Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-08
Loan Association for Govern
ment Clerks Is Projected.
TO BE DECIDED OCTOBER %
Woman's Civic Federation Considers
It Good Business.
PHILANTHROPY IS MOTIVE
Women Who Are Being Empower
ished by Loan Sharks Expected
to Be Greatest Renefciaries.

Unless something unforeseen happens
betw cen now and October -. the date of
the meeting in New York city of the ex-
ecutive council. Woman's National Civic
Federation. a loan association for the
benefit of woman department clerks and
other government employees will be or
ganized. Particularly those who have
fallen into habit Of enriching profess
sional loan sharks it is expected to BEN
eft Only government employees in
Washington are to be eligible to borrow
from the association, it is proposed.
The organization OF loan association
has been contemplated for some time by
members of the executive council. The
only rea son it has not been effected be-
fore now is because the promoters de-
sired to investigate conditions to the
fullest before acting.
Good Business, Good Philanthropy.
They have finally come to the conclu-
sion that government employe is a
good risk in the loan business. FROM
philanthropic motives it has been de-
termined to charge interest at rates
ranging from to per cent on every va
riety of money advances.
Other details of the proposed associa-
ton are being carefully worked out
along the same lines.
The enormous rates of usury which
are impoverishing woman clients of the
loan sharks have indicated the crying
and immediate need Of relief. Instances
are known where a rate of 100 per cent
has been demanded and given for d
three-mOnth loan of So. Rates of IS
and so per cent have been charged. and
so per cent usury is not uncommon. 1t
is seldom. so say persons familiar with
loan conditions in Washington. tina.
charges are less than 30 per cent.
Higher rates are extorted from
women. taking advantage of their
known hesitation in seeking financial
assistance in other directions. and
shame in exposing their necessity to
those near to them.
Establishment Practically Assured.
The meeting Of the executive COM
mittee is to be held in the Metropolitan
Life building. the national headquar.
ters of the federation. The loan as
ISOLATION will be the chief subject of
discussion and the question Of estab-
lishment will be disposed of.
MANY prominent members of the fed
Grafton are interested in the movement.
Through their substantial assistance
the organization Of the association is
practically foregone conclusion.
Among those announced as interested IN
the movement are Mrs. Wlckersham, wife
of the Attorney General. who Is nationa
chairman Of the federation, and Mrs. Eva
Macdonald Valesh one of the editors OF
the American Federationist. Others OF
the executive committee before whom the
question will come are Miss Annie Nor
gan, daughter of ]. Pierpont Morgan;
Mrs j. Borden Hartman. both of New
York, and Mrs. Horace Brock of Phila-
delphia.
Views Of Mrs. Valesh.
There Is great need for such a project
here" Mrs. Valesh said today. Il may
saw the loan association is almost sure
to be established.
There will be no trouble raising CAPT
tai to start it. Already many have come
to me and offered to contribute.
81 cannot say how much capital there
will be- 1t will be sufficient, however. fol
all demands.
The privilege of borrowing from the
society will be extended, l believe, to al
branches of government employees. Thi:
will not be decided, however, until the or
ganization is completed
Discussing the usury of loan sharks
Mrs. Nalesh said:
II have a good deal of correspondence
on the subject-most aggravated cases be-
ing cited by different persons who have
told me their troubles. These l propose
TO submit before the meeting of eXecu
tive council. They will be one Of the
greatest factors in Fastening the organi
Zation.'