The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1904-11-10
sEoon sharks
Flourish fne@

/ Flourish fine" {
That loan sharks are BUSY again m tnis
city Is apparent from the advertisins
columns of some OF the Sunday news
naners For a while after the CONVECTION
on Rothsehild of the Federal b.tnh allo
the exposure OF the Globe sScuil,2 ''', IN,
pany there was lull In the phsi.sess- ..',s.s'.
MANY OF tne sharks moved thelf olilees
10 Jersey City and others did ouaiitesft
under cover, being especially c1Islet - -
TO lend money on salaries 70 pelov"a w. w.
they had any reason tC suspect ""ule
make trouble. ,..,..t.,,.
But as tie memory OF Rothschilds
swindling operations faded IN the psp3Ae
mind the sharks resumed their sneIAi'ts
and to-day there are more or theHi ~
business here than ever before. III "to
newspaper last Sunday there appeared 70
less than fifteen advertisements oheilhs
to lend money on salaries on the most
inoliTies among several Of these loan.
agents yesterday established the ~
that few. II any Of them, nave ahy - le@.
of being prosecuted under ,..s ,if5t
laws which the legislature has klhaly
amended for them since Jerome pesso.
making trouble They all protesaeu tnae @
they were doing a legitimate business.
This is a sample OF the way they loan
When the victim. generally. a clerk on
a small salary enters the once a yvuhb
woman behind a rallied desN qusss'St,iis NJ,
him TO his age, his employ men,. ~ ~,
liability to sudden death, his asapelaa as -
and his habits. They he Is ushered mo ~,
the presence OF the manager, who IN
quires what he wants.
"A loan says the victim.
"You must have made mistake. re-
plies the manager blandly- we tnahs
no loans here Sometimes. though, hs
buy salaries. II you have one one 70 ssli ssii
value. OF course but the discount 10
The victim then announces that he has has,s
two weeks salary, face value Soe, 70 So,
Well says the shark. we VIII -
Won $3.50 for a. You can deliver thc
salary in eight weekly instaii'"en's %
g4T5." .o n a,
terest OF. $3.50 for eight weeks, foi @ @tll1
loan OF 500 about SO Is charged ipi N"'
Another system is used by shark yho
poses rs private banker, ana N-osr
main nlace Of business rs out OF the state.
He has several branch offices ~ fhls elt9'
all OF which are in charge OF young Nous-
en-. aud the game Is carried on tntoukh
the mails The borrower first has 70 pay
a fee OF ST. which he Is told ls the cost
OF making out an application. THIS hppl-
cation Is sent 70 the out-of-the-stAte OF
nee In few DAYS the borrower ie1s.tg,s
a check for the amount OF his loan, Win
a typewritten inclosure saying inst II ne
does moi wish TO retain the check he may
send It hack and the deal viii be declared
of. The following printed notice ~ also
inclosed
An payments must be made at said ad-
dress on the date when notes are due. II
NOT they will be protested and put into
the hands Of a collection agency or attor-
ney for collection. and the maker VIII
have 10 pay protest and collection charges
besides the Interest from maturity
Checks nf private individuals not accept
- ~ ffa mr.
will be sent a sendcr's risk. Remit tancea
from out Of town should be mailed ae
least one day before note II due.
IL the borrower applied for a loan ot
$50 the check lie receives II for Slh.-5.
he agreeing 10 pay the money BACK IN nFe
weekly installments Of 81 each. Payments
are made 10 the young woman IN charge
of tho branch Office where the loan Was
negotiated and she gives the victim
check to mail TO the banker" This
check IN reality Is merely her receipt for
payment and is not negotiable, II tbs
borrower ueRlects to mail the check on
time or m any accident occurs % delay
its delivery he receives forthwith a no
tlce from the private banker which
reads.
A note dated and payable and signed by
YOU the payment thereof having been "
me demanded. and having been noted by
me this day for non-payment hereby
notify you that the holder looks 70 you
for payment interest. cost and damages.
Done at the request of the holder
There "a inSerted the name Of the ''pri-
Yate banker and the document % signed
by q woman IN his employ and sworn TO
before a notary public.
The charge for this protest" s sla7
No grace IL allowed 10 the borrower, snd
II he Ia tardy on all five payments Il iit
cost him SG.SJ for protest fees which. In
cluding S375 Interest Will make the cosl
% loan of Sl621 for five weeks 5000.
or al the rate OF SHOPS year
II the borrower doesn't come 10 tims
with the payment or interest and protest
fees he Is harassed by mail and In per-
cation Is made. the private banker con-
cigdes be won't make the loan the appii-
cant never gets back hls sI.-New York
Sun