LENDING MONEY
A COMPETITIVE BUSINESS.
SURPRISING disclosures:
! (Received 1.20 p.m.) LONDON, June 18. Surprising disclosures of the method? of moneylenders were made befpre the select committee of investigatipn. Moneylenders declared that 60 per cent, was the lowest charge to ensure: a reasonable profit. Daniel Williams, High- Cpurt re-, ceiver, said 30 to 35 per cent, of Tft:ceiying orders were based on petitions, of moneylenders, who accommodated, likely bankrupts and then . petitioned, chiefly in the hope of exerting pressure for selfish ends. Many s would, hot borrow btit for the persistence of the touts.
Mr. Tredgold, a solicitor, gave evidence that the touts first bled a prospective client and then caused lender.? compete for business. The touts dressed like peers, spent liberally and were often owners of ears.—A, and
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NA19250619.2.46
Bibliographic details
Northern Advocate, 19 June 1925, Page 5
Word Count
128LENDING MONEY Northern Advocate, 19 June 1925, Page 5
Using This Item
NZME is the copyright owner for the Northern Advocate. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in