Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1885-11-27

soon affterward retired from tho
presidency of the bank !. '' 81 ..38
What became of the boy asked
ono Of the bankers. SIS 4 RI Vi
He is now one Of the most trusted
clerks IN my banking house. 2 2
hat is q curious story e = remark.
ed the elderly member of the party.
s! heard good one, however, in
which Russell Sage was concerned.
The incident hap opened only d few
months gago, and it was il y financial
institsltio in which Mr.. Sage IS s. Di-
rector. After the routine business Of
| Directors meeting had been dispos-
ed OF one morning, the Directors at
MIR. Sage srequest sent for the Presi-
dent of the Institution Mr.. ----='
questionod Il Russell, sa what + is the
amount of the bond that our Cashier
gives .,s3 The Presid entsreplied that,
as is usual in most banks, the Cash
ier's bond was purely nominal. The
amount was $4,000. s.Isee that two
or three bank Cashiers ana Tellers in
this city have run away lately said
Mr. Sage. L think we had better in
crease the amount of our. Cashiers
bond to $4,000. You please talk
with him about it and let US knew
what he says
"The Directors went away and the
President with much difidence gap-
preached the Cashier on the subject.
The Cashier flushed up at once and
manifested some indignation.ss Here
minded the President that he he'd
served the bank for sixteen years and
had handled8more thans$ 5000, 600, 600
during that time. Yes, yes, know
said the President apologetically.
Nobody doubted your honesty for a
moment, but you know how queer
Mr.. Sage is, and it won't trouble you
any more to give a SIS, OOObond than
to give bond for IS, 900 u.a...,. ....-,.
That is true,' answered the
Cashier calmly. 'Nowlet me illustrate
the matter from my standpoint.
Here is a package of greenbacks TAX
ing slender package out of g. com
partment OF the vault near which the
President and himself were standing.
How much do you think there is in
this little package?'
":I do not know and can not
guess, answered the President.
y" There are $780, 900 in good Unit
ed States currency. Now I will slip
this into my trousers pocket lsuiting
the action to the word, and after
buttonlng my coat you would not no.
tice anybulgingofmy pockets. What,
therefore, is to prevent my walking
out OF this bank some afternoon with
$500, 900, or even $1,OOO,OOO? I
could be in Canada before you would
even suspect that had stolen any
thing
"'But you are not thinking of doing
such a thing,are your asked the Presi-
dentowith deep concern:
"sNo, / am no thief said the
Cashier with dignity, 5.but a bond for
SIS, 900 certainly would not stop If
was dishonest
'The President assured the Cashier
that he appreciated the significance OF
the illustration. The next day the
President described his interview to
Mr.. Sage and some of the other Direct
ors. He suggested that the Directors
would gain nothing by requiring the
Cashier to increase the amount, OF his
bond.
"1 don't know about that! Idon't
know about that!' said Russell Sage,
in his quick nervous way, as he stoop-
ed to pick up a pin off the carpet;
money is money nowadays. think
you had better get a good bond for
$4,000 instead Of SIS, 900. That is q
difference of $4,000, and you know
that $4,000 is MOTTO be sneezed at in
these days
The three sociable bankers laughed
heartily at this story. They all knew
Mr.. Sage, and they could appreciate
the point OF the narrative. After a.
brief pause, the banker who had told
no story said: II can tell you q true
story of young brokers' clerk who,
from deliberate honesty, threw away
an opportunity to steal 500, 900,
when he knew that he would never be-
detected: When George I. seney was
specializing heavily in railroad securi-
ties, he had a large amount of bonds
hypothecated with first-class Wall
street firm. The bonds bore interest
paying coupons, and under the terms
OF the hypothecation Mr.. Seney's.
clerk was to have access to them every
the co,inons the clert1 70 L,,otrI,
the brokers' firm. One dav when he
dropped in to cut off some commons
the 'hypothecated securities were
handed to him. and he was left alone
in one commandments .of - i,e ,officas
The firm of course. 9,,etained in tia
possession aslistaof all thes 9hysn,othe.
Gated Securities. which it WAS accns-
toned to- onpare with the securities
returned bv the clerk. ON this sln,ar-
ticular occasion th,e' "clerk sfn,1ntf in