Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-01-11
Representative Dyer Presents
Report of Conferees.
PAWNBRoKERs IN ARMS
Actively at Work to Defeat Provi
sions Agreed Upon.
SENATE FIGHT SEEMS CERTAIN
Suggested That Money Lenders May
Move Their Places Just Across
Maryland Line.

Representative Dyer Of Missouri Of
the House District committee presented
to the House Of Representatives late this
afternoon the conference report of the
Senate and House on the loan shark
bill. which is identical with that presented
in the Senate few days ago.
Representative Dyer said this afternoon
that he earnestly believes an early OPP
portunity will be given to pass upon the
bill in the House, as it is generally under
stood that the measure is one Of pressing
Importance. Mr.. Dyer, the author Of
the bill. has had considerable experience
in loan shark legislation since he under
took to steer the present measure through
the House. He conducted a fight for the
bill on the floor of the House early in
this Congress. has conducted hearings
the loan subject.
Pawnbrokers Fight Bill.
Active work is being done at the
Capitol by representatives of local
pawnbrokers to defeat the motion for
the adoption of the conference report
on the loan shark bill and thus prevent
the bill becoming a law in it's present
form.
They seek to have the bill sent back
to conference with at least informal In
structions that pawnbrokers are not
to be included in it's provisions and
therefore are not to be required to cut
the interest rate of 3 per cent per
month which they are now allowed to
charge to / per cent per month as
would be required by the loan shark
bill. Many senators have been inter-
viewed and the pawnbrokers' side OF
the case presented to them. 1t is pre-
dicted by their friends that the loan
shark conference report cannot be
adopted in the Senate, at least without
a strenuous fight.
Position Is Outlined.
Attorney Henry E. Davis is the most
active of the representatives of the pawn
brokers at the Capitol. In speaking of
the position of the pawnbrokers this
morning, he said
THE Monday Evening Club. which in
augurated the movement tor this loan
shark legislation, the Central Labor
Union, the police department, the board
of charities and other organizations are
not III favor OF the restrictions proposed
to be imposed on the pawnbrOkerS by this
bill. Here in the National Capital we
have the best pawnbrokers' law any
where in the country, and 1t has been
working well.
some OF the biggest of the pawnbrok-
ers have been going over their books and
they find their average loans are only
between So and 81, the great part Of
them small loans of - or under. Only
about one-tenth of the articles pawned, it
is SHOWN, are actually sold. because they
are not redeemed.
THE effect of the passage of the loan
shark bill, with it's restrictions imposed
on the pawnbrokers, will be that those
engaged in making small loans will have
to go out Of business
May Ask for Hearing.
1t is understood that the pawnbrokers.
if they succeed in having the bill sent
back to conference by the rejection of the
conference report already agreed upon,
will ask for hearing before the con-
ferees and at that hearing will urge the
cause of those desiring small loans of
money as sufficient ground for altering
the provisions Of the measure.
A suggestion that money lenders will
move their offices just across the District
line into Maryland, if the loan shark bill
becomes law. has come to the attention
of those backing the legislation in Con-
gress. 1t is.interpreted by the friends of
the legiSla ton at the Capitol q part
of the efforts by money lenders to de-
feat the legislation, and it Is pointed out
that Maryland laws would probably meet
such a situation.
Owing to the executive sessions of the
Senate, Senator Curtis was unable to get
action today by the Senate on the con-
ference report. He let 1t be known, how
ever that he will take the first oppor-
tunity to bring up the report for con-
sideration and be prepared to ask it's
adoption as protection against the ex-
tortfOnS of loan sharks in the National
. Capital.
James NJ. Sappington and B. F. Han