The weekly tribune. [volume] (Great Falls, Mont.) 1891-1894, 1892-11-11

original fourGcIS Of the present great
banking house OF Drcycl. Morgan & Co
jasper L. Van Week has just celebrated
his eighty-tiT-t birthday. He vas born In
New York city sept. 8. 1911.
At the age Of sixteen he became a clerk
in the State bank at Newark, n. j., and,
after several years training entered the
Office Of Rufus y. Nevins. his uncle, at the
southwest corner of Wall and Williams
streets, New York.
The volume of business on Wall street
was at this time insignificant. Hardly one
of the exchange Officcs-as they were
callcd-had a dollar of capital. Nevins
had come from Middletown. Conn, and
was the correspondent of various Connect.
cut banks. In 1897 the banking and bro
kerage house Of Nevins, Townsend & co.
which had been founded by him. failed for
the miserable little sun of 5000.
After this Van Week worked for several
years in the banking houses of John p.
Smith d Co., and Houghton, Merritt *
90. About the year 1872 he started in the
banking business upon his own account
without a penny of capital. lie began buy.
ing uncurr1hU bank notes, borrowing the
sum of 5000 from day to day. He paid for
TINS accommodation seventy cents q daf.
and also agreed to give to the bankers the
uncurrcnt m0ne he purchased. His
method of conducting business wa unique.
The money borrowed from Drew, Robin.
son ~ Co. l." deposited in the pheniy
bank. lie would then draw his check for
the amount Of uncurrcnt or state bank
money purchased. To keep his bank ac-
count from being Cv"rdrawn, his clerk,
Frederick White, late of White. Morris {;
Co, would take the purchases of uncurrent
money promptly to Drew, Robinson & Co.
and receive payment therefor directly.
has ne was enabled to turn the $50
over and over again, and at five minutes 70
3 p. III. to make "A final deposit, draw his
check for 5000 on the bank and return the
loan.
About lS52 \. j. Dreyel, of Philadclphia,
offered TO put up S12j 900 against Van
Weeks capital of $4,000. The offer was
accepted ana Il cOp%artnerahip entered into
under the firm name of Van Week, Read
a. Drexel. This firm did II very large bust
ness. About twenty years ago Jasper Il.
Van Week retired from it, and has ever
since lived the life of a country gentleman.
The house has since become famous as
DreXel, Morgan 81 Co.
No one who sees Mr.. Van Week today
would take him for an o~ctogenarian. He
is the oldest Of the five patriarchs of Wall
street yet living who began their careers
as clerks in 1882.
Nathaniel 5. Barry is the oldest living
ex-governor in the United States. II his
life shall be spared until Sept. |, 1876, he
VIII have rounded out a full century. Gov
ernor Barry was born in Bath, Me-, and
was left an orphan when he was but six
years old. Kind hearted upOnle cared for
him until he was about thirteen, when he
set out for himself, locating finally in Bath,
N. H., where he apprenticed himself to a
tanner and %currier, which trade he followed
for many years after he had become Il jour
ney,nan.
In ls41, without solicitation on his part,
Mr.. Barry was appointed judge of the
court Of common pleas for Grafton county.
In 1870 he became judge of probate, serv-
ing until 1861, when he was elected gov.
ernor of New Hampshire. He had pre-
viously been "A member of the Legislature
and state senate for six terms each.