Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1912-11-12

conference with her attorney IN the
Union building. Mr.. Long, 1t Is UNDER
stood. has been instructed to nght the
case to a finish, without sparing ex-
pense.
The is alleged to ave OBJ
tanned patrons by soliciting through
the mails. A representative, 1t Is
said. was kept busy visiting pros
pective borrowers.
Accounts Cancelled.
In several instances, the ponce
claim. men who had paid in mueh
more than their principal and re-
helled against being further mulcted
had their accounts Cancelled on con-
dition that they should find W o or
three new men willing to borrow
money.
The idea of having a woman at the
head of the concern. according TO the
nolice. was to inspire confidence in
would-be borrowers and to avoid I'M
nIeasant scenes that would have been
inevitable if men were n the ollce.
Miss Hyland with Crater was ar
rested by Plainclothesmen King n
smith in her apartment late ye5ter-
dav The detectives were
forced to use a ruse in entering.
Victim Tells Experience.
Charles A. Chase. of 361 Johnson
avenue. explained in detail to an
Evening Star reporter today his ex-
perience.
..Three years ago." he said, Il Dor
roued sa5. When the note was due
I had lapsed. The note was doubled
and was then in dtbt for $40. II
lapsed again and a new n was
made for $40. 1 grew tired OF the
continual drain and went away for a
time. I had laid altogether $12O to
the When I returned, my
mother assumed my obligation ana
she has paid $104. She still owes
$780,
MIR. Long said today hat he would
proye thai Clifford Foster, of 22z
sherman avenue the first complain
ant to ask for legal redress, was a
habitual borrower.
But Foster did not borrow at all, SO
he SAYS. His father received a loan'
Before he had repaid it he was taken
Ill and Sent to a hospital. Even
while he was there, however, the loan
is said to have bounded
hin, Then Foster assumed his
fathers note and has peer trying TO
pay it off for two years.
Superintendent Fischer, of the New
York division of the Pennsylvania
railroad. has distributed a circular
letter offering immunity to all EN-
ployees who will testify against loan
sharks. The invariable rule of the
has been to discharge men
who dealt with loan companies. In
this instance, however, the rule VIII
be overlooked.
In 1906 Hugh Gallagher, a clerk
for the railroad in Jersey City, acted
as an agent for a loan broker. When
he was exposed he killed himself.
Ask 169 1-3 Per Cent.
In order to earn what terms the
large loan companies would make to
an applicant, an Evening Star re-
porter visited four of the larger firms.
The American Loan Company, at
Broad and Market streets, was the
first to be visited. The reporter asked
for a loan of SIS, and Inquired what
the rates would be.
It'll cost you $3.50 a week for
twelve weeks the clerk said.
That would bring the amount re-
paid to $21. Goa premium of $3.50 on
SIS in three months. In plain figures.
the ate of interest a year on that SIS
would be 1859 1-3 per cent.
This is how the American Loan
Company advertises it's 1853 1-3 per
cent. proposition:
IF you have never borrowed or if
your experience with other companies
has not been entirely satisfactory, we
want you to call and see us. Let us
explain the American system. 1t will
please you"