1 50 1 https://omeka-test.library.appstate.edu/files/original/57d3bcbfeb8d996eb9d993db71f8e519.pdf 77547c4f99a5d784544bdabf41265364 PDF Text Text ge Of Easy Credit Maki11g It Rough By ED SPEARS Citizen Staff Writer nshops, once a widelysource of money for sQll with a pressing , are having to adapt nging times to survive. in the bigger cities Iling by the wayside. lladelphia, where 75 to ~wnshops nourished in f30s, nly 21 are in ion today. in Asheville, where pawnshops on c e ed, two remain active: Inc. at 7 Pack Square, and Reliable Loan Office, 8% Biltmore Are. Neither u t i 1 i z e s the traditional three hanging balls symbol as an o u t s i d e identification. "Too rn u c h danger that they would fall and hit somebody in the head," explained Leo Finklestein, who operates what is believed to be North Carolina's oldest pawn shop, founded by his father in 1903. "The day of the old-time hockshop is over," said Finklestein, looking back ta the time when his storage area contained false teeth, surgical appliances, as many as 800 suits of clothing and 2nd Generation Flinkelstein, left, carries on the business by his father in downtown .sheyme. e 500 overcoats (hocked with the arrival of warm weather), and oddities such as an electrical checker board. Once, around 1912, a circus carne to town and went broke Finklestein said. His father took trunks full of abbreviated costumes, a stuffed tiger and lion. "They finally got the money up and sent for them," he said. "In those days we'd take any kind of portable security." In the era before credit cards and the proliferation of banks and other lencting agencies, pawnshops w e r e utilized by persons from <!11 walks of life in need of a loan from 10 cents to $500. "People with any credit rating at all can get a loan today," Finklestein said .. " But even with that, our 'business has increased every year. Much of this increase is in the sale of new merchandise. Fink 1 est e in's specializes in sporting goods, jewelry, musical instruments and luggage. But a tour of his storage areas rn a k e s it quickly evident that plenty o f Ashevilleans come by f o r loans on items from today's so-called affluent society. Row after row of pledges are stored: portable television sets, typewriters, sewing machines, radios, cameras, jewelry, binoculars, p o w e r tools, fishing outfits, golf clubs, some luggage, pistols, shotguns and rifles, sets of silverware and m ovi e projectors. A number o f guitars are held under loan - but no band instruments' (when the child got tired of playing it, the parent wouldn't redeem it) . . . " and nn nra l.otbil'!'l ..... ta _r...,. go to the bank for $5 or $10. Our loans average about $10," Finklestein said. Pawnbrokers work closely with the police and are little used in the disposal of stolen articles, Finklestein s a i d . Less than one-tenth of one per cent of his' company's transactions have involved stolen goods. Householders are advised to keep records of serial numbers of appliances, etc., that might be stolen to assist in their recovery. Pawnbrokers date back to China 2,000 to 3,000 years ago. Their legal foundations were set up by the ancient Romans and Greeks. In medieval ages, laws prohibited the charging of interest on money loaned, but pawnbroking was · exempt and carried on by the Jews and Lornbards. The three-ball symbol denoted a Lombard merchant. Pawnbroking became a recognized business in the United States in the 18th Century, and in World War I was a main source of consumer credit. Brokers are required to hold pledges at least three months before offering them for sale to others. Where a!'rangernents are made, many pledges are held for longer periods. About 80 per cent are redeemed. · In the latter part of the 19th Century, Harry L. Finklestein was one of five brothers . who left Russia-he to South Africa; the other four to the United States. Neal, the oldest brother, opened a pawnshop i n Jacksonville, F1la. The others worked for him until they learned the business, then founded shops in Columbia and Florence, S. C., Wilrn- nPawnshop s Asheville's Fi.rst Pawnshop Harry L. Finklestein opened the first paw nshop in Ashevme and what is beHeved to be the first in North CaroHna in 190,3. Located at 23 Biltmore Ave., the late Mr. Finklestein is pictured at the right in the entrance to his store. to leave South Africa, and of it," he recalled. He has by a flip of a coin decided managed the business since to emigrate to Arne ric a his father died in 1929, also rather than Australia. taking an active part in the While working for Neal, civic affairs of the comHarry was advised by doctors munity. to live in the mountains, so Although the pawnshop tohe opened the pawnshop in day is much different than Asheville in 1903. Leo, his on- i~ . pa.st .. gener~tions, __!inkle_ ..._ _ _ _ _ _ nn .. ly son, began working in the BOB TERRELL . < <. ~~ ---------~----~ � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Leo Finkelstein Papers Description An account of the resource This collection contains materials relating to Leo Finkelstein, resident of Asheville, North Carolina, the Asheville Lions Club, and the Beth Ha-Tephila Cemetery in Asheville. It contains computer discs, notes, scrapbooks, book drafts, correspondence, photographs, programs, fliers, and other materials related Leo Finkelstein, his wife Sylvia, and the Lions Club, Elks Club, and Jewish Community in Asheville, North Carolina. Contributor An entity responsible for making contributions to the resource Finkelstein, Leo, 1905-1998 Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Language A language of the resource English Identifier An unambiguous reference to the resource within a given context 107_cd2_11_pawnsh Subject The topic of the resource Pawnbroking--North Carolina--Asheville--History Description An account of the resource A newspaper clipping explaining the struggles of Asheville's first pawnshop after getting loans became significantly easier. Rights Information about rights held in and over the resource <a title=" In Copyright - Rights-holder(s) Unlocatable or Unidentifiable" href="http://rightsstatements.org/vocab/InC-RUU/1.0//" target="_blank"> In Copyright - Rights-holder(s) Unlocatable or Unidentifiable </a> Format The file format, physical medium, or dimensions of the resource PDF Title A name given to the resource Age of Easy Credit Making it Hard on Pawnshops, Asheville Citizen-Times Source A related resource from which the described resource is derived <a title="AC.107 Leo Finkelstein Papers" href="https://appstate-speccoll.lyrasistechnology.org/repositories/2/resources/192" target="_blank"> AC.107 Leo Finkelstein Papers </a> Is Part Of A related resource in which the described resource is physically or logically included. <a title=" Leo Finkelstein Papers" href="https://omeka.library.appstate.edu/collections/show/27" target="_blank"> Leo Finkelstein Papers </a> Type The nature or genre of the resource Text Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant Asheville (N.C.) Spatial Coverage Spatial characteristics of the resource. https://www.geonames.org/4453066/asheville.html Asheville credit Finkelstein loans pawnbroking pawnshop