Grand Rapids morning telegram., 1885-04-01
H. ]. yENETT'S RISE
FROM cHORs- -sCf TO MILLIONAIRE.
" here the Great Railroad Aagnats No.
BsEa as1 Ho~ Hs a2s AaAaSsa
~ Beessaae kich 4ad D1s-
aasaishs4.


present President 0f &c great IRE Acai
Nas bsfa. some hity-s4x years ago. Hs
was gsseF lad, aat aad poorer advantages.
lis dia ne caoE1s Ca q small fsTln o~asi
~ MS parents and devoted ths winter
eye8iuss ~ study. Among has fathers
ia1ite,4 library were few well tlambs.i
las 3D. H. Among them we're bl4ekstone's
Clfanaenraries, and young Js~ett poged
over fnen l1lll ths tallos-,liV = as Io~ Iu
AZ socket
= 49, Js~stg, ~ TIE ssverest economy
AL sith tie as s-anee of his father, ~as
saaslsd - enter b+rans college tie = as a
ciasslaaie a the marty p President, James
+ 4 Garfield, and a. school boys they passed
Aa4n5 plea aut days. soon after young
( ~ slt's gEaduatiOn be driltsd into Clsye-
laDL
1Asre were a few dollars in MS pocket
ami he ~as sally In neei Of employ laent.
hs vas finally engaged a. a clerk ami gen
eral ofice BOY TOR lawyer. tie received
the muniaeeA sam.of Silpsr ~e@k. La spare
ulOaaenIs he devoted his attention 70 his
+ employer library. Long after be had de-
? parted for hosns young JesssTt poured over
tAe dry ami musty volumes, and when a
lev years later be Developed leaning to-
ward politics be had the ammunition 10
suostanfias his position lie frequented
the town political meetings and soon WAS
F recognized a. careful aud intelligent
speaker.
Severe al years later he represented his
district Ia Congress. tie was a vigorous
supporter Of President Lincoln, but op-
posed President Johnson most bitterly.
hen Gener al Grant came in Mr.. Jewett
b came one Of his staunchest admirers and
80 continued until he recognized that poll
ties were an expensive venture.
Like ex-senator Conkling, be believed
his profession would be Vi greater mOne-
tary advantage, ami resigned his seat in
the House and sertled in New York he
opened a small office. but soon became
Known an asture railroad LAWYER. AT
one time he was associated with Hon.
Samuel J. 1ilden. tie attracted the no.
t.ce Of Hon John A. Dix and jim Fisk,
of the Erie Road. Mr.. DIX was then the
Pres dent Of tee roaI. When it became
necessary 20 place the roads in the hands
OF a receiver Mr.. Jewett was selected.
The history OF the Erie Railroad al
most from its inception presents a
chequered story OF alternating failure and
partial success, and although the road Oc-
cupies position OF almost national inn
portance, it has been, perhap :, more than
any other railroad property the peculiar
sport" Of stock jobbers, under whose
control it has several times unfortu-
nately been thrown, and its manage
ment gp 10 President Jewett's advent
" as byword and a reproach in railroad
circles OF the whole world. Such state
Oi affairs exists no longer in the Erie Rail-
road Owing 10 Mr.. Jewetts judicious,
honest and efficient management it las
made marvellous strides toward becoming
one Of the most profitable railroads, and
this has been due TO the management Of
Mr. Jewett.
Twice since its completion in 1851 has
the Erie Railroad, the nucleus of the pres
ent New York, Lake Erie & Western sys-
tenn, been placed in a Receivers hands
owing TO bad management and other
causes, the last occasion (ls75) being dis
tinguished by the apparently hopeless
condit on Of its finances and the serious
disadvantage the road labored under of
being the only broad gauge trunk line in
the country. Il was during the last re-
ownership, and while under the manage
iAt tAN " aAA+ oHWtAb rs IAtttlftf lLat the
Erie Road first promised 70 emerge tri-
umphanrly from its trouble, and al
ready in 1873, when II was sold under
foreclosure and shortly afterward reor-
gained under IFS present title with Mr..
Jswett as President, the improvement be-
gan - make itself apparent.
TIE first step toward placing the road on
rayin.- basis was the arrangement Of the
trees for broad or narrow gauge traffic.
ami this under Mr.. Jewett's management
has been accomplished without interfering
vi the bus siness Of the road. This was
followed by the extension of the tracks in
o. the immense coal, mineral and lumber
properties owned by the company in Penn
sylvania, and for this purpose the Brad
ford branch was constructed. The coal
AMI iron and lumber mined by and carried
by the Erie in this section alone has rem
dered an enormously profitable venture,
besides which the company has contracted
for the entire carrying trade OF the Penn
svlvania Coal Company's OUTPUT over the
new Erie & Wyoming Valley Railroad.
There have been many other improve
ments of the Erie's affairs and all OF them
have been c0nsummated under President
Jswett's management. Bs his judicious
course the business Of the road has been
Increased 70 almost an unprecedented ex-
tent while the track and equipment we're
never a. good as At the present time.
Mr. Jewett receives a salary Of So. .OO0
per snnum and has numerous outside ven.
tlures which net him an annual income OF
fully $4,000. IN addition. by his frugal
habits. be has accumulated one or two
bales n Erie second consol bonds.
Mr. Jewett's wealth j. estimated st sf0.
1n a0 Ills mansion a. NJ. 50 Madison
sveuue. in this city. i a bower of luxury
sn1 redaement.
NJ J-wstt is often heard 60 recall the
Oil DAYS when he was poor country boy.
hout dollar and ~ prospect 81 getting
one. Ia fact. it seems 20 be pleasure for
hin to speak II his early trials and
troubles Hs is singnisrlv modest and -
trlny IN his personal Affairs aud hss no
grester pleasure than taking his country
re 'at VS. around TIE city
For -he skniful nurs inz that Mr Jewett
ha1 given ro the Affairs ~ ths Erie Road
be wiB long he remembered in he 1nsnciaI
rr.rNf