The age-herald., 1897-10-24
MODERN SHYLOCKS
 ON 4 SMALL SCALE John Browning Paid SO2.6O For the
 Use of Si4 FOR LESS THAN TWO YEARS Mr. Bates Scheme For Buying FuFni-
 turG and ReSellil6 It TO THE OWNERS AT A HIGHER PRICE A Certain Amount Had to Be Paid Monthly to Keep the Option to Rebuy Green Chancellor Cobbs Pronounc-
 ed IL Usury.
TO THE OWNERS AT A HIGHER PRICE

1he sum Of $3.75 multiplied icy 22 is $S2.5O. This is what John Browning. an nue between Thirteenth and Fourteenth streets paid for the use of $14 for twen- ty-two months.
 This was more than five times the amount of the principal, and the old me- gro would probably have been paying ss.75 each month for months longer had not the chancery court canceled the con- tract which he thought bound him.
 It is just an incident in many that occurs right here in Birmingham under the nose of civfiza tion and the strong arm of the law. It is just the old story of shrewd Shyloclx bleeding ignorance out of it's flard-earnsd money.
 The case came to light in chancery court in the shape of petition to the chancellor to annul the contract and force the return of q portion of the money. The bill named John Browning and Mary Browning as plaintiffs arid George C. Bates as defendant. Bates has been in business in Birmingham for some years and is now located in Third avenue.
 The biN of the complainants alleged that George c. Bates during 1893 and <xfo vancing and loaring money in small amounts at usurious and extortionate rates of interest. On the 18th day of January, 1893, the complainant borrowed from George C. Bates S14, to secure the payment of which he and his wife gave to Bates bill of sale to one oak dress ing case wash stand. bedstead, and other household property. They were not allowed 10 retain a copy of the in- strumcnt.
 The paper contained a provision allow ing them to retain possession of the property and rebuy it at the en3 of the month for s1775. $3.75 more than the amount borrowed. When the time ar rived for payment the negroes could not raise the whole amount and paid the $375 which, as Mir. Bates claims, gave them the option to rebuy the property at the end of another month. Again they paid the $S.75 and took @ receipt for it. This procedure continued until the negroes had twenty-two receipts, rep resenting an expenditure of sS250, and still Bates claimed they were due him tie principal, s14.
 The negroes knew nothing of the law, It was much easier for them to raise the s3.75 tran the entire amount of $14. They did not realize how much real money they were paying out.
 An agent for MT. Pates would call on them eacl month. By telling them their furniture would be seized upon, they were frlgh tened into raising the rnonthly stipend. which th= moneylender claimed kept their option so rebuy the goods valid.
 The defense of MT. Bates was that he was not engaged in the money-lenGing business He claimed to buy and resell furniture solely. te aumltteu dolng an extensive business on this plan. Some negroes would want to borrow a certain amount. Bates says he told them he would not loan money. If they had any property ne would buy that. To all ignorant negro the offer must have appeared very tempting in the hour of need. Mr. Bates would kindly let them retain possession of the property, with the understanding that they should pay so much each month for the option of rebuying it. The amount would vary according to the price paid fer the prop er;y.
 Mir. Bates said in his testimony, 'I did not charge cornplainants any interest;