Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-08-17

about YOU Scott told us the other
night about what that little Scotch dey-
II OF ms lad been doing And with that
ne laughed and / felt / had friend in
him as Well as In Mr. Scott"
FIRST INVESTMENT.
MI Scot took a great interest IN the
young stJichman, and one day asked
HIM If DE lad or could find live hundred
cellars TO invest The boy promptly
replied That he thought be could obtain
IT, Mr. Scott Informed him thar "A man
had just died who owned len shares in
the Adams Express company The stock
would cost 500 a share. and Mir. scott
promised To- help with little balance in
case his clerk could not raise the entire
amount
The available assets OF the Carnegie
! family We're less than five hundred
| dollars, but Andrew had full confdenN.
ia the ability, pluck ana resource of bls
I mother He iaid the proposition before
/ Ner. They hau managed 10 purchase a
/ small house which the good mother at
| once decided to mortgage, in order TO
! give our bD- a start
she took steamer ana went 10 Ohio,
| where She secured the money from a
! brother executing a mortgage as Sc
/ curity FOR the loan The money was
/ pau over and Andrew Carnegie owned
his FIRST stock, ten shares in the Adams
, Express company II was hen paving
monthly dividends OF one per cent and
soon the first check for ten dollars ar
| rived
I can see II now" said Mr.. Carnegie,
recalling the incident Il well remem-
Der the signature OF j. C.. Babcock,
cashier who wrote q big John Han
cock hand. The next day being sun
day. We boys-myself and my ever con-
slant Con.I aniOns-t0ok our usual sun
day stroll In the country, and, sitting
down IN The woods, | showed them the
check, saying, Eureka We have
found IT, Here was something new to
all Of us. for none Of US had ever re-
ceived anything but from toll. a return
from capital was something new and
strange
How money could make money, how
without any attention from me this
mysterious golden visitor should come.
led TO much speculation upon the part
OF the younk fellows, and | was for the
first time hailed as a capitalist"
MORE GOOD LUCK.
Soon after this investment man who
looked like a gentleman farmer APP
preached young Carnegie, saying thar
the conductor had told him he was con-
nected with the railroad company and
that he would like 10 show him some-
thing. He pulled from a small green
bag the model Of the irst sleeping car.
This was Mr. Woodruff, the inventor.
The value of this invention struck Ar.
Carnegie like a FASH He asked Mr..
Woodruff to come to Altoona the fol-
lowing week. and he did so. Mr. Scott
with his usual quickness, grasped the
idea, and a contract was made with Mr.
Woodruff 10 put two trial cars on the
Pennsylvania Railroad. What followed
is so thoroughly Characteristic Of the
Carnegie Of those years that il Is best
told IN bis own words.
Before leaving Altoona Mr.. Wood
ruff offered me an interest In the yen-
lure, which | promptly accepted. But
how ] was to make the payments rather
troubled me, for the cars were to be
I paid for in monthly instruments after
delivery, and my first monthly payment
was 10 be s2lL50. ! had not the money
and / did not see any way Of getting II.
But | finally decided 10 visit the local
I bank and G.b him for a loan, pledglng
myself TO repay al the RE OF $40
month, lie promptly granted II. Never
shall ! forget his putting his hand on
| my shoulder and saying, on, yes,
Andy, you are al right ] then ana
there signed my irst note, Ny SUISSE
| queat payments were made by receipts
from the sleeping cars, and realiy
| Mai. nv urst considerable sum from
this investment In the woodruff Sleep
ing Car totapany, which was afterward
absorbed by Mr.. Pullman
Without dvlracting In the least from
Mr. Caneg.es youthful sagaclty ana
good Judgment, Il must be conceded
this vas a risky investment with re-
marhaby lucky result. Few young
mea of today can find bankers ready
4 To back inventive enterprises without
adequate securities back of the loan. 1t
IS idle to speculate on what would nave
happened IL the young investor had
been called on 10 pay the monthly IN
stalment for an indefinite period at the
end Of which The venture had resulted
ina failure. II is but fair to record this
as one Of Mr. Carnegie's nervy anu
lucky strokes.
WOUNDED IN THE WAR
Soon after this the War Of the Rebel
lion broke out and Andrew Carnegie
was assigned 10 duty In and around
Washington He had laughingly de-
rlarpd hat he was the third man
wounded I'm the war lie had charge OK
the telegraph service. Carnegie was in
srcrI.r tie wires from the pilot OF a
locomotive running between Elbridge
Junction and Washington The Con-
f.fera.pg had pinned several wires 10
The ground I'm attempting 20 release
Thorn one of the wires flew Up and cut
a severe cash in his face, but Mr. Car
ncpie has not yet applied for a PEN
sion. During the war Mr. Carnegie hal
charge Of the telegraph office ana
helped make the war cipher system. fof
thirteen years be- remained with the
Pennsylvania Railroad company inal-
IN succeeding Mr. Scott as superinten-
dent the latter becoming vice presl-
dent As superintendent he helped make
mo first experiment with a cast IRON
bridge ,.
Becoming convinced that ihe iron
bridge was the bridge Of the future, nc
resigned his position ana organized a
company 10 build them, Tie haQ no
money IN any amount necessary Ior,
/ that ruruOgo. and borrowed lls sHH p "a
tbe c8pItal-gl. 2-J-from the bank. HIS
company built the first great iron
bridge over the Ohio river and MADE
money from the start Here his career
as "a boy ends.
MADE 4 MILLION is OIL LANDS.
he was then a business man. when
oil was discovered De- borrowed paiS
of 100000 and invested DO in oil lands On
M, storey farm. 900 on Creek. The pro-
ms FOR the hrs. year were Wow W
INNS money served as the capital win
which he founded The iron 49, -
bus.n..s with which bis name is insep-
/ maly connected .-.....-
Tbg world hears more OF fortunate
r,.r ~ unuekv investments ana 10 -
NM. tbar likely that Mr. Carnegie na1
his share OF the Inflated ones before ne
".trirk OIL" ln fact, be came near
selling an OF his stock IN the storey
ann lands at @ nominal proht lie had
nr,r hundred shares ana De-
l,mlpr discouraged sold one hun
5rsj Of them FOR about NVl.
and would have sold the others had ne
s.und purchaser. Tie lhen went 20
rrelsnd When be returned MS two