Seven Hundred Pep Cent.

Manawatu Herald, Volume III, 17 December 1891, Page 2

Seven Hundred Pep Cent.

The : following may be of interest to those who might be tempted to deal with money lenders. . At the Guildhall Police Court on 9th October, Andrew Shillingham, of Sandemere-road, Clapham, was charged upon a summons with obtaining money from Archibald Josolyne, trading as Walter Wood, money , lender, of 31, Furnival-street, by false pretences. Mr Jarvis prosecuted; and Mr Hume Williams defended. — Prosecutor stated that he had had several transactions with the defendant in March last. On the 16th. of July the defendant went to him again and asked for an advance of £5. Witness at first declined, as there was a balance of £14 owing from a former transaction. The defendant, however,, offered to pay £1 2s interest on £5 for a month, and further stated that bis tent was paid up to date. Upon this the witness advanced him £5, and received a promissory note for £6 2s v payable in a month. >At a subsequent date the defendant obtained a farther advance of £3 10s., and consented tq~ pay 10s. interest upon it. The bills* however, when they became due \^ere not met, and the witness, took, proceedings in the Mayor's .Court. " He recovered judgment, but u,non putting in execution was met by a bill of sale and also the landlord's claim for half a year's rent. — Crossexamined : The first loan was for £5, and the defendant gave a promissory note payable in a month for £6 2s. This was at the rate of 260 per cent, interest? Yes, I suppose so, but I have not calculated it.— The second loan was for £8 IPs., granted on the 11th of August, and he was to pay you £4 on the 15th of August? Yes, he agreed to. —Mr ; Williams : Interest at the rats of 700 per cent.? I did not calculate it. — For the defendant it was urged. that at the time the defendant stated that his rent was paid he thoroughly believed that it . >was, for he had given it to his wife, and she nad neglected to pay it. — Mr Alderman Phillips thought it was a'case in which no jury would convict, and dismissed the summons.