Money Lending In the 1950s /60s.
Posted: Fri 13 May, 2016 1:45 pm
Fortunately as I grew up in Leeds I never needed to go to a money lender but I do remember in the 1950s when working people got their wages paid to them in cash every Friday there was a fair amount of \money lending done illegally . From what I knew they charged 2/6 in the £1 and it had to be paid on the dot each week. One place where the Lender and his burly "Accountant used to stand was outside John Kings engineering in Garnet Road next to John Colliers tailoring factory. Also in Beeston was a Lender who sat outside Rowland Road School on a Sunday Morning but I think he was loaning money again to punters who had done their money in Saturday either drinking, gambling or maybe both.
In the 1960s I got to know a lad who was a salesman at "March The Tailor" who sold men's suits from their shop on Vicar Lane directly opposite the County (Mecca ) Arcade. He told me that they did big business lending money on short term loans. Never did find out if that was legal or otherwise but before long he started up on his own in that business.
The only other cash credit I knew about at that time was at the Book makers Jim Windsors also on Vicar Lane, Jim let punters have credit but after a few reminders to those slow repayers he would send his two collectors round, one was Jim Ryan and the other was Jim Moran both built like giants who worked as doormen at Jim's Commercial club and seemed to take a delight in throwing inebriated or rowdy customers down the stairs.
One thing was for sure in those days when it was time for you to repay your debt you did so.
In the 1960s I got to know a lad who was a salesman at "March The Tailor" who sold men's suits from their shop on Vicar Lane directly opposite the County (Mecca ) Arcade. He told me that they did big business lending money on short term loans. Never did find out if that was legal or otherwise but before long he started up on his own in that business.
The only other cash credit I knew about at that time was at the Book makers Jim Windsors also on Vicar Lane, Jim let punters have credit but after a few reminders to those slow repayers he would send his two collectors round, one was Jim Ryan and the other was Jim Moran both built like giants who worked as doormen at Jim's Commercial club and seemed to take a delight in throwing inebriated or rowdy customers down the stairs.
One thing was for sure in those days when it was time for you to repay your debt you did so.