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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Chicago Eagle
Location
Chicago, Illinois, United States of America
Date
Jul 14, 1900
Page
2
A fragmented account traces Sam Kanter and associates with Max Weber in a Chicago loan scheme. It cites misused salary assignments, threats to the City Treasurer, and a widening loan scandal affecting hundreds seeking home funds while naming numerous firms and individuals connected to the mortgage and loan trade.
Patrolman Patrick W. Horan of the Lawndale avenue station faces arraignment on charges of obtaining money under false pretenses from David Weber of the Chicago Credit Co. He is jailed in default of a 500 bond as investigators probe links to loan sharks and possible malfeasance involving Justice Wood and city officials.
The article critiques credit sharks and loan men exploiting public offices to collect debts. It notes a City Treasurer vow against using his office as a collection agency and questions the scale of business by these men in county offices. It cites public interest in personal property taxes paid by sharks and the high costs charged to borrowers. The piece hints at figures and further details in another column.
The text describes property owners frustrated with rebates on special assessments and questions why lenders like the Webers avoid paying personal property taxes while collecting what they claim from the Lefty. The tone suggests local grievances over tax policy and inequities.
Democratic critics urge Miller and Randall to answer charges over lax loan shark oversight as election nears. They list tenants of debt including Weber pawnshops and loan outfits and question why these schedules were accepted, highlighting a demand for explanations from the Board of Assessors.
A public dispute denounces the Board of Assessors for under taxing the Weber loan firm at 341 South Clark Street while harsher bills fall on other businessmen. The piece accuses officials of favoritism toward loan sharks, cites tax figures for Sam Richardson and Chicago Loan Co, and warns of further examinations of similar lists.
In September 1800 the Cook County grand jury condemned the activity of chattel mortgage sharks and confidential credit lenders. It urged the establishment of state supervised chattel banks to combat poverty and crime, noting current limits of the new law.
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