Omaha daily bee., 1922-01-30
Hepburn Model
for Young Men
Entering Banks
financier, Killed by Motor
Truck at Age Of rs, Gained
Wealth While Con.
structive Leader.
By HOLLAND.


A. Barton Hepburn, As active at
rs as ever, yet IN an instant an un-
seen motor bus crashed upon him
and after lingering few hours he
was no more, except in memory. He
gained repu,e both national and IN
tcrnational as banker. His counsel
has been so followed as 10 secure
legislation by congress which was
OF inconeeiyablc value IN the late
summer OF 1914. His beneiae,ions
TO colleges and universities were
large. Two books which bear his
name as the author, for he wrote
those books, are now standard his
tories OF some features OF American
finance and currency. Yet after all,
possibly the recognition which he
gained for never swerving from the
honorable principle which he early
adopted and which was based upon
personal and business integrity is the
highest tribute that can be paid 10
him. For although he accumulated
q large fortune, yet il was said OF
him that as he was always true 10
himself and his principle. He was
never false 10 any man. Many OF
his constructive undertakings, while
bringing wealth to himself also add
cd TO the prosperity OF Others.
A lesson IL to be discovered. especially
for those who are now taking tho places
of men who have been leaders In bank
ing. finance and constructive work, IN
the history OF Mr.. Hepburn's life. lie
W n ms QA
who were with him, members OF the |
lower house OF the New York lcgisla-
ture. knew that he possessed what may |
be called the bankers mind. He was
therefore able not only to gain an early
OF banking from the
technical point OF view but also TO per-
oeiye what the opportunities for growth
of American banking were. He was fear
OF mere money makers who tried In |
every way to sntagonize all that he was
attempting for the Improvement OF
American banking He became the
ment OF New York state, although
very young man for so important res |
possibility and his service In that post |
has been OF value which continues even |
10 this day.
Later Mr.. Hepburn was national bank I
examiner in New York city, and HIS !
and reports, sometimes rather |
severe, were nevertheless accepted as !
baseu upon conultiOns as ne uiSNoNcEtu /
them. President Harrison called him TO /
Washington as comptroller OF the cur
rency and in that responsible position |
he served two years.
At Last Bank President.
When President Harrson's administra-
ton was ended. Mr.. Hepburn was called |
10 New York by one OF the national banks
which sought to make him president. He |
had been in that office less than a year
when he found 1t expedient to advise
that the institution be liquidated 1t was
solvent but woefully dry-rotted and there
iiquidated, although not absorbed by the
National City bank. Mr.. Hepburn be-
came vice president of the National City
but he was not comfortable In that post.
tion Of United States Senator Calvin ).
Brice and Gen. Samuel Thomas, who
controlled the Chase National bank, 10
come to their institution as one OF the
greater career began. There also he mad
his first opportunity to gain large ac.
rumula tions. The bank management
nersaadcd him to undertake to sonver. %
made upon the security of property on
Long Island. He was to receive gooa
percentage of the profits which woulu
follow the reorganization Of that'property.
Here was the first of many opportuni-
ties for his constructive ability. He was
able to negotiate upon excellent terms
the sale of that property thereoy
liquidating the loans which the ,d nsas srans mac
sum as his commission. The bank OF
ficers sent him to Florida so that ne
might untangle a situation when naa
caused the bank managemehu, sghe The
anyiety In this he was successful. Inc
bank received in full all that 1t mad al
vanced upon the Florida proposition ana
Mr. Hepburn further increased ms enloiu,
M ents by the commission whlch tne panM
tn m
The Chase National was one OF ,ne
smnller banks of New York wnen M. NJ.
Hepburn went to 1t. His unusual aVie. pnre
casting situations and opportunities were
soon revealed In the rapid grown "
this institution until at last y oecalnte'
under his leadership, one Oh NE srbes tbsre
wa. never a complaint that any man or
any corporation or any enterprise hau
been impaired or unfairly dealt Win. put,
instead. the comment was ,nnssrat, areuusrt
ed the possibility of converting oppor.
tunity Into success and of doing tEat
without injury, but with benefit 10
everyone.
Banking Intuitions Unusual.
He forecast at the time OF the money
panic in 1907. the necessity OF so pro-
viding by legislation as to make money
,staa the recommendation afterwards
adonted hy congress by which the emer-
rency currency law was enacted, re-
source which was not needed until tne
outbreak of the European war Then TINS
legislation stood between panic and the
OF the federal reserve sys-
TEN, splendid stop gap when eon,lh-
ued from August until November MI
also as president OF the Amer.
ican Bankers association, made many OF
the recommendations which were after-
wards adopted by the committee or wnicE
Senator Aldrich was the chairman,
COMMITTEES which was called the none
tary commission. Its report was the ba-
sis OF the federal reserve system.
Mr. Hepburn had confidence and faith,
which characterized ]. Pierpont Morgan,
in the future of the United States and ne
eften said especially in the year OF busi-
ness depression. that the stupenduous
paturaI resources of the United States and
"a speedily gained position as the credi-
or nation Of the world would irresistibly
force in due time renewal and vast
Increase of prosperity. His faith in the
of the southern states not
,nIy as an agricultural. but as a manu-
section was never weakened.
And yet, when the probate OF his VIII
shows how many millions he accumulated
the best CT all tributes that can
he paid to his career and memory will be
the assertion. that he showed the Young
men Of the United States the possibility
Of gaining great wealth without doing In
Justice to any man. but instead or SO
acting as a constructive leader that many
others shared in his own good fortune.
kearney Teachers College.
Miss Berniee Pumphrey has received
the gold medal certificate for speed and