Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1912-09-13

,vas that of the Patton National Bank
~ Ct Louis. It took down with 1t al
rncdt every one Of its correspondents
-fSe Exeter Trust company especial
II and Blackwelrs bank, one Of the
Oldest In the Mississippi valley. It's
New York correspondent, the Amster-
bof National, sent west half-million
dollars In gold that never returned to
ira money vaults. The bank was closed
nv the national bank examiner on a
saturday afternoon, few minutes be-
fore three o'clock.
was in the Stock Exchange on
Wall street the next Monday, follow
ing the fluctuations of some st. Louis
securities which the Patton Nation
al had been instrumental in placing
IN New York. 1t was an ugly morning
for anything west of the Ohio. came
ont of the Stock Exchange at two
o'clock disguised with securities. The
Astors were the longest-headed fnan-.
c,ers after ALL The earth alone was
secure.
AsI went down the steps into the
street, an old man CAME out from one
of the exits of the gallery to the ex-
change and spoke to me. rs this Mr..
Courtlandt Parks?" he said. l re-
plied that it was, and hurried on up
the crowded street / was not in a
very pleasant mood, and he was evil
IDENTIFY a provincial out to see the
horned and hoofed beasts of which he
had read in his weekly newspapers.
He followed me, however, and when
reached the crossing on Broadway
he was at my elbow.
l spoke to him then, bit impatient
ly. May / inquire" said, "who 1t
ts that honors me with so close an
attendance?"
The old man hesitated little. II
am jeremiah Patton" he replied, "the
president Of the Patton National Bank
of st. Louis. ! want to see Randolph
Mason"
l turned sQuarely upon him, with
no effort to conceal my atnazement.
He was a tall old man with close
cropped gray hair, mild brown eyes
and q kindly mouth. His face was
wan and colorless, and one of his
legs dragged little when he walked.
could not stop there on that crowd
ed corner to converse, even with a
Magus, although / should not have
been more disturbed had l met one
of these tabled wise men.
took him with me to Randolph Ma
sons house. l wished to hear his
story, to learn the details of the fail
ure. The newspapers were not a lit
tie puzzled over it; the bank had
seemed prosperous, without shadow
upon it, up to the day it was closed by
order of the comptroller of the cur
rency. Banks do not commonly drop,
some fine morning, suddenly into ruin;
whisperings go, usually, before de-
struction.
was bit doubtful Of the identity
of the tall old man until l saw him
bare-headed, without his great coat,
in chair by the fire. Then / instant
ly recognized him from the newspaper
cuts, which represented him seated
by table; but he was more impress
sive, stronger in this pose. His fore
head was broad, his head big and we'll
covered with thick gray hair; but the
face, as I have said, was gaunt, the
eyepits and cheek-bones showing the
first ravages of disaster.
His story, told to Randolph Mason
In voice that broke now and then
and was pieced out with desolate ges-
lures. presented, situation, in my
opinion, beyond human agencies to
correct. The matter had proceeded
too far. Events, arising in orderly, in
Internal sequence, had entirely over
whelmed him.
jeremiah Patton was seventy-five
years old. He had made fortune as
Wholesale merchant, and had retired
from active business late In life, with
a reputation established throughout
the west for fair dealing and highest
integrity. He had no family, his wife
having been dead for twenty years.
1t had appeared to him that by estab-
fishing bank, he could usefully EN-.
ploy his wealth, so he had erected
modern Office building on good COR
ner and founded the Patton Savings
oank, of which he was president and
almost the exclusive owner. His OBJ
Iect was to encourage spirit Of thrift
among the middle class of the city,
and his method was to allow his de-
poSitors every cent that their deposits
earned, less the fixed charges of the
Oahk. His own capital yielded a SUI
"elent income for his needs.
The bank quickly sprang into prom
Inence' Its deposits were enormous.
tS president found himself under a
aeaVy burden of care and responsible
'y IN the investment of these large
sums so they would yield substantial
profit.
ABOUT this time, Belmont Lane. the
auierican president of the Russian
on company, came to st. Louis to &C
Su're' II possible. the producing ter
ti'ory Of Missouri, and to establish
OsnKlng relations. Lane was man
VI eourtly address. imposing pres
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