The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-22


The late Eliot f. Shepard, plastered the
walls of the Chicago hotels at national
convention with pictures of "Chauncey De-
pew, the Changers Friend" The posters
did not gain any friends for Mr.. Depew in
the granger States, but they emphasized
the contrast which has come over the East
ern States in the attitude of the public to-
ward the railroads since Mr.. Depew came
into prominence as a railroad man. Just
before Mr.. Depew was made president of
the New York Central Railroad there was
an outcry against the railroads in the State
of New York which grew to such proper
lions that the owners of the Central Sc
riousIy feared the conhscation of the road
at the next meeting of the Legislature
Boards Of trade in all the towns were
clamoring for it. Mr.. Depew proposed to
Mr.. Vanderbilt that he would go out and
meet the boards of trade. Mr.. Vanderbilt
asserting, he went before these boards and
discussed openly with committees their
grievances. One thing that they demanded
was a railroad commission at Albany. Mr..
Depew, on behalf of the New York Central
road, said he would advocate the creation
of a commission. He saw that when the
men with grievances against the road had
some place to take their griefs they would
he satisfied You know the public better
than I do said Mr. Vanderbilt and he ap-
proved Mr.. Depew's action. The Legisla-
ture created a railroad commission, and
since that time there has not been a Sc
rious note of discomfort in New York State.
The remedy was heroic for Mr. Depew said
recently that the orders of the railway
commission had cost the New York Central
Railroad annually half million dollars.
The New York Central has never disputed
an order of the commission
The speech-maling, storytelling side Of
Mr.. Depew is we'll known; the railroad side
of him less well known; and there is a third
side equally important which is not known
publicly at all. Mr.. Depew's salary as
railroad officer is more than $4,000 year,
but his income is more than twice that
amount The other part Of it comes chiefly
as fees for advice in business and legal mat
tiers.
Few professional men in the worlds his
tory have received a single fee of $500 000
That is the amount said to have been paid
to John w. Foster by the Chinese govern
ment for negotiating treaty of peace with
Japan, but the statement was greeted with
some increduIity. Mr.. Depew received fee
Of $203, 600 for saving an estate from bank
ruptcy He did not put in any bill for his
services; if he had asked 500. eco it would
have been paid.
One day the widow of man with whom
Mr. Depew had been intimate for some years
came to him and asked him to take charge
of the estate 1t was an estate which had
been worth several millions. Mr.. Depew ex
am ned it and found that, if it was liquidated
it would be in debt million and a half.
He undertook the management of it, and at
the end of two years turned it over to the
heirs worth a million and a half. OF this
$3.50 900 went to the widow. She said to Mr..
Depew: II am going abroad to live. want
you to take charge of this money and do
what you like with it. 1 don't want to hear
of it at ALL Mr.. Depew took charge of
her private estate. She added to it at the
end of ten years million dollars which she
received from other sources Mr.. Depew
paid her $4,000 a year for twenty years, and
at-the end of that tn.e returned to her heirs
five million dollars.
Most of the trusts Which Mr.. Depew has
fulfilled have been confidential Men seek
him at his home to tell him their troubles
and ask his advice. One night well-known
| business man came to him, his face stream
ing with perspiration, and said he could
bear the burden of his troubles no longer;
he had not slept for a week, and he must
tell his story or he should go mad. He was
! generally accounted very wealthy man,
but he told Mr.. Depew that he on the
verge of ruin and that in his collapse many
| other business men would suffer. Mr.. De-
pew got all the facts from him, talked with
him through q great part of the night, and
finally mapped out plan by which he be-
| lieved the business could be saved. The man
accepted the plan. The next day he en-
ployed some of the best lawyers in New
| York to carry it out. In six months, re-es-
tablished in the business world he sent Mr..
| Depew check for large sum- with letter
saying it was only part of what he be-
| lieved he owed him.
These are only two instances of Mr.. De-
| pew's experience as a business adviser or
consulting attorney. He never has rendered
q bill for his services, and he never has per-
mitted his practice to interfere with his rail
| road work.
In Mr.. Depew is found another illustration
of the man who makes fortunes for others
while doing little or nothing for himself.
Mr. Depew has always been too generous to
grow rich, while he has helped others to
make millions. At the time he was consid-
cred for ambassador to Great Britain Mr..
Depew was the indorser on notes of business
J AANNS
had to meet these notes; and, to protect
himself, has had to buy in the properties
securing them. By good management he
will be able to save himself from much loss.
Mr.. Depew has had other drains on his re-
sources which have helped to keep him out
of the ranks of rich men. He has paid for
the education of half dozen young men of
ambition, and for nearly quarter of a CEN
tury he has supported three families beside
his own.
In accepting the position of senator, Mr..
Depew will sacrifice a large part of his in
| come, probably. He has not had to meet the
question of what he would do in the matter
of his railroad Offices yet. The administra-
ton at Washington is opposed to an extra
session of Congress, so he will probably not
have to meet it till December next. There IS
no doubt that he will have to give up some
of his business associations, though; for he
has always been conscientiously devoted to
the duties of his business positions, and ne
cannot attend to all of them and to his So
cial engagements and be a United States
senator at the same time. In fact, it is sur
prising to those who know the demands
made on his time now that he is able to do
so many things and to do them all so we'll.
HIS VERSATILITY.