326 
SAMUEL 
Report, 1897—continued. 
Samuel, Isaac. (Digest of his Evidence)—continued. 
expenses are charged, but not fees, '70,5-17] 5' Explanation as to the company having 
been registered in 1889 as “ J. S. Fielding & Co.,” and having been subsequently 
abbreviated into “ Fieldings”; there are only eighi or nine shareholders, these consist 
ing, exclusively, of witness and some of his family or relations, 1720-1723. 1738- 
1748. 1843-1849. 
Absence of connection between Fieldings and the Charing Cross Bank; almost 
identical prospectus, however, issued by the two concerns in inviting applications for 
loans, 1724-1733 Denial that in referring in the prospectus of Fieldings to the Lon 
don Joint Stock Bank and similar institutions it is intended to imply that the former 
could afford the same security as the latter for deposits, 1734-1737. 
Insertion of an advertisement of Fieldings in the “ Christian Union,” this having 
been followed by a notice of Fieldings in the latter, which notice was quoted in the 
company’s prospectus, 1749-1759. 1863 Explanation of the inducement held out to 
borrowers on the score of the rate of interest to be charged, as compared with the 
actual practice in this respect; frequent charge of a lump sun: for interest irrespective of 
rate, 1760 et set/.; 1826-1836. 
Information in detail icspecting the Oxford case and the transactions of Fieldings 
with the lady resident thete in 1893, witness denying the accuracy of certain evidence 
of Mr. Farrow as regards the charge for interest, &c., 1766 et set/.; 1972-1980 Ex 
planation that, in the foregoing case the local commission agent, Mr. Beechey, made 
certain charges without the previous cognisance of Fieldings; commission paid to 
Beechey for introducing the business, 1777-1792. 1977-1979 The company had no 
office at Oxford when this loan was worked from Reading, 1779. 
Discontinuance of the taking of fees by the company, whilst they have never charged 
fines, 1786-1792 Security taken in the Oxford case in the form of some plate; a 
pawnbroker’s licence is not necessary for this purpose, 1793-1798. 1972-1974. 
Examination upon the repayments in the Oxford case and the charges for interest, 
witness contending that upon the whole transaction the interest works out at about 
59 per cent., or 4,941 per cent, less than was stated by Mr. Farrow, 1799-1825. 1896- 
1900 Total of about 179 percent, represented by the 15/. deducted for three months’ 
interest out of the loan for 50/.; 1799-1801. 2016,2017. 
Average of about 60 per cent, charged by Fieldings for interest in the years 1890-96 > 
belief that as much as 1,500 per cent, has never been charged in a single case, 1825- 
1836. 1892-1895 Supply of a pass-book to each borrower whenever repayments are 
to be made at different dates, 1837-1839—-—Reason for discontinuing the taking of 
hire agreements, 1840-1842. 
Varying classes of persons with whom Fieldings have transactions, 1850-1856. 
1980-1993 Statement on the subject of Fieldings claiming advantage over certain 
banks where the shareholders may be made liable for calls, 1857-1862. 1864. 
Practice of Fieldings not to take warrants of attorney as security, 1865-1867 
Limited extent to which bills of sale are taken by the company ; statement hereon as to 
the form adopted, 1868-1 871. 1876-1881. 2001 Promissory notes usually taken as 
security; form adopted, 1-872-1875 Non-objection to bills of sale being abolished 
altogether, 1876. 2001 Rare instances of life insurance policies being taken as 
security; witness has no personal interest in this direction, 1882-1889 Single in 
stance of a garnishee order having been taken out, 1890, 1891. 
Explanation that the gross interest or profit in 1890-96 was about 33 per cent., the 
net profit being about 11 per cent., 1894, 1895. 1900-1903 Receipt of 3,385/. in 
fees or travelling expenses (in seven years), whilst the travelling expenses amounted to 
6,194/.; 1904-1906. 
Small proportion of the whole number ol transactions in which the borrowers have been 
sued ; very small number of cases in which the homes have been broken up by sale, 
1914-1927 Exceedinglv few instances of debtors sent to prison, 1928-1930 
Unfair prejudice of magistrates against money lenders, 1930-1936——Objection to 
judges having power to decide whether the rate of interest charged is reasonable; in 
view of the risks and losses, and the expenses, witness submits that the rates are not 
unreasonable, nor the net profits excessive, 1937-1947. 2003-2007. 
Information as to payments by Fieldings to commission agents for introducing 
business, 1948 1968 Practice of Fieldings never to lend on plate or jewellery in 
sums less than to/.; 1969-1971. 2010-2012 Trading of the company in the name 
only of “Fieldings, Limited”; purposes for which some money lenders trade under 
several different names, 1994-2000 Flxceptionally large proportion of losses under 
bills of sale, 2001 Grounds for objecting to the promissory note stating the rate of 
interest charged, 2002-2008 Practice since 1893 never to deal with hire agreements, 
>2009 -Issue of balance-sheets to the shareholders, but without printing or publishing 
them, 2019-2022. 
[Second