The Providence news. (Providence [R.I.]) 1891-1906, 1901-01-14
MADE AND LOST $50. 900.

Cincinnati Sandusky and Cleveland rail-
road stock dropped all at once from $50
to 50 a share. Then the stock rose. and
Lawson, being on the inside. cleaned up
SEQ 900.
Then came a great loss on Boston Wa
ter Power stock. and the $4,000 disap-
peared. Mr.. Lawson said:
ITO be absolutely correct, dropped
just s5e.Si1. Deciding TO make a clean
sweep and start afresh, l gave dinner
TO a few friends at Young's Hotel for the
purpose OF getting rid OF the si5s left
when the dinner check was paid there
was still $50 left. and l gave that to
Horace. the head waiter.
"Then / was ready to start again. l
was broke at seventeen, after having
made what some men would be satisfied
TO call fortune.
"My next start was made as President
OF the Lawson Manufacturing Company
| This business led TO the first great fight
i had I'm the street, that against the
Lamson Store Service.
IL had invented system of slips and
| checks I'm use now I'm stores generally. L
was also making in my factory In Prov
| idence and another I'm Chicago the Law
! son machinery for printing tickets.
."The Lamson people had been crushing
| rivals out OF existence and tried to crush
| me. / said their methods would not stand
| inspection.
II was sued, threatened. enjoned, and
| had 10 do all my business on the street
In cash, which / had TO lug around with
| me i'm quantities, sometimes running into
| the hundred thousands.
| 'But | kept pounding Lamsou until !
| got II on the run. The fight was the
| sensation of the day I'm State street and
| Wall street carried IL on both here and
| In New York.
81 jammed the stock from 81 down 10 Ia.
| ! made the Lamson people ask for terms.
| Then / reorganized the Lamson store SER
| vice, consolidated my store service With
| II. and cleared up from the transaction
| $500, 600.
HIS GENERAL ELECTRIC DEAL.
MY biggest deal on the street undoubt-
| edly was the General Electric. l cleaned
| up $2634, 600 I'm hfty-eight days, though 1
! only got 20 per cent. OF the total profits.
"I had been attacked by the General
| Electric people and | had retaliated by a
| bear campaign that sent the stock down
| from 116 TO A.
81 had no ready money 20 put into the
deal and went 90 New York TO get back
! ing. | got firm 10 put In million, but
they drove a hard bargain. They got 50
| per cent. OF the profits.
'"rhe night closed out | met my back
| ers at tho Windsor Hotel I'm New York
| and handed them over s. 00O.000
after we had closed the business the
| two men who had been made richer by
| a million apiece I'm the deal persuaded me
| 20 go into a bear campaign on sugar !
| began 60 short sugar At G.. but found /
| was I'm the wrong kind OF deal. | closed
out az 9G a loser OF more than half n
| million. All my profits on General Elec-
tric were gone, and ! owed Si,3l2.65.
81 have evened up for that loss, for |
made n million on sugar last summer I'm
| a bull movement"
Asked about the building OF cup de-
fender. Mr.. Lawson said:
II had no great desire 10 build a cup de-
| fender. but I got in $4,000. then $780, 900.
! then $4,000. and now L am In for the
whole thing"
NOTED FOR NERVE.
Mr. Lawson has been identified with
| more "coups' than any other fnancier
in the street. lie Is noted for his wonder
| ful nerve. To all he is an enigma.
He does good with ono hand and
crushes men with the other lie Is the
most cordially hated man on State street.
Mr. Lawson Is the fond father OF five
| children, and a devoted husband 20 an
| invalid wife. lie has home az Winchcs-
| ter and city house on beacon street.
| Boston. aud is spending half n million on
a stock farm in Scituate. lie keeps n
! host Of servants and lives In lavish style.
Ills yacht The Dreamer. built for hSi
last season NJ Elizahethport. Is one OF
the finest steam yachts in American wa
tors. n cost $4,000
tlis stable r. one Of tho finest I'm the
country. He is fond of fine dogs aud has
ponchant for flowers. as his purchase
of the now famous Lawson pink for t3o .
0OD would Indicate.
His ideal character IN history is Cae-
rsr and one OF the ornaments I'm his deck