The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-11-27
THE ART or LOAN MAKING.

THE ART on LOAN MAKING.
Manlind's General Honesty Trusted n Good
Denl-Circumstances that Guide One Con-
Germ in Parting with Its Money-Nature
of the Inquiries Made-Stories Revealed.
There is q place in New York where q per-
son who has no friends can borrow money.
The story that follows was told to a Sun re-
porter by a man who got a loan Of 800 when
he did not know any one in the city Of whom
20 borrow % cents.
Il went to the place." he said. "and said to
the man at the desk. I want $780, He pulled
a blank from a pigeonhole and asked me my
name. When I had told him, he said: 1t
won't cost you as much as il your name was
johnson or jackson or Brown or Smith, When
1 asked him what that had to do with It, he
said: "A good deal. Yours is an
name. 1t won't.take long to find 1t in the rec
ords. There are many Johnsons and Smiths
and Browns and Jacksons. 1t will DO so GEMS
less to you. because time is money. Where
do you live?'
II gave hin my address, and he put IL op-
posite my name. I have q small apartment.
and 1t is not luxuriously furnished. The man
at the desk said he would send a man to see it.
and q man came. looked through each room.
made q few notes on q card. and went away.
AS he was leaving he said: Call this after
noon 1t was then noon. l called in the
afternoon, and the same man was at the desk,
and in the same position. The papers on his
desk looked as if they had not been molested
since my first call. The man at the desk acted
cost you ssStv.o44 for sixty days W.I and You pay h
strictly confidential. The bank discounts your
paper from date. We don't. You, pay the
principal weekly. How much a week can YOU
pay} u..
and said; You won't be able to pay al! at that
have to renew the loan at that time. And You
will pay the interest on tho balance DUE He
Would be asked IN an ordinary transaction. 7
once had TO answer more when l wanted to
fSs ad Sn rsse4 WE'RE at w a s { in h 9hsIr aasgses ss
blanks. and / signed the document. Then an:
other document, was made out and / signed
the foregoing Then the man folded the
paper. put it in a pigeonhole. counted out 500,
handed me the bills. said good afternoon. and
our True he s. held 2 g II tel mortgage Rh t e.. for 9 Sc Sc;
nori obligati Rel0e eGea as R Would f have .f been WAS ias
friend, i had had one. II all seemed 50
day, l was stranded. The next day l was
flush: and the money came from a man who.
%istenee. A man does, not usually stop TO ask
how he gets out OF n hole. as long as he knows
he is out; BHS am m more CURIOUS thar some,
man almost followed me when | left. He
went to the records, and. as my name was an
was no entry against me to indicate that | was
ever, hard up. In fact. my name was, not there
home. that l lived there. lie learned it from
the lanltor, from a grocer nearby, from the
druggist and from z nearby butcher. have
about my credit without exciting the suspi-
clon Of any OF whom he INQUIRED. And when |
the man at the desk knew more Of me than
a amy b5td IN toT GIdi io 0ot my gn grocer @ Mns druggist smbs
8 rassed Iu'f The s ira ger did hdo" i was 'ni0aF-
And still l was not satisfied. / went back
to the stranger and l asked: Do you lend
money with as much ease TO every one as you
did to me?' If the applicant is all right was
the reply. How do you know THAR asked
How do you know l won't move my furnture?
How do you know / won't sell it and never
y" There are such people, he said quietly.
We presume every man to be honest. That
an application is made we follow it mp immedi-
made there Is no loan and that settles the
transaction so far as we are concerned. There
Ing population, fairly well. We come pretty
near knowing the mar, who moves frequently.
We have his name. at least. We come. pretty
bills. Such men as ! have mentioned may boat
n landlord or a butcher or a grocer. or they
claim as a friend. but they cannot fool us often.
Yes. we are imposed upon. as every business
ileye our applicants are honest. We endeayor
TO have a man fee, when he Is driven IN here
that We save hin, that W believe he Is honest;
q man or a woman comes TO US honestly there
l. notrouble. Fewsuoh people fail to pay. And
not lose the loan He did not say how. But
he looked rs II he knew.
'sometimes.' he continued. there Is such
q case rs this: A woman came In for q loan.
When she came the second time | told her we
could not accommodate, her because she had a
InortGage on her household goods. which she
II and she was so sincere In her manner that
knew there was some mistake, And yet
there was the mortgage on record. The truth
came out, The woman had a relative. n wo-
man, who was In a desperate strait. She made
s slI ca 70 a broker for a loan and The man
who had come, to sec Es, Her relative by
some womanly device. got her out Of the house
the day, the appraiser called. and the woman
who had made the arrangement was there and
showed him through and referred him to the
people In the neighborhood who knew the gem
nipe occupant OF the house. The, relative oh
taIned the money and but for the relatives
have been a sca4dal in that family. ~
There are others who try to fleece us.
people who do not come for loans. We have
People who want 70 pay prefer this. In our
business. But there are men-we lave had
tain the names and addresses Of our patrons.
ana then call as collectors, and sometimes sue,
coed in intimidating a woman SO that she will
tons In this business than were ever seen on a
stage, by, as ! said at ne start, we md thai
a aisposltlon 9h or PAR TO be honest creates
that disposition. for | take Il Ii a man 10 not
honest before, he comes In here nothing that
Incorporated under The State law, and II is
conducted by men who, are willing 70. help
iattsT Nil asaI bpnesiiv 9,bSt Re- III W. We askP