Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-28
THE FIRST s1OO BILL.
Pittsburg's Successful Men Tell
Youngsters How to Invest 1t.
A HOME Is THE THING TO GET.
Then Good Little Wife to Put in 1t Is 9
Proper Ambition.
OTHER PARTNERSHIPS NOT so sAFH
IwR1rrES FOR THE DrspArcu.l

WRITTEN FOR THE DrsPArcu.1
One of the problems that faces young men
who have managed to accumulate few
hundred dollars is whether they shall let is
remain in bank or whether they shall ven-
ture into some business. Having decided
that it would be good thing to invest tho
money in some way, the question is, how
shall it be placed? There are large num-
Der of successful business men in Pittsburg.
These commercial princes should know bet
ter than any other class how to wisely in
vest capital, whether large or small.
b. G. Frick, ESQ.,, laughed when the
question was put to him. He said: 'Tf
young man has s1OO or so be might buy
stock in coke. That is one thing might
advise. Some one else might advise him to
buy pictures, or oil, or real estate, or .
dozen things, if his capital would hold out.
But, after all, it would depend entirely
upon the young man and the opportunities
he had It is not easy to apply general
suggestion that would fit thousands OF in
diyidual cases"
The Banker Booms Bank Accounts.
Judge Mellon was found at his bank He
thought that there was no better invest
ment than bank account 'Let the young
man put his money in bank and let it stay
there until good investment presents it
self If he can lend it, on thoroughly safe
collateral, with return of per cent, he
should be satisfied with that" The Judge
did not think investment in stocks or bonds
was a good thing. "But, after all" I" he
added, ''it all depends on the young man.
A person cannot easily acquire the habit Of
saving. If he is not born with the saving
instinct nothing can implant it in him.
Above all, let him hold on to his money.
Do not let him go away with wild schemes.
Act slowly, but surely, and the end will be
all right. I do not think the young man
who has managed to. save few hundred
dollars needs much advice in spending it.
If he has contrived to save it, he is pretty
sure to be shrewd enough to know how to
invest il.
7. G.. Jenkins, ESQ, told the reporter that
be thought the best investment for the
young mans money was to leave it in
bank until he has enough to buy home.
That should be the first ambition of every
man. When he has his home he feels that
be is good for something.
Get Home, Then . Wife.
'Never invest in stocks" he said. "T
have had great deal OF experience with.
employees, and have always advised them
10 put their money in the bank, and then
BUY home and get married. The results,
# he gets the right kind of wife, are sure to
be good. His fortune is made, because she
will help him to save money and invest it
70 the greatest advantage"
John 8. Bindley, Esq, said: "About the
,nly use little money can De to young
nan is to act as an incentive to him to save
more. The first thing in saving money is
20 be able to exercise self-deniaL Suppose
young man wants to go to theater, or to
buy new hat, he may say to himself that he
an do without the evening at theater, or
le can make the hat last q few weeks
onger These are the sort Of ways in which
Young man can exercise self-denial and
ave money. Let him keep his savings in q
,ank until he has enough to buy little
property in some place where it will be
pretty sure to increase in value. But do not
ct him buy stocks. That means ruin for
most young men. But, independently Of
his, 1t is certain that Americans think too
much of the mighty dollar. There are
ther things to be lived for besides money.
americans make a god of Mammon. There
Till have to be big change in this respect
efore long. A man sees another one be-
ONE rich and powerful, and he struggles
,r the same. He does not need the money,
ut he enters the feverish race, and cannot
.op."
schenIey Park as Money Saver.
8. s. Marvin, ESQ.,, thought that tho
oung man who has saved 500 can be
rusted to select some safe way of spend
,g it. 49,. 80
fTf the money has been given him" he
dded, ''that is different thing. He is
kelly to invest it in foolish manner, and
IN through it in course of time. The best
ay to take care of 500 is to put it in
wings bank. Then, in course of time, let
i'm buy little home for himself That is
,mething every man should possess. A
bod many young men spend their money in
,ing down the river on Sunday excursion
pats, and in other ways. That costs
oney.
"Why should they not go into the ALLIE
1eny Parks, instead. Or, still better, to
,henley Park. We shall have more parks
Pittsburg in time, and it will be good
ing for the young man when we do.
bove all, do not let him speculate. Let
m place his money IN enterprises that are
easurably safe, even if they do not yield a
rtune in month or two"
Opposed to Having Partners.
Captain Vandergrift received the inquirer
jocular vein. He said: "Why, sup
se the young man starts peanut stand
th his capital. am told that is a good
siness." Then, seriously: "Let him put
S money in the bank until it has grown to
,oodly sum. A man cannot do much with
ew hundred dollars When 1 was boy
u could buy good-sized piece of land
hit here, at the Oil Exchange, tor few
ndred dollars. Now it cost several thou
nd dollars foot.
''Let the young man keep away from
rtners. Let him manage his own business
rsonally, and not let anyone else inter-
.e. That has good deal to do with the
ccess Of business man. The young man
ould marry, but he should be sure to get
|, right sort of wife. A woman has very
lch to do with helping man along in
e."
Several other well-known Pittsburgers
re seen, who objected to their names be-
!, used, but whose opinions all conceded
the main with those given above.
MISS A.