Evening journal., 1907-07-29
ASK HIM TO PAY
SHYLOCK LOANS
Company Trying to Get Back
Its Money With Heavy
Interest
DELAYOF NEARLY TwOYEARS

After laying low" since the prose-
cutions that resulted IA one man pay
ing a fne in the Court Of General ses-
sions for exacting usuiious interest.
the "shylocl' loan companies are now
bending their efforts TO try 10 gather
In money they loaned 70 some OF thcir
patrons bcfcre The crusade was
against them.
II was thought the prosecutions Of
the money lenders WIN did not hesi-
tate to charge more than the legal
rate OF six per cent interest would put
them out OF business But such IS
not teh case and they have been lend
ing money 10 an who apply ANA meet
the requirements OF the loan COM
panios.
Recfntlv one OF tho companies be-
gan a campaign TO aeather in money
Il loaned two years ago. Many per-
sons who borrowed money then failed
10 pay Il back 10 the companies The
loan companies made practically no
effort to collect the money until this
month, when they began TO send out
letters 10 persons who had borrowed
and who had failed 10 pay baok the
amount borrowed with the high In
terest stipulated.
Send Out letters.
Some letters now hoing sent out are
on the note paper OF The Wilmington
Loan Company and are signed "a. H.
WickcnhOofer." one of the mon who
was arrested IN connection with the
"Shylock' cases. but whose case was
nolle pressed.
Onoman borrowed SIS the middle of
the year 1905. on condition that he
should nay Il back IN seven monthly
installments OF 1885 each. making
S2S.t5 he was TO pay for the Si5 he bor-
rowod. or SS45 interest. lie made Que
payment of 1855 and has paid nothing
FOR nearly two years. In that time he
received no word from the loan com
pany, but II now calls upon him to
pay. The company asserts that the
cases were decided IN favor of The
loan company. as the following letter
TO the man who borrowed the money
sets forth:
Said Company Won.
Dear sir: We negotiated this loan
for YOU IA September. '05. and made no
effort 90 collect same while there was
any doubt as TO our right 10 do so.
These cases having been settled in our
favor some time ago we now write and
ask that YOU call az our office and ar
range for settlement. We have
given YOU the question OF doubt and
now that c-e know that we can collect
what IS due us we desire a settlement
and with that end IN view ask that
YOU bet as hear from YOU at once and
obiiee. Very truly yours. Wilmington
Loan Company A. L. Wickenhoefer,
manager"
This communication was ignored by
the man who received It. and on July
10. one week later. he received this adj
ditional letter.
Demand Settlement.
Dear sir; We havn received no
reply to our letter of July 1lth and
write 20 say that we must now insist
on getting a settement of your ac-
count We regret tnat YOU ala MT
have teh courtesy 20 reply to our let
ter Surely we have been lenient
enough and deserve more consider
alton than we are getting When
you procured this loan YOU knew just
what YOU agreed TO PAY and we feel
that YOU should be honorable enoush
10 live un 20 your agreement We
shall expect reply nv return mail
making some definite arrangement for
settlement ~ your account. Very
truly yours. wilmington Loan Com
panv A. l.. Wickenhoefer. Mgr"
The same man IN 1905 borrowed SO
from the company, witch he was 10
nay back in nine monthly payments OF
S5.05 each. making SEAS he was to pay
for the use Of $50 or Si5.45 interest on
the money for ninc months.