Search America's historic newspaper pages from 1836-1922 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the
National Endowment for the Humanities and the Library of Congress. external link Learn more
Image provided by: University of Illinois at Urbana-Champaign Library, Urbana, IL
Newspaper Page Text
THE OLD STORY OF WORKINGS OF THE LOAN SHARK-5
LEGAL AID SOCIETY TAKES A HAND fl
If you borrow $50 from a loan
agency, is it necessary to pay
back $75 before the debt is can
celed? Yes Guarantee Loan Co.,
No ! The Legal Aid Society.
I don't know. I am ignorant.
Mrs. Annie Sekora.
This is the attitude of the prin
cipals in another instance of the
relentless and ambition-stifling
clutch of the loan shark.
Stanley and-Annie Sekora 'and
their two children "were an every
day family,' the husband a laborer,
who brpught vhome his money
when he worked. But often he.
was idle. There were too many
men, and too few jobs. His pay
was $1.75 a day. On this the
family, the husband, wife, "and 2
children, a boy and a girl, lived,
and were happy, in their own
Then the children became sick.
Fred, 1-year-old, suffers from
head trouble, and slowly thfer hush
of eternal deafness is closing
down upon him. The eyes of
Dorothy 3 years old, are affected
and the lids cling together. She
only keeps them open a few min
utes during the day. She is help
less, fretful. A chair, into which
she is strapped, is her world. The
oblivion of blindness is shutting
down on her. But already her
childish eyes have seen too much
of the sorrow of the world. Joy
is a stranger to them.
With all of this, the husband-
lost his place. For eight month's
he was out of work. The family
must be fed. The children must
have medicine. A home must be
And there was no money. '
Then Stanley and Annie Se-,
kora turned to the loan shark.
They did not know it was so easy
to obtain. Here was an end to
the difficulties. Deluded inno-v
cents, they did not know that"
their troubles had just began.
They borrowed $50 from the
Guarantee Loan Co., 10 months
ago. For this they signed papers,
agreeing to pay back $75 in 12"
monthly payments at $6.25. This
was interest at the rate of 50 per
cent, but they knew nothing of
the intricacies of interests. Andl,
if they had, they needed th'e
money, and it was in their -grasp.";
Then Stanley and Annie andv
their two babies lived at -2414
High street. But the strain of
keeping up their monthly pay
ments to the Guarantee Loan 'Co.
was too much. They moved' to
2449 N. Ashland, 'the home of
Stanley's mother. Then Stanley;
got work a day now arid then;
Annie wanted a home of her
own again. They moved to 2518
N. Ashland, where they now live. -
Annie was a desirable custom
er for the loan shark. She made
her payments promptly as a rule.
Once or twice she was tardy, and
a curt letter from the loan shark
called her attention to the fact.
No threats were made. They
-weren't necessary. Annie laways