Evening journal., 1914-03-02
NEW NERS OF YESTERDAY
Men Who Postponed Cash
ing Their Checks
By Holland.

happened to mention incidentally
one day to Asa Potter, who was for
merly a banker of Boston, and was
intimately associated IN business
with Jonas French, at one time chair
man of the Democratic State Central
Committee, of Massachusetts, an Incl
dent which had been narrated to me
BY the late Charles Finney Cox, who
was for many years in a post of high
executive authority in the Vanderbilt
railway system
said: Mr.. Cox told me Of an eX-
traordnary incident which came
within his personal knowledge and
which related to a curious dispOsi-
tion respecting his Investments by a
man who owned a large block of the
securities of the New York Central
and Hudson River Railroad Com
Danies. This mans dividends, which
in the aggregate each year were
large. were forwarded 10 him by
check. After his death the adminis-
traitors upon his estate discovered a
large number of these dividend
checks which had never been de-
posted or offered for payment. This
investor had kept them In a secure
place. but had evidently felt that
The money which these dividends
represented was as safe IN the form
Of checks as in any other. The aggre-
cate amount was some ten thousand
dollars. The administrators pre-
sented them and they were duly paid
over to the estate
Il can tell you of an incident some
what similar TO that, although the
amount involved was not so large,
said MIR. Potter. For many years
before his death, John p Healy was
the Boston city solicitor. His rela-
tions with prominent politicians were
intimate and he could, If he had been
so disposed, have secured nomination
and probably election to a more
conspicuous Office than the one which
he held. He was a man of great per-
sonal popularity, the soul Of honor,
and was widely respected.
Among his more intimate per-
sonal friends was Frederick Prince
the Boston banker, who ror many
years was the treasurer of the Ma
tiOnal Democratic Committee. That
relation to national politics brought
Mr.. Prince into very close associ-
ton with the men who were of the
highest influence in Democratic poll
tics. not only in Massachusetts. bu,
throughout the United States.
II never knew whether or not Mr.
Prince had any knowledge of the pc
culiar way in which Mr. Healy kept
a portion, at least, of his bank ac-
count. but have always had an idea
that Mr.. Prince did have his own
suspicion of Mr.. Healy's unique
method of banking.
1T was not known generally how
ever, until after Mr.. Healy's death.
Then those who administered his
estate discovered that he had a good
many unpaid checks which had been
given 10 him for payment for sef-
vices. either professional or as a pub
lie servant. l have forgotten what
the aggregate amount of these checks
was. but l do recall that while not a
large sum II was considerable
amount of money.
Inquiry was made to learn the
reason why so many checks OF this
kind-some OF them dated months
back-had never been presented by
Mr.. Healy for payment. Then Il was
learned by those who had the most
confidential relations with him that
when he received a check he looked
uDon il as so much cash. He put Il
in his wallet. where it found the
company Of many other checks. II
at any time he was in need of money
he would take out his wallet and
draw from IL one of these checks
which having been cashed. Furnished
him with all the money he needed
for the time Then when again h
found il necessary to use actual casl
he would draw another check from
his walle. and get 1t cashed. Tha
was his habit for years. No one coul,
explain this idiosyncrasy, but 1
seems TO have been something lik,
the one which persuaded the investor
in the securities of the New Yorl
Central Railroad Company to keel
his dividend checks for years"
Copyright, 1914. by E. ]. Edwards
All rights reserved.)
TomOrrow Mr. Edwards will taf