The Elbert County tribune., 1900-01-25

a. baltimore mhkes
Per Cent to People That
s.,.'.fsrs raid Many Times
bts
nost practical charities is
4 2 l,f "sn ps Association of Balti-
~ Nv was organized a little
fa vsar ago that the worthy
y |; y. cIty when compelled to
-. ~ might escape the pay
spa' pas,,rIous rates. Lawrence
Z u, ,hs presldent and w. N.
,hs a. manager. 1t is not a
,,n,,itutIon, =, hut Is conducted
',,,Is business principles. 1t
ss ~, money on sympathy or
M, in every case requires
~ and forecloses mortgages
~, Sefault. The advantages it
tle regular money loaners
~ =, rate CT interest charged
~ psrlleatlon of Justice in the
its accounts. Loans are
Z. Is.oasehoId furniture to worthy
amounts ranging from SO
All interest at the rate Of six
year. the principal to be
rsekly or monthly Install
..S are renewed upon similar
1sis apparent that the borrow
N 10 pay interest or principal
u misfortunes for which he
l, held responsible.
nerson desires n loan he must
,-iIeatIon in writing to the
md state what security he Is
5se. This application must be
|,rIed by a fee Of 81 to pay the
4 appraisement. If the ap-
,oDr;s that the applicant Is of
ssracter and industrious habits
I. the property is worth three
4. ,mount asked for, the loan is
n mortgage upon the furni-
aher property is taken.
,..eiatlon was organized by the
Il Babcock OF the Brown Me
! Surch. President Gilman of
Iuupklns University and other
nractleal beneyolence In Balti-
|.sose sympathy was stirred by
4 klDught them by mission work
|,grning the extortionate rates
n money lenders by the poor.
isoyered one family. which, be-
! 4 employment, was compelled
r. $50 to pay the expenses of a
The broker charged them n
IN for making the loan and So
interest. After paying this in
| 4 thirteen months--a total of
iamIly was unable to pay on
rpnth month. whereupon its
vas seized and was about TO
rsnctlon for the benefit of the
n rhen the mission worker in
md threatened TO bring the
IN the grand jury. A general |
Flowed which disclosed that |
iinics and other wage-earners |
Dre were in the habit of pay
be way from ten to 1000 per
y b@rowed money. and that
kst a month was considered n
~ rate for sums of 800 and |
IL eight per cent. Il month for
mounts. 1t was discovered
i23u street-railway conduct
Y city, who were required to
sEdy deposits of $50 each be
y received their appointment.
he habit of borrowing their
iln loan brokers who charged
he rate Of four per cent. per
rHest
\ the last year 5SS similar
h made, for a total amount of
The net loss was only S163 in
defaulted. Two mortgages
rslDsed, in both instances be
iltempted fraud on the part
mowers. The applications re-
,Uount of Misrepresentation
y b about 5000. Loans were
u kinds OF people-dentists.
aKyers. teachers, ministers.
ilnes. dressmakers, milliners,
butchers, bakers, policemen,
n-but the most of the appli-
q mechanics, who were either
Muess or deaths in their fam
Eae thrown out Of employ
al cases loans were made TO
~ needed n small amount of
= start in business, and it is
70 every case both interest
lal were promptly paid. 1t
asd 10 loan the street-car
40 to make their deposits
: Employers at the rate of So.
< cent. a year, instead of the
ping.