El Paso herald. (El Paso, Tex.) 1901-1931, 1911-02-03

deposited gold ring, receiving 81 70
in return. The broker and his assist
ant were ready to swear that they
were returning the ring she deposit
ed, and as the woman had no wit
nesses for the exchange of tags she
was powerless Such instances occur
frequently.
During the last year the pawnbrok-
ing business in New York city amount
ed to $50, O00, 900. A careful invesIiga-
ton made by expert social workers
proved positively that at least So c0C,-
600 Of this sum had been illegally TAX
en- from the poor. An Italian woman
whose husband was injured by street
car pawned nearly every article CT
clothing she possessed to buy food for
the children while he was in the hos
pitaL In two weeks most of the fam
lily wardrobe had gone 10 the pawn
broker, although her pile OF tickets
amounted to less than SO. The agent
Of the street car company, appointed
TO look after the case, gave her money
to redeem the clothing, but when she
took her tickets to the pawnbrOker
he tried to substitute poor, WORKOUT
articles When, however, he discovered
that the street car company was inter
ested, and that a police investigation
would result if he did not produce
man, they were promptly forthcoming.
PawnbrOkers' Auction sales.
In every large city pawnbrokers'
auction sales are frequently held.
These are supposed to be the sales Of
unredeemed pledges left at the shops
by their owners. AS a matter OF fact,
articles are seldom auctioned off in
the same shops, in which they were
pledged This is partially on account
Of the law requiring the pawnbrOker
TO return to the legitimate owner Of
ticket any surplus money realized
for the sale Of an article above the
amount of the loan and interest, less
10 percent for the expenses of the sale
Holders of tickets are more likely to
attend auction sales in shops where
they have deposited articles, so they
may have another opportunity to re-
deem them This would deprive a
pawnbroker of his greatest profit.
In high grade shops, where there is
prospect of pledges being redeemed,
pawnbrokers frequently add to their
income by charging extra usury after
the time required by law has expired.
For example, an army officers wife
placed two diamond rings valued at
$3.50 with pawnbroker. She received
a S75 loan upon them. At the expira-
deem them and for some time the
pawnbrOker received from her So
monthly as a special bonus for hold
ing them over. This, of course. in
addition TO his regular rate of interest.
Municipal Ownership Urged.
Many social science students are ad-
vocating government or municipal
ownership for pawnshops. While IN
der present conditions this would Of
course, be impractical in America, it
is being successfully carried out in
Europe. IN Paris a borrower may
pledge any article, receive a fair value
and redeem il at his convenience
knowing that IN the meantime it will
be well cared for while in pawn and
that he will only be charged q fair
interest on the sum borrowed. The
same conditions obtain in most Of the
German cities.
The thrifty German in comfortable
circumstances does not hesitate to re-
sort to the pawnshop for his own prof
it An American spending some time
in Berlin said to a German acquaint-
ance on a mild day last spring:
Where have you left your Overcoat2"
In the pawnshop." was the reply and
In answer to the Americans surprised
look the German explained: 1t is
safer in the pawnshop than in the hotel
and as it only costs me ten cents a
day it is cheaper than to tip the boy
in the lobby A few months later the
two met in Switzerland and the Ameri-