Press enter after choosing selection

Mr. Winslow's Loan Business

Mr. Winslow's Loan Business image
Parent Issue
Day
1
Month
January
Year
1895
Copyright
Public Domain
OCR Text

When W Rodman Winslow was killed by falling f rom the seventh story windowof theSevilüa apartment house some days ago. a never failing ourceof revenue to those hard pressed for ready money was taken away For years Mr Winslow hid an office oc the iinrdfloor of the VanaerDUt building, at 182 Nas sau street. and tnere he transacted an "interest acd discount'' busmese 9n a Iarg6 soa e The s:gn on the offije door set forth that Mr Winslow was & cour.ie!or at law He was tt is true. educated for the law, but he had given lítele aneanon to its practice for mai:y years II ■was in the loamng of rr.oney upon ohattel mort.gages that he made a reputation for himself and acquired the fortune ■whioh ho had when he died His method of doing business was similar to that of chattel ioan agents the city over In addition to the legai rate of interest Winsiow charged 80 or 40 per cent additiona! for fae accommodation To socure the ioau he took a chattel mo7 gage upcui almost anything oí great' r valae th;m the amount loaned wli i the borro wer possessed. Tho form i f this ïuortgagd he drew himself, and it was his txjas( that it had never been broken iu n court of law. Mr. Wiijslow was a college man, and, acoordiug to the story of an old friend of his, it waa while still a student at Harvard tnat he begau the business which ho alterward mude his vocation. A fellow student was hard up one day, and he a:-ked young Winslow to lond him Pome money. Tho latter had sonae ready money which he signified his williugness to loan provided the borrower, who was a fine classical student, would wriío a Latin thesis for him. It was a good hard two weeks' work, but the student had to have the money, so he agreed to the sfripulation. After that young Winslow frequently loaned money to others, exacting premiums of various kinds for the aecoinmodation. On leaving college the young gradúate made up his mind that there were great possibilitios for pecuniary gaiu in doing a money business on a larger scale, and thus it happened that he made it his profession. It was said that he did the largest business of the kind iu tbo

Article

Subjects
Ann Arbor Argus
Old News