By 1865 he had moved into banking and specialized in selling municipal , state , and government bonds . Relying on his bank president father 's connections , his political contacts , and his own acumen , Yerkes gained a name for himself in the local financial and social world . However , while serving as a financial agent for the City of Philadelphia 's treasurer , Joseph Marcer , Yerkes risked public money in a large-scale stock speculation . This speculation ended calamitously when the Great Chicago Fire sparked a financial panic . Left insolvent and unable to make payment to the City of Philadelphia , Yerkes was convicted of larceny and sentenced to thirty-three months in Eastern State Penitentiary . In an attempt to remain out of prison , he attempted to blackmail two influential Pennsylvania politicians . The blackmail plan initially failed , however the damaging information on these politicians was eventually made public and political leaders including then-President Ulysses S. Grant feared that the revelations might harm their prospects in the upcoming elections . Yerkes was promised a pardon if he would deny the accusations he had made . He agreed to these terms and was released after serving seven months in prison
Great Chicago Fire
Great Chicago Fire
Charles Yerkes