Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-08-05
There are different ways of further

ing ones getting on In the world
! Shortsighted persons can see only one
way, which is acting on the adage
| Every fellow for himself and the
devil take the hindmost" Neverthe-
less men have made fortunes by help
Ing others. The difference between
this class and the other is that one
acts with a view to bettering his con-
dition, while the other acts through
kindness of heart.
When was a young man obtained
position in a bank and by attending
faithfully to business rose to be cash
! Ter. / was economical. SO far as my
own personal expenses were concern
ed, but / don't think I was mean. /
| would never lend small sums to my
young men companions, but when any
| one really needed assistance would
give it outright.
That 1 had good judgment in making
investments is proved by the fact that
my savings grew rapidly. When l was
twenty-seven years 1 married Molly
Erskine, aged twenty. A year after
our marriage word came in from
western town that there was only one
! bank in the place and room for more.
After talking the matter over with my
wife l decided to start bank there.
l got some of the stockholders of the
institution with which 1 was connect
ed interested in the project and with
my own capital in due time opened my
doors for deposits.
l found that the man already estab-
lished, John Redfield, had antagonized
certain persons by declining to give
them all the discounts they desired, and,
there being no other banker in the
town, they had taken steps to have one
establish himself there. These persons
welcomed me, opened accounts with
me and averred that if I would do
liberal business and not be scared at
trifes I would soon do all the business
of the town.
1 saw at once that Redfeld was not
pleased at the appearance of rival
and took secret means to discredft me.
He kept the best and safest accounts.
while the weakest came to me. But
by adhering rigidly to fixed principles
of banking and acting on the supposi-
ton that there was business enough
for both of us 1 got my share of the
new deposits, which were increasing,
and occasionally one of Redield's Gus
toners would fall to me. But, as had
maintained, there was business enough
for both, and at the end of five years
Redfield had more than held his own,
while l had obtained a solid footing.
Bankers, like sea captains. must ex-
pect storms. I managed my affairs
with this in view; but, as in the case
of a sailor, much depends upon the
facility with which he can get in sail, |
so the bankers safety depends upon |
his ability to get in his loans. If the |
captain keeps his sails fufled he will |
make no Roadway, and if the banker |
keeps his money in his vaults he will |
make no money. When the panic of |
1907 came on I was in as good, if not |
better. condition than the average
banker to meet the storm.
1t looked at one time during that |
panic as if the financial structure Of !
the United States was about to col |
lapse. 1 confess 1 was in great fear |
that it would carry me down with it |
and bury me under its ruins. Every |
day more money was withdrawn from /
and locked up. / got in all
the loans I could and sold at a great /
sacrifice all my private property. This
fund I turned into gold, took 1t to my
home and concealed it under a board
in the floor. 1 proposed to keep it to
enable me to pass crisis.
The financial barometer-the New
York stock market-continued to fall,
md money grew proportionately scarce.
One morning / heard that q run had
been started on Redfeld's bank, and
as the day wore on the line before the
paying teller's window increased.
There was nothing like a run on my
bank, but during the day the amount
drawn was three times the usual av-
erage.
The next day the line leading to the
paying teller's window of Redfield's
bank was increased, and at noon Red
field came to my bank and told me that
he must either have help or close his
doors. He asked for it on the ground
hat if he went under the panic would
extend to me and I would be carried
Down with him.
l told him that I did not think so.
That there would be a run on my bank
was willing to admit, but my intelli-
money, and 1 could pay all the rest.
Then" he said, 81 am ruined. / am
100 old to begin again, especially with
4 debt hanging over my head. If
lad $4,000 or $4,000 to tide me over
he rest of the day I could pull
through, for tomorrow I am promised
payment on a sale of bonds I have
made"
1t was then 10 O'clock 1 told Red
ield that ! would consider the matter
# helping him and let him know by ..
f not earlier. He went back to the
hungry crowd before his bank. and L,
'alling an auto cab, went home There
found my wife and told her that I
vas called upon to save RedfeId, with
he strong probability of going under
myself later. If 1 gave him the gold
had in reserve he would pull through. 4;
But my trouble was still to come. and.