Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-01-09
DELAYED DAY BY REQUEST
Senator Townsend Wants Chance
Given to Study Conference Report.
YIELD TO REACH AGREEMENT
Conferees Give in to One Another
on Amendments in Dispute.
Thinks Adoption Sure.

conference report on the loan shark bill.
as agreed upon yesterday, early tomor-
row afternoon. according to notice
given in the Senate today by Senator
Curtis, leader OF the fight for the legis-
lation i'm the upper house of Congress.
Senator Curtis laid the conference re-
port before the Senate this afternoon.
After it had been read, Senator Town
send of Michigan objected to considera-
ton today Senator Curtis did not take
issue with Mr.. Townsend. but did give
notice that immediately after the routine
morning business tomorrow he would ASH
the Senate to act on the measure.
Senator Townsend, it is understood.
does not intend to oppose the adoption
of the conference report. He acted TO-DAY
upon request, so that the effect or the
conference report could be studied py
those interested in the legislation
Work Against Measure.
IT developed today, however. that some
money lenders to be affected by the pro-
posed legislation are at work around the
Capitol in an effort to prevent the adop-
tion of the conference report and thus
hold up the entire legislation. Senator
Curtis was asked to withhold the pres
entation of the report. but he replied
that, as a friend of such legislation he
could not comply.
II will present the report and I think
1t will be adopted" he told those making
the request. A.,
Should opposition to the adoption of the
report develop in the Senate tomorrow y
is understood that Senator curtis VIII pt
prepared to urge the necessity Tor tht
Loci ic1o n
money lenders from poor persons IN tht
National Capital. He will be prepares
with the evidence produced before th'
Senate and House District comInttees
showing loan sharks of Washington have
charged as high as 100 per cent on SINAI
loans, that they have compelled the pay
ment of loans several times over ID,
claiming special fees. interest charge
| and the like.
House and Senate Yield.
On three Of the twelve amendment
| which were in dispute In conference th'
| House gave in to the Senate On ali o
the others the Senate yielded 10 LII
| House. AS three of the amendments re
| lated simply to the numbering OF sec
tions, the agreement was that the Sen
| ate won three Oh lts ahehu"e'' "
| the House six.
! The House conferees granted the Sen
| ate amendment requiring that the Don
of $1,000 to be filed by applicants 10
ful observance of the law shall be re
| newed annually in October, wnen IL
| censes are TO ! e renewed -,
| The House conferees also yielded Oh
that amendment limiting the amount
| loans to 500, making dismissal the pen
altv TO be imposed on government clerk
| violating the law and providing tina
any person contracting. directly or indi
! rectly for or receiving a greater rate o
| interest than that fixed In this act snai
| forfeit all interest so contracted for o
received; and in addition thereto shai
| forfeit to the borrower a sum OF money
to be deducted from the amount due 10
principal equal to one-fourth OF Tn
| principal sum.
Yields on Penalty Clause.
The third and only other difference
upon which the House yielded to the Sen
ate was the penalty clause. which pro
| videS:
THAT any violation of this act shall
be punished by fine of not less than -
and not greater than 500. or by impris
onment I'm the Jail workhouse of th'
! District of Columbia for not less thar
five nor more than thirty days. or botl
| such fine and Imprisonment. in the dis
| cretion of the court. The Commissioner
| (of the DISTRICT shall cause the corpora
| tion counsel to institute criminal pro
| ceedings for the enforcement of this ac
before any court of competent jurisdlc
! ton.
| Most important of the six points upol
| which the Senate conferees yielded wa
that making Iawnbrokers subject to tn
provisions of the bill. The chief effect o
| this will be. ii is said, to cut the rate o
interest to be charged by them to j pc
cent per month. cut OF nearly two
thirds.
Upon two other sections. inserted in tn
bill by the House and eliminated by tn
Senate, the Senate conferees yielded t
the House. These provide:
Where Senate Yields to House.
..That i'm any foreclosure on any loal
made under this act no charges for at
| torneys' or agents fees shall be made o
! collected which will exceed 10 per cent o
the amount found due In such foreclosur
proceedings.
THAT in any contract made in pursu
| ance of the provisions Of this act
! shall be unlawful to incorporate an,
| nrovision for liquidated or other dam
ages as a penalty for any default or for
| feiture thereunder
| The Senate conferees yielded to th'
House and thereby eliminated pro
! vision in the bin specifically to allow
| nerson to loan his own money at rat,
| not TO exceed 10 per cent per annum.
PAT DEVLIN DEAD IN CHICAGO
4 1Avv