The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-11-22
THE lGRLY LIFE OF JAY COOKE.

AneIing-His First Entrance into Philndei-
phiR- short Stay aud Return Home -
Essays n Second Visit the Invitation OF ~ ~
Leading Banker commencement Ther S ,sr ~
Of his Financial Career-Briet Sketon % r.y
Brothers 81 The Misrcpresenth"%on % ~, J,in,
Cooke and the Unjust Prelndice ,,i,cr ~ and
Fxnmincd-Hfs Reputation ns bth'e.i, . - -.
how he made his NIOney-His C""F"o'0i W.
BenevOlence, &cs -
The following ekech Of the life OF the great Anerl-
ricon bankef Is nom the New York HeTdta oil yestel-
day. - ,,,, A.. ,.
ratve of jay Cookies early career we ma mm' alter
returning from st. Louis, at the age OF hiteen, attend
inc aesduousy to school, and seeking to acquire pro-
0riencv I'm those branches Of education which he
fopnd by A few years experience most neediul
IN the nractca business relations of life The school
was one of much excellence for Western village to
posFess and is looked back 70 by those who were its
puerile patrons with sentiment Of grateful recol-
lection. In the comparatively primitive time when
IL existed the aim of education was of simple and
practical character. Reading, writing and arithmetic
constituted the leading branches Of study to which
the mind Of the rising generation was directed. II
has been already mentioned that arithmetic figures
in any FORM possessed peculiar charm for the intel
lect of young Cooke. Various anecdotes arc told of
his ek, not only in enumeration but in working out
those complex problems in compound interest and
decimal fractions which, TO the fancy of most boys
are bore and even a terror.
The teacher occasion submitted to the class
problem for solution which none of the pupils could
gTapple with successfully. He proceeded with piece
of chalk to demonstrate the way of solving the diff
Guilty. and was doing for a while in satisfactory
manuer, when suddenly he found himself involved in
certain premises thai Inevitably led to wrong con
clusiOn. In the meantime it observed that young
Cooke had been all along studying the sum proposed
ana watching the teachers process OF explaining y
himself in state of inextrcablo embarrassment, the
embryo fnancier had just worked out mentally the
correct rendering and, with flush of triumph, re-
lieved his Derpexed preceptor the dilemma in
which he was placed by pointing out where the error
Thenceforth both teacher and pupils came to enter
tain higher regard for the calculating forte OF young
Cooke and were prepared to him eclipse them all
in arthmetcal skill and proficiency In this expecta-
tion they experienced no disappointment, he gave
each day higher proof of that particular order of
genius which has placed him foremost in the none
tary world to-day. At this time his father, Mr. Eeu
theros Cooke, was prominent and influential mem
per OF congress- and while at home from his Ieglsla-
tive duties took great pains to cultivate in his sons
taste for solid and sensible reading. He had no diff
culg IN influencing their mental habits in TINS dlrecs
uon iOr they were naturally studOus, thoughtful and
for taking delight was fishing and of the piscatory
art he has all his life been enthusiastic follower
When not occupied with his studies he loved to steal
away by the lake shore with rudely fashioned rod and
line and stay for hours alone angling for bass pike
or Dlckerel. When boatwas available he accus-
toned, with one or two companions, to hoist SAIL and
rove away among the numerous islands on the lake
outside the bay. or these there is one called Gibra-
tar, behind which Perry the of battle awaited
the approach ofthe British fleet.
IL might have been dream of the uven lie anglers,
When nshng among the rocks of this picturesque sle
that one day he should come to claim it all his
from shore TO shore. If such dream were ever in
ouged In u mas been amply realized for he can claim
not alone the isle ITSELF but within its limits regal
summer residence. with its castellated tower over
looking the land and water all around. But he still
preserves the old taste for angling, and in storm or
sunshine, Jay Cooke, the fnancier and millionaire
during four or five weeks of the summer he spends
here leaves his sumptuous dwelling, overhowing with
Visitors szgeneray ministers Of the gospel, too poor
and starts out in the morning early with his rod and
line as of yore, and to the old favorite hooks among
the cliffs, where boy in other days he played the
fish would one day come to his net.
Mr. William G. Moorhead then largely Interested in
canal and railroad enterprises, and residing in Phila
had formerly resided. He was struck by the pro-
hcienCyi and completeness Jay exhibited in those
branches of education adapted to mercantile pursuits
and invited him to become bOok-keeper in his Office
The invitation was embraced, and this marks Jay
Cookies first acquaintance with Philadelphia Mr.
Moorhead had several associates with him in his
business upon whom the stranger in q short time
made very favorable Impression In those days the
influx of young from the country, especially from
the far West to the large Eastern cities, not
10 great as now and those who showed any uncom-
mon traits of character became known, and had
their merit canvassed In his new sphere the subject
Of this sketch addressed himself to the task of
tanning his reputation for energy, integrity and man
Liners, for he was asute enough to know that such
qualities make more lasting and favorable impress
sion among business men Than the most brilliant ac-
comphthments, and as the sequel shows, be was cor
rect in his calculation
he learned good deal about the nature of stocks and
finance, his brother-in-law's concern dissolved
Consul 10 Valparaiso. Jay returned to his home in
Sandusky, and again fairly started in his studies
when his father received letter from Mr. E. w.
Clark, of the leading banking firm of E. w. Clark e.
Co., of Philadelphia asking permission to take Jay,
whose character he had heard spoken of very COM
mendably, into his establishment, and afford him
that which he had the greatest ambition to acquire
thorough knowledge of banking. This offer
wholly unexpected on the part Of the youth of his
friends and though his father who was then in indie
pendent circumstances, might have felt little reuc-
tant at first to part with his son, he saw reflection
that such an opportunity seldom presented ITSELF and
knowing that the business was exactly what suited
the bent Of Jays mind, he decided to send him. in an
swer 10 the request.
This event marks the turning point in his fortune
Had he remained in Sandusky, he might have pro-
baby achieved by this time celebrity in its local
nails, together with moderate independence; but to
have his name linked for all time with the financial
issues Oh the great struggle and 10 accumulate su-
ClenL fortune to secure every temporal ENJOYMENT
Was contamination with which more aspiring men
might have been well content to abide. shall here
allude briefly TO the history of his brothers. as illus
Vored family.
>, Henry D. Cooke is graduate of several colleges.
ne ls the literary mind Of the family along with being
no mean adept In financial science. In connection
WIN his brOther-in-law, Mr. MoOrhead he accumu-
Aa,eu ,colsderaDle means in California during the
PIVsAehee OF the gold epidemic. He returned here
ns nAuVe place afterwards, and purchased the
hewhpaPer an organ Of the Republican party.
i .aie connected with this journal he became ac-
4t"ihtSo with Mr.. Chase the present Chief Justice
= atiqS hhie Mr.. Chase contemplated running for
t tio1elnof oi ONO, and means towards thai end
ons ,Srifer w HpSn @ Cooke, who was tolerably vigOr-
ogs Wle 10 fehnquish the Reqisteg and take CHARGE
ol tle NOium9hs JouradL In this position he dId
BoOu service LOT Chase and in other resnects co,r,
mehaee bmseI 10 the gratitude of Thai geTtIeDSan
committed TO him the manageyo s Jay Cooke
Washington, and thus far he has had @ ill9 hVuse III