The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-01-27
PAWNBROKERS
MAY OPEN UP

A pawnbrokers' law is among the
features of the new county government
act. The pawnbrOker has never sue
ceeded in getting a foothold in Homo
lulu though there are money lenders
who loan on collateral security and who
will come legally within the definition
of a pawnbroker under the new act A
couple of years ago several stores We're
opened as pawnshops on upper Fort
street, but they did not succeed under
the rigid Hawaiian law and with the
small business that developed. The
new law on the subject contains the
following regulations:
Every person who shall advance for
interest of for or in expectation of pro-
fit gain or reward any sum of money
upon security of any goods or chattels
whatsoever, taken by such person by
way of pawn or pledge, shall be deemed
and taken to be a pawnbroker within
the meaning of this Act; provided, that
nothing herein shall be held or con-
strued to apply to loans or advances
made on any goods or chattels, bonds,
bills, or other security taken by mer-
chants, bankers, commission agents or
auctioneers in the ordinary and bona
fide course of mercantile or banking
| transactions.
THE tax collector is hereby autho-
rized to grant licenses for the respec-
tive periods of one year to carry on the
business of pawnbroking, upon pay
ment of the sum of one hundred and
fifty.dollars.
| Every such license shall be issued
upon these express conditions set forth
in such license: That the person re-
ceiving such license shall not charge or
receive interest at the rate of more
than four per centum per month for any
loan under twenty dollars, nor more
than two per centum per month for
/ any sum above twenty dollars, and UNI
der one hundred dollars, nor more than
( one per centum for any sum over one
/ hundred dollars, nor exact any other
! gain, profit or reward by charging com
missions, discount, storage or other
charge, or by compromising or by any
! other device increasing such interest.
That he shall not sell any article
! pledged to him and unredeemed within
six months after the last day fixed by
contract for the redemption, nor make
any such sale without publishing al
least twice in a newspaper published
in English and Hawaii, at least ter
days before such sale a notice contain.
ing a list of the articles to be sold, and
specifying the time and PLACE of sale
That he will disclose to the pledgol
or his agent the name of the purchaser
and the price received by him for any
article so pledged and sold.
That he will keep a register in the
English or Hawaiian language and en-
ter in such register the date, duration
amount, rate of interest on any loar
made by him, an accurate description
of the property pledged, the name anc
residence of the pledgor and will de
liver to the pledgor a copy of such en-
tries and will also enter in such re-
gister an account in writing of all sales
made by him.
That he will produce for inspection
his register and exhibit all articles re-
ceived by him in pledge and his account
of sales to any officer authorized under
search warrant to search for property
or holding an order of a Magistrate di
Tecting such officer to inspect such re
gister or such articles pledged or sucf
account of sales.
That he will notify the Sheriff of the
county or his deputy of any offer made
by any person to pledge any articles
which said licensee has reasonable
cause to suspect of having been stolen