In re People's Investment Co.

Citations

• 56 Pa. Super. 90
• 1914 Pa. Super. LEXIS 49

Syllabus

<p>Money lenders — License—Refusal of licenses — Discretion of court— Appeals.</p> <p>1. On an appeal from an order of the quarter sessions refusing a license for the business of lending money, as provided by the Act of June 5, 1913, P. L. 429, the appellate court cannot examine the evidence, but as the court below is required by the act to file an opinion on refusing a license, the appellate court may examine the opinion for the purpose of ascertaining the reasons or grounds of the decision, and it may reverse the order, if the reasons for refusing the license are not legal ones.</p> <p>2. The power of the quarter sessions to grant or refuse a license for the business of lending money is a discretionary power, to be exercised primarily for the public good, and secondarily for the private interest.</p> <p>3. An order of the quarter sessions refusing to a corporation a license for the business of lending money will be sustained, where it appears from the opinion of the court below that the corporation had illegally engaged in the business of lending money without a license after the passage of the Act of June 5,1913, P. L. 429, that one of the directors had conducted the business of lending money at the same place as the corporation proposed to conduct it, had charged enormous rates of interest, and had announced a purpose to collect the enormous charges that were outstanding.</p>