The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-12-02
IN LOAN SHARK 5
GRIP? SEE Al HICKS
Police Sergeant In Mayors Office
Will Help Free You From
Usurers' Clutches.

Despite all the efforts OF law
makers and law-eniorcers. there is
one pest which thriyes in Detroit
upon the sorrows and necessities OF
the city's humber citizen. Without
regard for usury laws or attempts TO
enforce them. the loan sharks con-
tinue TO mulct their ignorant victims.
Hundreds Of men and women are hav-
ing their savings bled away in pay
ments OF exorbitant interest on loans
which temporary stress compelled
them 10 make.
Because the law which was passed
some time ago 10 check the work OF
these men and companies has been
declared unconstitutional, there is lit
tie restraint upon them today.
Nevertheless, there is one refuge
for the needy who have become en-
trapped in this mesh of debt and
usury. The mayors Office is the
place they seek for relief, and Sergt.
AL Hicks is the man who has forced
the loan sharks to give up their
claims in hundreds of cases.
In some 80 months that Sergt.
Hicks has had charge of these COM
plants in the mayoral Office, he has
compelled settlements which saved
the borrowers approximately $4,000.
Yet not one per cent OF the people
who borrow money from the loan
agencies ever appeal TO the mayors
Office for help. That is why the
money-loaning business is so fruitful
OF profit, and misery, in this city.
The tyDical case Of loan shark vic
tins is the clerk or artisan who has
been unable to save and finds him
self suddenly beset by sickness or
similar misfortune which requires an
immediate sum Of money He must
have It; 1t seems that any price will
not be too high. Therefore he turns
70 the loan shark He is assured that
he will be given easy treatment and,
If he appears to be responsible, he is
advanced $25. $50 or even 500 in
some cases. The medium amount Is
the usual one and often the borrower
must give references to friends who,
he feels, are morally bound TO his
debt so that he must clear it him.
self.
Perhaps he gives notes, perhaps or
ders on his pay In any'case. he Is
apt to find himself confronted with
continuing debt at a high rate OF
interest. II he falls behind it Is
very likely that principal and inter
est will be Jumped and he wiz find
himself paying usurous interest on
the compounded debt II he rebels.
the loan shark goes TO court 10 col
lect the balance OF the original debt,
with interest at the legal rate, and
gets Judgment which hangs over the
debtor
4 mild case which came to the at
tention OF Sergt. Hicks this week was
that Of woman who had borrowed
$50 within the year. After she had
mid $685.. she found herself still
charged with $3.50 balance. SO she
came to Sergt Hicks. An hour later
she had n receipt in full without the
payment Of another dollar,
In November alone. Sergt. Hicks
settled 60 cases. The loans in these
cases had amounted TO s2.250. On %
loans. the borrowers had already paid
sl73.41 more than the loan sharks
Lad the right TO exact At the legal
rate OF interest. Altogether these Ga
borrowers saved s949.G2 by the set
Elements effected.
That was typical months work.
r. nj tho mon and women who are
being bled by usurers were to turn
10 the mayors office for relief, the
total Of the extortionate charges
drained from tho improvjdent of the
city could be known As II Is even
with the number Of complaints he re-
ccives. Serst. Hicks confessos that he
cannot even guess at the extent Of
The business