The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-29
COLLEGIANs IN FINANCE.
Graduates Who Have Succeeded in
Wall Street,


NEW YORK, April 2S.-The men of col
legiate education in Wall street are irritated
at attacks latterly made upon the educated
class in finance. college graduates are
not popular in Wall street just now as rail-
road Presidents" said one critic. 1.-THE
experiences of the Chicago, Burlington and
Quincy railroad are enough for me-"
1t happens that Charles Z. Perkins, the
President of the Chicago, Burlington and
Quincy, now we'll known throughout the
country by reason of its hard-tought bat
ties with its striking employees is not col
leglan. Thlrty-two years ago he was sta
ton agent out on the frontier. Then he be-
| came cashier, then assistant secretary.
then treasurer, then Vice President, and
finally President He was a private in the
| railroad army, and rose to be a general
commanding no small part of the force of
J 10000 mon who operate the railroads of this
/ country. He is 4S years old, of medium
stature, thick-set, of a swarthy complexion,
| has a square, resolute face and a bright,
keen eye, man of pleasant, even faScnat-
| ing address. He married a daughter of
| John Nj. Forbes, Chairman OF the Board of
| Directors, who made large fortune as
| shipbuilder, and once acted as Chairman of
the National Republican Convention. Mr..
| Perkins is endowed with a large share of
SciS6 anu lllfthSS tlS tOIlSClSe
and logical a statement as though he had
| graduated with the highest honors of a uni
versity.
He was born in Cincinnati in 1910, and
entered railroad service in his 10Th year, and
has been President of the 'Q' road since
| 1881. His friends say he never speculates
| in stocks. That is more than can be said of
some other railroad Officials of the West
| Mr. Perkins has fortune of about $780,
600, including ], 200 shares of Bell Telephone
| stock. Ii his administration is defective,
it is not because he is a college graduate.
Most of the directors of the %" road are
men of collegiate education They include
| VIM Endicott, who succeeded Henry Viii
lard as President of the Oregon Transconti-
mental Co. He is now leading merchant
of Boston. Sidney Bartlett and C. F.
| Hoyey are other members of the Board
| well known in the East. John NJ. Forbes
| is an able politician and an influential men,
Der of the Republican party. He was
practical enough to amass a large fortune
| Austin Corbin, who has met with signal
success as president of number of rail
roads, received a collegiate education
Chauncey NJ. Depew, president of the New
| York Central, though not great tinancier,
is shrewd enough TO follow a safe, conserva-
tive course. S. V. White, who has amassed
a fortune in Wall Street, is a graduate of
an eastern college.
Charles Francis Adams, president of the
| Union Pacific, is graduate of Yale He has
strong, square features and shapely head.
In repose his face has look OF Puritan
austerity though he never allows Puritan
ism to interfere with the success of financial
prospects. He was born in 1S35-of course
the event could not have happened any
where else but in Boston-and did not enter
railroad life in an official capacity till 1854,
though he had some railroad experience as
| q 1hat~ Of ha ntr1Ca &c aiIr anI
Commission from 1869 to 1879, and as arbi-
traitor of the executive committee of the
| Trunk Lines In the railroad drama, how
ever, he was never Supernumerary; he
played no minor parts; he became a star act
or at once, in other words, president of the
Union Pacific as the first office on entering
railroad service.
Has Jay Gould, a man whose education
is self acquired made the best of railroad
presidents, is asked? How many ships of
finance has he not run on a lee shore.
guided by false beacons and awaited by
| wreckers eager for plunder9 Can the hero
of Missouri Pacific, Texas Pacific, Kansas
Pacific, Missouri, Kansas and Texas, Union
Pacific, Erie, Manhattan, and other wrecks
be termed a model railroad presidents
These are some questions which Wall street
colleglans, flushed with indignation, are
apt to ask when men of college education
are denounced as unpracic and untrust-
worthy. G. p. Huntington and Leland
Stanford are not collegians. Sam Sloan,
president of the Lackawanna road is man
of defective education and far behind the
times.
Hugh J. Jewett, collegian, was practi-
cal enough to make fortune as a railroad
| official. He was born at Deer Creek Mary
! land, and entered railroad service as a di-
rector in the Central Ohio in 1855; in two
years he was president of the road in 1869
he was president of the Little Miami, Col
umbus and Zenia road, and shortly after of
the Cincinnati and Muskingum Valley road
and little later vice president of the Pitts
| burgh, Cincinnati and st. Louis. In 1877
he was general counsel to the Pennsylvania
! road, and from 1874 to 1884 president of the
| Erie, at 800 900 a year. That was
very successful blending Of the class
les with matter of fact finance.
Hundreds of collegans make excellent
railroad directors. In the increasing COM
plexity of finance, as years advance, educa-
ton, the mind trained by systematic study,
will be more and more imperative. In the
( social, commercial and financial evolution
we are moving steadily onward from the
| simple to the complex, and an increasing
number of educated men are annually en-
tering the domain of finance and other fields
of activity.
Charles L. Colby, president of the Wis
consin Central, is graduate of Brown Uni
versity.
Stuyvesant Fish, Secretary Of State in
Grants administration. is president Of the
Illinois Central and graduate of Columbia
College. Albert Fink had a college educa-
| ton
Thousands of successful financiers and
merchants send their sons to college and
give their daughters the best education
that Vassar, Oberlin, Wellesley, Holyoke
Wells and other institutions can afford
Two Of Jay Gould's sons were educated at
Yale and Columbia. Leland Stanford is
founding university. SAM Sloan's son is
collegian. A college education doesn't
hurt man of sense.
OSCAR WILLoUGHBY RIGGs.