St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-15
E. F. Drake Tells of the First
Line Built in the
State.
His Success Due to Attention
to Business and a Reputa-
ton for Integrity.
Some Sound Advice to Young
Ideas Just Branching Out
for Themselves.

hand and establishing reputation" +.
+. Drake said yesterday, ''are in the
main the attributes to which owe my
success in life, and 1 would like to i'm
press these points upon young men just
starting the battle of life for themselves.
From the outset of my career | aimed to
establish credit among business peO-
pie so that no matter what | might ask
for, it would be cheerfully granted
without any questiOnings. During the
seventy-four years of my life, while not
a total abstinence man, | have been
temperate in my habits, both in eating
and drinking, and to-day l am as hale
and hearty as many men considerably
my juniors. To be sure, if l wanted
glass of wine or some stronger stimu-
liant, took it, but did not acquire
taste for spirits that would lead me to
neglect any undertaking in which my
interests were involved.
'sOhi0 is my native state, and l re-
manned there engaged in the practice of
the law until 1862, when, fOreseeing the
future of the West, | determined to
emigrate from Dayton and settle in st.
Paul. At that time there were but H.
600 people living here, and not foot of
railroad track could be found in the
state of Minnesota. brought the
FIRST LOCOMOTIVE TO ST. PAUL,
and became associated with a syndicate
of gentlemen in the construction of a
of st. Anthony, distance of ten miles.
That piece of railroad work, land single
track at that, cost as much to construct
in these days as hundred miles of dOu-
BILE track road would now, and there are
many who predicted all manner of dis
asters to the new enterprise and did not
believe that it could be made success.
But the gentlemen with whom was as
ISOLATED had confidence in me, and en-
deayored to faithfully carry out every
promise that made.
s'My real start in life may be said to
have begun twenty-six years ago, and
during this period l have continued to
hold the office of president, to which |
built. Afterwards, when railroads
| began to- girdle the Northwest,
branehed out more extensively and an
other venture in which l made sue
cess was the Sioux City IL St. Paul, now
a portion of the Wisconsin Central, and
which now extends to Omaha. Ere
quently at the meetings of the directors
it became my duty to impress upon
them the need of funds, and upon one
occasion | remember saying to them:
Gentlemen, [ want 100000 in cash be-
fore Saturday night Not question
was raised against the proposition and
the entire sum was in my hands for use
at the time indicated by me.
ssAnother good friend to me and the
Omaha road was Banker Seney, of New
York, before he became financially en-
barrassed. There was considerable talk
about the necessity for putting the road
through from st. Paul to Omaha, and |
went to New York to negotiate the sale
| of the bonds. Among others that | met
| on that trip was Mr.. Seney, and Incl
| dentally he inquired what progress /
was making, and was the new line likely
| to prove profitable one? My reply
was that was somewhat hampered in
obtaining ready money, from delay in
disposing of the bonds of the road, but
| that in my judgment there was no doubt
of the ultimate success of the project.
60 ahead, Mr.. Drake, the New Yorker
| said, and draw upon me for all the
money you may require. Your
WORD IS GOOD ENOUGH SECURITY
for me-" Six hundred thousand dollars
were checked out to me on account of
this road before Mr.. Seney received a
penny in return, but the investment
proved good one for him as | had pre-
dicted.
"And at this point want to say that
the Sioux City q ST. Paul railroad was
the only one built in this state on cash
basis, and not on promises to pay and
watered stock which forced SO many
other roads into bankruptcy. From its
beginning to the present the road has
always been good paying one, and it
has never been burdened with heavy
Indebtedness to eat up all its profits:
While receivers were being appointed
for other roads in this state and
proceedings in bankruptcy were
being instituted this road pursued the
even tenor of its way undeterred and
undismayed by clamor from rival cor
porations. But my business life has
not always been bed of roses by any
means, legislatures and newspapers
having
CONSPIRED TO DRAG ME- DOWN,
but unsuccessfully am happy to say.
/ always fought hard, for knew | was
in the right, and the idea of Shake
speare, "Thrice armed is he who hath
hisiquarrel just" has often been ex-
emplified in my career.
81 paid attention to business person
ally 40 LII 90 pOcoIOiOs anu IL uh uhih9
was going wrong would be pretty apt
to discover it promptly and apply
the remedy at the proper time.
During my life have been pretty in
timately associated with public men
from the time that l first read law with
the late Associate Justice Noah M.
Swayne, of the supreme court of the
United States, down to the Arthur adj
| ministration. was frequently brought
| in contact with such men as John G.
| Calhoun, John Randolph, of Roanoke;
Daniel Webster, Henry Clay, and dur
| ing the last year of President JacksOn's
administration / was his guest at the
White house, Travelling about the
country keeping their eyes open for OPP
portunities that may present cannot be
too strongly impressed upon the minds
| of young men, for, by this means, they
acquire that sharpness so indispensable
to all who aspire 10 become successful
man -