The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-10-12

one OF the most powerful In the Wall
street district. Probably one Of the best
indications of the love and esteem in
which he was held was the manner in
which his thousand or more employees
Oh the bank at so Broadway received
the news of his sudden death yesterday.
Most OF them were in a dazed state Of
mind, but all Of them were eager to re-
late some instance when Mr.. Wallace
had aided them.
Mr.. Wallace was married when n
young man, and four children of this
marriaks survive They are James ~
wallace, Jr., and John X. Wallace, both
OF whom were In the army during the
war, and two younger children, Ralph
and Josephine. His wife died several
years ago, aud two years ago he was
again married to Miss Charlotte Chi
chester, who, with a baby boy, Howard
.. Wallace, survives him. Mr.. Wallace
maintained a city residence in st.
Marks avenue, Brooklyn, and a country
home at Palisades. He was member
OF the Downtown Association, the Met
ropolitan Club of New York and the
Bankers Club, the Hamilton Club of
Brooklyn, the Nassau Golf Club and the
Engiewood. the Tuxedo and Remson
clubs.
Held Many Directorates.
He was a director Of the Bank of
America, the Brooklyn Heights Rail-
road Company. Brooklyn Rapid Transit
Company. Continental Insurance Com
pany, Edison Electric Illuminating
Company Of Brooklyn, Fire Companies
Building Corporation; Galveston, Hous-
and Henderson Railroad: Kings County
Electric LgtN and Power Company, Me-
chanics and Farmers Bank. Morristown
Trust Company. New York Dock COM
pany, New York Municipal Railway
Corporation, Sloss-Sheffield Steel and
Iron Company, Transit Development
Company and the Union Carbide Com
pany.
Wall Street develops a wealth of
traditions Of Its own about every man
who comes to the top Many OF them,
mostly true, lowered about the repu-
tation OF James N. Wallace. He was one
OF the least known rich men of New
York His face was not a familiar
one. from newspaper pictures, to the
average man or woman on the Street,
and that suited him exactly. 1t was
one reason why pictures of Mr.. Wallace
were difficult to secure. He preferred
to remain. personally. in the background.
business man whose opinion on daily
affairs probably has been sought as has
been the opinion of no other Wall
Street man of his generation
His anonymous charities ran into a
large figure each year and on this fea-
ture Of his life Mr. Wallace would say
nothing. Capt Variety. who has been
door man at the Central Union for
years, after a career on the police
force, was selected by Mr.. Wallace to
aid him in helping people who really
slAA l. IL
him, and 1t very probably is true, that
he has given away one dollar for every
dollar that he earned.
Accessible to Reporters.
His attitude toward the newspaper
reporters of the Wall Street district was
one of the things which endeared him to
men of the financial district. 1t was
always possible to "see' Mr.. Wallace.
ind he was not of the sort to hem and
haw about a question asked. II he knew
the answer or the information, he would
give It straight from the shoulder and 1t
could always be depended upon. He was
great believer in publicity, and very
frequently. when some good financial
s'ory was being held up. Mr.. Wallace,
as court of last resort, was appealed
to for aid in getting the Information.
Commanding of presence. large of
oCtfC, ana distinguished IN appearances.
Mr.. Wallace habitually wore bluff and
gruff toga on the outside. His first few
words have been known to scare a GUS
toner clear out of the building. His
vocabulary was not a restricted one and
&c used 1t with force and emphasis. but
woe betide the man who attempted to
do business with him and appeared
afraid IF him. Beneath the rough in
terror was great heart vitality inter-
csted in everything with which he came
in contact. from the street sweeper on
the street to the million dollar corpora
ton. Both of them frequently received
his financial assistance and expert guild
ance.
AS a member of the money committee
during the war Mr. Wallace's services
were of inestimable benefit to the coun-
try, from a finacial standpoint. Since
the armistice, and in these gruelling
days of reconstruction, he had his sinewy
shoulder to the wheel of business, pull
ing and hauling, trying to get things
particularly the big things in the finan-
cial world--back on an even keel.
Jim" Wallace will be missed nightly
in Wall Street.