Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1912-09-13
TheDiStrict Attorney
By MeEviIIe DAVIDSON Post
Copyright by Edward ]. Clode

Lane carried, through various employ-
es OF his company, a nominal inter-
est He, therefore, did not appear on
the books as an owner Of any stock.
and his name was in no way connected
with the institution. He explained
that because Of the wide financial re-
lations OF the oil company it would
be unWise to connect his name with
any one bank, since, should the1c
pany want to borrow money, he would
be asked why he did not get it at his
own bank.
jeremiah Patton remained as the
president Of this new institution and
its nominal head, although its active
affairs and virtual control passed into
the hands Of a board Of directors Sc
lected from the associates of Belmont
Lane.
The old man halted a little in the
march of his narrative, searching il
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
1t in words. It always so eluded him,
he said, when Lane was not before
him. In the mans absence, his in
f1uence was naught; before ones face,
Lane. urged plan, 1t seemed at once
practicable, alluring, filled with prom
1se. He made men gaze with him from
his own window, and out of it 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
er, 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
thought to have returned to Russia.
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 guiliotine, 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
president of the company which wreck
ed the bank, and its greatest stock
holder My coming to New York will
be considered as a fight from JUS
tice. can hardly hope to reach st.
Louis unaccompanied by q United
States marshal. / 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 1t.
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 the
Judge and the district attorney were
products of recent political upheaval
in his state. The former united
States Judge, man in but middle lie,
had died suddenly the previous Sep
TENDER. The present judge, more q 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
" learned in the law.
The district attorney was man
named Stetheimer, elevated to his po-
sition as q reward for conspicuous
narty service in the last national cleo
ton. He had organized a certain
large element of the city, and held
it until a bargain was struck for THIS
nosition. The man was ambitious and
hungry to be rich. The position OF
United States district attorney car
ried with it a general practice OF the
hest value in the Federal courts. THIS
nractice Stetheimer was anxious TO Sc
cure. jeremiah Patton had heard TINS
criticism of him. Some editors OF OPP
posite politics had even accused MIN
- .ool-ino thA civil business of large |