It was the only bank in America which redeemed its circulation in gold, disdaining to take refuge under the law and pay its obligations in greenbacks.

It had few notes, and I doubt not the decision paid as an advertisement.
In addition to the embarrassment of my friends Mr.Scott, Mr.Thomson, and others, there came upon us later an even severer trial in the discovery that our partner, Mr.Andrew Kloman, had been led by a party of speculative people into the Escanaba Iron Company.

He was assured that the concern was to be made a stock company, but before this was done his colleagues had succeeded in creating an enormous amount of liabilities--about seven hundred thousand dollars.

There was nothing but bankruptcy as a means of reinstating Mr.Kloman.
This gave us more of a shock than all that had preceded, because Mr.
Kloman, being a partner, had no right to invest in another iron company, or in any other company involving personal debt, without informing his partners.

There is one imperative rule for men in business--no secrets from partners.