The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-05-24

Special Correspondence Of The Sunday AepuSne.
Leipsic. May 81 spent this morning In Q
pawnbrokers shop.
1t belongs to the city OF Leipsio ana n
loans out hundreds Of thousands of dollars
e year.
1t has a capital Of less than 800. 900. but \
oorrows more from the City Savings Bant
at go per cent interest and charges about Z
per cent to its customers who bring II -
crrity watches. clocks. furniture. old
clothes and everything under the sun.
Last year It made about ao.oco loans,
which on the average would be more than
one for every family in Leipsic.
I spent some time watching the pawn.
brokers take in the goods and give out
the money.
The loaning room is large and divided IN
half by counters
On one side are the pawnbrok!ne clerfa
and on the other. at the time Of my visit
were about 30 men. women and children.
each holding a bundle. waiting to get
money upon 1t.
They were lined up like the single die
before a theater window at an opening
night.
Each dickered with the clerks. try ~ 10
get the most for his goods.
As the articles were placed on the counter
their value was estimated by an appraiser
who gave the owner a check for the amount
to be loaned.
"a loOh luS q lltlt6 IeItner on TO the
cashier, who paid out the money and rave
him a ticket. Another man then took the
goods and bundled them away on a shelf.
The amounts were generally small. sci.
oom more than a dollar.
Many were for ]. 2 and 8 marks, or Is 80
ano IS cents.
The interest charged was 2 prennigs for
each mark. OF " cent for each % cents. per
month.
This ~pawnshop was established seventy
eight years ago. and since then It has
loaned o IT millions.
Its loans increase during hard times and
decrease when the times are good.
The institution Is worked for the benefit
OF the people The interest is kept down
to the lowest rate. and the articles are SO
valued that practically nothing il lost.
Tho most Of the articles are redeemed,
less than 10 per cent being left for sale at
auction.
The auction was going on in another room
during my stay. and 1 went In to watch II.
The room was filled with bidders. and the
auctioneer knocked the goods OF without
delay.
1 noticed that they sold for q little bit
more than their valuation.
A clock which was marked 81. so sold for
s. and other things in proportion.
SHOP CONNECTED WITH
CITY SAVINGS BANK.
This pawnbroktnG shop is connected with
the City Savings Bank. which has deposits
amounting to about 81 ZOO. 900. and new de-
posts Of somsthing LIKE 100000 a year.
1t pays about 3 per cent interest, and
loans It's money out for NJ per sent and up-
ward. the pawnbrokins branch paying 81
Per cent
The bsnk 10 not run to make money, but
in tho interests Of the people.
1t has now about 1900 90 depositors. and Of
these more than 10000 have deposits Of less
than SIS: 5000 have between as and SIS
and only 5000 more than N42.
Much OF the depositing 10 done by means
Of stamps.
A man can buy : stamp for 10 pfenniEs,
or less than ~ cents. and deposit this in
the penny savings bank. such stamps ARE
saved until they amount to a mark or more,
when they are deposited.
There are stamp offices all over the city,
and one can put away his small hange
into the savings bank almost as easily az
into the bear saloons.
Such savings banks are to be found in
nearly all the cities Of Germany.
That OF Berlin has about 100 different
branches. It's depositors number more than
half q million. and the deposits are about
5o,ooo,Oo
Dresden has almost half as much in her
savings bank. and there are a number Of
other German cities which have as much as
Sao,o00,9OO each.
In addition to these city banks there are
private. savings banks. which are to a GER
tain extent under the supervision of the
Government
In these the deposits are limited by law
to 5000 marks, and the interest rate is fixed
annually By the Board Of Directors.
1t 10 usually low. about 3 per cent. In
these banks ~ can be checked out on any
one day. but a months notice must ,be
given for the withdrawal of more han
that sum up to loo marks. and six month";
notice for larger sums.
GERMAN MAILS
HELP THE FARMERS
I have written Of the modern postal sefv-
ice OF Switzerland and France.
That. Of Germany Is equally good.
The Government here works for the peo-
pie and helps them do their business