The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1912-09-20


Jeremiah Patton remained as the
president Of this new institution and
its nominal head, although it's active
affairs and virtual control passed into
the hands of board of directors Sc
! lected from the associates of Belmont
Lane.
The old man halted little in the
march of his narrative, searching If
| he could bring into more vivid out
line the figure Of Belmont Lane This
mans real character was still mys-
| terry to him. The clue to his charm
ing, persuasive, dominant personality
| eluded him when he tried to embody
it in words. 1t always so eluded him,
| he said, when Lane was not before
| him. In the mans absence, his in
fluence was naught; before ones face,
it was irresistible. When Belmont
| Lane urged plan, it seemed at once
practicable, alluring, filled with prom
| Use. He made men gaze with him from
| his own window, and out of 1t all
things looked good. So, when Belmont
| Lane suggested a sub-company with
an enormous paper capital to acquire
leases in Missouri for the Russian
company, he readily induced Jeremiah
=, Patton to assume its presidency and
to hold in his name almost the entire
stock. Again, Lane was not of this
company; few of his employees stood
in the charter with Patton, and
made board of directors which re-
volved around Belmont Lanes finger,
as the bank did
One fine morning, while Mr. Patton
was in Chicago, the sub-company Dor
rOwed two millions of dollars from the
Patton National bank on its note, with
its stock as collateral. Ten days lat
err, the National Bank Examiner con-
| demned this loan and declared the
collateral worthless. A further exam
ination of the banks accounts showed
extensive overdrafts of the sub-com-
pany hidden under dummy notes. The
bank was insolvent, and the examiner
closed it at the direction of the Fed
eral authorities at Washington.
The assets of this sub-company
! proved utterly worthless. Belmont
Lane could not be found He was
Jeremiah Patton was utterly ruined.
But this was not the worst feature
Of the situation: the incensed public
demanded that some one be punished
for so great swindle. They instant
ly erected a guillotine, and found no
head to place under it but that Of
Jeremiah Patton.
At this point in his story the old
man arose, took several financial
| sheets from his pocket and spread
| them out on the table. Their head
lines clamored for Jeremiah Patton's
arrest.
"You see," he continued. II was
ed the bank, and it's greatest stock
holder. My coming to New York will
; be considered as flight from JUS
tice. l can hardly hope to reach St.
Louis unacc0mpanied by a United
States marshal l am certain to be
indicted by the next Federal grand
| Jury, and certain to be convicted
| Randolph Mason was standing by
| the fire, his shoulder leaning against
the mantel, his arm extended along it.
He began to examine the old man with
sharp, searching queries-not as to
the details Of the story he had just
related, but with respect to the per-
sonnet Of the Federal court In this
city
! The old man replied that both tho
Judge and the district attorney were
products Of recent political upheaval
| in his state. The former United
States Judge. man in but middle life,
had died suddenly the previous Sep
TENDER. The present Judge, more pol
itician than lawyer, had yielded an
election to the senate in order to OBJ
tain this life appointment to the
bench He was generally regarded as
an honorable man, but one not great
ly learned in the law.
The district attorney was man
named Stetheimer, elevated to his po-
sition as a reward for conspicuous
party service in the last national cleo
ton. He had organized certain
large element Of the city, and held
1t until bargain was struck for this
position The man was ambitious and
hungry to be rich. The position Of
United States district attorney car
ried with 1t q general practice of the
best value in the Federal courts This
practice Stetheimer was anxious to &C.
cure. Jeremiah Patton had heard this
criticism Of him. Some editors Of OPP
posite politics had even accused him
| Of seeking the civil business of large
interests under a yelled suggestion OF
protection against the rigor of certain
acts of congress. Mr. Patton thought
| these corporations were principally
those that were said to be constant
violators Of the Interstate commerce
laws. Still, the district attorney was
reputed to have great influence with
the new judge. His advice was usual
ly followed with respect to the conduct
of trials The common impression
was that the judge. not yet familiar
with the Federal procedure, assumed
the advice of the district attorney to
be correct. The district attorney was
successfully posing as an able lawyer,
while, in fact, he was an obscure prac-
titioner Of Indifferent learning This
was the glst Of all that jeremiah Pat
ton had heard about this court
| Randolph Mason took his arm from
the mantelshelf and turned to the
banker. You will at once return to
l