The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-11-08
NO GILT BALLS
Flare Out as a Sign For Munic-
fpal PaWnshOp.
The Chicago Loan Office in
Quiet Spot.
MANY WANT MONEY.
Great Care Exercised By Those
in Charge.
Rival Concerns Watch the City
Office Work.
MANY WANT MONEY
JeWelry and Personal Property
Taken at One Per Cent.

Chicago. Nov. S.-There are no gaudy
gilt and f1aring signs before the othce
of the State PawnerS' society at %
Washington street; no flaming sign in
the window. The Office is in rear
room on the second floor of the building
in a spot actually hard to find, and yet
it was crowded all of the first day OF
it's existence by persons anxious to Sc
cure loans on their personal property at
a reasonable rate.
The majority of the men and women
who have applied for loans seem to be
respectable. Most of them have jewels
which they offer as collateral.
At l: 80 o'clock in the afternoon about
20 persons were standing in line at the
window waiting their turn to be served.
OF these three were women in widows
weeds, and two were policemen, there
not to watch the crowd. but to borrow
money The men and women were be-
ing waited upon as fast as their pledges
could be examined, and this had been
going on all day. Up to that time about
as applicants had been accommodated
and $500 loaned. while many had been
turned away.
Manager Shields said that some few
persons had come with the evident in
tention of cheating the society. In fact,
the first applicant in the morning OF
wanted S75, and the expert at the office
decided the ring was not worth more
than $50. The applicant went away
angry.
Several city employees have made ap-
plications for loans. offering to give
lien on their next months salary as Sc
curity. There is no arrangement to &C
commOdate them at present but they
are told to come back tomorrow, when
it is thought it can be arranged to make
loans of this kind. Many applicants
Il
away.
Agents of the Clark street pawnbro-
kers were present during the morning,
it is said. to watch the methods in
vogue. They predict a speedy downfall
of the new concern, and it is even said
that they will try to unload many of
their unredeemed pledges upon it for
the purpose OF breaking its bank, dis
posing of them at a loss if necessary.
Manager Shields laughed when told
of their predictions.
I'VE have funds in hand to keep US
going for three MONTHS he said, land
by that time I suppose we will increase
our capital stock. 1 have grown up in
this business. and think I know it
thoroughly"
The greatest care is exercised by
those in charge in accepting pledges.
Nothing but jewelry. diamonds, and
personal property likely to sell readily
if it should not be called for is accept
ed.
The new venture, should it prove sue
ceSSIul, IS HkeIy TO Work reVolutlon IN
the personal loan business. Only per
cent a month is charged. in place of the
ordinary large rates of interest, and a
reasonable amount of money is ad-
vanced on pledges.
The officers Of the company are: J.
V. F'arweu Jr., president; E B. Butler,
r. A. Reyes, N. C. BigeIow, E. G. Fore
man, Dunlap Smith, and John G.
Shields, directors; G. H. Shields, bust
ness manager.
Mr.. Smith represents the city. The
Office force consists of a clerk and as
sistant Each day a report is made to
the detective department of the loans
made. The office is arranged similar
to any modern business office