The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-02-15
ALL MONTHS
ALIKE To THE
CLAIM BROKER
November Made to
Mean January.
C0ULDN NOT OVERREACH UNCLE
CONTRACT DRAWN TO oUTLAsT
ALL ETERNITY.
Double-Action Orders on the Auditor
and Treasurer to Secure the
Payment of Hooked"
Warrants.
CoULDNOT OVERREACH UNCLE
CONTRACT DRAWN TO oUTLAST
ALL ETERNITY.

After waiting over three months for a
portion of their salary 300 of the teachers
did not receive any pay They had yield
ed to necessity and the brokers got their
warrants Only the November claims
were sold, but a warrant-shaver would
never dare look his office clock in the
face If he unsuccessfully went up against
so wild game as a needy school teach
ers salary claim. Some of the employees
of the School Department who had real
lied on their November expectations were
in hopes that the January money was
safe but they had not read the printed
agreement on the orders and promissory
notes they signed. Consequently when
they, leisurely came to the Treasurers Of
flee last Monday they found themselves
too late The salary had been paid and
there was nothing left but a receipt for
the money.
A business agreement with warrant.
broker is a steel-clad contract that will
outlive time itself. 1t oversteps the most
farreaching statute. of limitations and is
good for value received to the uttermost
bounds of eternity. When an impoverish-
ed city employe goes to one of these
exceedingly commercial gentry to "hock'
a claim he or she must put in most of the
day signing the necessary papers. First
there is an ordinary promissory note with
interest; second, another promissory note
secured by the claim on the city treas
ury; third, an order on the secretary of
the Board of Education for the warrant
when signed; fourth. duplicate order on
the Auditor, notifying that official that
the amount Of the claim has been hypoth-
coated; NTH, an order on the Treasurer
forbidding him to pay the same to any
person except the accredited representa-
tive of the broker.
The order on the secretary is to prevent
the delivery of the signed warrant to the
employe; the order on the Auditor is a
check on the secretary, and the order to
the Treasurer will finally catch the valu-
able paper should it by chance slip away
from the other two officials. A warrant
shaver takes no chances.
Notwithstanding these precautions a
number of teachers who had sold and
signed away their November claims hoped
that the brokers interests therein would
be swallowed up in the last months of the
year. The long printed agreement which
they evidently did not read states that
they have assigned demands, claims for
the month of November, 1898, and for all
succeeding months during the existence
of the loan, and that he Cor she) agrees
to assign such demand until all said loans
and interest are fully paid" The en-
ploye also appoints the broker his attor--
ney in fact irrevocably for the purpose of
receiving such demands and he author
ICES and empowers said attorney in fact
to sign his name to any warrant or order
for the delivery of the same until all loans
and interest are fully paid, and the en-
ploye irreYocably directs the secretary of
The Board of Education, the Auditor and
the Treasurer to draw, audit and pay the
amount of the warrant to the attorney in
fact The assignee of the claim also states
that the said warrant for November has
not been sold or pledged to any other
person.
Many Of these orders on the secretary,