Connecticut western news., 1909-03-11
A AAAAAAAAAAAAAAAAAAAAAAAAA A BRAVE SINNER.
Copyright, 1909 by American Press Ass,
 citation

of any one else. He had been taught the value of money and that the surest way to start fortune was by saving. Consequently each week when he drew his salary he put aside a certain amount for this purpose.
 Raymond was a great favorite with MT. Porter, owner of tie bank. Seeing that the youngster was in every way fitted for promotion, he promoted him as rapidly as vacancies occurred. At 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 bond paying 4 per cent interest. From this time his capitGl increased a little more rapidly. His attention being called to certain shares that were paying double the interest lie 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 $1000 of his own.
 As year after year passed Nolan found himself nearer to the amount he had fixed upon fer legitimate invest mcnt. Sometimes he would sink away from it under a depression of securi- ties, but usually upon 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 good ri9e. AS Nolan had his affairs arranged a rise of five points would give him his $1O,O00.
 But, contrary to expectations, stocks continued to depreciate, sinking in- stead of rising five points. Then they rested awhile, and another period of liquidation carried them down ten points further. On down they went till Nolan found that he had lost his capi- tai. His brokers called on him for margin" and told him that if he did not hand 1t in at once 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,OOO from the bank without reporting the loan. Stocks went down, and he borrowed more money.
 One morning ten years after Nolan had entered MT. Porter's service he went into that gentleman's private of flee and said to him:
 "Mr. Porter, some time ago at a sud den collapse of the stock market 1 lost my savings of years. I believed that there would soon be a rise that would restore all I had lost and give me much more. I borrowed money from the bank to use for margin. Stocks have been still going down, and have lost $25O0O 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 it was, a failure was un- avoidable.
 "NIr Porter" said the young man, "call a policeman and turn me in for conviction. There will be no trial. shall plead guilty"
 "No," replied the president. 'I shall not prosecute you"
 '"Then I 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 it's charm. Thereafter he would live under the blight in any form fate as- signed him. He left the president, gave himself up to the police under his own confession and within a week was in state prison beginning a term of ten years.
 Nolan, receiving the shortened time for good behavior, was discharged in about seven years. The banker had failed and had died, leaving a child a boy without mother or support of any kind. As soCn as the prisoner regained his liberty he sought out this child whom he found selling papers. Nolal went to a merchant whom he had known before his embezzlement and asked for position. The only job tue
 
 porter He accepted it, took the boy to live with him, sent him to school and otherwise provided for his mainte- nance.
 One habit acquired by Nolan has re- mained a fixture. He saves money saves it not for himself, for he is liv- Ing a life without either a present or a future. He is sa Eing it for the boy whose father he wronged. He has given that Eoy a child's savings bank, and the boy, too, is saving. And there is a lesson in finance the young capi- t2list receives at intervals impressive !y. Is it not to speculate? No. It Is the one great lesson that every boy should learn-never use a cent of a trust fund.
 Nolan is no longer a porter. He is in a business of his own. He manages it himself, but thrOugh others. He takes the risks usual to any man who ham, dies money, but he pays cash and will not permit other peoples money to re-, main in his possession overnight-not