UF00083624_00003.pdf

UF00083624_00003.txt

UF00083624_00003_pdf.txt

HAROLD L. BUCK
W

scum n FLORIDA

Pebmary 6, 1953

Mei-M-

c. Farris Bryant
Attorney at Lee
Ocela, Florida

Dear Ir. Bryant:

I am enclosing herewith a Brochure containing a collection
of articles opposing the introduction of Convenience and
Advantage Clmsee' in small loan or consumr loan and finance
luae

It has con to .3 attention that certain interests are making
an effort to h such clauses inserted in the Florida Small
Loan Act and the Florida Consumr msoount lot at the cosine
session of our legislature. Knowing your interest in these
matters, I an taking this opportunity to direct your attention
to the backgron of such clauses.

Over the years in various other states certain large and
powerful chain organizations have both directly and indirectly
sponsored such clauses under the guise that they were in the
public interest. Actually, A Convenience and Advantage Clause
is nothim are or less than a quasi-monopoly for the

larger intrenched operators. Ihereas the independent lender
mo seeks a license has no paid lobbyist or public relations
council to present his case, the larger chain operators main-
tain such adjuncts to their business and are in a position to
secure these licenses in most cases.

i mrther point 01' interest is the fact that the large chain
operator usually maintains a departmnt in each state for the
purchase of existing loan and finmce offices and in this way
they can acquire licenses even thongh new licenses are not
being issued. The independent Operator does not enjoy this
opportunity.

I have noticed Iith interest that certain of the chains hm
been persuading some or the independents that a Convenience
and idvmtage Clause would eliminate some of their conpetition.
This, of course, is not true. What vould actually happen is

HAROLD L. BUCK

I I. I. MID An".
m .. mum

Page2

that the ehhin offices would simply get bigger and
bigger through high pressure advertising methods
and the cospetitive pressure in no my eases the

independent operator.

After you have read the enclosed Brochure, if there
are any questions do not hesitate to advise.

Beat siehee.

ELEM]!
Enc.




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