The evening world., 1904-02-06
Assemblyman Russell Intro
duces a Bill in the legisIa-
ture That win Put an End to
Their Operations Here.
MILLIONS WRUNG FROM
NEW YORK WAGE FARMERS.
District-Attorney's Office After
Local Bank President Who Is
Said to Have Been Associat-
ed with D. H. ToIman.

The war against loan sharks has In
lerested the New York Legislature. and
the passage of the bill introduced by
Assemblyman Russell of Kings. seems
certain. This measure will put an end
to the practice of usury. and either
drive out the money lenders or force
Them TO exercise some degree of fair
ness.
The Russell bill prohibits the charge
pr acceptance of more than per cent.
IN any kind OF loan, and provides
penalty OF 500 or a year in prison for
the violation of the law. 1t will sup
press the lending of money at from 20
to 30 per cent. on salaries. chattel mort
cages, tools or machinery.
Under the fire from tho DIstrict-At-
torney's office many of the New York
sharks have fed to Jersey City and
opened offices there. The most promi-
nent of these is d. H. Tolman, whose
tncome is said to be greater than that
of the majority Of millionaire capital
lists. From the clerks and low wage
earners of New York alone he CLEANS n
yearly harvest OF $4,000. 1t is said.
r Tolman calls himself private
banker" and with New York and Chi
cago as headquarters he spreads his
tentacles from coast TO coast and from
the Great Lakes to the Gulf His name
Is known to the money borrowers of
nfty-five cities
IL TOihnn's FIatterlng OFFER.
The. offer in Tolman's daily advertise
ment Is fiatterlng. Once in the power
of a money lender It is hard to free
ones self. but those who are shrewd
enough TO pay Tolman early are at
once made offers to become his agents.
In polite note they are asked to send
their friends for loans and promised a
commission on all business.
The business Is conducted on n care
ful plan. Before the money Is paid the
applicant must go through a rigid ex-
animation. His family and business AZ
fairs are all known to Tolman when he
Is through.
starting with his full name, the appli-
cant must tell in writing by whom he is
employed and where; who is his direct
superior in. his place OF employment and
In what department he is employed. He
must then tell the amount of his salary
''Nh - 80 poytlpic. ITO InuSI BlN6
list of his debts, telling why each was
incurred. He must name his former
employer and why he left his former
employment. He must tell where he
lives. how long he has lived at the ad-
dress. where he lived before he last
moved. and why he changed his place
OF dwelling.
Next the applicant tells whether he II
married or single. how many children
he has. what church. II any, he attends,
and who is his pastor. He must tell his
age and tho value of his personal prop
srty. If ne Is a member OF n union or a
lodge he must tell the name and address
OF the secretary OF such organization.
He must tell the amount of his insur-
ance and in what company 1t Is held
Obtains All Secrets.
- Next the money-lender demands tc
know the names of the applicant
closest friends; the names OF half q
dozen OF his fellow employees and the
names of his tradespeople. The names
and addresses of his parents are re
CURED, as are the names and I'D
dresses OF his wifes parents and final
fly the names and addresses OF his bro.
thers and sisters, and the names ant
addresses OF his wife's brothers ant
sisters.
1t is Tolman's plan to double the
capital invested every forty weeks
The arrangement is made according to
the laws OF the State in which tn,
loan is made. An applicant for a Ioar
Of SIS must ask for $50, for 81 1.
charged for an application fee and s.
for brokerage. When the money 1,
paid the applicant must sign note.
aggregating SOS. covering twenty weeks
Assistant District-Attorney Krese
believes that the president OF one o,
the New York banks Is associated witt
rolman In the money-lending business
II is expected that he, too, Will h,
driven from the city and the method,
of his bank exposed.