The Owosso times. (Owosso, Mich.) 1897-1926, 1909-05-07

Raymond Nom was eighteen when
he entered the aeryice of a small bank.
He was aami Fight 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 fortune was by saving.
Consequently each week when lac
drew his salary he put aside certain
amount for this purpose.
Raymond was a great favorite 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 bond paying 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 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 it 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 OH
margin. Stocks were considered very
cheap and bound to have a good rise.
AS Nolan had his affairs arranged
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 it 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 $1,000 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 lost
my savings of years. I believed that
there would soon be rise that would
restore all / had lost and give me
much more. l borrowed money from
the bank to use for margin. Stocks
have been 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 it was, failure was I'M
avoidable.
"Mr. 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. 81 shall
not 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
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 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,
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 a position. The only jobythe
merchant would give him was that Of
porter. He accepted 1t, 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-
NAMED a fixture. He saves money
saves 1t not for himself, for he is liv-
ing a life without either present or
future. He is saving It for the boy
whose father he wronged. He has
given that boy child's savings bank,
and the boy, too, is saving. And there
is a lesson In finance the young capt.
talist receives at intervals impressive
ly. Is 1t not to speculate? No. 1t is
the one great lesson that every boy
should learn-never use cent OF
trust fund.
Nolan Is no longer a porter. He Is In
a business of his own. He manages 1t