The Washington herald., 1908-08-30

He does not limit his benefactiOn to men,
bers Of his own people His IS a potent
influence IN q great many Of the leading
charities Of the metropolis. He too. il
viii be recalled. provided the SO 90 that
established the Theodore Roosevelt pro-
fessorship in American History ana Insti-
tutiOns at the University OF Berlin Mr.
Speyer IS a warm admfrer OF the Presi-
dent and this fact, together with his
desire 10 promote knowledge Of this
country IN the land Of his forbears. led
Air. Speyer 10 found the chair. Inciden-
tally, this act IN behalf Of International
education made the donor persona grata
with the Kaiser
Though the youngest OF our wOrid-fa-
nous bankers at the head Of a string OF
great banking houses scattered in two
continents. Mr. Speyer is credited BY his
associates and rivals with being one OF
the keenest dusnciers now engaged IN
the trying game Of making money with
money He was twenty-five when he vas
sent 10 FrankfOrt-on-the-9Tai TO receive
his banking trai7ing in the family house
there That happened n 1888; he has,
therefore, been in the business in which
he has made his name just a quarter OF
a ceutury-snd for an appreciable period
Of this time he was gaining his training
by being sent from one to another Of his
E-AEtpcAA AGA1cs. 4NDL UnLl4 L5 lGQ De-l
schooled in all OF the foreign branches
was he permitted 20 return 20 this coun-
Try
Considered from the personal stand
point, Mr. Speyer Is 10 be classed with
those men who do not come up physically
70 their position in life Were you 70
meet him walking IN Wall street. and
were unacquainted with him. you would
probably take Nj Speyer for some we'll
gToOmed clerk in one Of the banking
houses OF brokers' Offices near al hand
Schif. with his cl0se-cropped gray beard,
you would look at twice and ask who he
was Morgan you would follow with
your gaze as long as he was in sight
Higginsou's soldierly bearing and rugged
features would compel your admiration;
but SDeyer. with his rather smooth. IN
impressive face and conventional mus
tache. you would probably never think
Of again after you had glanced casually
al him as he passed you by
Mitchell Bank President at 2s.
A man who never seems TO be in
hurry. who apparently never worries.
who always wears q genial smile and
has a courteous word for every one Is
John J. Mitchell. OF Chicago. who be-
came a bank president at twenty-slx and
who now receives the largest salary Of
any bank president, bar one, in the
United States
Mitchell wss elected president OF the
bank he still heads back in 1880. when the
institution. with its capital stock depleted
70 10000 from i've times that amount.
was seriously thinking Of winding Up its
affairs and going out Of business Mitch
ell who had started with the bank seven
years before as a messenger and been
promoted steadily from department 10
department. allowed that the bank stiu
had some life left in il. told the directors
as much. and added IN his boyish ardor
that he felt sure he could pull the bank
through its troubles The gentlemen OF
the board mulIed q while over what the
youngstsr had told them. recalled his
unusual efficiency in the various positions
he had hued. decided TO give him q chance
20 restore the banks prosperity. and as
an earnest Of their intentions and feeling
toward hin elected him president and
told him 70 go ahead
Mitchell went ahead with a vim. One
q his first acts was TO decree that the
bank vas 70 accept 10 name paper. that
all loans must be backed by collateral
security which could be easily realized
upon The immediate effect Of this and
other orders OF q somewhat revolution
ary nature in the banks methods Of do
ing business appreciably reduced the vol
uue OF business below all former low
levels. but while others became more dis
couraged than before. Mitchell doggedly
looked TO the future 10 justify him and
bring its reward Of prosperity -Four
years after becoming president. he had
the capital stock back 10 its original fig
llre: in another four years he had dou-
bled Il. and nineteen years after his
election as president II was Just S2.0oaot9.
Since the middle eighties NTitcheIEs name
has been one 10 coniure with IN inan-
ciaI circles Of the Middle West
One OF the most interesting pieces Of
work that Mitchell ever did for his bank
was the measuring OF several million