SIXTY PER CENT.
MONEYLENDER’S MINIMUM DISCLOSURES IN ENGLAND. Australian and N.Z Cable Association LONDON, June 18 Surprising disclosures of the methods of moneylenders were made before a select committee. Moneylenders declared that 60 per cent, was the lowest cSharge that ensured a reasonable profit. Mr Daniel Williams, High Court Receiver, said that 80 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.
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Bibliographic details
New Zealand Times, Volume LII, Issue 12169, 20 June 1925, Page 5
Word Count
129SIXTY PER CENT. New Zealand Times, Volume LII, Issue 12169, 20 June 1925, Page 5
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