Deseret Evening News | 1909-12-31 | Page 2 | Loan Shark Meets His First Waterloo

LOAN SHA MEETS HIS Ills FIRST RUST WATERLOO Morse orso Decides DeIces That When len Usurious Interest Is Charged the tho Debtor Need Not Pay Pa When j usurious interest IB is II charged by b a loan shark In Utah Uth the debtor has ha recourse In the courts and need not pay pa it This decision was reached Thursday by Judge C W Morse In the case of J H II Haynes Hayne against D H Tolman and the tile Rio Hlo Grande Grando Western Vestern Railway company compan enjoining tho the rail railroad railroad road rOd company from paying to Tolman wages due Hayes Hl es amounting to 1180 1150 In passing g upon this case cas Judge Morse lorse upheld the loan shark law passed by bythe bythe bythe the recent legislature turo dealing a heavy ea blow against tho the loan agencies with wih which Salt Sat Lake is 15 Infested This Is the first time tho the law has been tested and it may ma be appealed to tho the supreme court court As the decision stands now the loan agency which charges usurious Interest is 15 practically put out of or busi business business business ness Hayes Haes borrowed 33 and In three thle months paid 36 on It Tan Tolan an declared that Jie he e still stil owed him lila 20 on a note n te given iven when the original loan loun was made Tolman filed fild suit against at Haynes when he refused to the 20 and reused pay pa gar garniSheed garniSheed his wages at the tho Rio Hlo Grande Western estern where ho lIe was Wa employed as asa asa asa a boiler boier maker makel Haynes Hanes was discharged when tho the garnishment was wa levied Then Haynes died suit against Tolman and anti obtained an injunction restraining tho the railroad company campan from rom paying his wages to Tolman Judge Morse held by Ms lila decision that Haynes had more than paid palt for or tho time loan declaring the note noto void and assessing tho the costs 2150 against Tolman