The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1884-06-06
Elk. PRESIDENT OF THE SECOND NATIONAL
BANK, NEW YORK, VINO "ArrRo.
PIRATES "a, 100000"

The men who, outside of the Grant family,
stand out prominently in the great panic on
Wall street, are Ward, Fish, Seney and John
T.. Emo. or the four the last named is, In
some respects, the most interesting. For
one thing he is young, reported to be only
twenty-sx years old, a representative Of that
class of Spectators who plunge into the mar
ket with the heedlessness of youth aud are
apt TO lead themselves and other people into
serious trouble, not only by rashness but by
extravaganza. Everybody acquainted on
Wall street observes the large proportion Of
callow brokers and spectators. Another
point of interest In Eno's case is his position,
up to May II, As President Of the Second
National Bank, one Of surprising dignity, his
youth being considered. Then his method
Of appropriating money which did not belong
to him was most notable for It's ingenuity.
Most of the money lent by the bank was
upon collateral securities, which, for conve-
nience, as we'll as for safety, were kept, not
at the bank, which is situated under the
Fifth Avenue Hotel, but In q vault down
town. OF this vault the President, who
went down town every day, and there made
and renewed loans and received payment for
them, naturally kept the key and when he
reported 10 the cashier at night that be had
lent such aud such sums on such and such
coilaterals, his word was taken for 1t, and
his checks for the amounts mentioned were
d,,ty Ia hy III Ia tha han Lo
of the bank showed S4,OO0,000 of call loans
upon unexceptionable collaterals, when In
fact the money had all gone to the Presi.
deut's private account. With the bulk Of the
one-Mr. Emo speculated, unfortunately for
him, In stocks which continually declined In
price. In consequence Of bis terrible losses
the time came when It was necessary 10 &C.
quaint his father with the condition of his
affairs. Then the old gentleman, Mr.. Amos
X. Emo, came to the rescue with enough
money, aided by an assessment of $500 on
each stakeholder, by which 5000, 900 was real
lied, to save the bank from suspension. As
the bank paid out s2,412,0O0 on two days
during the run which followed young Eno's
resignation Of the presidency and the rumors
Of Its shaky condition on account Of his
losses, something may be conjectured as to
the drain on the paternal purse necessary to
prevent q catastrophe. One bundle Of
money taken to the bank for this purpose by
the fsther Of the prodigsl son, is said to have
contained one million doii.rs' worth Of UIfis.
Still more cash was forthcoming from the
purse Of Mr.. Emo, Sr., As frightened depos-
itors collected amounts due 10 them, and the
bank was saved. As Mr.. Amos r. Emo Is
worth $25, 900 900, his sons msdeeds, so far,
do not leave him In n condition of absolute
poverty.
The hero Of this story looks older than he
Is, bis hair being slightly tinged with gray.
He Is medium.sized, plain, business like
looking man. "The manly fringe upon bis
upper lip" Is the only hirsute adornment on
his handsome and capable countenance.
Nothing appears In what Is being said about
him which reflects upon his character as Q
married man of domestic tastes. His dis
grace Is solely attributed to the fever Of spec
ulation from which he suffered. or late, he
has not been seen in the places he habitually
frecuentcd.