Prior to election as mayor, Stone had served three terms as a city council member.

Stone was notorious for having allegedly embezzled money from his business partner Charles Hiram Burnett Sr. of Seattle.

Stone in fact removed the cash from their safe and money from the bank leaving Burnett with the duty of settling the firm's accounts payable.

The title to property owned by the firm, however, was turned over to Burnett.

Stone continued to be active in business and real estate before his death in 1906.