Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-04-02
LOAN SHARK FIRMS
MAKING REFUNDS
Hundreds of Dollars Paid Back
to Borrowers in the
District.
FOURTEEN COMPANIES
NEEDING AGREEMENT
Only Three Have Failed to Compro-
mise-More Money Lenders
Are Accused.

Hundreds of dollars are being refunded
daily to borrowers by loan shark COM
panies which signed the compromise
agreement disposing Of the prosecutions
against them in Police Court. according to
statements today by repres of
the corporation counsers office of the
District
Fourteen companies have agreed to the
compromise stipulation. and. so far as
can be learned. are refunding principal
and interest charges In all cases that
have received the 20. K" Of the cor
poration counsers office.
Borrowers who have paid up old notes
made since the law went into effect may
call at the Districts legal department
and ascertain just how much they have
been overcharged by the companies. The
amounts are marked on the passbooks,
panies to refund them
Likewise, in the case Of notes made
at illegal interest rates which have not
been cancelled, patrons of the money
lending concerns may find out at the
corporation counsers Office how much
they have left to pay under the COM
promise agreement, or If they have
paid more than is required. may obtain
a refund order.
Busy Investigating Claims.
Attorneys Stephens. whiteford and
Williams, assistants to the corporation
counsel, have been kept busy the last
two days investigating claims of Dor
rowers and have issued orders for the
refund of large amount of money by
the companies. The loan shark"
cases are requiring so much attention
that they have resulted in practically
inn
pending in the corporation counsels
office.
Only three companies have failed to
sign the compromise agreement. One of
them will be prosecuted because of the
refusal of the corporation counsel to per-
NIT it to settle on the terms that were
offered other companies. This concern,
1t is stated, Is to be punished because of
its having sent out letter criticsing as
''pikers'' those who awaited themselves
of the penalty clause of the law.
OF the two remaining companies that
have not come into the agreement, one
maintains an office in Rosslyn. Va, it
is stated, and no Information has been
obtained to the effect that 1t has violat-
ed the law in the District Officials Of
the other company, who are in New York,
are being communicated with, and 1t is
believed that this concern will sign the
agreement.
Lender Gets Sentence.
Another loan man pleaded guilty" to
charge Of violating the loan shark
law in the Police Court today and was
sentenced on the first count to pay a fine
of 500 and on the second count to a
fine of $500. or sixty days in default
and thirty days absolute sentence. Later
sentence was suspended.
Robert D. Boarman, as manager of the
National Loan Company, 625 F street
northwest, was the defendant. He signed
an agreement with the corporation coun-
sci of the District of Columbia that he
will return to borrowers, making appli-
cation therefor, all interest charged and
paid on loans since March 8. 1913. and in
other cases accept three-fourths of the
loan in full payment thereof.
Joseph D. Leonard, treasurer of the
Mercantile Cooperative Bank. at 10th
street and Grant place northwest, who
was arrested yesterday afternoon on a
charge of violating the loan shark"
law, gave 500 collateral in the Police
Court today for his appearance for trial
April Is.
Swore OUT Warrant.
Milton G. Carver whose address was
given as 211O street northwest. swore
alleges a money transaction with the 10th
street firm about year ago, charging
that he was assessed a rate Of interest
in excess of 6 per cent a year.
Nolan L. Chew, manager of the firm
Of n. L. Chew & Co.. Of 704 18th street
| northwest, who is also charged with
violating the loan law. gave $500 real
estate bond in the Police Court today
| for his appearance at trial April 16.
In each of the aboye cases, as in those
Of the thirteen men who were SEN
fenced Tuesday, the arrests We're made
f,ty 6atn NC rf
police headquarters.
Robert Hirschfeld Dead.
| SALZBURG, Austria Hungary, April
2.-Robert Hirschfeld, the musical COM