New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-02-22
COMPLAIN OF USURERS.
VICTIMS TELL METHODS
Many Arrests H'W Follo1c Continue
fion Of Jerome's Crusade.

Following the arrest on Friday Of two women
II an Office IL Broadway on a charge OF de-
handing excessive interest on money they
loaned. many complaints have been made
against money lenders in this city. and if the
crusade started sgairct these people by District
Attorney Jerome is carried out many arrests
nay fellow. Il is said that expensive offices
have been fitted uJ II nearly every section of
the city by usurers. who have been robbing the
public by charging exorbitant rates Of interest
and that Usury has been 7ourishing for some
tine The Offices Of these people are usually in
large buildings, where the associations are gen
orally acknowledged 10 be conspicuously rep
utsble, an5 Z IS under cover Of such associa-
lions that the anxious borrower is caught in a
binding trap by the sly and greedy money grab
bers- On the door OF the Office is usually small
sign. such as - Loan Office"
Il IS through the mails and by alluring news
paper advertisements that the victims are OBJ
Ta'ne6- An advertisement signed Room -,
Broadway, Confidential and containing
causes like Money Loaned on Easy Terms"
also No Publicity is the common bait. Unlike
legitimate business. no try it and tell your
friends" remarks are made 10 add to the num-
Der Of customers A man who is caught by the
experiment once doesn't advise his most init
mate friends 10 try it. and he never repeats
i himself
tenement house districts the small Shylocks
20 among the people and demand . cents a
week on the dollar. This loaning Of small
amounts IS practised in the factories and stores
10 z large extent. The loans given by those in
offices usually amount 10 from SO upward.
The interest varies according 10 the impression
made on the rnoneylender by the victim. If he
is = want and anxious the amount Of interest is
raised, but if he is Indifferent it is perhaps
slightly lessened-
The intending borrower goes 70 the Office and
How nuchE' asks the man sitting at a desk,
rubbing his hands.
Fifty dollars is the reply.
Are you employed?" asks the money lender
Yes"
Have you your own home?'
Yes"
The borrowers home address and employers
name are given, as We as those OF two business
men. as references. He is then told 10 call again
On the following day. The money lender after
ward sends z man 10 look up the address given.
The following day tia agent returns, and If the
money lender Is satisfied with the applicant
business and references he gives him the sou
Dn the receipt Of note with the legal rate OF
interest Aside from this an agreement IS made
for weekly payments 70 the money lender.
L IS il this agreement HAT the man 1a-ls the
prev OF the money shark On $50 50 q week is
demanded. this not 10 be credited 10 the prln-
-ipaL Al the end OF three months payments
T interest amount 10 much more than the loan
-self. Besides this the legal interest Is added
II the IA vrTl5n1s run z day over Z week COM
pound interest Is charged II the payments are
not forthcoming the money lender makes threats
p exposure 10 the mans employ ef- ana also 20
his friends. The victim. to protect hlnlSet
from unpleasant noIOrieIy, pays the amounts
etthout being able TO repay the note II he
refuses 70 nav he IS hal=d 10 court under the
uretexr that he has received some article that
ae has not paid for
Il is said thar the money lenders offer CON-
missions 10 foremel il factories and heads or
DEPARTMENTS il stores TO force those who have
borrowed money 70 pay the sums demanded. by
threatening 70 take the amounts from their
Salaries