I think here it means the pawnshop. A pawnshop is a shop where you can get money for expensive items. They money is a sort of loan. If you bring back the money before a certain time period, you can get the item, the watch, back. If not, if you are too late, the shop owner keeps the watch. Literally it means mountain of pity. By the way, you would better ask these questions in the Spanish section. I just know English and Spanish by coincidence, and tumbled over your question. But most won;t here.