The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-06

| dlOouy l2WyeT, Ou6 c9m0 20 new
York in 1856. joining the stock ex'
change in 1sTa- In 1854. 1t the time OF
the financial crash which carried A. s.
Hatch on his feet, Mr. Simmons was
made president of the exchange. by the
largest vote that had ever been given
to a successful candidate Upon the
expiration of his term he was uuani.
mously reelected. The presidency OF
The stock exchange is the very highest
honor that can be bestowed upon q
| broker. and it is only conferred be-
cause Of implicit confidence in the in
tegrity and Judgment Of the man. II
carries no salary, but tho distinction is
SO great that the Office is much sought
after.
Unlike many Of the bankers Of New
York. Mr.. Simmons devoted much at
tention to politics. He was q great
friend Of Mr.. Tilden. In 1885 he was
prominently mentioned in connection
with the Tammany nomination for
mayor, but declined in favor Of Mr..
Hewitt. From 1881 TO 1857 he was q
member of the board of education and
during large portion of that time was
its president. He was made president
of the Fourth national bank in 1883, in
recognition of his extraordinary ability
IS a finaneier, although at that time he
was not acquainted with any of its
directors, and owned not q dollars
worth of stock. But, in spite of his
lack Of national banking experience.
D. 1vSh ~ v,lo h<<~
mediately upon his assumption thereof,
for he was born to be a banker. His
acquaintance with the members Of the
stock exchange brought to his bank .
large share of their patronage, and tho
Fourth national is still known as the
brokers' bank. Its present business Is
very large and among Mr.. Simmons
intirnates and associates are Cornelius
n. Bliss, Z. T. Wilson, Charles s. Smith
and other of New York's best known
business men. Quito rs important to
Mr.. Simmons rs his business acQuaint-
ance has been the fact that President
Cleveland reposes in him the utmost
confidence, and has made it . point
almost invariably to confer with him
whenever knotty financial matters
have to be resolved. After the propo-
sition to the president was made by
Morgan and Belmont for the last bond
deal, Mr.. Cleveland wrote to MIR. Sim
mons, suggesting conference with
him, and, although the public knew
nothing of it, it was the advice of Mr..
Simmons in favor Of the proposition
that decided Mr.. Cleveland to accept it.
It is believed on Wall street that during
this conference Mr.. Cleveland told Mr..
Simmons that he would personally take
charge of the proposed bond issue on
behalf Of tho government This
elinched the deal, so to speak, and Mr..
Simmons entered both syndicates-
Personally the president of the
Fourth national bank is Jolly, tells an
excellent story, is widely known in the
clubs and is notable for his unvarying
courtesy to all with whom he comes In
contact
Mr.. Henry W. Cannon, president Of
the Chase national bank, has exempli-
led in his career the disabilities that
lie before q young man of energy, en-
ierprise and integrity, who knows an
opportunity when he sees it He was
country boy, born in 1850. so that he Is
bow but forty-fve years old He had
the advantage Of good instruction in
bis youth, but he did not go to colleges
Instead he entered the First national
bank of Delhi, n. Y, his birthplace, as
clerk. From Delhi in 1870 he went to
St Paul, Mimi, as an officer Of the
Second national bank. but soon left
that institution to help organize the
Saltwater LumbeYman's national bank.
There he served as cashier, and the sc-
tive management of the institution fell
almost entirely to him So well did he
perform his duties that the bank with
stood successfully the panic Of 1873, al
though many an older and stronger in
stitution succun1bed. More than that,
his ability attracted outside attention,
and when John Jay Knox, who had
virtually been comptroller OF the
United States currency from the e,tab-
iishmcnt Of that Office, was ready TO re-
sign. President Arthur chose the young
saltwater banker as the most avail
able man for the place. This was .
great forward step for 50 young a man.
but Mr.. Cannon showed himself quite
adequate TO the exscting duties of the
place, developing . rare degree Of ex-
ecutive ability and adding greatly to
his already excellent reputation ~ =
fnancieP. In 1885, however, feeling
that his salary as comptroller, only five
thousand dollars, was hardy cocunen-
surate with his ability, be resigned to
become president of the Chase national
bank. founded BIZ John Thompson
who originatsd the present nationals
system Since Mr.. Cannon
has been president Of this bank fl has
rome 10 be one of the rlest Important
meeting places for leading politicians
" no are also men of Affairs Republicans
ike Gen Sam Thomas ard democrats
fike Senator Calvin s Brje~ are often 20
be found hobnobbing over business in
he par.ors Of this hank. and Nj Can
aon's scnrlain.ancc and association
With men Of this s<,-. has been Of great
advantage 70 HIN IN busrnes.
When Pressier. Harrison was called
rpon - appoint commissioners 20 the
ast international monetary conference
sr. Cannon was among those chosen
Although then bpt little over forty he
.cqui,fed himself NOS. ereditably n.
his conference and thereby sdded
really 70 his prestige. When the clear
ny house decided 20 Issue certificate,
dr. Cannon supported kr. Tsppcn
orally aud whenever the latter was
.biiret 20 Re away from The ofs-e Of the
tearing house, Mr. Cannon to<k his