The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-24
WRECKING A FAMOUS BANK.
ciPraIv EIDS. THE GREAT ENGINEER,
PRESENTED FOR INDICTMENT.

,.,.d without Capital and Ruined with
.,, Con scIence-Giasaow Methods Antici-
.a,.d in ~. Louis by an Eminent civil
rns,ueer and hIs Enterprising Partners.
sr LOUIS, Dec. 2O.-The man who built the
.,,s, bridge across the Mississippi at St Louis.
"a Who is now constructing the ietties at the
,oou,h Of the same river. was last week pre-
.oo,ed 10 the Grand Jury for indictment on
.ssroe OF wholesale robbery. Capt. james b.
rsls the engineer. Ia one OF the best-known
mel, Of the West. His restless mind busies IT,
,slf with the projection and promotion OF enter
nrlses involving millions OF dollars. With the
oriental Imagination OF a Mulberry Sellers.
rap, Fads has some OF the qualities OF practi-
"a and successful management. His enthusi-
em Is contagious. At no stnge OF his remark
die career has he lacked the assistance OF sober
,ni conservative capitalists. many. II not most.
A whom have had reason to regret his winning
ravs The men who have voluntarily associ-
,.sl themselves with him and suffered by the
disastrous termination OF his magnificent en-
prprises cannot complain. but those whose
hr;unes have been dragged down by his opera
lions through no fault or participation OF their
own have some cause TO speak bitterly OF Capt
James D. Eads.
Oithe latter class are the stockholders cred
tors. and depositors OF the National Bank OF
he State Of Missouri. which failed badly little
more than year ago and is now in the hands
Of receiver. Ex-Mayor Britton OF St. Louis
had been for twelve years the President OF this
famous bank. and Eads rs one OF the Directors
had been the leading spirit in its management.
The character OF that management may be told
In single sentence. Twelve years ago. when
Eais. working with a capital of brains only
raiied and captured the Bank OF the State Of
Missouri its stock was worth $50 for invest
nen,; to-day. after dozen years OF Eads's bold
tuancerng the stock is worth from 35 to so
per cent worse than nothing-that is to say. the
stockholders would be glad to give up their stock.
and from thirty-nve to fifty cents on the dollar
10 addition to be rid OF the liability put upon
ITEM by the failure.
The wreck Of the Bank OF Missouri. like that
ciihe Glasgow Bank. is directly due to the per
version OF its funds and credit by the Directors
pthsir individual uses. Without exception the
surviving Directors profess to be unable to pay
their debts. And among the so-called assets Of
the broken bank are the individual notes Of its
Directors and Of members OF their families to
the amount Of one million. eight hundred and
sixty thousand dollars
II is for this that the names OF Capt Eads and
bis associates have been presented to the Grand
Jury for indictment. The prominence Of the
srused parties their social relations in St
Louis. and the complex nature Of the interests
involved. have tended TO shield them from un-
pleasant publicity. The newspapers OF this
town have avoided the subject Outside the
Grand Jury room. perhaps. the whole story has
never been told.
Fortunately for the public morals. the present
United States Attorney for this district is fear
less and conscientious man. As Assistant Dis
hict Attorney during the Whiskey Ring trials.
Mr.. ". H. Bliss did not allow local interests and
personal friendships TO obscure his sense Of
duty. Later. and in face OF powerful opposi-
ton both at Washington and on the bench. he
began vigorous prosecution OF the persons
believed 10 be concerned in the frauds In the
construction OF the new st. Louis Custom House
and Post Office. an edihce designed by Mullett.
and contracted for and built on the old Mullett
plan. The Court set aside his indictment as
formally detective; Gen. Devens subsequently
pronounced II perfect in every respect. AL
though the prosecution was thus blocked In the
Court the evidence already secured was so
strong and had made such an impression on
te country that an Administration friendly 10
Walsh the accused Superintendent was forced
to remove him from Office thereby vindicatinR
tie District Attorneys course In an etfectual
T.
tc Missouri Bank, Mr.. Bliss will perform a
duty that must be disngreeuble 10 him for many
PERSONAL reasons. He apparently Intends 70
settle the important question whether the bank
inr laws OF the United States are sufficient TO
pr tect honest stockholders and TO punish bank
officers who wiltully and Systematically abuse
unir trust.
The history Of the capture and ruin OF the
Missouri Bank IL story Of brains working
without cash and without conscience. The chief
character is Capt. James b. Eads. n financial
slyeuturer who talks in millions and deals in
Sudacity. perseverance. and persuasive words.
THE MAN WHO SWALLOWED BANK.
James b. Eads is IS years old. He is a small
stranger would think him consumptiye. A
Air Insurance nctuary, on superficial view.
would class him among the extraordinary risks.
with perhaps three months 10 live. Under a
irnll physique there is an indomitable will. and
hetremendous energy ana WORKING power oi
h.yer inactye. Il grasps large ideas and mul-
tlulnous details with equal facility. Busy
Win half n dozen concurrent enterprises, II
mus room ior the conception planning. and
II. Is a financial genius. for he manipulates
panss and negotiates million dollar loans. He
mechanical geniu for he tnkes on his coat
ana superintends in person the execution OF
his own plans. bringing 10 the aid OF his enRi-
herne operations the most perfect appliances
politician for he handles Legislatures and
Congresses and secures the legislation he wants
Kln not half the ado that John Roach would
NIKE over the same Job.
10 society Capt. Eads is popular. His man
t,fs are easy and graceful. The same pleasing
tllress that gains him the confidence and the
lars # capitalists and the votes OF legisla-
tIs makes him charming in conversation and
Welcome everywhere. No man In America can
make heater On-hand speech. turn q cOmpll-
nrhl more prettily. or more adroltly word re-
guest so that il seeme 10 lay the obligation on
We sranter. Unlike most men who are cassed
~ steam engines in trousers. Capt. Eads 5 ma
watch.
nAnumber Of years ago he married the Widow
DNqn oi this city lady who is said 10 own a
t'o. leal OF property His family OF children
He Is the most enterprlsinR man l ever
new said an old business ally Of his yester-
uo' Hs would be valuable aid TO civili-
Soh IN any community. were It not for one
uaMl9rlunate habit he has"
.. y hat ID that p
he cores with too big an auger"
saas; lie has great head but he has ruined
ssood many men by his schemes His enter
ssses are always maRnificently successful ex-
~ lor those whom he designs 10 benefit He
bs 'is llghl along until he plays out his friends
snd' d'.5 s3 ana then he takes up somebody else
snu sails right on"
n, oeil another SAID Of him: He is the father
most unfortunate for the city Of st. Louis"
may De thatSl these gentlemen are stock.
Guets In the National Bank OF the State Of
rsoe.uil In that case their opinions must be
Ptou win due allowance for personal bins.
onI 'us s came IRON Iowa. He began life as sec
MIX on river steamboat. His earliest
ne h,,lge Of practical affairs was derived from
AMI plSssure engine that drove his amb0at,
~ Alufaulics from the naked wheel aetern Of