MONEYLENDER’S £5O NOTE

Gisborne Times, Volume XXXVII, Issue 3526, 30 December 1913, Page 6

MONEYLENDER’S £SO NOTE

PECULIAR TEST CASE

LONDON, 0:t. 31. The Rev. Herbert Williams, Rector of Horsleydown, Bermondsey, has for some time made a study of the ways of moneylenders. It has been his habit to write as such as advertised, asking for particulars of amounts to be loaned and rates of repayment. In due course be wrote to J. Marsh, Lid., a firm of moneylenders at Leicester, and obtained their charges for interest. A few weeks later Mr. Williams .was surprised to receive a .letter from J. Marsh, Ltd., enclosing £SO in Bank of England notes. No invitation having been; made for a loan, Mr. Williams replied to the firm stating that he should keep the money and they could sue him if they .liked. It appears that moneylenders are in the habit of tempting prospective clients bv sending uninvited sums in not 2o. When J. Marsh, Ltd., saw there was no business to be done they demanded the return of the notes, which, however, had been handed over to the “Daily Mail.” The paper now issues the foTowing chalenge :—“'ln the public interest, and to settle the law on the subject, which is doubtful, the Daily Mail will alllow J. Marsh, Ltd., to take any legal steps that ars open to them. We shall defend any action they decide to bring, and retain the notes until—if ever—the Courts order otherwise. If we succeed the case should stop the practice.” The following letters have passed between the parties:— “Dear Sir, —We are writ-in— in reference to the £SO Bank, of England notes of ours which you shall retain. Those notes are indisputably our property, and must be returned to us. To save you the trouble, one. of our directors, Mr Ivor Margolies, will call on you at 1 o’clock on the afternoon of Tuesday next, 4th November, 1913, at your address, No. 10, Fair-street, Tooley-street, London, S.E., to take away the notes; or, if you prefer it, Mr Ivor Margolies will call for the notes at the bank, or any other reasonable place fixed by you. Unless you appoint some other ’ place, Mr Ivor Margolies will call for the notes at No. 10, Fair-street, Tooley-street, London, S.E., on the day and at the time mentioned.—Yours faithfully J. Marsh, Ltd.”

Mr Williams ‘has replied ao follows: —“Yours of yesterday to hand. lam glad you propose calling here on Tuesday the 4th November, for I want to discuss with vou your business methods in dealing with clergymen, which I strongly disapprove of ' and am endeavoring to persuade you to amend. I cannot, however, hold out much hope of you taking the money away with you. As a matter of fact it is no longer in my possession.”