MONEY LENDERS’ METHODS.
EXTRA EDITION.
SURPRISING DISCLOSURES
HIGH RATES* OF .INTEREST. ACTIVITY OF “TOUTS.’' BY CABLE—PEEKS ASSOCIATION- -COP YRIGHT. Received June 19, 1.30 p.m. LONDON, June IS. ■Surprising disclosures of the methods of money-lenders were made before a select ! committee of investigation. Money-lenders declared that sixty per cent, was the lowest charge to ensure a reasonable profit-., , Daniel Williams, High Court receiver, said that thirty to thirty-live per cent, of the receiving orders were based on petitions, of money-lenders who accommodated likely bankrupts and then petitioned for their bankruptcy, chiefly in the hope of exerting pressure for their selfish ends. Many, would not borrow but- for the persistence of “touts.’’ •Mr. Tredgold, a solicitor, gave evidence that “touts’’ first bled -their prospective clients and then caused the lenders to compete for business. “Touts’’ dressed like peers spent liberally and were often owners of cars.
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Bibliographic details
Hawera Star, Volume XLV, 19 June 1925, Page 9
Word Count
144MONEY LENDERS’ METHODS. Hawera Star, Volume XLV, 19 June 1925, Page 9
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