The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-05
MEN WHO SUCCEED.
Lessons OF Exparience and Statistics
Profits From transactions In Realty.

Lessons or Exp9rience and Stasistics-
Profits From transactions In Realty.
From the Philadelphia Pres.
Little in the great field covered by the
Sunday Press in Tho past six months has
excited the interest awakened by the
answers OF successful men in Philadelphia
to the questions addressed to them upon
the conditions ID success. The kind of
men who succeed and the chance of sue
cess arc embraced in the not less interest
ing inquiry just rnade and printed by Mr..
j. II. Walker, OF Worcester. Worcester
is quiet, conservative place Of steady life,
large capital and stable business. II Is a
place in which ode would be likely to as
sumo that the sons OF rich and successful
men would probably grow to fill the place,
wealth and work OF their fathers. But Mr..
Walker found that the sort OF men who
succeed are the new men.
In 1910 Worcester had thirty leading
manufacturers, Of whom twenty-eight be-
gan rs journeymen and two as sons of
manufacturers. OF seventy-five manufac-
turers in 1860, six only were sons OF man
OF l07 manufacturers in 1878, only fifteen.
The chance that the head OF q manufac-
turing business will be reached by the son
Of an owner in Worcester for forty years
has been pretty steadily about one in ten
Of the total chances OF going to the head.
As the sons OF manufacturers in Worcester
in 1910 could not have been, taking thirty
manufacturers as the number, per cent.
of the population, the chances OF success
for them was above thesavcrage, but not
80 far above as TO discourage young men
without this good fortune. The chance
that property will stay two generations in
one family seems also to DO about one in
ten In Worcester.
OF the thirty manufacturers In 1910,
fourteen OF whom died or retired with
property, only three in 1888 had left sons
with money; OF the seventy-iivo in 1850,
the sons Of only six survive now, and OF
l07 In 1860, eight only were represented
by sons In the business world OF Worces-
ter twenty-cight years later. The business
field at any given year is apt 10 look TO
young men ms II all the leading places were
iillcd by men whose sons were certain TO
enjoy the advantages OF wealth, and likely
TO take the places OF their fathers. But
there Is not over one chance in ten that
this will take place. aud scarcely this, that
wealth will be left by those who inherit
II. While Of those in business OH any
date, onc-fourth drop out in hvo years,
one-half In ten, and two.thirds in fifteen
years.
Nine places out OF ten thirty wears hence
are therefore open TO those who today have
nothing. What sort OF men will these be?
Out OF iiity-six leading business men in
Worcester In 1915, VI per cent. were
church members, 27per cent. church.gocrs
and IL per cent non.religious. The first
class remained in business an average OF
fourteen and half years, the next eleven
aud one-third years, aud the last five years,
the general average being twelve and a
half ycars, 80 that in Worcester il is liter
ally true OF the non-religious in business
that they "shall not live out half their
DAYS" OF l57 men in business in Wor-
cestcr in 1870, In the permanent lines OF
traffic, five out OF six were either church
members or church-gocrs, and at the end
of fifteen years, ia 1885, when sixty-two
had gone out OF business, the proportion
remained the same. Either the time is
not long enough ior fair average 'or re-
ligion Is n less important factor now than
forty years ago.
The facts sufficiently show, nj least for n
small city, how little inherited wealth acts
as a factor in success, how wide the field
Of success 10 the new man. aud how gen
orally II Is occupied by those In some way
| identlned with church life. The proper
tons, doubtless, vary elsewhere aud in q
place like Philadelphia Inherited wealth
is morc powerful iacior than in smaller
place. OF The thirty.iiye persons who re-
turned incomes OF over 500. 900 In 1864 in
this city, ninc-tenths are today represented
by descendants enjoying wealth, and two.
thirds Of these are In active business.
The proportion Is about the same in differ.
cnt classes down 10 $1,000, but in the
ranks from so, 200 TO $4,000 the gaps are
numerous after twcnty.iour years. In
great cities money Is lost with ~ much
npidiiy rs |, Is made. There Is no fiction
- grOundlcss n the one that the chances
are all gone. There was more money
made In the last fifteen years In real estate
than In the previous fifteen, and more In
that than Ia the fifteen before, and more
will be- made In the next fifteen than IN
the last. This j. true In every trade, aud
We venture 10 say that no, in one case ouI
Of ten will u be made by the sons Of those
having money now.