The Newtown bee., 1891-09-25

h did not like to interfere with Parmelee If business, but did not like the way tn r loans were made. Elon held, at tha e time, from l5 to 20 mortgage notes. Flo 0 did no writing himself. All the cores k pondence was done at my desk. I ful nished paper, ink, envelopes, stamps d everything. 1 talked with Parlnele e about the Toledo investments many times e in Elon's presence. had authority iron , Elon to open his letters when they came ) When Raymer, Seagrave S Go. failed f they had ,0O0 or $20,O00 of Elon' , money. The loans were not all frs = class. l know that, in some instances . real estate had to be taken by foreclos , ure. l think they failed ill 1882. Afte : that, had an immense amount of worl to do for him. There was not an invest : ment but what they were in default O
 interest and much of the property no
 first class as an investment. l then tolc Elon l did not want any more fooling about his business in Toledo. He must
 have an agent there to do his business fol him. He wanted to know who he could
 get and recommended George c. Stah
 to him. He said, "Do as you think best
 I wrote to Mir St;thl and asked him tC
 take charge of the business there for Mi
 Booth. The work extended over two or
 three years and did Il great deal of cor
 respondence through Mr Stahl and we
 adjusted matters as well as we could. ftNhapa b,,t .l.
 left in the original hands. The rest were
 re-invested in Toledo by Mir Stahl. His
 business relations with Stahl continued
 down to 1889, 1 think. When loans on
 real estate were called for, if the locat- ions were favorable and securities offered
 ample and satisfactory to me, l would tell Elon to take it and, so far as l know, so long as had charge, the loans made were all good. If 1 said not make d loan, he did not do it. He never made an in- vestment at that time, unless it was done through me. Everything was referred to me and l never did anything without his knowledge. Elon may have taken d few securities without consulting me, but they were very few and am sorry that many of them proved poor. Nota single investment which | advised turned out bad. Elon was at my store almost every day, after l took control of his property, consulting about his business. Often took up half q day of my time talking of his Investments, difficulties and troubles. Have talked months with him in regard tC ho S,
 is but one of many instances. I gave him always memorandum of all busi- ness done. Elon was always reading my papers and asked me often what thought of buying certain stocks. Anywhere from two to l2 letters week probably wrote and my correspondence for him would probably occupy half q day of my time each week. The account at the Un- ion Trust Co. was opened ill 1883 or 1881. At that time, he had a large loan paid and 1 did not want the money in my bank and told him l should put it with the Union Trust Co. It was my suggestion that he do it; it was no suggestion of his own. Al one time, he had Il large amount of money and advised him to buy Unit ed States Express stock. He bought 54 shares at 59 or 60 and it has never been so low since. He had at that time 46 shares and advised him to buy enough to make it 100 and he bought 54 shares. He bought securities in Kansas; $l5, 5,000. His first loan was to James NJ. Turney,
 $25OO. By my advice, Elon took stock in Kansas bank. The bank paid 10 per cent. for several years. The last knew of the stock, It was worth l55. He in- vested in another Topeka bank $2OOO. He also bought stock in d water com pany. This was all in 1881, 'S5, 'S6, 'S7 and 'SS. don't recall any other invest ments he made there. He loaned Mr Willard in Kansas $450U. In 1886, Ar thur T. Nettleton of St. Paul wanted me to induce Elon to loan him money to in- vest in real estate it St. Paul. In 1887 or 1888, Elon sent money to MT Nettleton to invest. 1 was satisfied that MT Net tleton would make good investments and I advised ElOn to send the money. So far as l know, on every loan he made, the interest has been paid promptly. | think 1000 was loaned to Nettleton by my advice. In June, 1889, he made $ loan of $2500 to Mir Bessing of St. Paul. In 1882, Elon agreed to take from c. E. Taylor 5000 in bonds of street railroad in Petersburg, Va. The first three cou- pons were paid, none after that. When in New York, always tried to find out something about the stock I remember one time when in New York, I did not go to enquire about it and Eion was very an gry when got home, and said, ssD-n it, ain't my business of just as much conse- vuence as yours?' In 1884, the Metro politan bank failed. Elon worried about that, as he had stock in it. Some who had stock sold at 30 and it went as low as 10. After it began to advance, ad- vised Elon not to sell then; but, at d la- ter date, he sold and got $55 or SGO d share. He had New Jersey Central rail- road stock. It got into trouble and some stock was sold at $6 d share.
 l advised him not to sell. The estate still holds the stock and it is
 worth more than par. He was always
 worrying about his business. and com ing to my store constantly to talk about it. It would be impossible for me to tell of all the hundreds of transactions
 in the way of business that I did for him. give only q few of them. He
 was man who was not capable, the
 last few years of his life, to transact his
 business without assistance. He made