Evening journal., 1914-09-04
New News Of Yesterday
A Remarkable Instance OF
Business PrObity
ny HOnsns.


The lates Benjamin b. Cheney lit
tie thought when he began to carry
parcels in his stage to be delivered
somewhere on the line OF his stage
route, from Nashua to Concord, ~ H.,
that he was laying the foundations OF
what would be found at his death to
be one Of the very great American
fortunes. For from that modest be-
ginning he went ON after the COM
ing Of railroads, with the business of
carrying parcels from one point TO an
other until. at last, he had developed
a considerable express business La
ter, he went into business association
with Herndon, who began to carry
parcels on a railroad between Bos-
ton and Providence after the railroad
which connects those two cities was
built Thus was established what be-
came a great business enterprise
II was not the accumulation, how
over, of a fortune well up In the mil
lions which was esteemed the greatest
of Mr.. Cheney's achievements. He had
q higher honor than that for he had
demonstrated that II Is possible to az
quire by ones own exertions. COM
bined with good business judgment a
great fortune without having done in
Justice to any man. Mr. Cheney's
greatest asset was his character and
his finest achievement was the in
fluence which he exerted. especially
at times when there were tendencies
toward reckless financing and unjust
business methods.
! have been told by more than one
man Of prominence in railway affairs
that there was one incident in Mr.
Choney's life which did much to es-
tablish q sense of honor and reCtitude
In the world of railway affairs which
had become somewhat demoralized
Mr. Cheney was one Of the early di-
rectOrs of the Atchison, Topeka and
Santa Fee Railroad Company. IL was
in the days when that corporation
was gradually extending its lines with
intent ultimately to reach the Pacific
Coast There came time of business
and financial depression. This entail
tailed serious embarrassment for the
Atchison Railroad Company, although
for some months none OF the direc-
tors knew of that. One day one Of
Mr.. Cheney's associations upon the
board said 10 him:
1--WE have got to apply to the courts.
We have got TO 20 into a receivers
hands. You know that as well as /
do"
Yes, Mr., Cheney knew il, and had
known it for some time.
"The market quotation for Atchison
stock is still fairly good. said his as
sociate. 81 am going to sell my stock
now Don't you think it would be
good thing for you to do likewise?"
mo, I do not think that Il would be
wise for me to sell my stock now"
said Mr. Cheney.
"Why not2 You know that as soon
as we go into a receivers hands the
stock will be practically unmarked
able"
"That is just the reason why am
not going TO sell my stock" said Mr..
Cheney. 81 should regard it as fraud
upon the purchaser. | have private
ana personal knowledge of the condi-
tion of this property of which ! am
part owner and of which am direc-
tor Now, IL / were to take advantage
of this knowledge by selling my stock
at the present quotation. then | should
do an injustice to the man who bought
it. ! will not sell a dollar of my
stock"
Mr.. Cheney Kept his word He might
have got out about even. As It was
he lost heavily, but as he said to a
friend, he had kept his self respect,
and the report of this action of his
having spread abroad served to
strengthen the moral standard of
some of those who were interested at
that time in railway affairs.
Copyright. 1914. by f. j. Edwards.
All rights reserved)
Tomorrow Mr. Edwards will tell
How a Banker Saw Himself AS 9th
/ ers Saw Him."