New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-12
I0AV MEN QUIT BUSINESS
abitman'S Raid SCareS Many
Into Retiring from Vocation.
M lET.UP IN PROSPECT
instruct Attorney Refuses to
Call Halt Pending Rene
dial Legislation.

,.--,AS by the raid made on Monday
| +ba orders OF District Attorney
Ie,,,,an. which resulted In eight arrests
| ns,rv. many of the more important
| W, lenders went yesterday to Franklin
| n.rs the Assistant District Attorney
| e nushing the campaign against loan
| S-.,ss and agreed TO go out Of business.
s go. sat5 that they would cancel all out
| ..,ndirg accounts on payment or principal
/ .4,b interest at 6 per cent.
s.r,pel Zlott. one Of those arrested, has
=. hack 10 his trade Of plumbing.
sS@.sos1 Rvblnstein. another Of those cor
w, W. n the raid. promised to go out OF
i-.1.ss and settle all accounts, whether
nsr cent interest were paid or not.
r. p Horton. owner OF Ward & Co.
r5uards & Co. money lending con-
came from ST. Louis to tell Mr..
80 that she was closing her places.
Dr. .r,,,-,, woman who IS manager Of Childs
q IN Nassau street. under an as
80 name. told Mr.. Brooks that her
o4sce would DO closed soon. she said the
So a. NJ. 81 West 42d street and the
Rr6oslyn branch had already smut theF
doors. ,-..,,.-- ,,
lanes r. Clarke, OF clarke b4OIAe+S' IL
..,sed as private bankers, called to say
,hat the firm would look after its small!
,nnns carefully and see that they did not
Internationally violate the law.
Remedial Law Astatsd.
A. a meeting Of the money lenders held
A. No 14u Broadway yesterday COM
rnlttee vas appointed to confer with Ar
,b,,~ u Ham. OF the bureau Of remedla!
r,,r,s of the sage Foundation, as 10 a bill
III, night De introduced in the Legis-
,atYra next year fixing a higher rate Of
,,+A-asr for unsecured loans or loans on
saIarv. II IS expected that another COM
rntrtAe will call on the District Attorney
coon 10 suggest that prosecutions be halted
unt,l the law has been changed.
District Attorney Whitman said yester-
say that he would not consent TO any such
Agreement The prosecution Of all who VIC
sted the law would be pressed, he said.
though the court might suspend sentence IN
,hs case of those who had abandoned the
businsss The District Attorney believes
nat 8 per cent IS too small remuneration
FOR those who lend money on scant security.
Y. does not believe, however, that the rate
,sould be more than "A per cent al the
highest The highest rate OF interest Mr..
Brooks has found is 232 per cent and the
!ovest So per cent.
Jacob Brodie. who is under bail on an
Indictment charging usury and who was
sssd.s10 the ether day for interfering with
ds,s5dyes who had arrested his daughter,
vas arrested again yesterday by Detective
NcconviIe The arrest was made in
Bgodles Office, at No. 116 Nassau street,
and was on q warrant charging usury.
Tia complainant is a sergeant Of police.
sroae refused 10 open his safe for Neon
vile ana was locked up IN the Greenwich
street. station. Mr.. Brooks directed that
bsa should not be accepted until he had had
spportunity 10 scrutinize the bond.
Dear as Life Itself.
Yssterday a Yiddish carpenter went TO
" Brooks and said that this morning his
tools we're 10 be seized on chattel mort
gags unless he paid $50 70 a money lender
q .EhoH he had already paid $3.50 on
la of 500. L might as we'll die tonight
z!d the man. "as lose the tools with which
: am nv bread" AIr. Brooks promised
I'm that a lawyer would be on hand TO see
nat he got justice and that the money
lssasr would he dealt with by the District
Attorney
Il was learned yesterday that two Of the
detectives who took part in the raid on
Monday were themselves the victims Of
ne Of the men whom they arrested.
New York is not the only city in which
he campaign is being conducted. Mr..
Brooks has been IN Communication with the
-osecurcrs Of St. Louis, Chicago, Indian
spois Philadelphia, Boston and other cities
1gsrdIng the evil