MONEYLENDERS’ METHODS
SURPRISING DTSCLOSUR.ES. London, June IS. Surprising disclosures of the methods of moneylenders were made before a select committee. Aloneylenders declared that 60 per cent, was the lowest charge that ensured a reasonable profit. Mr. Daniel Williams, High Court Receiver, said that 30 to 35 per cent, of receiving orders were based on the petitions of moneylenders, who had accommodated likely bankrupts and then petitioned, chiefly in the hope of exerting pressure for selfish ends, Many would not borrow but for. the persistence of touts.
Mr. Tredgold, a solicitor, gave evidence that touts first bled the prospective client and then caused lenders to compete for the business. The touts, who dressed like peers, spent liberally, and often owned cars.—Aus.-N.Z. Cable Assn.
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Dominion, Volume 18, Issue 223, 20 June 1925, Page 7
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122MONEYLENDERS’ METHODS Dominion, Volume 18, Issue 223, 20 June 1925, Page 7
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