OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, December 02, 1916, LAST EDITION, Image 8

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1916-12-02/ed-1/seq-8/

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SOCIETY LEADER IS HIT BY
EXPOSURE OF LOAN SHARKS
Frank; Jay Mackey, one of the
smartest in the smart sets of Chica
go, New York, London, Palm Beach
and Pasadena, who once feted King
Edward and Queen Alexandra, and
who pals with the Astors and the
Vanderbilts in New York and Mrs.
Potter Palmer, Harold McCormick
and the pig-sticking society of Chi
cago, was named in Federal Judge
Landis' court as a money-grabbing,
soul-wrecking Shylock who wrings
blood money from 100,000 victims
among the poor each year.
For Mackey on the sly is a loan
shark. Incidentally, he is one of the
mightiest loan sharks in the country.
The money with which he buys wine
and food for society queens, the dol
lars that he uses to rent boxes at
grand opera and the coin he spends
to show a good time to debutantes
has been wrung .from his half
starved, underpaid victims, who are
unable to spend as much on food in
! one year as lie spends in one night
from his society friends.
Judge Landis toTe the mask from
the double-life of Mackey, the "so
cial lion." He painted him in true
colors. He showed that Mackey,
the "charming host," hid behind the
skirts-of his 80-year-old mother, Mrs.
C. M. French, who lives on a farm, in
Reedburgh, Wis., while Mackey
dines the ermined kings of Europe
and the pig-killing kings of the Lake
Shore drive.
The expose was made during Lan
dis' investigation as to why RoBert
Hutcherson, a railroad employe, w,ho
had borrowed $100 from the Chicago
Mprtgage Loan Co., was asked to pay
$345 in return. When the sharks
with their bloodhound lawyers got
after him he filed a bankruptcy peti
tion. This petition gave Lanflis his
chance.
Fred Huttmann, the loan company
manager, was called to the stand. He
admitted business was so profitable
that the company paid him' $12,000
a year just to act as local manager.
Then he admitted that the people
who were behind his company con
trolled companies in most of the big
cities of the country.
"Who is behind this company?"
asked Landis.
"Mrs. C. AL French of Reedsburgh,
Wis.," answered Huttmann. "All the
notes are made payable to her. She
owns about seventy loan agencies in
all parts of the country."
Further questioning, however, de
veloped the fact -that tie old lady
merely put up. her coin to start the
companies and that her son, the so
cial king, was sthe main "blood
sucker." Mackey broke into first-class,
honest-to-goodness sassiety several
years ago when King Edward and
his court associates were his guests
at a coaching party. After that he
had the entree to top-notch society
in the United States, England and
continental Europe. In London his
home is the famous Beauchamp
hall, which cost him an enormous
rental that is extracted from his vic
tims. Several of Mackey's victims have
been landed by means of advertising
in the Chicago Examiner. In the
Hearst sheet this morning the fol
lowing ad in part appears of the
Mackey agency: VLoans, $25 to $500;
good service; reasonable rates. Other
loan companies paid off and more
money advanced at cheaper rates
and easier terms. Established 1883."
o o
PLEADS FOR EXPORT . TRADE
SALES COMBINE
Washington, Dec. 2. Legislation
to permit exporters to combine to
obtain export trade urgently recom
mended today by federal trade com-.
mission in annual report on foreign
trade situation. Such ' law would
greatly aid small manufacturers, the
board stated.
o o
Every square mile, of sea is esti
mated to contain 120,000,000 fish.

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