The Providence news. (Providence [R.I.]) 1891-1906, 1897-08-10
Sad Condition of a Victim
of a Money Shark.
She Had MOrtgaged Piano
and Furniture For $40.
Finally Relieved Through Kind
Offices of Rev. Mr.. Goldberg.

From many quarters The News is re-
ceiving warm commendation for it's fight
against the money sharks Today Rev. j.
NJ Goldberg well-known preacher and
visitor of the poor, praised the work.
He said he had waited for over two
years TO expose the crushing. remorseless
grasp of one of these kind of creatures.
The reverend gentleman was certain a
time would come when he could get his
story published. He would have waited
many years longer to-do 1t were 1t neces
sary.
The story Rev. Mr.. Goldberg told was
as follows: In 1894 very respectable
widow woman got into temporary iiDan
cial difficulties or what she thought were
temporary. but they unfortunately proved
permanent enoagb. She had plano of
one OF the very best makes and hand
some but not EXPENSIVE furniture.
After thinking about her troubles a
good while and the necessity for money
growing ever greater she determined TO
get loan on her furniture.
she might have sold the piano or a
table and raised the s26 she needed. but
every one knows how a woman hates To
part with.anything in her home
WENT TO A MONEY SHARK.
Without telling any OF her few friends
what she WAS going TO do she went from
her home in the North End to one OF the
loan offices. She was told the matter was
one easily arranged and after few
moments her signature was affixed TO the
following note:
Providence, July Il, 1894
One month after date, for value received,
promise 10 pay Bernice Il. Woodmansee or
order twenty-six dollars, with interest at the
rate OF 10 per cent. per mnoth, payable
monthly till said principal sum is paid,
whether at or after maturity, and all INSTALL
ments OF interest in arrears, whether before
or after maturity. to bear interest at the rate
aforesaid til paid.
(Signed).
This note was secured by the mortgage
on her piano and household furniture. lt
was properly drawn mortgage ana there
vas no escape for the borrower.
The sum of g. 20 per month was paid
.egularly for several months, but every
month il got harder 10 pay this exorbitpnt
and crushing rate Of interest. lt was early
In May, 1895. tha6 Rev. Mr. Goldberg first
sscertained tho sad plight of the poor
woman.
NO FOOD IN THE HOUSE.
One day he called upon her and found
her in a very weak condition. Sho con-
fessed To him that she had no food in the
house and that she was saving the very
little money she could get to pay the
~. 80 She dare not spend cent
The 10th of May, 1896. she received let
ter saying that unless the principal Of the
note was paid by the 18th Of the same
month her furniture would be sold. Rev.
Mr.. sGoldberg found the woman heart
broken over this and he went 10 A. l..
Burdick, TO whom Woodmansee had trans
ferred tho nots.
BuEAieE- E-~ss- asked te reduce the rate
Of interest, 10 take even for that one
month less than the customary rate.
The man TO whom the mortgNge had been
transferred, Rev. Mr. Goldberg says refused
positively to mako any reduction though
the principal had been paid back in
interest or Mt least an amount as large
as the principal.
Rev. Mr.. Goldberg was very indignant
and after dcnouncing Brrdick paid the
debt Of xS6 and the last months interest
OF &. 90. Then the poor woman was happy
and the clergyman waited for his dav
when he could make public the true
nature Of such usurers.
Still another case did Rev. Mr.. Gold
berg cite In which the same Burdick
charged 10 per cent n month on loan
TO a )0r woman Of Sl0. The woman was
finally induced TO sell table her mother
had left her when dying
1t was a hard thing for the woman TO
do. for though tho poor have not many
things Yet around what they have are
tendrils that bind the little to their
hearts