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 him.  A year later he was elected president of the bank, a position which he still holds, being in point of service the oldest bank president in New York.  Upon questions of banking and finance, his views are listened to with great respect by his associates, who have proof of their soundness in the splendid success of the institution over which he presides; and it may be truly said that there are few men in the city who enjoy so large a share of the public confidence as is bestowed upon him.

As a citizen, he is public-spirited and liberal.  Some years ago, he held the office of city chamberlain, and during his administration of it a difficulty arose in regard to paying the police force their wages.  Knowing that the men and their families would suffer if the money were not promptly paid them, Mr. Stout generously advanced the necessary sum from his private means, looking to the city to reimburse him.  In grateful acknowledgment of this practical sympathy for them, the force presented him with a handsome testimonial.  His fortune is immense, and is used liberally in behalf of the cause of the Christian religion.  His charities are said to be large, but one rarely hears of them, so quietly are they done.  He is married and has a family.