THE PAWNBROKERS' BILL.

Greymouth Evening Star, 13 July 1908, Page 1

THE PAWNBROKERS' BILL.

[PER PRESS ASSOCIATION. 1 A WELLINGTON PROTEST. WELLINGTON, July 11. A deputation representing the Wellington Pawnbrokers waited on the Attorney-General to-day to protest against certain provisions of the Pawnbrokers' Amendment Bill. It was represented that the profits of the pawnbroking business was small by comparison with other busineses. The provisions in the present bill helped to reduce the profits by 75 per cent and pawnbrokers would have to go out of business. Hon Dr. Findlay said that there was no large or general demand for the bill but several cases had come to light in Dunedin which showed that as hi"h as 80 per cent interest had been Charged. The Money Lenders \ct was already in existence and the present measure was along the same lines Ho had no complaint against the pawnbrokers who were doing a useful business but the question was whether business could be conducted with a lower margin of profit, lie promised that before the Bill was passed by the Council; ho would allow the pawnbrokers to give evidence befoie a committee.