The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1905-03-15
HOW TWENTY
5 s 5 GREW
Another Chapter
in The lJsury
Story.

Following is a statement of Charles
Lake to the Attorney General in re-
gard to another usury case:
My name is Charles Lake Some
time in the month of April or May of
last year 1 went to Charles Martin and
William Peterson to borrow some
money, they being money lenders in
Honolulu. I wanted a loan of $50;
they refused to lend me the money
unless L would buy from them a sec
ond-hand watch, of which they had a
number they were trying to get rid
of, and as L could not get a loan 9TH
erwise 1 therefore bought one of the
watches, for which they charged ne
the sum of s25, and I signed a note for
the same which they prepared for me.
They gave me the $40 and I signed
another note for it. They told me that
the lowest rate of interest for which
they did business was ten cents on
every dollar every two weeks. L was
not familiar with the law and thought
that they charged me only what was
legal.
About a week afterward I met Peter
son and Martin on the street and they
told me that they were going to San
Francisco and for me to come to the
office and sign a new note in place OF
the two that 1 had already signed. I
went with them and they prepared a
note for $3.50. I objected, that the in
teresi could not have come up to that
amount on my original loan of $45,
but they told me that they would sue
me and garnishee my wages, unless I
signed the note, and if I signed the
note would have plenty of time before
they required payment I objected to
signing the note and argued for some
time, telling them that they were
charging me too much, but finally yield
ed to their threats. that they would
Immediately sue me and tie up my
salary, so that I could not get any
money to support my family unless [
signed this new note.
They did not give me back the old
notes. 1 understand that after this
they went to San Francisco and We're
gone for about month when Peterson
He met me one day on the street
and told me to come to his office When
got there he produced the note for
s25 which I had originally signed, when
they made me take the watch and
told me that he wanted the money on
that note with interest amounting to
about $33. I told him that L had no
money and could not pay him at the
time, so he had me sign three new
notes; two for so and one for s13. I
asked him for my old note back again.
but he said that was unnecessary;
that he would tear the note up before
ne; he tore up what 1 believed to be
the note that 1 signed for $25. I, at
he time, asked him if / was to sign
hese three notes why 1 did not get
Jack my notes for $50 which covered
he whole Indebtedness; he said that
t was locked up in the safe and that
dr. Martin had the key, therefore he
could not give it to me, but that it
would be destroyed when Mr.. Martin
rot back. Two or three weeks after 1
signed these three notes Mr.. Peterson
lad my wages garnished for these
hree notes and was paid the full
mount.
In the last part of last year or in
January of this year, Martin and Pc
erson met me in front of the govern
nent building. where L was working In
he road department, and made a de-
nand On me to pay the note for $50,
With more interest. I told them that
had already paid portion of this
mount by their collection of these
totes for s33, and that would pay the
valance on the original loan. They
old me that I must pay the interest ,
10 to date, which would make the sum
cry much larger, and to come to their
ffice and sign new note. BY this !
ime I was afraid to go to their office !
ecause they had so many of my notes
nd had never returned me anything, .
nd 1 did not know what they would :
ry to get me to sign, and refused to
%; they then brought suit against me
or my note for S55 and garnished my ,
alary in the road department. I re- ,
aimed a lawyer in the lower court
ut did not make my explanation there
nder his advice. and 1 had no money :
D appeal the case when Judgment was
liver. against me, so that now they are
ollecting the full amount of this note
rom my saIary. I never borrowed
ut the $50 from them.
CHARLES LAKE.
Subscribed and sworn to before me q
MS 14th day of March. a. D. 1905.
JNO. NJ. KEA.
-otary Public. First. Jud. Circuit, Ter
ritory of Hawaii.
I