the life of Philo T Farnsworth - Early Television Foundation

PROMISE OF FINANCIAL HELP 63
Mr. McCargar was not at his accustomed place,
and one of
the attendants told me he was away on vacation and would not
be back for a couple of weeks. Since I was due in El Paso on a
campaign contract within that time,
I was much disturbed and
inquired further regarding the possibility of McCargar's earlier
return.
James J. Pagan, executive vice-president of the bank, observed
my anxiety as I passed his desk and asked, "What can I
do for you, young fellow"
I replied, "Mr. Fagan, I was looking for Mr. McCargar. I had
a matter to discuss with him."
"Can't I help you"
"No, I don't think it is
anything that would interest you in
the least. It is not an investment, it is not a speculation; it is
wildcatting and very wildcatting at that."
This seemed to intrigue Mr. Fagan, who at that time was
regarded as the soundest and most conservative banker on the
Pacific Coast. In fact, he was one of the very few remaining
much of the
bankers of the old school. He had lived through
California bonanza era. With other bankers he had seen the
city through the disastrous days of the earthquake and fire and
had participated in its magnificent recovery. He was beloved
and revered by the clients of the bank. It was said that he could
smell a bad investment before it came in the door, and that he
had a sixth sense to detect a souring financial picture, or business
venture, long before there was any surface indication of
trouble and always had the accounts of such concerns out of
the bank months before a financial crisis appeared. On the
other hand, where there was personal integrity, industry, and
a high sense of obligation, no one was more patient in helping
a debtor to work out his financial salvation. It was this latter
quality in Mr. Fagan that not only made him a great banker,