The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1909-06-10

A BRAVE (
| SINNER ;

AhHJ hiObo ~NOiNb Ndb ClSnlcEn WHICH
he entered the service Of a small bank
He vas a bright fellow. not onl,
ready to do his own work. but tina
OF any n else. he had been laugh
the value Of money and hat the sures
way to start d fortune was by saving
Consequently each week when b,
drew his salary he put aside a certain
amount for this purpose.
Raymond was a great favorite witt
Mr.. Porter, owner OF the bank. Seeing
that the youngster was In every way
ftted for promotion, he promoted hin
as rapidly as vacancies occurred. Al
each raise of salary Raymond increas
ed the proportionate amount that he
put aside for his nest egg" When
that nest egg reached $500 he looked
about for some method Of investment
He bought a bond paying 4 per cent
interest. From this time his capital
increased a little more rapidly. His
attention being called to certain shares
that were paying double the interest
he received on his bond. he changed
his investment. The shares not only
paid him the interest, but rose In
value. He sold them and had $1,000 of
his own.
AS year after year passed Nolan
found himself nearer to the amount he
had fixed upon for legitimate invest
ment. Sometimes he would sink away
from 1t under a depression of securi-
-
ties, but usually upon a reaction he
would find himself further ahead than
before. At one Of these depressions he
concluded to increase his investment,
accepting a loan from his broker for
the purpose-in other words, buy on a
margin. Stocks were considered very
cheap and bound to have a good rise.
AS Nolan had his affairs arranged a
rise OF five points would give him his
$4,000.
But, contrary to expectations, stocks
continued to depreciate, sinking in
stead Of rising five points. Then they
liquidation carried them down ten
points further. On down they went till
Nolan found that he had lost his CAPT
tai. His brokers called on him for
margin and told him that If he did
not hand 1t In at nee they would sell
him out. Stocks were very low, and
when the market turned they would
likely boom.
This was a turning point In Nolan's
career. He borrowed $1,000 from the
bank without reporting the loan.
Stocks went down, and he borrowed
more money.
One morning ten years after Nolan
had entered Mr.. Porter's service he
went into that gentleman's private Of
fee and said to him:
"Mr. Porter, some time ago at a sud
den collapse of the stock market l lost
my savings of years. l believed that
there would soon be a rise that would
restore all / had lost and give me
much more. / borrowed money from
peer still going down, and l have
lost $4,000 Of your money"
The president told him that the
shortage had been discovered; that the
bank had made other losses which
they might have weathered without
this one. AS 1t was, a failure was I'M
"Mr. Porter" said the young man,
call a policeman and turn me in for
conviction. There will be no trial. /
shall plead guilty"
mo" replied the president. II shall
lot prosecute you"
"Then | will surrender myself"
The president endeavored to per
suade the young man to go out into
The world unsmirched and begin again.
But. no. He had sinned beyond his
own forgiveness, and his life had lost
is charm. Thereafter he would live
lnder the blight in any form fate as
him. He left the president,
himself up to the police under
his own confession and within a week
vas In state prison beginning a term
II ten years.
Nolan. receiving the shortened time
or good behavior. was discharged In
bout seven years. The banker had
and had died. leaving n child, a
Joy. without mother or support of any
lind. As soon as the prisoner regained
lis liberty he sought out this child,
whom he found selling papers. Nolan
rent to a merchant whom he had
before his embezzlement and
for a position. The only job the
merchant would give him was that of
He accepted 1t. took the boy to
i've with him. sent him to school and
otherwise provided for his mainte-
lance.
One habit acquired by Nolan has re-
n fixture. He saves money
ayes Ii not for himself. for he is liv-
ng a life without either n present or a
uture. He Is saving it for the boy
whose father he wronged. He has
iven that boy a child's savings bank.
nd the boy. too, is saving. And there
S a lesson in finance the young capt
alist receives at intervals impressive
Y. Is 1t not to speculate2 No. 1t is
he one great lesson that every boy
hould leara-never use a cent Of a
rust fund.
Nolan is no longer a porter. BE is in
business Of his own. he manages it
Iimself. but through others. He takes
be risks usual TO any man who ham
les money, but he pays cash and will