Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1906-07-05
GOVERNMENT PAWNsHoPs.

GOVERNMENT PAWNSHOPS.
Interesting Report of tne Department
of Commerce and Labor.
Washington, D. c., June 29.-(Spe.
cial)-The bureau of manufactures OF
the department of commerce and labor
has issued number of interesting
interesting reports from consular Of
ficers in Germany, France, Belgium
and Russia on the operations OF pawn
shops in those countries. Writing
from Berlin, Consul General Thackara
says there are no pawnshops under
the management of the municipal au.
thorities in Berlin but there is royal
pawn Office and numerous private
pawnbrokers, who have to be licensed
and are strictly regulated by law.
The Royal Prussian pawn Office was
established in 1884 under the control
of the Royal Bank. The purpose of its
establishment was the promotion of
the common welfare, and all profits
from the business or any surplus
which remains after charging mod
crate rate of interest and deducting
costs of administration, are devoted to
charitable purposes. The institution
lends from one-half up to two-thirds
on the estimated value of goods
pawned. Persons desiring a loan must
be identified to the keeper of the pawn
shop. The lowest amount upon which
money is loaned is Il cents. A branch
Of the royal pawnshops In the locality
where the poor class reside, a loan Is
made on AZ cents and a rate of IL per
centum per annum is charged on all
loans by the royal office. The surplus
donated from the royal pawnshop to
charitable purposes is not large,
amounting in 1904 to only $2,131.
There are TIA private pawnshops in
Berlin, so much more conveniently sit
uated that they take the business
away from the royal office. The ap.
praised value of the loans of the royal
pawn office was at the close of March,
1905, $1,067, 1913, and the working CAPT.
tai in January, 1906, was sSS3,072.
The Paris System.
Consul General Mason at Paris says
that the municipal pawnshop system
IF Paris is venerable institution, hav-
ing been founded in 1777. 1t is dis
tinct bureau of the government and in
cludes in it's control three members Of
the committee of public charities,
three private citizens and the project
of police. There are twenty-one
branches of the main pawnshop. Dur
ing 1904, 1,449,16S loans on jewelry,
clothing, bicycles, ETC., were made of
the average amount of S6.46 and the
total loaned was $9,361,625. Eight per
cent on jewelry and 6 per cent Gu
other articles were the prevailing rates
of Interest. In 1904 the profits Of the
municipal pawnshop amounted to $685.
Alt, which was turned over to the sup
port of municipal hospitals. The
Paris pawnshop is an absolute monop-
oily, no private pawnbroker being al
lowed to do business in the city. There
are, however, brokers of pawn tickets,
who buy up these tickets at higher
rates than are paid by the municipal
Office and when the public auction OF
unredeemed pledges is held they make
quite a bit of money on these tickets.
. The administration of the pawnshop
system in Brussels, which was begun
!, in 1910, and which charges 6 per cent
!, annum on loans, is similar to that in
Paris. The mayor Of the city is presi-
dent Of the board and the pawnshops
; in Belgium are organized under the
| U1TSCIlUu VI Lie COlliuiuAo tSOuASls
, which approves the budget and
accounts. In 1905 the establishment
} loaned on 312,794 pledges s1,253,173
and the net profit for the year was
: sc, 4O1. The Brussels pawnshop is I'M
der the management of three apprais-
: ers, one of whom is an expert gold
: and silver smith, and other officers
) who keep daily records of the transac-
tons of their departments, which are
: collected and compared daily before
closing the Office.
Six Institutions In Russia.
!. Vice Consul General Mueller, at St
Petersburg, says there are six institu.
. lions in Russia loaning money on
= chattels The State Loan Office, which
is controlled by the central govern,
ment, charges per cent per annum
+, Only gold, silver, precious stones and
+ valuables are accepted at this Office
4 There is also In Russia society fol
q pawning chattels, the st. Petersburg
]. company for storage and pawnine
chattels and goods, the st. Petersburg
City Loan Office, the st. Petersburg
! Private Loan Office and the st. Pet
= ersburg Municipal Loan Office. which
. was organized in 1898 and has now &
:, paid up capital of about million dol
: lars. In 1904 the loans aggregated
- 81, 753,550, of which $1,569,065 was re
- paid Goods unclaimed were sold a
. public auction, netting a profit o
. about $37,251.