From the December 13, 1888 edition of The Sun:

Little Freddy Fox is a veritable banker newsboy. He lives at the Newsboys’ Lodging House, and piles up the shekels as the days go by. He is only 14 years old, but he can draw his check for $200, and the superintendent of the lodging house says that Freddy has about $50 in the bank here. Besides this, he carries wealth about with him. Freddy began business when he was younger by selling newspapers as a common vendor. Every cent he could keep he put away in the bank at the Newsboys’ Lodging House, and when he had enough he started in business as a newspaper merchant and commission broker. He buys up a lot of papers and distributes them among the boys that sell for him on commission. When a newsboy in the house goes “broke” Freddy usually advances him enough to tide him over, and he has never been beaten out of anything. He lives pretty cheaply at the house, paying about 20 cents a day for his board and lodging, and no week passes that does not see the bank account of the embryo Wiman swell perceptibly. Freddy dresses in style on Sunday, and he does not pinch himself in the matter of creature comforts.