Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1904-10-07
PAwNBRoKERs GET PROFIT
Small Betters at Racetracks Make
Frequent Visits to the
Money Lenders.


eff We could control the matter" said
pawnbroker one day lately, according
to the New York Sun, I'VE would keep
the races around New York all the year.
When they are here we have time OF
harvest.
sI have hundred or more customers
whom 1 see at least once week when
the races are around here. some OF them
two or three times week, not counting
the times they come to get their things
out. This means that the money we
lend at three per cent. a month. the legal
rate for us, doesn't stay away long when
they borrow it-and we never charge
less than months interest for our mon
ey, no matter how short a time may
elapse between borrowing and return
ing.
you noticed that man who just got
his watch out? Yes. He borrowed $50
on it to go to the races.
''That was yesterday. To-day, less
than "a hours after. he comes back, gets
his watch and pays US 80 cents for the
use of the money. He won on the races
and we didn't lose.
"Since a whole lot of men are doing
this. and it is not unusual for many men
to do that twice or three times a week
our profit is considerable. Just figure fol-
minute and see what it means.
"Take 1t by the year Ninety cents foI
365 days amounts to $32S.50, and that is
per cent. interest on $50 for year
"You can readily see that If the money
always comes back to us IS quickly q
that and we could lend the same SO
every day, that small amount would
profit us as much as the $3.50 profits g
capitalist who takes 3 mortgage on 8
house as security.
'Of course, we don't get all our loans
back with such lightning rapidity. five
did we could retire from business very
SOON But when the races are here there
are so many pikers who play tips a
the tracks that the season 10 mos
profitable.
They pawn their diamonds. watches
rings or other pieces Of jewelry and bel
the money. II they win they come right
back and flt themselves out again witt
their good lockers.
EFT they don't win they come in Will
something else and try as long as they
We see at this time Of the year and nj
other.
And I'll tell you what may seem &
strange thing to you-it does to me. W.
are likely to laugh at men who, at the
end Of the racing season here, say they
came out about even. My experience
Judging from the actions Of the class o.
customers about whom have been talk
ing. is that there is great deal of trutl
in this.
Seldom, when the season closes here
have we single piece of jewelry stored
away which has been pawned by rac'
goer. The business does not seem to fal
OF in the last week, to indicate that the!
were saving their money, either; bu
within few days after the final get
away day out come the pieces; and the.
don't get back until the next year.
1.-THE poolrooms? Oh, that's differen
class of trade altogether. The racetracl
crowd is made up of good people. Tk'
poolroom players who come to pawn
brokers are not to be compared will
them.
"It doesn't pay any too well to lend tt
poolroom players, and great many o.
the things they pawn for money to fat
ten the keepers pockets stay with us un
til they have to be sold at public auction
They're a cheap class and we have tt
scan the articles they offer very care
fully, for they'll stick us if they can.
Cant stick a pawnbroker? Dom
fool yourself. There are people who arr
a great deal sharper than we are, anG
they get into us too often to make oul
life altogether pleasant.
"Not a few of the things that are solo
at pawnbrokers' sales go for less thar
the money lent on them. The pawn
broker doesn't always have a sure
thing"