The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1910-09-08
Pawnbroking i'm France.

There is only one pawnbroker in
France, the Mont de Piete. CONCERN
writes: practically for more than a
century, and absolutely for more than
so years. the Mont de Pete has en-
joyed a complete monopoly of the
pawnbroking business in France. By
article All of the penal code. any per
son lending money on pledge is liable
to Imprisonment, fifteen days to three
months, and fine of 100 to 1000
francs Il franc equals 1913 cents).
There are persons called ticket brokers
(merchands des reconnaissances) who
advance money (abut 20 per cent of
the face value) on the Mont de Piete
vouchers, and charge interest at the
rate of 10 per cent a month They
keep within the law by making the
contract purchase redeemable in
three months, but in practice there
appears to be no time limit.
THE sole rate of interest charged
by the Mont de Piete is per cent,
! plus 1 per cent fixed, interest being
charged by the half month, at the rate
| of per cent per annum. The valua-
| ton of pledges is performed by syn
posed to advance four-fifths of the
value of jewelry. ETC., and two-thirds
of the value of apparel, etc., but, as
they are liable for any loss on the
sale of unredeemed' pledges, they sell
! dom err against themselves.
! "Nominally, the contract is for a
| year but every effort is made to give
| the pledger a chance to redeem his
| goods, and it is usually nineteen to
| twenty months before they come to
the hammer. Facilities are accorded
for paying off the money by Install
ments, at the option of the pledger
the money loaned and the Interest
charges thus diminishing until the
amount is repaid and the articles re
deemed. The average loan is 81. Abou
100000 unredeemed pledges are solt
annually, at an average of $500 tt
$3.40 each.
ut is doubtful whether private en-
terprise could compete against thu
Mont de Piete, as it borrows the none.
it requires at very low rate of inter
est, and could easily compete agains
private pawnbrokers. Chicago News
Here's a Nice Little Bride.
Mrs. A. M. Atwood, a wealthy wild
ow of New York city. and r. II. Eos
ter, of Dalton, Mass, who met for tn
first time a week ago Sunday at tn
Metropole Hotel, in Oakland, made
hasty trip to San Rafael this morning
, where they were quietly married Tn
, nuptial knot was tied after severa
weeks of courtship by correspondence
and the newly welded couple, both o
whom are well advanced in years, lei
! for a honeymoon trip with Santa Cru
as the objective point.
Inc Correspondence lIdt l%o III
| couple to the altar began while Mrs
| Atwood was in Los Angeles recently
t She placed an advertisement for pro
posals with a matrimonial agency o
that city, and Fosters response came
together with 81 others.
Mrs. Atwood declared that No. 5
from a man she had formerly known
was on its way when she accepte
, Fosters proposal and agreed to NEE
t him here for the ceremony.
She said she accepted Foster becaus
he did not smoke. Il want ma
who does not use tobacco or liquor.
she said today, and strangely enough
Foster. who was about to buy clga
5 from the hotel clerk, desisted-
According to her own statemen
. Mrs Atwood is worth about $l0O,oO'
{ invested in real estate and stock
Upon the couples return from Sa
Rafael a will was drawn up in Whic
Mrs. Foster provided 100000 for Eos
ter in case of her demise. The bal
ance was distributed among relatives
She then paid the expenses of Eos
: ter's courtship, the hotel and sundr
bills of both herself and Foster, pun
= chased him some new clothes. an
then said:
1T wonder If the skeptical ones wi
: still persist in declaring that marr1ae
+ by correspondence is failure
The couple left the hotel with fou
. trunks and six suit cases, avowln
q their intention of travelling in STYLE
San Francisco Call.