While “lean” can have a negative meaning of “deficient in something useful”, it also has a positive meaning of “characterized by economy (as of style, expression, or operation)”. Think of a lean athlete who is all muscle and no fat, fit for purpose. I believe this is the connotation here. And reading the full passage backs this up, as the old man has a great number and variety of excellent memories.
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“My first afternoon in Denver I slept in Chad King's room … It was a hot high-plains afternoon in July. I would not have slept if it hadn't been for Chad King's father's invention. Chad King's father, a fine kind man, was in his seventies, old and feeble, thin and drawn-out, and telling stories with a slow, slow relish; good stories, too, about his boyhood on the North Dakota plains in the eighties … Later he became a country schoolteacher in the Oklahoma panhandle, and finally a businessman of many devices in Denver … He had invented a special air-conditioner … The result was perfect … Finally it was so cold I couldn't sleep, and I went downstairs. The old man asked me how his invention worked. I said it worked damned good, and I meant it within bounds. I liked the man. He was lean with memories. "I once made a spot remover that has since been copied by big firms in the East. I've been trying to collect on that for some years now. If I only had enough money to raise a decent lawyer… " But it was too late to raise a decent lawyer; and he sat in his house dejectedly.”
— “On the Road”, (abridged)
Jack Kerouac