January 4, 1910
For the use of $16.50 for eleven months, $15 interest, or 10 per cent a month, is alleged to have been charged by O. H. Stevens, a pawnbroker at 125 East Twelfth street, of H. S. Elder. A warrant was issued yesterday for the pawnbroker's arrest on a complaint charging him with violating the state usury law.
The complainant says that November 20, 1908, he pawned a gold watch chain and locket for $16.50. When he went to redeem the jewelry last month, he said, 10 per cent per month interest was demanded.
"This office has not started a crusade, so to speak, against usurious pawnbrokers," said Ruby Garrett, the assistant prosecutor who has these cases in charge, "but anyone who has been held up for exorbitant rates of interest we would consider it a favor if they would report the same."