Cain v. Peoples Salary Loan Co.

12 Ohio N.P. (n.s.) 441, 22 Ohio Dec. 377, 1912 Ohio Misc. LEXIS 20

This text of 12 Ohio N.P. (n.s.) 441 (Cain v. Peoples Salary Loan Co.) is published on Counsel Stack Legal Research, covering Court of Common Pleas of Ohio, Franklin County, Civil Division primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cain v. Peoples Salary Loan Co., 12 Ohio N.P. (n.s.) 441, 22 Ohio Dec. 377, 1912 Ohio Misc. LEXIS 20 (Ohio Super. Ct. 1912).

Opinion

Rathmell, J.

The first case is an action brought by a stockholder of the Peoples Salary Loan Company, a corporation formed for the purpose of purchasing and loaning money on salaries and wage earnings, and seeks to enjoin said company from complying . with the requirements of an act of the General Assembly to regulate and license such a business (102 O. L., p. 469), on the ground [442]*442that said act is unconstitutional and void, and that compliance with said act in the way of paying a license fee is a misapplication and unlawful dissipation of the assets of the company.

The second is an error proceeding seeking to reverse judgment rendered against plaintiff in error by the police court of the city of Columbus, on the charge of his engaging in the business of making loans upon chattels and personal property; and purchasing and making loans upon salaries and wage earnings; and that on or about the 7th day of August, 1911, plaintiff in error made a loan to one Sleade, secured by a chattel mortgage on chattel property and by an assignment of his wage earnings as an employe of the Ferris Steam Motor Works; neither said conveyance nor said assignment being signed by Sleade’s wife — he being a married man; .and that Sharp had not obtained a license to engage in such a business, contrary to the statute in such case made and provided.

Both of said actions involve the constitutionality of the act of the General Assembly referred to, passed May 31st, 1911, and found in 102 O. L., 469.

Section 1 of the act provides:

“No person, firm or corporation except banks and building and loan associations shall engage or continue in the business of making loans upon chattels or personal property of any kind whatsoever, or of purchasing or making loans upon salaries or wage earnings, without first having obtained a license so to do from the Secretary of State.”

It is claimed that the exception of banks and building and loan associations creates an unreasonable discrimination between persons, firms or corporations engaged in the same business, and thereby violates the constitutional guaranty for equal protection of the law, found in Section 1, Article XIV of the Federal Constitution; and in Section 1, Article I of the Bill of Rights, and is not of uniform operation as required by Section 26, Article II of the Constitution of the state.

That the business of loaning money upon chattels or personal property, and of purchasing or making loans upon salaries or [443]*443wage earnings; is one which the state, in the exercise of her police powers, has the right to reasonably regulate, while not fully conceded, is not seriously challenged.

In view of the fact that the courts in other jurisdictions have pretty generally sustained legislation, under the police power, on similar subject-matter; and that our own court in the case of Sanning v. City of Cincinnati, 81 O. S., 142, has approved legislation on the subject, we consider that the right of reasonable regulation of such a business by the Legislature is hardly a matter to be questioned.

The state in the exercise of the police power within reasonable limits may distinguish, select and classify subjects of legislation, if the classification be not unreasonable, unjust or arbitrary ; and a statute bearing alike on all individuals of each class with uniformity does not deny the equal protection of the law.

Field, Justice, in Bartier v. Connolly, 113 U. S., 27, speaking of the Fourteenth Amendment, says:

“Class legislation discriminating against some and favoring others is prohibited; but legislation which in carrying out a public purpose, is limited in its application, if within the sphere of its operation it affects all persons similarly situated, is not within the amendment.”

That proper classification and legislation under the limitations stated is not an invasion of the constitutional guaranty of the right of equal protection of the laws is supported by many eases, a few of which are: Minneapolis Ry. Co. v. Beckwith, 129 U. S., 27; Field v. Barber Asphalt Co., 194 U. S., 621; Gentsch v. State, ex rel, 71 O. S., 151.

Is the exception of banks and building and loan associations in the act an unreasonable or arbitrary classification?

Whether a particular classification upon which discriminating legislation is based is a reasonable or arbitrary one must depend to a very large extent upon the nature and purpose of the legislation.

It was held in State v. Wichenhoefer (Del.), 64 Atl., 273, that an act providing for licensing persons to charge more than legal [444]*444interest on loans not exceeding $100 was not unconstitutional because it exempted from its provisions national banks, state banks and trust companies.

In that case the court remarked:

“The character and standing of the excepted parties, the nature and conduct of their business, and existing laws which were peculiarly applicable to them, furnished a fair and sufficient reason for the classification.”

In State v. Hurlburt, 32 Conn., 232, an act prohibited everybody except a national bank, a trust company chartered by the state, and a pawn broker from charging interest on loans at a greater rate than fifteen per cent.; held: that the statute was not in violation of the state and federal Constitution guaranteeing the equal protection of the laws. That the General Assembly in regulating usury had the right to discriminate between different classes of money lenders and borrowers, provided there was nothing apparently unreasonable'in creating-the'distinction and all members of each class were treated in the same manner.

In Re Home Discount Co., 147 Fed. Rep., 538, an act of the state of Alabama providing among other things that all persons engaged in the business of money broker or loaning money or taking security therefor by bills of sale, mortgages on, or conveyances of liens of any kind on personal property or personal effects or other personal security, should express in the instrument securing such loan the rate of interest, the date of the loan, the fact that the instrument is taken for a loan of money, a minute description of said property and if household goods from whom purchased, the date when the loan is due and should file the instrument for record. Also one section providing that the act should not apply “to the business of banking and loans when the amount exceeds $75.” Held: the Legislature had not unjustly discriminated between the class whose conduct the act regulated, and those whose conduct it left unregulated.

The court in the opinion says:

“Loans by. banks and bankers under $75 and loans over that amount no matter by whom made were rarely secured by an as[445]*445signment of future wages or a lien upon household goods, and were not productive of the evil which the statute seeks to cure. The Legislature knew that the taking of the security named by one class of lenders had almost invariably brought forth evil, while the same loans on the same security by another class in ‘the business of banking’ had seldom, if ever, been harmful to the public welfare.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Minneapolis & St. Louis Railway Co. v. Beckwith
129 U.S. 26 (Supreme Court, 1889)
Field v. Barber Asphalt Paving Co.
194 U.S. 618 (Supreme Court, 1904)
Mutual Loan Co. v. Martell
86 N.E. 916 (Massachusetts Supreme Judicial Court, 1909)
Dewey v. Richardson
92 N.E. 708 (Massachusetts Supreme Judicial Court, 1910)
State v. Wickenhoefer
64 A. 273 (New York Court of General Session of the Peace, 1906)
International Text-Book Co. v. Weissinger
65 L.R.A. 599 (Indiana Supreme Court, 1902)

Cite This Page — Counsel Stack

Bluebook (online)
12 Ohio N.P. (n.s.) 441, 22 Ohio Dec. 377, 1912 Ohio Misc. LEXIS 20, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cain-v-peoples-salary-loan-co-ohctcomplfrankl-1912.