The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-03-18
Juvenile EINANCIEIts.

Tho Wise schsms Employed by n 81. Louis
Father to Teach Hts Children to Save
Mon-y.
Enp York Recorder.
Tho most wonderful bank in oil tho
world 10 down In St. Louis. and ii boasts
Of a cashier who has reached tho grim
ago OF nino years and ak months.
This institution, which has become
famous, is styled tho ". g. Lindsey &
Sons Ranking Company, aud with tho
exception OF tho president no one con.
nocted with |. in an executive capacity
IL ovor ten years Of agc. II isa regular
childron's bank, run on a strictly busi.
ness basis, with its tollors. its cashier.
its checks and notes and certificate. of
deposit, all printed in regular form. II
is listed In all bank d!rce.oric, and
holds recognized position in banking
circlos. It's cashier. Robert 7. Lindsey,
has the distinguished honor OF boing
the youngest bank cashier In tho world,
position rightuIly assigned him BY
the London It'd Bits in tho isiue OF Jan.
uGry l2. 1895. in response to q .ubscrib.
ora question asking for information on
this point
The president OF the concern 10 Dir.
W. G. Liudsov. He is tho fa,hcr Of
four brigh. youug.tsrs-Robert 7. Lind.
SOY, agcl nine yosrs; Louis II. Lindsey,
aged seven years; Richard W. Liudssy,
aged five yesrs; and ". e. Lindsey, it,,
aged two ycars. A little oyer year ago
Dir. Lindsey conceived that II would DO
splendid idea II no could devise iome
scheme whereby his bouncing quartet
could be taught to ssvo money. After
mature elaboration he hit upon the
banking scheme and go, just full Of the
idea. lie would form little bank for
his children, teach them all its intri-
caciea. and iuculcate the desire TO save
money into their minds, so that when
thoy grew up to manhood they would
DO sure TO hang on 10 Home part OF what
ever OF the worlds goods they sue
cceded in getting their hands on.
So interested in the matter did he be-
come, says tho St. Louis Participated,
that he talked it all abou. tho store, and
| one OF his friends, who had heard OF it,
going on to Now York happened to fall
| into tho hands newspaper man 10
whom he outlined tho scheme. A small
item was printed about it in tho papers,
aud in a few days Mr.. Lindsey began re.
ceiving applications from the parents
OF little ones in various parts OF the
country asking that their children
might be allowed 10 take stock in the
| juvenile bank. He readily consented,
aud on February the ". C. Lindsey &
Sons Banking Company was formed,
with capital stock of 500. on the basis
OF 81 share. and an office a: 1851 Etzel
avenue, St. Louis. tho presidents home
Like mos. promoters. Mr. Lindsey in
stalled him'el. as president. Young
| Robert Lindsey was made cashier and
Louis II. Lindsey vice president. The
| board OF directors consisted OF these
three otlicerH and Richard ". Lindsey.
W. c. Lindsey, j.. Harrison Givcns, OF
Nashville. Tenn, Martin uarlwick, OF
Springfield, No.. and Everett. L. Annis.
Of St. Louis.
The bank has never done any specu-
lativn or investment; business 1t has
confined itself to loaning money at an
enormous rate OF interest 10 impecu-
NOUS clerks in the wholesale houses
along Washington avenue and in the
immediate vicinity. They charged on
all loans 5 per cents month or any irac.
ton thereof.
Meanwhile tho fame OF the bank con.
tinued to spread and moro children
wanted to invest. The pressure was SO
| great that tho capital stock was iucrcRs-
ed short while ago to $500. Over $50
shares Of this have already been SUBJ
acribed to. bu, tho demand has coutin.
ned increasing n: such n rate that At
tho las, meeting of the board OF direc.
tors it wac decided 20 file articles OF in
corporation. making the capital stock
$1,000. This will y, obably give all tue
ambitious money-saving Juveniles n
chance to invest ;heir surplus capital.
There are stockholders in thirteen
states OF the union aad one in England.
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