The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1912-11-01
PUSHES WAR ON
N. Y. LOAN SHARKS
Prosecutor Says Guilty Parties
Often Protect Themselves
Behind Innocent Employees

NEW YORK, Nov. Loan sharks
can operate practically unhampered
By any fear OF criminal prosecution.
according 10 Assistant District Attor-
ney Franklin s. Brooks. After having
examined into every one OF the cases
now pending against Jacob Brodie.
called the King OF the Loan Sharks,
and others, against whom criminal
complaints have been lodged. Mr.
Brooks is of the opinion that IL will
be almost an impossibility to secure
a conviction OF the real criminals.
During the last few months there
have been many additional complaints
brought 10 the district attorneys
office by persons who have been
charged usurious rates OF interest, be-
sides a commission" when taking
out their loans. In all the cases Mr.,
Brooks has found that the evidence
might make ~ possible to bring in a
conviction against some small salar-
led clerk in the office Of the shark, .
but that in practically every instance
the loan had been so made that the
real criminal was, at the moment out
Of the office, and the poorly paid
clerk was the only person who could
be prosecuted.
In most cases too these clerks are
women or young girls, and in many
Instances they have been ignorant OF
the criminality OF the actions they
took in carrying out the instructions
OF their employers
Advising Civil Suits.
Mr.. Brooks nevertheless announced
yesterday that he had interested sev-
eral society women in the matter and
| that an association had been formed
| TO bring civil actions against the loan
sharks in every case where the rates
OF interest charged had been usurious.
Following this line OF action Mr..
Brooks is advising all complainants
TO bring civil actions.
Mr.. Brooks cited a case which he
said was typical OF all A complain.
| had been brought and the arrest was
| made OF a young woman clerk in the
Office OF the shark She was inno-
but guilty from technical stand
point. In that case the complainant,
also a woman and the wife OF \ DO
liceman wished 70 withdraw the
charge and this was done The real
SHARK" did not suffer, but the clerk
was discharged and since then has
had difficulty in securing employment
on account OF the notoriety given TO
her case
Paid $257 for 5000 Loan.
The case of Mrs. Kate Schneider
widow of police officer, living at No
SO I Betiford-are., BROOKLYN. was given
as one typical of the usurious prac-
tees OF the lenders. In 1910 she Dor
rowed 5000 from Brodie. She was
required TO give - mortgage on all
her household furniture as we'll as her
wearing apparel, and her promissory
note was Endorsed by her four sons.
The loan was for three months and
Brodie, IL Is charged. deducted $40
as a bonus" and s.. 80 discount.
The loan was renewed at the end OF
three months and again $40 was
charged as a bonus and the interest
discounted. When the loan was final
~ cancelled. late In 1911, Mrs.
Schriober had paid In bonuses and
interest $257 besides the 5000 prin-
cipal
Mr.. Brooks will continue to prose
cute the cases against the loan sharks
but IL has been shown, he says, that
their arrest has been followed by a
resumption Of the business on the
following day. and since criminal pro
cedure seems useless 10 prevent the
continuation OF the business Mr.