The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-05-30
WArs OF LOAN sHARKs
rsiEh Interest ana Sasny Delays the Ezpert-
ence er Que InvestIGntar.

enee OF Que investigates.
Advertisement like this may may be found
in some Of the newspapers:
I ~oANS.-Loans on salaries to responsible persons
- ". $50. So 500; any amounts; easy payments
Sometimes the street number is given. but
nearly all the advertisements give the idea that
money is one OF the easiest things to obtain.
Being OF an inquisittvc nature, n "rcspons iblc
person" started to accomplish the desired end -
$50 in cash rs he is In receipt OF n good salary
and his employment is secure. With the conf.
dence Of a man knowing well his part. on cleva.
tor was taken and the office o. one OF the money
lenders was found in possession OF the Office boy.
what can I do for you r. was the question OF
the young Napoleon OF finance.
Il want to obtain n loan with my coming
salary as security"
How much DO you want! I can take your
application"
Forty or fifty dollars
"We don't loan over S25 or salaries. as tho
security is too poor" replied the hoy with tho
air of one who has learned his part thoroughly.
What is the charge for getting me sc5!
Twenty-Five dollars will cost you -. You
can pay it back along with the SIS at the rate OF
$3.50 a week"
Suppose I pay it back in FIVE weeks, would
that decree Sc the interest p
NO; 1t makes no difference how soon you pay.
the charge is SO just the same"
That is pretty stiff interest for so small an
amount"
We'll. there is a man down on - street who
will probably let you have the money for less
interest. You might see him"
Oh started the responsible person" to call
on the less greedy money lender. About the
srme question was propounded and the state
mpnt made that evarrthinc would ha all riyht
If the consent of the person paying the salary
was obtained. After obtaining the consent OF
the employer, another visit was made to No. =.
but things had changed in the interim. and the
charge for the amount asked for. $50. was
placed at $40. Furthermore a note was de-
handed. to be Endorsed by the employer. thus
making u regular commercial transaction. with
the added danger OF the employers name being
hawked around among the note brokers.
Another money lender was visited and this
time y Young woman with a serious. business
into y 6xs room. and produced a blank confirm
ing nearly twenty five questions. nearly ali OF
which we're OF the most personal character.
After this REORGANIZATION the information
was given that 1.-THE manager would call and
see the borrower at work; but as the applicant
nent in the place it might be a drawback.
him was short II not sweet.
How much do You wantF"
Fifty dollars"
mat VIII cost you 80. ms was said IN q
tone resembling that OF Tim Hurst when hning
an unruly ball pl'yer.
Are you a newspaper man y
No This came hard, but IL was thought il
might secure the loan, for the question gave
warning Of the following:
All right. We don't loan to that class Of peo-
pie, as they change about too much"
In a happy frame OF mind the interviews with
Nos. 3 and 1 were awaited. The next day No. 1
reported: Sorry; can't accommodate YOU
That ended all hope in that direction.
Another visit to No: l was made. and this
lmn the head ." aha rE " prua 81. n 2 hnrna " Ahpnt
the SINE story was repeated as by the of'ce
cents, to $50. A blank form was produced and
a second cr~oss-cxamination was gone through
In this examination 1t was admitted that
another shark" had been visited, but the
money was promised to be ready in a day or two.
Two or three days afterward No. / was seen
again and the loan refused becaus Sc the borrow
er had applied to another money lender. No. 2
was then visited. and the young woman said
that the loan had not been investigated, but
probably would be in a few days. After waiting
over a week TO- developments. the Office of No.
3 was again visited and rhe application blank
was dug up from a pile of miscellaneous papers.
" The m1nager must have been on earth this
time: for the application was carried into
another room and was soon brought back with
the story that the applicant had not worked
long enough in his present place. so the loan
could not be placed.
After about ten days of travel and waiting the
withdrawing employee was rewarded by find
ing out that X money is wanted the best way to
get it Is to earn 1t.