Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1900-05-26
PAwNsHop MEN WANT REFORM.
They Demand that the Loan Sharks
He Compelled to Obey the Laws,

BE Compelled to Obey the Laws.
Not only do the loan sharks do u
great injury to the name of the city.
hut they also injure the business of the
legitimate pawnbrokcrs who comply
with the laws.
The decent pawnbrokers have formed
q strong organization to fight the loan
sharks.
To elevate the standard of the pawn
brosing business In Chicago AMI to pro.
tect It's members are aimed mt I'm the
formation Of the Illinois Collateral
Loan Brokers Association, the papers
Of Incorporation for which were filed
with the Secretary of State at Spring
field on Tuesday.
I'VE want to drive out Of business
the crooks who for years have given Il
had name to the Chicago pnwnbrokers
as Il class. There are self-respccting
men In the collateral loan traffic just as
there are In any other business. and
they are anxious to remove the stigma
that has rested upon them so long
This was the explanation of Abraham
Wolf. one of the incorpOrators.
Il II UuufT~lobt lilul ou' VI 'h'
of the new organization will be to So
cure the annulmcnt of the municipal
pawncrs' law passed at the last session
of the Legislature. Good lawyers, II IL
said. have expressed the belief that the
enactment Is unconstitutional. ana 1t Il
thought that the members of the new
association In due time Will make 4
thnr,pyb tnst nf itS validity
Quoting from the constitution of thu
association. James \. Brady, 1910 Ash
land Block. attorney for the associa
tion. described the aims of the socict!
as follows:
"To promote the general welfare o
pawn ana loan brokers'; to raise tn,
standard of business; to protect the In
terests of the individual members o
the organization when for the good ap'
advancement of all the members nn'
10 furnish the members with advlc
and counsel In matters affecting thel
business
The association has forty.iive mem
bers, there being slXty-iive pawnbrob
ers In Chicago. Ii j. proposed TO issl
n certificate 10 each member on I'll
plan of the Ticket Brokers Assocla
lion. and this IL intended to he guar
anty to the public that the holder
worthy OF patronage. The constituio
provides for rigid observance of III
State and municipal laws affcctln
pawnbrokcrs.
The form Of the certificate Is n 70
lows
This j. To certify that ---- Is
member of the Illinois Collateral Ioa
Brokers Association in good standing
having compiled with the rules and b,
laws. therefore IL cOmmcnde
10 the patronage and confidence Of II
persons.
signature Of officers and seall
Daniel Gclder has been chosen Trea,
urer Of the association. Abraham
Wolf Is Vice President and Walter
Harris II Secretary. The other officer
have not been chosen.
Treasurer Gcldcr said that one of Il
aims Of the organization was TO hay
all mortgage loan men amenablc 10 ii
same laws a pawnbrokers, "They al
doing practically the same kind Of bus
ness a. we are doing he said, "ai
consequently they should pay the san
license fee. $500. To-day they are pa
ing nothing. We want them 10 repo
all their loans 10 the police, just as "
are compelled 10 do. BY this meth'
we believe that much more stolen pro
erty would be recovered"