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. y

Despite all the efforts OF law
makers and law-enforcers, there Is
one pest which thrives in Detroit
upon the sorrows and necessities OF
the city's humber citizen. without
regard for usury laws or attempts 10
enforce them, the loan sharks con-
tinue 10 mulct their ignorant victims.
Hundreds OF men and women are nav
ing their savings BLEED away In pay
ments of exorbitant interest on loans
which temporary stress compelled
them TO make.
Because the law which was passed
some time ago TO check the work OF
these men and companies has been
declared unconstitutional, there Is HI
tie restraint upon them today.
Nevertheless. there is one refuge
for the needy who have become en-
trapped in this mesh OF debt and
usurv. The mayors Office Is the
Mace they seek for relief and Sergt.
Al Hicks is the man who has forced
the loan sharks 10 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 othce. ne mas
compelled settlements which saved
the borrowers approximately SoO'Ooo.
! Yet not one per cent OF the people
f., who borrow money from the loan
agencies ever appeal 10 the mayor 8
office for help. That is why the
money.loaning business is so fruitful
OF profit. and misery. in this city
The typical case OF loan shark VIC
| tins is the clerk or artisan who mas
I been unable TO save and finds hlm'
self suddenly beset by sickness or
similar misfortune which requires an
! Immediate sum OF money. He must
have IL; IL seems that any price VIII
no; he too high Therefore he Turns
! TO the loan shark He is assured that
he will be given easy treatment ana
: 10 he appears to he responsible. he is
advanced s25. $50 or even 500 IN
some cases. The medium amount is
the usual one and often the borrower
must give references 10 friends VINO
/ he feels. are morally hound TO his
debt so that he must clear 1t MIN
self
Perhaps he gives notes perhaps or
doris on his nav. In any case, he Is
ant 10 find himself confronted with
n continuing debt at a high rate OF
interest. If he falls behind, II is
very likely that principa, and inter
est will be Jumped and he will find
himself paving usurous interest on
the compounded debt. II he rebels
( the loan shark goes 70 court 10 col
lect the balance Of the original dent
with interest at the legal rate, arc
gets Judgment which hangs over the
debtor
A mild case which came IN the at
tention OF SerCt Hicks this week was
that Of woman who had borrowed
$50 within the year After she haJ
maid s55.S5. she found herself stl
charged with s31.60 balance. So sh'
came TO Sergt Hicks. An hour late
she had receipt in full without tn
pavr'nnt OF another dollar.
In November alone. Sergt Hick
settled 65 cases. The loans in thes
cases had amounted 10 $3.50. On >
loans. the borrowers had already PAL
s1T3H more than the loan shark
had the right 20 exact at the lega
rate Of interest, Altogether these &
borrowers saved S949.62 by the So
Elements effected.
That was a typical months worl
If all the men and women who ar
Ibe,ng blod by usurers were 70 tlr
ITO tho mayors office for relief. tn
total OF the extortionate charge
drained from the improvident OF tn
CITY could he known. As II IS. eve
with the number OF complaints he re-
, ceives. Scrgt. Hicks confesses that h
cannot even guess at the extent c
, the business