The evening world. Newspaper, February 11, 1903, Page 7

_ _ NEWS OF THE BUSINESS WORLD. _ AGED RIVAL TO RUSSELL SAGE DOES NOT FEAR WALL STREET 1 + (Edward B. Wesley, Over Ninety, Tells the Story of His Busy Life, from Time When He Saved $1,000 Out of a Salary of $8 a Month Until Now, and Hopes to Live to a Hundred. Russell Sage, who has celebrated his eighty-ninth Mirthday, is often spoken of as the veteran financier, ‘ut Mr. Sage is four years the junior in age and almost quarter of a century younger In experience as a trader {tm the stock market of this city than Mr. Edward B \Wesley, who can justly be called the dean of Americu's |gpeculators and who, despite his burden of more than ‘four score and ten years, is still active in the pursuits he began when New York was but a primitive city. Ploture to yourself a man six feet tall, broad-shoul- @sred, of large, almost massive frame, large head, big features, in which a square jaw and large, full mouth give prominent evidence of firmness and stubbornness of purpose; two bright blue eyes, which despite the ‘heavy drooping eyebrows flash and twinkle with vivid clearness, and you begin to see Edward B. Wesley as he is to-day. Even the span of almost century has failed to stoop his giant form, and, though he is a victim to Oocasional tortures of rheumatism, he still walks with much of the youthful spring that made him remarkable for his vigor in his younger days. Five days in the week, except in inclement weather, Mr. Wesley can be seen striding along Wall street, walking on the floor of the xchange or following closely the market reports ia the office of Van Slalck & Co., at No. 7 Wall street. There is none of the drawl, the halt or the gibber of ®enility in his voice. It is still forceful and penetrating. “When did I begin speculating?” he muses, rubbing together his large. sinewy hands. “Let me see, Yes, eighty-four years ago. I was then a lad of nine, living with my mother and younser brothers and sisters in the Httle town of Lesler, in Worcester County, Massa- chusetts. “But I was telling you about my first speculation.” Here a bright smile lighted up the big, strong face as he held his hands out toward the open fireplace ablaze with hewn logs. “My first speculation was in pins. 1 was nine years old and had pretty well mastered simple arith- metic, One day in the village I heard some men speaking of a lottery. I immediately decided that I would have Men 3d Avenu EDWARD B. WESLEY. — | steamboat Jefferson, a small side-wheeler, but then the! queen of the Hudson, was about to sail. 1 worked my | way to Albany, and finally managed to get employment | as office boy in the office of the steamboat company. There were many of New York's distinguished men In that company, among them John Mason, who founded the Chemical National Bank, and Michael Van Buren, who built the first block of stone houses on Bleecker street. Young Roc! BLOOMINGDALE BROS., LEATHER STOCK MARKET FACTOR Be Running a Pool in the Issue and the Price Keeps Three Clothing Bargains! Every garment offered in this special sale has sold for much more money than the prices quoted here. These special figures are made in order to quickly reduce Winter stocks. Man's Suits & Overcoats.| Boys’ Suits & Overcoats. This special will be sure to crowd our clothing section be-| Nel a) yond its capacity if men of rials; in sizes from 7 to ty New York understand the great values in these lots. There is choice of Untinished Worsted, Scotch Homespuns, All Weaves of Cheviot: Made of stylish mate- 15 years; stand-bys for | wear; smart in looks and jneat and shapely to the Meltons, aud Cassimeres at $8.50 $195 ousers To-Morrow at $1.79 M4 Floor, 0th St. Bectlon ! ’S $3 Tr BLOOMINGDALE BROS., 3d Avenue, 59th and 60th Streets. ¢, 59th and Goth Streets. put in walking trim. kefeller Supposed to their days piled up on tables. Here’s that they may see the $5, $4 @ $3.50 TROU REDUCED TO a lottery of my own, I made a hundred or more tickets} “From the Albany office I was advanced to a posttion| Going Up. ren out of coarse paper. I offered a prize of a shilling and| 1" the New York office on Dey street at $8 a month, I| = S$ 75 wold fhe tickets for twenty-five pins each. Now, pins in| 80t my meals on the steamboats when they were in those days were pretty expensive. You had to pay a| dock. GENERAL ELECTRIC GAINS. e “It was not long, however, before I could save ont of my small salary, and began in my spare time to | sveculate. The reason I could save was that I never drank, smoked or went out with the other young men in the office. My first speculation in New York was In fish. I kept a’ close watch on the outside market, and when fish was cheap in New York and dear in Albany 1 would buy and send it up on our steamboat. After that | I speculated in butter, eggs vegetables, and in fact every- | thing the market showed me there was a chance to make a profit out of, and in a short time I had made nearly a thousand dollars. “I was still getting only $8 a month, however, and| wanted to become a bookkeeper. I heard of a man who, gave lessons in bookkeeping ata dollara lesson. 1 hesi- tated a long time before I decided to pay so much money, but finally I took twenty-five lessons.” One Romance in His Life. The old man then told how he began trading in notes and money, which first brought him in contact with Robert Sinclair, who built the Sinclair House, then cashier of the Chemical National Bank. He told, chuck- ling, of how interested he had been in a list printed in a New York paper of distinguished New York mer- ; chants worth $100,000. He told of going to Buffalo and becoming interested in a bank there. He told of his one romance, which began in Buffalo. He told of how he became a member of a banking company in New York ten years before Russell Sage left Troy. He told of rings and cliques of stock traders in which he operated penny for ten or twelve. I sold all my tickets to boys In the neighborhood who had robbed their mothers’ pin- cushions, and after a drawing and the award of the sbilling I had a clear profit of about a dollar, Early Trading as a Boy. “A short time after that I began trading in molusses candy. I bought my own molasses and learned to make the candy myself. 1 used to make a few shillings in that way, and I can teil you a shilling was a good deal of money in those days. “When I was about thirteen years old I was ap- Prenticed out to a carpenter, Then I learned what it was to work hard. \‘Thoush I was only a stripling I did as much work as the boss. “One day this carpenter spoke very harshly to me, and I made up my mind that I would leave him. Started Fortune with $2. “A short time before Lafayette had passed through | the village and I had persuaded an old lady neighbor of the carpenter to make me some cakes and birch beer. I sold these to the crowd In the village which had col-} lected to see the Frenchman, and I made a profit of niore than two dollars. I was so busy selling my cakes and beer that I barely gave Lafayette a look. # “With only these two dollars and the clothes on my! back I set out for New York. But I started out in the) wrong direction, I had no more idea where New York) was than I had of the North Pole. I got abont twenty} miles from home when I met a farmer who offered me| This was so {n the st by a fraction: impending go! desire of flvo anticipation Later on the tinued to adv: noon, than one-half aggregate. obtained at 2 carried over would be no fact. the “sti viewed with leaders in the conclusion of of the Stan Whitney cones ‘nigh as 200 The Leather going to run a chance to work on his farm at $9 a month, I worked ; before Commodore Vanderbilt ot OM Gould were heard | Leather | for him for eight months and he gave me $40. 1 had not | f 0 the exchanges. He told of how he and George) ‘ine radiway Jones and eHnry J. Raymond had founded the New York|#tfens and enny in those eight months. I went home Raat phe penny ae ae ‘Times over fifty years ago. ] again and gave all that money to my mother, and she There was men long dead with whom he dealt on the Exchange, He spoke of his interests’in many enterprises which he | is still personally attending to without so much as a secretary to help him, the finest hostelry in New Trinity churchyard. gone to Buffalo, York and almost adjoined The proprietor told me my nele had He was very kind to me, however, and Ac, op. & 8. op. & 8, & Ono iio Rayia 7 Worked for Salary of $8 a Month. “I went down to the foot of Dey street and until lately, when the rheumatism began to bother | % him, he has never had a sick day in his life. WALL STREET CHAT where the| SHIPPING NEWS, the! directors wil deta'le meet this week to area, 1 Ruperintendeat of abe igaed his position. A ALMANAC FOR w d- DAY. of the a spbridtendent Sun ines. TOY Nun mete. 5.29/Moon ieee, — 8 Hilnois, who hi THE TLDBs | esient Carpeni High Low Water, ; essor.” Mr. Crapo AMM AM TM! | Kosh » ppenenieliy te th the Sagivaw Coal Conpanz, Sandy Hook 15,45 Mi | sourhem Pack Tisacean : 4 " 106 144! Souhern Ratlwe i Tapmeaae Mere Hell 235 4.16 | xonthera Koakum, . MEW Wonk, ol te i hola pany he world. Louie & ‘an interest she area This, It = ARRIVED. | | | | | ie but a preliminary’ sep to. the x iis @ fan” Francisco nia Pe from Paris, Texas, through East Texas, n Pa ‘another to the Gulf at Ho 4 omued 4 West oy obe Ine to Housion and Babine Pass. ane iful residence at No. | ‘bar President of the Bales Sleei Corporation, will, i le said, home from abroad about April 1 of the Philadelphia m as for the Market wireet io 1 Parson, INCOMING STHAMBHIPS DUE 0-Day Georre J. Gould is planning to bring ali of |! the roads ow under hie control An\o one miganiie | in to e. Hull Deth. Prine the Hult Ame: Aisin Coujy i); Charies A the Morton True Copan of Cornell, ‘ Dundee O m'dele Cleariog Mo ‘Duncan Sierling bas taken the place of his Nef domi ph Me Bierlinig, e8 Boor repreaeuia\ ive OUTOOING STRAMSHIPS Ps Rogers & Gould SMILED TO-DAY. ir Fienton, | was at slightly higher figures, followed and on very moderate transactions con- ‘The total transactions were not more Monetary conditions confessedly easy and call money was known during the forenoon that th ferent on that point. and moderate ex- portation of the yellow metal would be General Electric had an advance of 41-2 points on the theory that young Mr. mon advanced 3-4 an higher, eins over yesterday's clbsing. RESERVE RUL trust the banks of Pasta ore omewhat of an uneventful ock market. ‘The opening al reactton on reports of d exporte and on «a natural r traders.to “even up” tn of to-morrow's holiday. market became stronger BLOOMINGDALE BROS., 3d Avenue, 59th and 60th Streets. Several Hundred Pairs of TROUSERS. After all, trousers weren’t meant to spend sunshine. SERS Better get in soon if you expect a five- dollar pair at $2.75. WM.VOGEL & BROADWAY SON, HOUSTON ST. ance throughout the after- the recent :@ rage inthe POLICE AFTER MORAN FORCER 1-2 per cent., with the un- portant change derstanding that the loans would be tations ware as until Monday. It becam, gold exports, In point of reet" ts becoming tndit- Signatures on Bogus Bills Pre- i sented at London Bank Ex-| cellent Imitations of the Big! sm Financier’s Writing. composure ‘by banks and stock market. reported successf a deal for the ourchase ley Electric Company, « ern, ‘There were sales as OTHER CASES SUSPECTED. Jesuee were active on the Rockefeller ts @ pool in that property. pre- LONDON, Feb. 11—Inquiries at the Morgan banking house here to-day con- firmed the main points of the story printed by the Datly Chronicle to the effect that Mila purporting to have been aligned by J. Plerpont Morgan in pay- trom jaeues Were in the main making fractional another postponement of In the swearwhile he cabled tw his ern appears to Ienpont Mo ture from M 1 small way ranait onsects, ‘The police i elped me get a boarding place on New street, wher recta ‘ are 4 tigating the matter ‘ help Ohh ee FDI 4 Street, where) “when asked how he accounted for hia marvellous| che & Oso Le Mnenan thas tat that lakaian ed to-day the Stock Exchange building is now, I paid $2 a week Gy Wout Ive fi rica have been divposed rpool ait a eee ‘| vigor In his old age he replied simply that he had led a |¢ Wem, Bovis extensive fonger axe beer dim 4 and got very good board, too, My first employment in} & 8 Paul of in London. ares are pro: New York was in tho Old Tavern, but as 1 could not! “(02 and simple ilfe. Able tn the daya of hie early |penve & te G.... age yy ee BT Sea * Keep awake after 9 o'clock and the tavern didn't open| “eles to be happy and contented upon frugal fare : Pe RA SBE he ! : ; 4 1 without any desire to indige in luxuries, he had "aa until noon I gaye it vp and decided to go to Albany, ane ’ i F i F F R "any. | continued to live plainly in the days of his prosperity, MAY SELL BAY STATE GAS. nators but found theli Justice Truax Dissolvyen the Inm-| sorbed that Ja Junction Granted by Justice Davia Justice Truax to-day dissolved the] had selling ord injunction granted yesterday by Haver ¢) Davis to Jacob Hand as a a he apanittes to slop the sale of 15,00 sha to 9.29 siook of the Bay Siate bid; May capil Compa Company, The nal Dr @ had been adjourned until to by the Mercantile i ~ * te Ootober, da A bond for $6.0" In to be put up by the M Ule Trost Company Trust) Company yew YERKES HEADS TRAMWAY, Magnate Now Chairman of United 7-8 Cor Londo —— E ADOPTED. eT Aetion on Compantes, endian Ne abit in th 9 toe D act alle di ’ ¥. pasab jhe Aeeerliod Were une wadBe retui h come as n surprise to Wall street. well known in the railway and financial world that Northweat rally at Liverpool covered thelr pales March 18 au ec The Wheat Mark The whoat market opened about steady SS to WIed, J ow to-d: fo! ‘The initial quo- be now doing. ee The Cotton Market. ‘The loca) cotton market opened un- to 4 points lower, With morning to prevent any The contingent repre Ingland interems wae a Waa also the bull clique sold for short account r offerings #0 well ab- ter, on evidences of a they retreated and Commission houses ers from outside parties he advance more than a sent conditions. prices were: Mebruary, $81 to 9.82: April to 9.89; June, 9.96 t $19: August, $48 Lo to 8.26. James Gifford + with trading entirely local Gorn etart- Omp ed firm and May gotd up 1-8 here and stood for other stockholders, 14 1" Chicago on first aules. After vhe Lynde Stetson appeared for OK ete Was coistderaiie unlowd- Jant stockholders, and wheat that caused a drop ¢rom ts Wlward Pierson for thy Mer Hay anitie Deshi prices we 1-40 Jul Gorn #1 May 4 Wheat nig prives Wary Tits 10 Th Ma 5 “8 May, 81 6-8 wives were: Wheat July, 4 14 bid 453-5 offered; 1-4 bid. idend. American vidend of siock of the at, quarterly une, Sep: of Mareh. Fas) vembls: and December of the current > VOOR, PRICES HOLD ON THE CURB. Market Show no Important Changes, ‘The outside market was without tm- ott ot oe & Fa TO BENEFIT STOCKHOLDERS. Unioago-Northwestern Capital crease Means Better Sharing. ‘The action of the Board of Directors of Chicago & Northwestern in {ncreas- ing the capital stock of the company {964,000,000 9 $10,000,090 does not his has enormous - ‘ the annouticement of the terms of the - (reasury aasetn, enough acoording to heeded it mighty badly. With a wonderful clearness of memory this old man|Roc Island deal with ‘Union Pucific, |ment for purchases of plotures and bric- (Treasury aanelm, enoueh cool tt «i 5 ' 5 eit | Who has had almost a century crowded into his life} 2halrman Reid, of the Rock sland | a-brao had been returned here with an | coupany to wipe out the entire jod Some time after that I made up my mind that Board of Direstons, salied for Europe |intimation that the signatures were| indebtedness and still leave a lange eur- ‘would come to New York, and in the winter of 1825 1| Ctlled to mind vividly the dim shadows of the past,|i-duy witn his family torearlea plus. The movemont to tnoreame the started out with $10 in my pocket and a lite bundie of | "e#¢hing back to the days of the infancy of the Republic, ‘Pwo tollle for $87,600 each, purporting | euiiel monk le generally sewarded as 6 . Pury when New York was but an overgrown village, He spoke ‘The Closing Quotations, to be drawn by M. de Bosdart with J.|to participate more iiberally In the stockings and underclothes my grandmother hed made ‘ ‘ A ieese "| Avaliable resources of the cotmpany. for me. It took me nearly two weeks to get to New York,| 0 Ms children, who, with one exception, the youngest, fn, were ce openings Misuet, lowen'| Plorpont Morgan's aoceplamce, were pre-| «vaulabe resources, of the company. % ‘ ’ a % y) e oh (PERae 8 Hips, Law sented for payment here by @ London] compantes do not like to have their divi- “When | arrived in New York I went to the City ol{te!| ven fiae ae ny pees ef sree ae a aharr ad Rit ie BM i” ctons were aroused, and he withheld] fore the custom. to i dividend 1 ° 7: y Hotel we (eey en ERTS i eds of distinguished | cin’ Sicar yay ment } the following da by nding Uhe capitalization, tosee if! could findanuncle. The City Hotel was then} jae duner. vayment until the fi wins day sate say eepans fe aed, mavallestion, Cc 15 15 Ata Price Reduction So Great that a Clean |f Velvets, Peau de Soies and Cloths, and are marked to go} on sale to-morrow morning at Velvet Coats Silk Coats. wear presenting in the aggregate an unlimited assortment, and at the prices quote ad oa usual values. Hemmed Sheets and Pillow Cases, Cases, 45-36, 300 || Sixth Avenue, 20th to 21st Street. cables disappointing to bulls | and liberal estimates for port receipts, Yas, nevertheless, enough support CAND Valentine to navi shewaliy tr exhausted, will AV COUNTER GOODs. iy rdiy necessary to cal they having become a n Jd Thursday, February 12 The Entire Remainder of our Women’s Velvet, Silk and Cloth Coats—secona roc. Sweep will be immediately effected. Less Than Half Regular. Prices Blouse shapes, lined with all Silk Satin handsomely trimmed with Novelty 5 $14.75 value $29.50; Thursday...cccesese....cescrseecsee taht 730 Thundiyescereecrens reece | $16.50 1 $29.75 Duchesse, ilk Braids, Llegant Velvet Long Coats, lined with satins, hand- somely trimmed, value $60.00; Thursday........ Peau de Soie Coats, lined with white satins, valre $40.00; Thursday.. sone Peau de Soie Long Coats, lined with satin, suitable for day or evening wear, value $55.00; Thursday. Peau de Soie Long Coats, copies of imported gar- mentsin very elegant designs, value $60.00; Thursday loth Coats Long Cloth Coats of fine imported Kersey Cloths, li with satins, value $17.50; THUAN Gee ieee eee + $7.98. Three-quarter length Cloth Coats, of fine Ch Kerveys, lined with satins, value $25.00; Thussdon a $ $11.98 Long Coats of very fine quality Broadcloth, hand: i} trimmed with silk braids and lined with satin, value $19.75 $37.50 to $45.00; Thursday. vonssensereeee hy $19.75 1 $25.00 1 $29.75 Also Two Hundred Women’s ' Dress and Walking Suits, in Mixtures, Cheviots, etc. Thursday, $7.98, Reduced from $18, $20, $22 and $25.00, Silk Department. (First Floor.) 3,000 yards Satin Liberty, in blue and white and black and white, in all the wanted sizes of polka dots—popular for Shirt Waist Dresses—a splendid cloth and, at the price quoted, a most exceptional value. Thursday, 59c. Yara. Women’s Muslin Undergarments’ (Second Floor.) We offer for to-morrow Three Lots of Muslin Under= representing splendid an z LOT 1.—Consists of Women’s Night Gowns, ,P oh Led Sameer heritbitihi seeanctater elt t “ac! stitching, all sizes and a great variety of shapes, cachee.se0 1T 2.—Women'’s Walking Skirts, Gowns, Chemis: tone and Short Skirts, all sizes in assortment of styles and trimmings, were 96c. and $1.15; at, cach........ LOT 3.—All our Gowns and Decollete Chemises and cassock, long, short and elbow sleeves), Petticoats, Cor- fet Covers, Drawers and Short Skirts, all beautifully trim- med with lace, ribbon and embroidery, space and cluster tucking, were $1.59 to $1.98 cach; at, each, {asc | mf at Specially Low Prices. 4 (First Floor—Rear.) doz. Hemstitched Pillow | Lot of UticaFiemm: d value for| slightly imperfect on selvage, h, special at| special to elope, at j 57c., 62c. and 70c. each. 0 c. and 20c. eac 12\4c. and 15c, each. each of our patron ted there Valeut novelty in the . nang beginning PrGKy of this Fi NTINE WITH EACH PURCHASE. inctosed 1p an envelope ready for mailing. AT 25c. PER Variety daily chang! ~80 or more kinds for your your attention to our Regular Specials Sold Only on Wednesdays, Thursdays, Frid) Saturdays, sity to our many friends—but here they are: SPECIALS (In 1 LB. BOxES ALE n) friend: Assorted Chocolates 25c. Assorted Bon Bons hocolate Chips.» 260, | Caramelseree- Chocolate Gream Mints 25c, | Marshmallows... Chocolate Nougats 30c. | Fig Wafers-+++ +» Chocolate Marshmaliows 250, | Chocolate Ice Cream Dropssa+ree Old Fashioned Chocolates... 3Re Molasses Blow Candy scseseesen Chocolate Roasted Peanuts... 25c, | Peanut Brittles. 16 OZ, NET WEIGHT. 31 ALL BOXES PACKED