The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1901-01-13

IL did lot appel 10 them as good
investment They did not look be-
yond their noses They associated
copper with the sheathing on old
wooden vessels as its only market.
and their conviction in this regard was
made stronger when they watched the
gradual disappearance of wooden yes
sells. they being supplanted by steel
and iron craft In the false position
they took the Bostonians did not seek
TO discourage them
Il found that the copper industry
itself made return of 100 per cent.
and that il was as safe and sure an in
vestment as the to per cent steel.
and second. found that could inter
est capital in the working of copper
mines in the United States
Then felt that few lessons on
copper would be profitable learning 20
capitalists, and | started out to edu-
cate few of them to my way Of think
ing. did not attempt TO interest them
in the undiscovered or undeveloped
mines, as is being done today, but ]
sought interviews with few men
who controlled $4,000, 900 or So. 000. 900
and said to these men:
"1f you let me go out and invest
your money in improved copper mines
will bring you back stocks of owner
ship that have copper enough ahead
so that YOU can go and see the stored
up dividends to make it absolutely
sure that the earnings will continue
indefinitely and give returns of % to
40 per cent on the investment
That being the case, and We find
that We have 100000. 900 invested in
such property, We can educate the in
vestors of the world as to the surety
and Legitimacy of the investment. and
Immediately the result will be brought
about that capital will compete for
the ownership of me property until it
has run the return from % to 40 per
cent to 5 or Z, and therefore. when
this is accomplished the property can
be recapitalized on the basis of its
remodernization and ME 100000. 900
will swell into 100000. 000'
THE men to whom made this talk
are H. H. Rogers and John D. Rookie
Teller. They said to me:
Lawson, you must be crazy
But l said, you go ahead and in
IL.
Think it over WELL
well, they put on their thinking
caps and made exhaustive researches,
and finally came to my way of think
ing, and today 1 can say that I abso-
lutely demonstrated I was right N
every word said.
''At that time Montana Copper could
be purchased on the market at $50
share. 1t had just risen from s25.
That was a natural rise. Anaconda
could be bought at 500, Calumet and
Heckla at 1925 and other copper stock
in the same proportion. Today these
stocks, some of them increased 500
per cent, are sitter than when they
could be bought at the prices / have
quoted. So the increase OF these three
pieces of property alone was: Mon
tana, $45,000,000; Anaconda, $4S,00O,-
600; Calumet and Hecla, $73 200 900.
an aggregate of S166 ZOO, 900.
These men of wealth and started
in broad, systematic way-no specu-
lation or boom, but in an earnest effort
to put the industry on basis common
dard Of capital and modern methods. |
In that we have succeeded"
Mr.. Lawson has a delicious frank
ness about some of his big operations, |
and at the close of his profitable turn |
in sugar stock for more than 81 ,000. 000 |
he gave Boston paper the following
account of how ne did it:
Il have been twenty-five years dodg !
ing the scalping Knives of Wall street |
Comanches, and although l am still |
here l have many places on my head |
where the hair refuses to grow. and, |
strange to tell, almost all the bald |
spots are labelled Sugar | suppose |
that have, during the last ten years, |
enuuw a lar sizeQ asylum Tor laIliess |
Oea.s. IL nas never seemed To matter |
whether 1 bought Or sUia, went Ions
Va snO1t, the 0oiiafs that 1 secured By |
ne employ ment Oh PICK ana shower, |
DIawn, muscle OF gay matter, all ap- |
peaIea TO Hollow one another INTO the |
reienliess NAV OF InaI modern sac |
cnarlne IilanaIherlum.
way DacA Id 30 4 invested the prof |
ilS vi my Lawson ueai-}tvv,vvv-in |
Iv,vvv Susai a. On, AMI IN a lew uays, |
ssaIcu, Nnen 1t graoefuIiy dropped be-
40" 90. again, lour years ago, / de-
Siueo tnat eouio mane NO Deter long
time Investment o. Ssvv,uvu or ysuv,-
ovv EieStric pronts tnan 20 snort sugar |
nom oi 10 az IN eleven Gays IL TOOK |
st,ov0 more Inan my prouts TO even
up my account.
Ininking these things over of late |
| determined 10 make a maj demand |
on astute and relentless Wall street /
Tor my accumulated deposits kind |
OF piease-glve-me-bacK-m y-iosses de-
mand- 1 carefully loaded mn to the
extent Of 10000 Sugar in the 30s. and |
feeling the atmosphere was redolent In |
opportunities, l bought 10000 more. |
the last 5000 of which in a rather omen |
and frank way that seemed but fair To |
my scalping New York friends. Wen. |
you know the rest Il took fire ri
cleaned up something over 5000 400 |
and put out short iine of n, oo0 |
shares, the last OF which l covered 1T |
something over $3.50 .o00 profit. Strange
as it may seem. / was quit. l have
struck balance with Sugar, and II |
gets no more of my money.
Il am one Of the few Bostonians who
are content to live in the knovledee
that Wall street is too big and bright
and cute a metropolitan center for
country boys to monkey with, and you
can say am so ticSied to get back. mr
bait that viii never again wander
avay iron home