at he
might ask. Mr. Stout simply replied that the blow was a heavy one, but
that having assumed the obligation, he should discharge it; that he
asked no favors, and as the notes matured he should take them up. He
paid every dollar due, and every one was certain that his wealth must be
very large. His manliness, pluck, and integrity, which carried him
through that crisis, became the sure foundation-stone on which his great
fortune was laid. He took the front rank among successful financiers,
and his honorable course in that crisis established his fame as an
honest man, in whom it would be safe to confide. Years of earnest and
active business life have not changed that character, nor allowed a blot
or stain to cloud that reputation."[A]

[Footnote A: Matthew Hale Smith.]

Some years later, Mr. Stout became a merchant. He established a
wholesale boot and shoe store, and engaged actively in that business. He
brought to his new calling the energy, prudence, and integrity which had
distinguished him all through his life, and was successful from the
first. He worked hard. His business hours were from seven in the morning
until six in the evening. During his busy season, four months in the
year, he worked until ten, and often until twelve, paying his employes
extra wages for labor performed after the regular business hours.
Sometimes he worked until four in the morning, but that did not deter
him from being in the store at the usual hour for opening. He was always
the last to go home, never leaving the store until the business of the
day was over and the house was closed. He extended his operations into
dry goods, meeting with equal success in this department. As his
business expanded, he was compelled to form various partnerships, but in
all these arrangements he reserved to himself, like Stewart, the
exclusive management of the finances.

About eighteen years ago, the shoe and leather merchants of the city
decided to organize a bank, in which their interests should be the
principal consideration. Mr. Stout engaged in the effort with great
enthusiasm, and the Shoe and Leather Bank of New York was at length
organized under the most auspicious circumstances. Mr. Stout was the
largest stockholder in the new bank, and was elected one of its
directors. His influence was potent in directing its first operations,
and the next year he was elected vice-president, in which position he
really had the control of the enterprise left to