Ray was not a pawn broker. Why then did he lend money to people in exchange for their old watches and clocks? It is true that Ray was not a pawn broker but he was full of humanity. He could not say ‘no’ to anyone in need who placed their old watches before him. Related posts: Mention Any Three Points of Distinction Between Formal Sector Loans and Informal Sector Loans. Explain Any Four Terms of Credit With Examples. What thought crossed Hari Singh’s mind when he was waiting on the railway platform? What made Ray think the visitor was not really a shopper?