Johnstown weekly Democrat. (Johnstown, Cambria County, Pa.) 1889-1916, 1890-06-20
A DEALER IN SMALL COIN
A Unique Business That Amounts to Mill
ions of Dollars Every Year.

A Unique Business That Amounts to Mill
ions of Dollars Every Year.
Every working day, cloud or sunshine,
during banking hours, faded wagon Of
slight frame and leather covering, drawn
by Rosinante with meek visage and
the cut of worker, may be seen stand
ing few minutes at time in front of
some one or another of the many banks
that abound in the neighborhood of City
Hall. From this wagon descends man
with an active tread and dark hair gray
ing under the rains of probably fifty
springs. In his hand he holds canvas
bag of large size and evidently of heavy
weight, which he draws from the back
of the wagon, and with which he enters
a nearby bank. If he does not take a
bag into the bank the process is reversed
and he emerges with a large bag of
money, deposits it in the wagon and
drives off rapidly.
Few are better known to the opulent
business men of the city and less known
to the public at large than Theodore V.
Smalley. Mr.. Smalley's occupation is
that of a broker, title borne by scores
of wealthy and worthy citizens, resi-
dents of the city, and not sufficient in
itself to distinguish its bearers avoca-
ton in life as in any way remarkable.
But the nature of the brokerage business
that Mr.. Smalley has transacted for over
the last twenty years is unique. No one
else in this city is IN the same sense a
bro1ror 6,,a y. f,,,G ffeossS .c55,fSsSE 8xsa
in New York, which city, however, Mr..
Smalley includes to certain extent in
his field of operations.
He is money broker, is Mr.. Smalley.
To buying and selling money of the low
est denomination he devotes himself with
singleness of purpose. Promising build
ing lots are no temptation to him. He
is Indifferent to rises and falls in railway
shares, and as innocent in puts and calls
as frolicsome kid of drawing room eti-
guette. Nay, it is even rumored that he
cares not for even the elysium delights
Gof the owanus canal.
Mr.. Snalley buys pennies, nickels,
dimes, quarters, half dollars and dollars
from churches, banks and newspaper Of
fees and places of amusement, and sells
to big stores, factories, pawn offices,
banks and large business houses. A
profit of l per cent. in the dollar on
pennies satisfies him, as will seventy-fve
cents profit on 81 ,OOOin silver. Not often,
he says, does he get more. 1t is in the
magnitude of his transactions and not on
the percentage that he finds profit. In
year he handles over $3,000,000. He is
punctuality personifed, and many are the
large stores in which the clerks time the
hour by his daily arrival, laden with
strong bags with pennies and silver.
Formerly" said Mr.. Smalley with a
sigh, to the writer, 1.-The profits were
much greater. That was when trade
dollars were in vogue, but now the bust
ness is down very fine and it is not on
account of competition"
"Are you not afraid of being robbed?"
II was robbed once, but don't think
Twill be again. Around the banks rob-
bing is almost impossible. There is no
more secure place that know Of Officer
Kelly is vigilant officer. He has been
a long time on his beat and knows stran-
gers at sight and the character and pur-
pose of every loiterer."
1t was on the 7th of March, 1881, that
the sole robbery of which Mr. Smalley
was the victim occurred. He had pur-
chased early in the forenoon, and about
quarter of an hour previous to tho rob-
berry, several hundred dollars worth Of
small money at The Eagle office, and had
driven to st. Anne's church, on Front
street, near Gold. While waiting few
moments in the pastoral residence for the
Rev. Father McMeel a strange man took
advantage of his absence, jumped into
the wagon, and, driving off at a furious
gallop, escaped pursuit. The robbery
created a sensation at the time on account
of the audacious manner in which it was
effected. w. H. Morris, whose sobriquet
is Country Conklin," was arrested upon
suspicion, tried and acquitted. The
money amounted to $S27, not cent of
which Mr.. Smalley ecovered.-Brook-
lyn Eagle.