No person, firm or corporation shall engage in or carry on the business of a pawnbroker in the City until he has first obtained a license to do so. Every applicant for a license shall make an application in writing to the Chief of Police, which application shall set forth the name under which the business is to be conducted, the name of every person interested in the business and the location where the business is to be carried on. The application must be made by the person or persons who are to carry on the business and must contain references of at least two other citizens of the City as to the character of the applicant or applicants.