The Washington herald., 1918-03-30

cotton merchant. was an intimate
friend Of Moses Taylor. who did
much to create the City Bank be-
fore Il became a member OF the
National Banking System, Second
only to his own business as cot
ton merchant. was the senior Still
mans interest in the City Bank. He
was proud of its achievements. He
was anxious that II should maintain
the high place that 1t had gained
under Moses TayloF's presidency,
and he often communicated to his
son, James. his view of what the
future of the City Bank might be.
Therefore, when, Unexpectedly.
Mr.. Stillman was invited to accept
the presidency OF the National City
Bank, the tender memories asso-
ciated with his father were suffi-
cient to enable him to overcome
the reluctance he felt at undertake
ing the responsibilities of a banker.
Within a year or two after he
became president of this institution.
Mr.. StiIlman demonstrated his pro-
found grasp Of the opportunities for
enlarging banking activities so that
they might keep pace with the mar
velous industriaf~ and commercial
development, the era of which was
just beginning when Mr.. Stillman
became president of the City Bank.
1t was announced one day that the
Third National Bank-an old institiu-
ton that was not very prosperous al
though sound-was, for reasons deem
ed expedient by the stockholders, to
go out OF business. A day or two later
there came a supplementary announce
ment stating that the National City
Bank would liquidate the Third Ma
tional. That was an original PROPOSE
ton with Mr.. Stillman. The liquida-
ton was admirably compased-in fact
so well that the City Bank received
almost the entire deposit list of the
Third National; by that one stroke, the
deposit line of the City Bank was in
creased 100 per cent. But of more
consequence than this, was the revela-
ton to men of finance and bankers
that the cotton merchant was a man
Of profound ability, great capacity for
foresight, and was a new force that
must be reckoned with.
James StiIIman Misunderstood.
achievements were along entirely new
lhCo ~ AaA a. utNtlODIIltnl
was concerned. He was much misun-
derstood. Those who did not know
him well were persuaded that he was
a man of ice, his entire ambition be-
ing concentrated upon the kind of
success that brings great money re-
turns. That was an erroneous view.
1t was partly explained by the fact
that Mr.. Stillman was by nature shy
and reticent. Sometimes it seemed
that he was almost morbidly of that
disposition. This caused him to seem
stubbornly reserved, but those who
were brought into somewhat intimate
relations with him discovered, when
this apparent shyness was thrown
aside, that he possessed really a warm
heart, glowing imagination, tender
sympathy and perhaps the best ca
pacity for picturing forth the growth
of New York and the United States,
in vivid and even picturesque words,
Of any man Of his generation.
He was not fluent of speech. how
ever, often hesitating as though
searching for the right word, but If he
forgot himself he was capable of ut
tering profound thoughts upon pres
ent=day as well as future conditions.
using prose that was almost classic
in its precision and dignity, as well
as conciseness, and what he said was
clear to the understanding and need
ed no exposition.
He was not a man for the news
paper writer's to besiege with ques-
tions. and yet II he felt confidence in
a writer for the press he would some
times speak in a most informing man
ner of conditions, continuing his
speech II he perceived that the writer
to whom he spoke was interested and
grasped his meaning. But he pre-
ferred to open a discussion of this
kind upon his own impulse.
Believed Publicity Necessary.
To illustrate. a few weeks before
the panic of 1907 began Mr.. Still
man, drawing aside one to whom he
had a communica ton to make,
asked il it were not possible to
write for publication something
which, while not calculated to
alarm the public, might, neverthe-
less, skilfully and with wisdom
cause the public to reflect that, un-