The Birmingham age-herald., 1918-03-22

Oil stock. The result was that he ob- tained at low figure block of Stand ard Oil stock which was worth a good deal more in the market than the quo- tation for it when he made the loan. AIr. Olcott, who was a somewhat impul- sive man. got very angry. and he never would permit himself or his bank to have any dealings with that lender. Such an incident would be impossible now.
 WHAT JAMES J. HILL DID
 The late A. B. Stickney, that Maine school teacher who afterward yentured to promote the Great Western railroad, constructed his line, or a part of it. in competition with a line owned by James J. Hill. In the panic of 1884 MT. Stick ney found himself in grievous embar- rassment He had borrow s40O,0OO from an institution in New York, and pay ment of the loan was insisted upon. MT. Stickney was in despair. He could find no one or no bank to help him. While in that state of mind, he met upon Wall street James J. Hill. MT. Hill greeted Stickney cordially, and then commented upon his appearance, saying that he was fearful lest MT. Sticllney was ill. But it was mental illness and not phys- ical which was affecting Mir Sticlxney, and he so said. He explained to MT. Hill why he was in great distress of mind, and told Mir. Hill what had caused this distress. Without waiting for more than moment or two, Mir. Hill said,
 Don't bother any longer, Stickney. I'll take care of that loan for you" And he did so, doing this act of kindness to a man who was building a railroad which would compete for business with one of the Hill lines. Such embarrassment as MT Stickney then met with could at this day of the federal reserve system in all probability be prevented
 WHAT JAY GOULD DID
 There was man, a clear-headed. energetic son of Ireland, who was em- ployed by Jay Gould to do certain serv- ice in the west. Mir. Gould had a pe- culiarity not exclusively his, however. He disliked to make payments on obli- gations by drawing checks upon his cash balance in the banks. As far as possible he would make payment through operations in the stock exchange or se- curities market. When the man finished his work MT. Gould instructed a subor- dinate in his office to open an account in the name of this man, based upoa q stock exchange transaction. limo passed and no settlement was asked or made, Mir. Gould forgetting all about the obligation. One morning he received a letter from this man, saying that he was coming to New York to see MT. Gould. Thereupon Mir. Gould said to his assistant that he presumed the man was coming to get his money. and he requested the assistant to look at the stock account, so that he might discover how it stood. As soon as possible the assistant reported to Mir Gould, saying that the account showed a profit Of s750O0, whereupon Mir. Gould said, 'Let him have it when he comes to New York and close out the account" In few days the man appeared in MT. Gouids office and was cordially greeted He was told he would be immediately paid for his services The assistant took the man into an adjoining office and then asked him how much he thought he should receive for his services. He thought $5000 would be about right, and he was told that he would receive con- siderably more than five thousand. How. much?" he asked. You will receive S75.000. and check will be drawn up within a few moments" The man went away. astonished and content deeming himself to have become suddenly com paratively rich.
 But with the course of the stock mar ket as it has been of late it would he for Jay Gould or any one else to liquidate debt by means of a stock market transaction.