Evening journal., 1913-01-23
NEW NEW NEWS OF YESTERDAY
How a Pioneer Bankers
Prediction Came to
Pass
BIZ Honsnd.

A few days ago it was authorita-
lively announced that very large
block Of the stock Of the Chase Ma
tional Bank Of New York city had
been sold by the irst National Bank
OF New York city to Albert II. Wig
gin. president Of the Chase National
Bank This sale resulted in the part
ing by the First National Bank of its
controlling interest in the Chase Ma
tional.
The announcement brought 70 my
mind an anecdote once told me by
John Thompson. Familiarity known in
the last twenty years Of his long life
as Uncle John Thompson and some
times called "the father OF the ma
tional banking system.
That appelation was given to MT.
Thompson because he was the first
one to suggest to the secretary Of the
treasury in LincOlns administration,
Salmon p. Chase, the plan upon
which our national banking systeni
was founded.
was chatting with Mr.. Thompson
one day in 1890 in the Office where
he usually spent a few hours of tn,
day. which was a sort OF hall or open
space in front Of the tellers' counters
and presidents room of the Chase
National Bank ! said to Mr. Thomp'
son that had often wondered how
it had happened that he who was tho
organizer of the first bank in New
York city to take out a national bank
charter a bank which was called foi
that reason the First National, should
after while. have given up associa.
ton with that bank and should have
become the fiscal agent OF the gov
eminent and should have organized
new national bank.
The old gentlemau's eyes twinklet
under his bushy eyebrows heard (;
musical chucl1le His laughter wal
sort of chucl1lo which was really
musical He lifted his feet to an ad
joining chair, revealing thereby ;
pair Of home-knittcd wooden stock
ings Of the kind that the grandmoth
ers OF an earlier generation used e
knit Millionaire many times as Mr.
Thompson was he would wear moth
ing. he told me, but old-fashioned
/ nome knitted wool stockings.
"A good many people have asked
me-" said he. "how il was that If
wanted to stay i'm the banking bust
ness I didn't keep control OF the FRS
/ National Bank. which ] organized
! They couldn't understand why ! ant
/ my son. who controlled the First Ma
/ tional. should have sold out and then
after a while, organized this new
/ bank, which we named for our oil
I friend Salmon r. Chase
well. there was nothing but sentl
ment behind IT, / don't need TO q
into an explanation OF the reason
/ why we thought best to sell our stool
I'm the First National Bank The,
were good enough reasons for us, AM
therefore they are nobOdys bust
ness
81 had not long been out of tn
First National when ii seemed to m
that J ought TO be associated with
national bank as long as ! live. So
said 20 a fcw friends. Let's organic
a new national bank They said Z
INC. why. If YOU do that, you'll MAX
trouble in tho family because th
First National Bank Is your own frs
born
IL didn't mind what they said, br
I rather think ! had some idea {
showing that the Thompsons, wit
their youngest banking child. coul
hold their own against the ThomI
sons with their oldest
THAT was really the reason why
organized this bank.
IL don't mind telling you, howeve
that I have a curious premoniton
warns me that after I am gone M
first born bank and my latest Dor
bank will cease to be rivals and wi
come into one family. don't kno
how it Will be done, but l believe
will be done"
Il was exactly as Mr. Thompsc
predicted. Some years after his deaf
the First National Bank and Il
Chase National, through communi
of interest and interlocking owne
ship. became really of ono famil
Now, by the recent sale Of the sto,
of the Chase which the First Nation
held the family once more become
divided.
Copyright. 1913, by p. J. Edward
All rights reserved.)
Tomorrow Mr.. Edwards will IL
slow John Thompson Was Trick