60 PER CENT.
CLIENTS BLED MONEYLENDERS’ METHODS. INVESTIGATORS HEAR EVIDENCE. By Telegraph.—Press Assn.—Copyright -Vus. & X.Z. Cable Association. .(Received June 10. 12.5 p.m.) LONDON', June IS. Surprising disclosures of the methods of moneylenders were made before a select committee of investigation. Moneylenders declared that 00 per cent, was the lowest charge to ensure a reasonable profit. Mr Daniel Williams, a High Court Receiver. said that JO to 35 per cent, of receiving orders were based on the petitions of moneylenders, who accommodated likely bankrupts, and then petitioned. 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 the touts first bled the prospective client, and then caused the lenders to compete for business. The touts dressed like peers, spent liber-
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Bibliographic details
Star (Christchurch), Issue 17568, 19 June 1925, Page 11
Word Count
13760 PER CENT. Star (Christchurch), Issue 17568, 19 June 1925, Page 11
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