The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-26
SIGN OF THREE BALLS
IT Is NO LONGER A BADGE OF MONEY
MAKING IN THIS CITY.
Pawnbrokers Being Superseded by
Craze Also Affects Them.

histories OF the family, members of which
We're the first money brokers OF Europe. the
coat Of arms has been described as contain
ing six red balls, three gold or blue balls,
and three coins. These conflicting state
ments probably referred to different branches
Of the Medici family. In time. however, a
cluster OF three golden balls came to be
generally adopted as the sign Of the pawn
brokers' shops all over Europe, and the IA
miliar trade mark was taken up in this
country. The patrons of the pawn shops,
making a play upon the family name Of
Medici, called the golden balls money lend
ers' pills" Now. the significance Of the sign
of the three golden balls is known all over
the world, and any man, woman or child,
fortunate enough to possess an article of
value, needs no direction to find a place
where 1t Ear be pawned for a small part of
its value.
In this city there are jnnumerable pawn
shops. but the business is not so extensive
and not so profitable as it used to be, one
broker declared the other day. Years ago the
pawnbrokers had a monopoly on the bust
ness of lending money on diamonds. jewelry
and other valuable collateral. Many a mer-
chant has found it necessary to approach
one of the guild with his wife's diamonds
to pledge as security for enough money to
tide him over a financial or business crisis.
I'm such cases." said a ~pawnbroker the
other day. I'VE were willing to loan almost
the entire value OF the collateral, as we
knew the parties were responsible and would
redeem the pledges. i remember one man
came to me and asked for a loan of 5000
on a diamond necklace. More beautiful or
rare diamonds / nave never seen than those
th. 80 f,1~1 4z-~&I-- H. 49, III
The man told me that he had a note to pay
and could not meet 1t, although in ten days
time his bank account would be replenished
by several large collections that he was to
make. The diamonds were worth $1,000
or $4,000, and. as the man had no objections
to paying the interest-it was high, I admit
Il let him have the money. There was a
rumpus in the family when his wife missed
the necklace and learned where 1t had gone.
She wanted to wear 1t to a ball, and sent
for me to come to her house. I called on her
and she asked me to loan her the necklace
for one night, promising to return it TO me
the next day. 1 refused, Of course. There
was $1,000 Of my money tied up in those dia-
monds. Her husband redeemed the pledge
In ten days and paid the interest without
grumbling." And the pawnbroker rubbed his
hands together with a satisfied air. as he
remembered that several hundred dollars
went into his pockets as the profits Of that
transaction.
do you ever make such loans nowr"
BANKS LOAN ON DIAMONDS.
ooh. no. The banks will loan money on
diamonds, you know" he answered. regret
fully. Its no trouble for a man with 5000
worth Of diamonds to get a loan OF 1000 or
$4,000 from a bank. His note Is taken. and
the diamonds are left as collateral. People
go to the banks because the interest IL
lower"
How do you guard against being I'M
posed upon by thieves? DO you lose much
by accepting stolen goods as pledges?'
mo. we do not lose much money In that
way. Nowadays thieves shun the pawn
shops and do business directly with jewelry
stores and a certain class OF money lenders
who pretend to be better than pawnbrokers.
We get the name or receiving stolen goods.
but not the game. All regular. legitimate
pawnbrokers. men who carry on the bust
ness openly, are compelled TO pay an annual
license OF sioo. A great many men lend
money on jewelry and other collateral who
pretend that they are not doing a pawn
broking business, and by making the pre-
tense that they are loaning the money as
AN accommodation to their friends, and not
for profit they avoid paying the license fee.
There has been a movement to end this
practice. but Il has never come to anything
SO far"
do you have any method OF detecting
crooks?'
I'VE have to judge by appearance and rely
on our judgment. We soon learn to know
legitimate, honest customers. The men who
patronize the pawnshops do so habitually.
1 have had one watch in my place as often
as six times in a year. A fellow gets in
hard luck towards the end OF the month
and comes In here and leaves his watch 'un~
til pay day. Regularly. on pay day, he
comes back and redeems It."
While the p%awnbroker was talking an old
man came in e borrow some money on a
plain gold ring. At first he wanted IS. but
finally accepted 50. and went away grum-
bling because he could not get more.
THAT man is an old soldier" said the
pawnbroker. and that ring was his wife's
wedding ring. Towards pension day he gets
out of money and comes in here to borrow.
The ring is old and worms not worth s.
for old gold-but We know that he viii not
let 1t go, and so we loan the money 10 him"
do you sell many wedding rings?"
1--WE sell a great many rings, but. Of
course. we cannot tell What they are for.
A plain gold ring can be bought for less
money in a pawnshop than of a regular
jeweler. and, after it is polished up. no one
can tell the difference. Solid gold jewelry
can be polished and frightened after years
of wear so that IL looks as good as new.
With plated stuff 1t is different. A few days
ago 1 sold a plain gold ring to a young fell
low who did not appear to have much
money. A day or two afterwards / saw
him pass this shop with a young woman on
his arm. and L learned that they had just
been married. He told me he was poor, but
insisted on having a solid gold ring. All
kinds of jewelry is cheaper now than it was
years ago. Then the setting OF a precious
stone cost almost as much as the jewel itself.
The settings were all made by hand. Now
everything is stamped with dies, and you
can buy a diamond ring, setting and all, for
what 1t would cost to get the stone SET"
BICYCLE CRAZE AFFECTS THEM.