Show FIGHT ON LOAN SHARKS IN ATLANTA In the February American Magazine I In appeals a of or a tremendous n nt against loan sharks sharis now hein being car car- on In Atlanta Public spirited men 11 ha ha c their time and l to a bank which lends lond mone money to poor people at reasonable rate Previous Pre l to tho organization of or bank baI t four enty roul big loan loaf sharps harps In Atlanta charging har operated successfully hll from 50 to per reI cent annually for their loans 1018 Following Is 18 an extract from the article containing the stories of lr several sev seve eral erl rases handled r recently by br tlC UtO bank showing Iho advantages to smal borrowers bor- bor rowers of or having an au Institution om f-om which they oan get ct mone money at proper rates of or Interest A earning 7 per pcr w week ek with wih no 10 debts sought h to 10 borrow 50 to educate te teher her sifter an aM a hairdresser She was in indorsed In- In by her employer and a ceri In tle office Her said that she would pa pay 1 a week If Ir she ehe promised to Jn n lle of her small smal salary and the lo loan n was made mac Her sister Is 18 now making 50 O Oa a month a as a er and the tho loan lu hI paid A earning 6 a we week k wanted to 10 borrow 0 to bu buy a cow CO COler Her ler employers indorsed h her r and the loan was waR made mac hn bought hO thc tho cow sold mi to her neighbors borrowed a second 50 50 after s l. Ix months bought another cow cowand and now makes 50 a n month from the milk ml She has 18 thus tripled her Income thank to 10 tho bank Without tho bank lile she would woul still be e exactly acty where herc she sho was wa before Her Her only basis of credit was her honesty an and labor Formerly that would have hae availed her nothing I A brick mason age 26 with a wife and two children had in his family and himself got ot Injured Ho fell rel of or course Into debt owing 3 t O to the grocer groer 15 to t doctor 18 to tho to drug druggist rug rug- List gist and clothier i 25 to tho coal dealer on and 5 or 10 0 to other creditor He le about to tako talco the awful plunge into I tho tho- grip of or the tho monc money sharks ark when the bank was founded He borrowed HOO settled all ni his debts paUl off of the loan at atthe atthe the rate rte of or 2 per wee week and Is now pa pay paying ing a n loan at nt the tho same rate rate with which he bought In his two shares of class B stock Next June ic will wm be out of or debt with 10 Invested and earning earing him 5 per centA cent A uA man with a wife wie and two children to support on 5 a month owed to the mon money y sharks p paying paying- from B 5 per percent percent cent to 25 5 per cent per month Interest and nl also o 20 to legitimate creditors doctors doctor grocers er etc His case cee seome seemed absolutely hop It I appeared Imps Imps- sible that this poor man could rv r c cs- cs capo cape from the clutches lie He a wag hasick ha hal sick Ick with wih worry and almost In dc pal The bank worl worked for tor weeks over o er hit hit cas caso and finally after ater r per personal nal Interview with wih all aJ his creditors got them to to a n 26 6 per cent reduction enabled en en- the bank to lend Jend him a turn sum wit with which he hc could 8 settle te his hlf debts bi but which ho he could also alAO pay back to the thc ban banout out t o of or Ills weekly envelope Th Tho ma mn n gained twenty pound In weight In 1 Ix weeks cels after the transaction Ho 10 ha has never ne el skipped a pJ payment to the bank an anho and oin his bank 1 Is Iscon ho he is going a soon a as loan con to pa pay back the tho 26 p per r con cent discount to Ms legitimate creditors Among Among- all aJ the bills bUs this poor por man owe owed only one to a Jeweler for a present present pres pres- ent to his wife was as not either lher for th h ire necessities of Ir life or for Interest t to tho loan Joan sharks |