -
THIRD READING.
'EY 7rIEGuArH so TIE TRsrsF'
Albany. March "a desperate but unsuccess-
ful assault was made tonight by nufnDer Oh
Democratic members Of the Assembly on the bill
introduced by Asscmbiyman Sheffield OF New
York. providing for the Incorporation OF the
Proyident Loan Association. The attack was
made by such mon as Arthur c. Butts, OF New
York Louis G. Davidson Of New-York ana
John A. Hcnnessy. OF Brooklyn, whose argu-
ments were most spec!ous and whimsical This
measure permits the incorporation Of a large
number of the leading men Of New-York into
a society to loan money u the poor people on their
personal property These men are OTTO 7.
Barnard. Charles c. Beaman. Henry r. Beck
man. William l.. Bull. Frederic Z. Coudert,
Charles +. Cox. John y. Crimmns, r. Fulton
Cutting Robert W. De Forest, William f. Dodge,
Charles 5. Fa!rchild, David H. Greer Abram S.
Hewitt James }. Higg!nson. Adrian Iselin. IT,.
ID. Willis James. John T. Kennedy. Seth Low,
Solomon Loeb Alfred l.. Mason, Victor Mora
wetz. j. Pierpont Morgan, Oswald Ottendortfor,
Jacob H. Scnif. Gustav H. Schwab, Charles ;.
Smith, James Speyer, Walter Stanton, J. Ken
nedy Tod. Abraham Wolf and Cornelius Van
der5iit
lie opposition 70 the Dill was CI"dlcu NANNY
by Hennessy who secured the assistance Of the
Assemblymen named. The discussion was begun
by MI Butts, who declared that the measure
money making scheme. He wished 10
limit the amount OF interest which could be col
lected under the bill TO per cent a year. Mr..
Sheffield. who introduced the measure, opposed
the adoption of the amendment. tie read d
letter from Mayor GilrOy, Of NeWYork, favorng
this charity. Mr.. Butts demanded that it be
nominated IN the bill What the rate of interest
allowed should be. Mr. Ainsw0rth said that this
was a bill which ought to have been passed
several days ago. and passed Just IS it came
from the men VINO drew Il. Mr.. Davidson said
opportunity to be- heard. and he wanted the bill
zen, back to the committee. Assemblyman
HennoSsy made one of his characteristic speeches
against the bill. but did not injure its progress.
Hamilton Fish closed the debate in favor Of
the bill saying that ne deprecated the references
| which had been made t. the rich The Tich. ne
| said. were no better nor worse simply because
| they had means. This was temporary scheme,
and intended only To help along the poor now who
| could get no more money from pawnbrokers. MI.
! Wray Of Brooklyn. made speech in about tn
! same lines.
The amendments were defeated. as well as
the motion Of Mr.. Davidson To send The bill back
| 10 the committee Tho measure was sent 10 d
| third reading.
| An EFFORT also made in the Assembly to-
| night 10 Kill senator Mullinss bill extending n
the savings banks Of this State the right 10 in
| vest their funds in the bonds Of the cities of
| some eighteen States Motions TO recommit and
| Kill IL and to amend il were defeated. and TINS
measure was advanced 10 third reading also