The Marion daily mirror. (Marion, Ohio) 1892-1912, 1909-02-19
lAAAAAAAAAAAAAAAAAAAAAAAA
A BRAVE
SINNER.
ACKNOWLEDGEMENTS
right, 1909, by American Press Asso-

| lcVByiibnlt lJU5, ny american tTeSB AsHO-
| Ciation.l
Raymond Nolan was eighteen when
he entered the service of a small bank.
He was bright fellow, not only
ready to do his own work. but that
Of any one else. He had been taught
the value of money and that the surest
way to start a fortune was by saving.
| Consequently each week when he
drew his salary he put aside a certain
amount for this purpose.
Raymond was n great fnvorite with
Mr. Porter, owner of the 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 n bond paying 4 per cent
interest From this time his capital
increased 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 I'm
value. He sold them and had 81 900 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 n depression of securi-
ties, but usually upon reaction he
would find himself further ahead than
before. At one OF these depresslons he
| concluded to increase his investment,
accepting a loan from his broker for
the purpOse-in other words, buy on
margin. Stocks were considered very
cheap and bound to have a good rise
AS Nolan had his affairs arranged n
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
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 capt
tai. His brokers called on him for
margin" and told him that If he did
not hand II in at once they would sell
him out. Stocks were very low, and
when the market turned they would
likely boom.
This was turning point in Nolan's
career lie 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 n sud
den collapse Of the stock market lost
my savings Of years. l believed that
there would soon be a rise that would
restore all l had lost and give me
much more. l borrowed money from
the bank to use for margin. Stocks
have been still going down, and 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 weathercd without
this one. AS It was, failure was un-
avoidable.
"Nr. Porter" said the young man,
"call n policeman and turn me in for
conviction. There will be no trial. I
shall plead guilty"
"No," replied the president. 81 shall
not prosecute you"
"Then I viii surrender myself"
The president endeavored to per.
suade the young man to go out into
the world unsmlrched and begin again.
But, no. He had sinned beyond his
own forgiveness, and his life had lost
its 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 aud within 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 soon as the prisoner regained
his liberty he sought out this child,
whom he found selling papers. Nolan
went to a merchant whom he had
known before his embezzlement and
asked for position. The only Job the
merchant would give him was that of
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 n fixture. He saves money
saves II not for himself, for he is liv-
ing a life without either present or a
future, He is saving It for the hoy
whose father he wronged. He has
given that boy a child's savings bank,
aud the boy, too, is saving. And there
is a lesson in finance the young capt
tallst receives at intervals impressive J
ly, Is 1t not to speculate? No. It is
the one great lesson that every boy
should learn-never use a cent of
trust fund.