Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-04-28
Lack or Labor.

AACAC 40 Oil OAO odJ AAs53 IL ID OOIlCA W
be born lucky than rich.' We have lit
tie confidence i'll any luck that man
does not make for himself And mans
luck, so called, is often traceable TO some
act done. or to some point in his charac-
ter, that has been carefully cultivated,
not with reference to any particular
transaction but On general principles of
proper conduct and growth. When one
man succeeds by luck hundred fail.
Witness Wall Street transactions, or gam
blers anywhere is credited to luck
is often due to caution.
In conversation with man we'll known
in business circles il Boston, who is now
the possessor Of much worldly wealth.
every dollar of which he has made for
himself, ho said, 81 have never embark
ed in any enterprise thinking how much
profit | could make by it. My rule has
been to look out for the losses, and to
guard against them leaving the profits
entirely out of the calculation. Many
say profits cannot be made in any bus
mess without risk. 1 have tried to act
on different principal. My first inquiry
always has been, if put money into this
or that venture, can get it back again?
and if the answer seems doubtful / let it
alone. | have never been led into specu-
lation by the thought: there is but little
risk, and if successful the profit is great.
And have never lost in the end, on any
business venture have ever made.
A good reputation, which never comes
by luck, is to any business man long
step toward fortune. The man who is
considered honest by the people among
whom he resides, and who is known for
being prompt in his payments, has rep.
utation that will serve him for business
purposes. better than property serves one
who is tricky and uncertain.
Our attention having been called to the
fact that the stock Of the Insurance Com
panies of Hartfard sold for much abo?e
| their "book value'-that is the amount
that could be paid to shareholders from
the assets should the company discon.
tinue business at once-while that of the
best New York Companies can always be
bought considerably below book value
although the percentage of dividends
paid was about the same, we were curious
enough to inquire the reason.
We first asked President of a N. Y
company, who gave no further informa
ton than that all the Hartford stock was
wanted for investment by the people of
that city and its immediate vicinity, and
because it was favorite with them they
willingly paid high price. egave no
reason why it was favorite-afterward
we inquired of the agent for one Of the
Hartford companies located here. The
treason is plain he said, 1T is because
of the reputation for soundness and fair
dealing we have established throughout
the entire country. If our company
should to-day sustain sufficient loss tc
exhaust its entire capital in the payment
oil it, we could continue. Our reputation
is worth more than the entire capital OF
some companies"
But good reputation does not como
without being sought. 1t follows in the
wake of honesty, integrity, morality: its
foundation stones are right thoughts
which must come before actions of words
! and which control them
We do not hold that there are no in.
stances where fortune in its variou.
forms has not come to men without theil
seeking it. Many have stood in the way
of circumstances and have been benefited
by them, but what re would impress up
on the minds of our readers is that he
who waits for luck is usually disappoint
ed. He who would win must work.