The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-21
5000 INTEREST
ON $40 LOAN
Exactions of Loan Sharks
Drive T. J. T0nneSen
to Despair.
FAMILY NOW DESTITUTE
HOME AND FURNITURE GONE
STILL IN DEBT.

In destitute circumstances, with a sick
wife and eight children to provide for.
and himself Unable to secure work,
Tonnes ]. Tonnesen, rs West First North,
has been driven to the brink Of despair
as the direct result of the heartless meth
DDS practised by the loan sharks in a
state where there exists no usury law.
In the fall, three years ago, Tonnesen,
VINO is a carpenter, and finds 1t difficult
during the winter months to secure suf-
f1cient work to enable him to provide for
his family, was compelled to take the
last resort open to the miserably poor,
that of borrowing on a chattel mortgage
on household furniture small amount
from loan company. Tonnesen secured
from j. T. Stringer company the sum
of go and gave his note for sixty GSys for
SIS. He was to pay interest at the rate
the sixty days he was unable to lift the
note given to the Stringer company. and
as a result the interest and his troubles
began to grow.
Ten Times Principal.
in the three years that the loan has ex-
listed Tonnesen has paid in interest over
$500 on the original loan of $40 and still
owes upwards of $40. He has, in fact,
paid to the Stringer company every cent
that he could possibly spare. and has I'M
dergone every privation in futile effort
to rid himself of the pitiless burden.
COnUlIlOn OF AFFAIRS at the IOnneSen
home cam to a climax last Friday, when
the case was reported to the Salt Lake
Charity ASSOCIATION. Captain NJ. NJ.
Wood. superintendent of that association,
Immediately paid a visit to the Tonne
sens to find that they were completely
without coal, with only very limited
supply of food on hand and three of the
younger children without shoes on their
feet. Captain Wood after visiting a
number of coal yards. was able to secure
sack of coal for the immediate relief of
the family, and the promise of another
small supply when that was exhausted.
He also supplied one of the children, who
was running barefoot with a pair of
shoes. and had the miserable remnants in
the form of footwear of the other two
children repaired at the shoe shop of the
association.
Prey Upon Necessity.
A Herald reporter visited the Tonnesen
home Wednesday and found that condi-
reported. The rooms were barren of fur
niture, save for a few chairs and old
tables. The only sign of prosperity to be
seen was an upright piano Inquiry was
made as to the piano and it was learned
that it had been recently placed in the
home to be paid for on the instaltment
plan; that il was not the choice of the
Tonnesens TO have it there, but that they
had to permit a music firm to place the
piano in the house on the installment plan
as a part of an agreement made with the
music firm when they sold their organ in
Novembe. so as to raise money for their
tormentors. the loan sharks. 1t is their
intention to let the payments on the plano
lapse and thereby have it taken away.
Pale and careworn. with a nursing child
in her arms, Mrs. Tonnesen received the
reporter, and after learning his mission
became nervous and frightened. exclaim-
ing, '1f l tell Won these things and they
get in the paper Mr.. Stringer will sue US
and take away everything we've got.
hal he nf IN
spire terror in the Tonnesen household
was evident Mrs. Tonnesen was reluct-
ant to talk upon the subject of the loan
and it's blighting consequences in her fam
ily but after questioning she related her
story bit by bit.
Lose Their Home.
Mrs. Tonnesen said that three years ago
the loan of $50 was made. Stringer taking
a mortgage on the household furniture.
At the time of the loan they were living
in their own home Cos South Eighth West
street After the first few months they
commenced to pay upon the principal, but
from time to time were compelled for
want of funds to lapse payments The
interest as a result commenced to dou-
BILE and treble the original loan. until the
Tonnesens were so far in debt THAT 1t
appeared to them they would never get
free. Sickness in the family, first OF the
father, then the mother and the children,
made the situation all the more serious.
But whenever it was possible payments
were made to Stringer, until nearly 500
had been paid him in interest
Last March the TOupesens had to give
up their homo on Eighth West, which
they had been paying for on the install
ment plan. They realized a little money
out of this final transaction of their home
Taking So with him. TonneSen went 20
Stringer to take up the original note and
to beg him to release him from further
obligation.
Gives Another Note,
Stringer would not listen to a full set
Element on such terms but offered to re-
turn the note and take out another for
the interest due amounting to about
S15 So obtaining as security mortgage
on Tonnesen's range and iron bedstead,
which was all the furniture of value that
he possessed aside from the organ. Ton
nesen accepted the offer, for it was all
he could do, and thus started anew the
endless chain of debt.
During the summer, when -Tonnesen
could have worked, he fell and seriously
injured his leg, incapacitating him as
sIInport TO his family. The wife has taken
in washing for some time and the two
oldest children are at work In this way
the family has managed to pay their rent
make an occasional payment to Stringer
and in a fashion exc out an existence
Tbev were compelled to let the December
nav.nent on the loan lapse, and Mrs.
Tonnesen stated Wednesday that she did
NOT see how il would be possible 10 meet
the January payment
THE Tonnesen case Is only one or many
existing in Salt Lake. with no usury law
20 coll a halt to the system practised by