New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-16

Ever susceptible 10 the wiles OF the
money lender who finally eXacts heavy
tolls for immediate benefits, the uni .
formed city workers, TO large extent /
have fallen into the clutches of per
sons oporating the latest loan scheme. /
Driven a few years ago from the .
profitable occupation Of lending money
outright at eXorbitant rates OF inter
est. willy individuals. who devise new
schemes for separating city employees /
and others Of assured income from
their money as fast as legislation to
protect the unsuspectinG is passed
have hit upon a new method. The
iowelrv business. in this instance, has
attracted many individuals.
Instead Of lending money r'nes'
watches or pins are sold on easy
payments" and in many instances al
vice is given the purchaser as 10
where he may pawn the article. ne
tory told bv one who has fallen into
the snares Of the jewelry agencies j.
inevitably a long tale of woe.
II was the mid monthly pay day IN
the city departments. Mingling WIN
Tho crowds i'm Maiden Lane during the
morning were hundreds of blue-coa'eu
fremen and policemen. A conStaht
procession Of them filed IN and out oil
Tho elevators in the office buildings III
tho diamond belt Worried, careworh
c,nressions were on the faces OF the
y,aiorif,. while the attitude OF All was
one Of quiet resignation 20 some uH
rIeasant duty which they hoped 10
rcrform quickly and without being oo-
served.
PAYMENTS Mean Hardship.
Each policeman and fireman that came
downtown had, il is fair to presume
part Of his pay in his pocket Nheh ne
slinncd quietly back to his home OF
Mace of duty it is equally reasonable
TO state that he had less money IMAM
when he started out. And the diner
,nce between the original amount ana
what was left reposed IN the cash tilIS
Of the iewelry sales agenclI IN man!
instances the sum paid Was greater
than the man could deduct from ms
salary without experiencing hardShlp'
EMPLOYEES Of the Police and Flre de-
partments are not the only Vicl'hS'
They are. however. the most numerous
Some employees in practically every
branch Of the city government are, OF
have been at one time, IN the clutches
Of the men behind the latest thihg III
money loaninC schemes. mat inc
heads Of the departments, the various
commissioners. have not had the mat
ter brought frequently TO their atteh-
ton is because they are the last per
sons the unfortunate employe wishes
TO know Of his predicamen.
Cases that have been made cause TOT
official attention and action, and there
have been several in the last twelve
months. have invariably been those
where the sales agency. when payments
ceased, made application through the
Municipal Court for an order TO garni-
shee the employees salary. When the
iewelry was purchased the employe,
unwittingly in the majority OF cases.
signed a confession OF judgment that
gave the seller the legal right to under
take such a procedure.
One telling blow has been struck at
the inscriptions methods Of the Jew
elry sharks, as they are termed. IL
was effected by the Legal Aid Societv
when that organization obtained de-
cision in the Supreme Court TO the ef
feet that q city employe had no right
under the law to sign an assignment
Of his salary which would later be
served upon the city paymaster and
the amount he owed deducted from his
check before he received the balance.
No Way Out OF II.
In purchases where a confession Of
judgment was signed, however, there
is no way under the existing laws IN
which 1t can be denied. unless there is
evidences of usurious practices manifest
in the application for garnishment o.
the employees salary.
The atmosphere Of Maiden Lane. tho
centre Of the jewelry traffic. has been
selected by tho instalment men as the
place most likely to give to their oper-
ations the appearance OF bona tide
dealings Sandwiched in between Of
fees Of some Of the oldest and most
reputable diamond and bullion mer- /
chants in the country. they carry on
their activities and proceed to prey
upon the city's workers.
The methods of the dozen or more
such establishments are practically
identical. The word loan does not sp-
pear in the name Of the company, upon
the Office directories posted in the low
or halls of the buildings or in the
circulars which are mailed to city en-
ployes. The chief means Of notifca-
ton Of the whereabouts of places
where jewelry may be purchased with
out deposit and upon weekly or month
ly terms are advertisements placed IN
a weekly newspaper that IS published
in the interests Of civil service en-
ployes'!'
How They Make loan"
A city worker who finds himself in /
need Of moderate sum of money too /.
frequently goes to one Of the jewelry I
credit companies. The office. usually T
a small room on an upper floor OF the I
larger buildings in the Maiden Lane F..
district, resembles anything but jew /
clry store. There is seldom a. stock /
from which TO make selections. II the F.
man in need Of money states that he
wishes 10 borrow il, he is told that /
the company does not make loans.
But" a suave individual behind
counter may tell him, "why not buy a
piece OF jewelry upon which you can
realize the money you need
system Of easy payments is out /
lined TO the prospective purchaser. 4
ring, watch or other trinket, gaudy be
yond its actual worth. is produced. The
matter Of selection by the buyer sell
dom enters into the negotiations. lie
takes what is offered him.
sign this paper, please" the agent
adds, IN manner indicating that the
matter is an after-thought.
II the purchaser asks the nature
Of the document he is told that it is /
merely "to protect the company's in
terests.' Its true purpose he learns |
later.
The fact that he has in his posses
sion q glittering diamond and that he .
,r oh -. q - l..