Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-02-06
'[NAIE HANDLES
! BIG LOAN SHARKS
-, a.te Of Interest is Fixed at
'''- Maximum Of u Per
Cent,
INSTANCES OF ExT0RT'0N'
r,.om country Districts Tell
s ?, aaraships Indicted on Farmers
who Buy on Time

..o,,ive blow has been 49, st,te
A ae'''' snark in Utah by the s'''.s
Ire loan s 40. ,he liveliest debate OIL
sn''e To-, n Yesterday afternoon an
be sss bill went through Win pn,s
snu'us. ... registered against IT, 'onH
Ihree W. WY t,em banker, Wesley y,
" sn'', me old line senate leader anu
Walton ~ rrI,en Jr., OF Logan were
hsrs' nv against the bill at the emo M t tSe
lined up n,sss their conclusions on INV. .no
they oai, .s,t the bill so reduced 'h'
r,,s q interest that poor p pc unable
rave = !, ready money would io DC a u loan
heso q ~ time OF strlngenos, ~ ne to
to get ~ q" conla place their lro mt or
ssencies. yantage than at 10 PEI , . for
better nant on household furhi'uie
|? per cent Y"
shcft periods .,,ror,h the house and
ine ~ hy The governor u VIII pc" an
= ssp ~ ,,ns with most otner s.a ,oarjv
Utah II uns ~ nsury. for they nea ~,
Oil have have, cate ate II interest. The depa.o
nsSliA. .s.ats lasted over hair hi' 'i'"''
u w times was very liVely ,os NV
and az um r,, measure WAS introduced "
fhe usu ne hard headed man lIon,
liaronsI'r orr who through the iast W.
spansa : acme much 10 get the goou
SESSIONS .ha ether senator's. OpposnlS
VII =. Wy fobn Y. Smith of LEM, aiad
nnl sa ., mon from the same sehaIol'a'
mes wv lea the ight pro ana GU,
dsuis' AnsIlv resulted In the rontLlhs
SaiSh mi man by the Spanish ForH.
o. 'p eo p was defended by benue1
ei e,1,,S IN an incisive speech, ailu
! su.' sselv added just a touch IN one
sensw .sntsnce declaring that the usuIel
ollei a,wavs take the maximum rsto
4 N9u n,,, au' 90 it was wise to make inc
rate snail.
\ MANY AMENDMENTS
Amendments were hurled at me i,ea pt ~
~. A. r,any quarters but they taileu 10
ilo.' u.sr ,sroI spproval, and We're
inu nne nv one The first came
y S s,o,, Iobn Y. Smith. who wanted Ihe
,'.,t. reised 10 is per cent on eontract
~ ANY Inc grounds that the bill would pe
:" adventage to poor people heeallls
-,,Sv money 10 time of stringenoy'
Renner x, smith opposed the eon-
n ,rac, idea on the grounds that the ioau
"a sharks would Toxic IS py contract e
p ery time they got a chance. he nei1
n ,hs, no man can afford to pay over -
per cent and live LII.
q He would go to the poor house WINS
81 ,he loan shark piled up riches upon
& ,iches. Walton spoke for the amend
& 1nent. declaring that the borrower can
a nften afford is per cent. and on snort
81 loans bank can hardly afford to take
Fl even that interest.
y sEELY's COMMENT.
ii Senator seely here introduced his
brief sentence: Il oppose the amend
ment on the grounds that the loan
sharks will take all they can get and
when they can't set Is per cent they
WIN take L. per cent.
Then began the narration of incidents
that showed up the tragedy OF short
loans al high interest out In the coun-
| Try districts Senator JOHNSON told
| OF collecting several times the value
Of a farm wagon In interest, and de-
dared that he knew how farmers suf-
.sed from paying high rates of inter-
st. Senator Smith offered another
amendment providing that on loans of
~ or under 81 for the first month be
charged, and that on loans of SIS or
ss sL5O be charged, and on 800 or less
| & be charged.
Hoingsworth wanted the bill not to
| spply to loan OF $50 or less. Neither
q these amendments attracted favor
sole comment. and they were dropped.
John ]. tried again with an amend
nsnt allowing 81 for the first month on
loals Of 800 and less, after that the
-,ual rate or interest to apply.
Inc amendment carried unanimous
y after which the bill went to a vote
| AllOts.
HOUSE BILL KILLED.
Inc senate showed very little SYM
@ny Tor the house bill making trac-
" engines responsible for damages to
Lages' II went to it's death while n.
ler lay on the senate table stat -
H mouse conference committee
~ oeen appointed to consider II Joint
eilh the senate. The committee re-
~. NJ. was adopted, killing 1t, while com
, an reports tavoring Hulaniskrs bills
N 'asl drlVlng and the appearance OF
Y. names OF candidates on official hal
w we're reported favorably.
ne following bills were Introduced.
4, (" D. u, BY Holllngsworth. relating
n stsle School for the Dear ana
nv sIu, ana fixing Its location: chang
ma W name 10 ana continuing n as n
M VSIporate under the name ~
b,s,i sehool for the Deaf" fixing ms
i 5s ,g.. and confirming and pernetnat9
NJ Wy SAID Utah School for the Desr
.ndowraS, hhnunities, franchises and
ferreS NM heretofore granted or con-
NE De-. ''o .ne Utah State School for
n torcs "a, ana Dumb" and continuing
ne dea, w. we use OF said school for
apbrob,i. y uheXpended balances az
s,hooi ~ io.'ons made for the Utah stars
isfrta IA H. the Dear and Dumb. RE
Igions. -VH'Illttee on public insti-
h. B. :, 3 BY Benner X. sm,t nro,,,,
h dix, meetings of boards az trn ot,o
teunsli !, VI the FIRST class and liz 49,,
tlsw sr ~ cities Of the second and thirss
plston," S providing FOR rules ana ' ras
'srsd n tSyerning said ineetlngs Pe
| hratlogs Hu county and municina, 80
Sp ss and judiciary eonn,J,pl cor
poyiS,,,., benner X. smith ~, ' r
l,s,, ass Tor the sale r ~ request
MardlanshIns states of persons lndc,.
w Revised s sna repealing sectIo,r
E,i'utd 10 ~. statutes Of Utah I ,,S'
vac judiciary committee
ATTACK ON JENSEN.
Win weber Charges Him