• Disposal of unredeemed pawned articles

• Cartoons welcome

• Beggar women at the mosques

• Fines imposed by SL Telecom on subscribers
  
  
  
  Disposal of unredeemed pawned articles

Pawn broking, earlier confined to the private individuals or concerns has now become an important activity of the banking sector especially the State and the indigenous private banks. It has brought in many welcome changes.

The advances are high, interest is non-usurious and the articles redeemable and secure to name a few obvious improvements. As long as the pawnee pays his dues and redeem them as agreed, it is smooth sailing. At the time of pawning Banks go by the gold contents alone, basing on the valuation by Central Bank.

All pawnees do not and may not be able to redeem their items. When the advance becomes overdue banks arrange to dispose of the articles by auction, after giving sufficient notice to the pawnees in addition to the publicity in the media and the billboards.

At the time of the auction what was latent at the time of pawning surfaces as important and enhances the value of the articles. In the first instance Central Bank valuation is replaced by the market price which is always higher than the former and there is always sufficient margin to realize a higher bid. Not only the accepted carat content but also the embedded stones and the workmanship become relevant.

At the time of the auction banks normally fix an upset price. This would invariably consist of the amount advanced, interest accrued, up to date of auction, and another additive as the shared portion of the expenses incurred directly connected to the auction such as the advertisement, staff cost and postage incurred.

At the auction every endeavour is made to avoid losses to the bank. It is a prudent business proposition.

What is lacking is the desire to obtain the maximum price which is definitely much more than that required to cover banks' dues.

It has to be borne in mind that a genuine pawnee fails to redeem because of the financial straits or constraints. Pawning is resorted to, to retain the jewellery in due course and in the meantime use it as a pledge to obtain the necessary working capital as a small time trader or farmer, or even a public servant.

Pawning at the time of sowing and redeeming at the time of the harvest is a common occurrence in our country. Banks are aware of the seasonal turnover. It may have become unredeemable due to the nonreceipt of the anticipated income.

Disposal of the articles at the auction to the concerted pressured bidding by the organised dealers may only help to wipe off the dealings in books of the banks. It further pauperizes the pawnee.

What was expected is the obtaining of the maximum possible price at the auction and refund the excess to the hapless pawnee who would be compensated at least up to the market value less what is due to the bank by way of the loaning transaction resorted to as a desperate move or as a temporary move.

It is true to say that it is within the realms of possibility to obtain the highest price instead of playing into the hands of concerted underbidding by organised gangs, knowingly or unknowingly aided and abetted from within or being taken for a ride by the bidding groups.

Safest course is not to part with the articles that fail to fetch closer to the market price and resort to the alternative of disposal as 'Gold' in the market.

If there is no cooperation from within the participants at the auction will bid and raise the going price instead of depressing same. To refund the excess to the hapless pawnee is another duty of the Bank, if it has to honourably replace the usurious pawnbrokers, the local shylocks.

R. SUNTHARALINGAM - Urumpirai-West

Cartoons welcome

In my childhood, cartoons, especially, strip cartoons, that were published in the then Ceylon Daily News and its sister paper the Sunday Observer fascinated me no end. Sometimes full cartoons pages appeared in colour, further enhancing my childhood enjoyment.

One of my favourites was Tarzan. I used to collect those strips and paste them in used exercise books for further subsequent reading (or mulling?) Although at that time I did not quite understand the English dialogues in them, my imagination rioted and immensely entertained me as a child.

Later, after passing my first public exam, the senior school certificate in 1949, I became more selective of newspaper cartoons and Tarzan faded away. Still 'Ripley's Believe It or Not', 'Mandrake the Magician' 'Bringing up Father,' by Geo Mac Manus, 'Dagwood Bumstead,' 'Donald Duck,' 'Gambols', 'Mr. Abernathy,' 'Rip Kirby,' 'Pop-eye with his inevitable can of spinach the life giver, that appeared in the CDN and SO, gave me immense reading pleasure while imperceptibly widening my outlook.

Passing into the only university in Sri Lanka, at the time having completed the higher school certificate and university entrance exam, my interest in world class cartoons, brought to as by CDN and SO, continued unabated. As most of the cartoons come to us through the SO (Sunday Observer) these cartoons became a pleasurable pastime, enjoyed in weekend armchair comfort.

As my first job after graduation was as a junior journalist in the 'Dinamina' Editorial Department, reading my favourite cartoons in CDN and SO, became a ready facility. Still later, when I entered other fields, I became a regular buyer of these newspapers and my favourite cartoons were with me.

In the course of this long association (more than 50 years) there had been periods in which these cartoons were not published, perhaps due to non-functioning of world syndicate agreements.

It is therefore very nice to see Daily News bring some of those world renowned cartoons for the pleasure of its readership. I am convinced that such service definitely goes to widen the outlook and perspectives of the readers besides affording them with much needed humour and enjoyment.

As for me it will somehow contribute to compensate me for the nostalgic memories of Dagwood, Blondie, Tootsie, and Jiggs, Maggie, their dog fifi, and their constantly borrowing neighbour, Titus Canby (pronounced Can Buy, but he never does). The Gambols and their Dawg, and a host of other endearing characters who were our weekend friends of yesteryear.

SOMARaThNE EDIRISINGHE

Beggar women at the mosques

Further to my letter published in the Sunday Observer heard some more interesting facts on the above subject. Apparently quite a few of these women are not even Muslims.

They are seen regularly on other days in non-Muslims costumes begging from house to house and when asked why they would not like to work they have said that any of them easily earn 500-1000 rupees a Friday at the mosques and that they're not in need of working.

It's also understood that these women monopolize their positions on the road outside the mosques. Newcomers are not tolerated or are even threatened.

Some poor Muslim women have complained that they have been chased away and had to stand on the main-road to receive any charity.

Not that Islam forbids charity to non-Muslims but this sort of thuggery, cheating and laziness are certainly not condoned by Islam.

The best solution would be to forbid anyone Muslim or otherwise from begging outside the mosque but to set up a scheme where anyone who wants to donate for charity to give it to the mosque trustees who in turn should take the responsibility to investigate into the actual economic situation of these so-called beggars and distribute the collected money appropriately or even better use it to give these women some vocational training so that they will become self sufficient.

It's time Muslims recognized their responsibility in minimizing begging which is a shame to the community and also in minimizing intermingling of the sexes for whatever reason it maybe and that too just outside the mosque.

Some people must come forward to take the initiative to do something to change the present abhorrent practice.

DR. MAREENA THAHA REFFAI - Dehiwala

Fines imposed by SL Telecom on subscribers

I have paid my telephone bills promptly from the time we had a telephone installed and never queried even when bills were dubious.

Recently I had paid a bill by cheque. Unfortunately, the cheque had not been signed. The person who accepted the cheque at the Liberty Plaza Teleshop should have returned it to the person who presented it.

The person who forwarded the cheque to the bank for clearance didn't bother either, to return it to me. Neither of them appear to have been penalised for their carelessness.

On the other hand we have no means of demanding any payment for the lapses, unless we are ready to go to courts and expend some more money. You will see how one-sided are the agreements we sign to get a phone.

M. M. N. DE SILVA - Dehiwela