OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, December 12, 1916, LAST EDITION, Image 2

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

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1916-12-12/ed-1/seq-2/

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than $10,000, -would require an an
nual detailed report to the city comp
troller of all husiness done, give the
comptroller permission to view the
bank's books at any time and limit
the amount each bank might loan.
A heavy penalty and revocation of
its license will be the fate of any who
violate the provisions of the ordi
nance. ,
The terms of the, ordinance were
suggested by Geo. P. Lohman, ass't
city collector.
A public hearing at which all who
wish to support or oppose the ordi
nance may have their say witf be held
at a' future date.
"Passage of this ordinance might
also put a nick in the profits of the
local Hearst papers which accept the
advertisements of the loan banks for
some of the loan banks might go out
of business rather than abide by the
stricter regulations. '
Th'e newspaper ads have been call
ed the velvet paw of the loan shar&s.
In them they promise personal loans
at low interest and with secrecy.
Often, as the investigation now being
made by Federal Judge Landis has
proven, the interest on the loans
were sometimes several times in ex-v
cess of the loan itself. Some of the
sharks have a queer system of ac
counting interest, whereby the bor
rowers pay, pay, pay continually, yet
ade always in debt to the loan bank.
-o o
NEW CHIEF OF POLICE TO BE AN
OUT-OF-TOWN MAN?
Mayor Thompson practically ad
mitted today that Chicago's new
chief of police would be a civilian and
an out-of-town man.
The rumor has persisted about the
City Hall that the mayor did not in
tend to elevate First Deputy Schuet
tler j)T any other man of the police
dep't to the position of chief, but
that he was angling for a big man
who was a civilian and not a Chi
cagoan. When he was asked about this to-,
day he refused to discuss his plans,
but his talk intimated that the dope
on a civilian chief was correct''
In answer to State's Att'y Hoyne'a
offer to appoint a city attorney as a
special state's att'y for the prosecu
tion of Sunday saloon violators, the
mayor said the prosecutions were
now up to the state's attorney. This
means the city administration wants
to pass the buck on the Sunday
cases.
--The mayor said all America would
rejoice in the name of humanity at
Germany's willingness' to end the Eu
ropean war.
Charley Healey may have been
made the "goat" of the Thompson-
Lundin administration but he refused
to sacrifice himself utterly and slink
into private life. He made Thomp
son give-him ,back-3iis old job as cap
tain oktlyejpiounted squad before he
handea in his resignation as police
chief.
There have been many savage
pow-wows between Healey and the
City Hall crowd since Saturday. It
is rumored that Sam Ettelsoh and
Gene Pike wanted Healey-to quit the
police force altogether. But Healey
refused point-blank. Matters wre at
a deadlock after yesterday morning's
conference in the mayor's office.
Healey refused to yield an inch.
From high up comes the word that
Healey presented Thompson, Ettel
son, Pike and Cap Coffin the flatAfitf
nsatum that he must either be given
ms om mountea squaa jod Dack or he
would- fight to the end to hold the.
chief's office. Prospects of a nasty
inside scrap were seen.
After Healey left the office there
was a consultation. By afternoon
Thompson agreed t6 Healey's terms
of surrender. Incjuded In these terms
was the privilege given to Healey to
write his letter of resignation as he
saw fit. In the resignation he backed
out of office gracefully.
Sep'y Billy Luthardt will probably
be the next one to be bounced from
the chief's office. ,

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