The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-10
LOAN AGENCY
HEAVILY F|A[l
Sam Stern Starts . Crusade
Against Alleged Unlawful
Competitors.

Mr. Sam Stern was the succeeofu1
agency In the Police Court Yesterday
morning. The result was fine Of $10Q.
against the Gartrell Company. the de-
PENDANTS, and In order to secure the
fine an attachment was Issued syainSe
the company Cor a safe and desk, all
the visible property at the Office. No.
eos West Eroad Street.
According to the evidences adducsd
yesterday. MIR. Stern was walking aion4
West Broad Street the o--.er day when
he saw q sign. Money to Lend on the
windows or an office at No. 3Q0t ME-.
Stern went In.
will you lend me money on my
watcn?t' ne asked.
Yes. said Nlr. Foxworth. the man II
charge.
welt, I'd like to have twenty ON this
and Mr.. Stern produced his watch. .It
is valued at $3.50 but I need the money
badly and must so to Lynchburg this
afternoon. Fact is. I'm hard up
Couldn't let you have twenty. said
F'oxworth. but I'll let you have five"
"Oh well. give It to me- said aIr.
Stern and he took ticket. He saw
according to the ticket that he would
have to pay 1918 any time within the
next thirty days to get the watch out
Ills way led toward the office OF Po-s
lice Captain Whielock in the Third Pre-
cinct and there he left the ticket fol
the watch. Captain Whitlock said he
would investigate. But meanwhile Mr.
Stern began to worry He didn't $50
anything but a small safe and desls
In the Office OF Gartrell and Company,
and he had fears for the safety Of this
$3.50 watch. The result was that Nd
didn't sleep at ALL So next mornfna
when he arose he took another watcA
to the Office. without his ticket. and
asked to get his valuable watch and
substitute the other. Mr.. Foxworth
agreed on payment OF IS cents Interest,"
on the transfer Mr.. Stern agreed to
this proposition and paid the IS cents.
taking his watch and leaving the other.
The invastiga lions Of Captain yvhitlacA
led to warrants and Mr.. Foxworth was
placed under arrest. In court yesterday ha
testified that he was merely the agent
for the Gsrtrel1 Company. that he had
leaned the money to Mr. Stern as per.
sonal fsvcr. hnt that it was not the hust>
ness of the company he represents to loan
on personal property. and that hs drew
sic month for Ills services.
THE Cc1LPANY'S PLAN.
Then the operations OF the company
as a whole was gone into. It was found
that the company conducts a loan bust.
ness, the basis OF this being the fss1-
ance OF bonds by the company at IS cents
a share. and that after these bonds are
purchased member OF the company may
borrow money from It, first giving a bill
OF sale for their household effects AZ
ter the bonds mature. In 300 weeks. fe
was stated that the amount paid In vas
returned double and that the interest, az
the finish would be merely six per cent
per annum.
Comrnonwealth's-A ttorney Richardson
appealed for the prosecution and de-
cIared that all such business PROPOSE
lions shall be suppressed.
The defendants gave notice OF an ap-s
peal Mr.. Stern said there were several
similar concerns in the city. and he In
tended to make it his business to break
them up. The license fee for pawn
brokerage is s40O year.