The Lake County star. [volume] (Chase, Mich.) 1873-current, 1876-03-16
A Successful Merchant.

Fifty years ago or more, says the New
York Sun, a lad named Agustus Hemen.
way was engaged as q shop boy in dry
goods store in Charlestown, Mass. His
extraordinary aptitude for business at
tracted the notice of Boston merchant,
who was heavily engaged in the South
American trade. He took the boy to
his counting house on Central Wharf,
Boston, and when the latter grew up to
manhood sent him to Valparaiso 20 look
after his large interest in that city. In
a short time the young man left his en-
ployer and struck out for himself This
South American trade was a compre-
hensive one. 1t embraced the buying of
all kinds of South American products,
hides, wool, copI er, ETC., sending them
to the United States, and bringing back
an assOrtmento of American manufactures.
The business established by Hemenwsy
advanced with great strides. The wealthy
English houses in Valparaiso, having
confidence in the remarkable ability Of
the young American, lent him their
credit. A singular feature in this mans
career was that he never gave note.
His business in few years had become
so great that he found it necessary to
return to Boston and establish a house
in that city. He sent his brother, Chas.
=. Hemenway, to South America to
manage tho house there, and, remaining
himself in Boston, enlarged his opera
tions until the management of them de-
manded every moment of his time. He
even built his own ships, and made ad-
ditional profit by carrying his own
goods. He owned sugar plantations in
/ Cuba, copper mines in South America,
and had business relations with the Bar
ings of such magnitude as to astonish
even that colossal house, and the whole
of this immense business he managed
himself.
Now comes a strange change in his
career. About fifteen years ago, one
morning he walked into the China In
surance Company's office, and expressed
some anxiety about payment which
he was obliged to make of compare
lively trifing amount, saying that he
was afraid he should not be able to meet
it. Mr.. Bacon, the President of the
company, was astonished, and after some
talk with Mr.. Hemenway, was convinced
that the latter was a little out of his
mind. Mr.. Hemenway himself came to
the same conclusion. He sent for his
lawyer, and ordered him to draw up a
power of attorney confiding the manage
ment of his business to his brother Fran
cis, and Mr.. Tileston, his brother-in-law,
of the firm of Spafford 4 Tileston. As
sociated with them was his chief
clerk, Mr.. Brown, also man of
great business capacity. Having done
this, he quietly retired to Litchfield,
Conn.,, and put himself in charge of an
eminent medical man who resides there.
In his house he remained for thirteen
years, watching and nursing his brain.
He had satisfied himself that without
perfect rest and quiet the machine so
terribly tried would give out, and the
result would be softeDing of the brain.
He passed his time in quiet amusement,
glanced at the newspapers, but would
never allow the word business to be
mentioned in his presence. During this
long period of seclusion the great civil
war broke out and was extinguished,
specie disappeared, new currency was
born, new channels of trade were opened,
and new methods of business were
evolved. The great whirlwind swept by
him unnoticed. To his friends Hemen-
way appeared to be hopelessly insane.
About eighteen months ago, like a
clap of thunder from clear sky, tele-
gram came to Charles Hemenway worded
thus: Bring on your trial balance
Augustus Hemenway." The brother
telegraphed to the physician. The an
swer came: "Patient perfectly recov-
ered." Mr.. Hemenway received his
brother and the trial balance and looked
over it. A few days afterward he walked
into his counting room on Lewis wharf,
hung up his hat on the accustomed peg
and sat down to business quietly. In
few days more he looked over the entire
transactions of the house for the past
thirteen years, and generally approved
of what had been done.
his business. 1t had been enormously
enlarged by his brother and Mr.. Brown.
To them he released the entire profits of
the thirteen years Now this ex-
traordinary man has resumed his some
time suspended business. He is now
engaged in some operation, which will,
no doubt, prove successful, as it is as
serted that during his long career he
never made business mistake. Mr..
Hemenway is probably the wealthiest
man in America. He owns great deal
Of property in New York city. Seeing
that the dry goods trade was drifting
over to Church street, he bought some
old houses there, and, pulling them down.
erected stores. He received as much for
one years rent as the ground and old
houses cost. During the whole long
selfimprisopment of this remarkable
man, his wife was an angel of mercy to
the poor, going about and visiting them,
and spending money to the extent of a
princes revenue. All this she did in
the most unostentatious manner, and as
secretly as if detection would bring dis
grace instead of honor.