The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1884-07-12
JOHN c. EMO.


The Late President of the Second National
Methods-The Advantages of Having n
Well-to-Do Father.
IN. Y. star,l
The men who. outside of the Grant fam.
'ly, stand out prominently in the great
panic on Wall street, are Ward, Fish,
Seney and John c. Emo. OF the four, the
'ast-named is, in some respects, the most
interesting. For one thing. he is young,
reported to be only twenty six years old,
representative of that class Of spectators
who plunge into the market with the heed
lessness of youth. and ara apt to lead
themselves and other people into serious
trouble, not only by rashness but also by
extravaganza. Every body acquainted on
wall street observes the large proportion
81 eallow brokers and spectators.
Another point of interest in Eno's case IL
mis- position, UP to May IL. rs President of
;he Second National Bank, one of surpris-
ing dignity, his youth being considered.
lhen his method of appropriating money
which did not belong to him was most
notable for its ingenuity. Most OF the
money lent by the bank was upon collateral
securities, which, for convenience rs well
as for safety, were kept. not at the bank,
which is situated under the Fifth Avenue
Hotel but in Il vault down town. OF this
vault the President, who went down town
every day, and there made and renewed
loans and received payment Tor them
naturally kept the key, and when he re-
ported to the cashier at night that he had
! lent such and such sums on such and such
| collaterals his word was taken for it, and
| his checks for the amounts mentioned
were daily h0nored. Thus. little by little,
the books of the bank showed Si,0oo,oU OF
call loans upon unexceptionable collateralS,
when in fact the money had all gone to the
Presidents private account.
With the bulk of this money, Mr.. Emo
| specialized, unfortunately for him, in
stocks which continually declined in price.
In cons 'quences of his terrible losses, the
time came when it was necessary to ac-
| quaint his father with the condition of his
affairs. Then the old gentleman. Mr.
Amos Il. Emo, came to the rescue with
enough money, aided by an assessment OF
300 ON each stakeholder, by which $50,
| 900 was realized, to save the bank IRON
suspension. As the bank paid out s2,ii2,
| wv III TWO Gays during tHc run which Ion
lowed young Eno's resignation of the
| Presidency and the ruinors of its shaky
| condition on account of his losses, some
thing may be onjectured as to the drain
on the paIernal purse necessary to prevent
a catastrophe. One bundle of money
taken to the bank for this purpose 10y th'
father of the prodgal son i, said to have
contained Si,000,OOJ worth of bills. Still
more money was forthcoming from thu
purse of Mr.. Eno Sr., as frightened de
positors collected amounts due to them
and the bank was saved. As Mr.. Amo'
X. Emo is worth $4,000, 900, his sons act
so far do not leave him in a condition o
absolute poverty.
Emo looks older than he is, his hair bein
slightly tinged with gray. He is medium
sized, plain, busigess-like looking man
The "manly fringe upon his upper lip" il
the only hirsute adornment on his hand
some and capable countenance. Nothin
appears in what is being said about hin
} which reflects upon his character as
married man of domestic tastes. His di
= grace is solely attributed to the fever
o speculation from which he suffered.