Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1901-10-24

Uiu d6S, anu SlA nOnlho VI every year
he insisted in spending in the woods
and on his farm near Ogontz
The boys were compelled to separ-
ate in measure when young Cooke
went into the leading mercantile es-
Enlistment of Sandusky as clerk.
Here he remained two or three years
and then he went to st. Louis when ne
was 10 to become q clerk in store
at that western outpost. This was
his first venture into the worll
entirely away from his home and he
had a chance at it from having formed
the acquaintance of the proprietor of
the establishment, as the latter passed
through Sandusky. The latter city
was on the high road between the
east and the west, over which all
travellers passed at that time. The
st. Louis merchant saw young Cooke
and was attracted by his energy and
brightness and offered him the place
If he would go out The separation
from Ogontz that this move made conf
plete grieved the heart of the silent
Indian youth greatly. When the stage
coach that bore his white friend to
the Ohio river started the Indian fol
lowed It on foot for many miles. un-
needing the fatigue that the run be-
hind the trotting horses imposed, con-
tent that he might the longer feast his
eyes upon the face of his white friend
that was going from him
Into the Banking Business.
The panic OF 1897 caused the failure
OF the st. Louis merchant and young
Cooke went back to Sandusky con-
siderably richer for the money he had
saved out of his salary. His brother
in-law was interested in a canal boat
line between Philadelphia and Pitts
burg and Jay was employed by the
company as press agent or in a
capacity that nearly corresponds to
that sort Of work, Then he went to
Philadelphia, where he kept the books
of hotel to pay for his board, while
he looked after several other matters
bhol PiOhintti W Blft MIN q obdhulll5
In the business world. He prepared
for publication each week financial
letter, the first of the kind ever print
ed in this country, and this brought
him into closer relation with the
banking world, in which he was after
ward to make his name and fortune.
When he was 10 he was offered and
accepted a position as clerk in the
banking establishment of f. W. Clarke
& Co. This was the most prominent
bank of the city at that time and
young Cooke rapidly worked his way
up from the bottom until on MS
twenty-frst birthday he was surprised
by the head OF the firm offering him Il
he had no capital to put into the bust
ness, but this made no difference. He
was told that from that day IL he
wanted IL he was a partner with a
share in the profits of the business.
This opened the road to forums
which he had longed for. Here he
made the start which laid the founda
ton of his after achievements. He
married shortly after this.
Chase's Financial Adviser.
When the civil war broke out Jay
Cooke was 40 years old and was
not known throughout the country
He was we'll known in financial circles
of Pennsylvania and of his native
state of Ohio and had many friends In
both of these. When Salmon p
Chase as secretary of the treasury
called conference Of bankers of the
country to discuss the matter of rails
ing funds with which to equip arc
pay the army and carry on the gov
ernment Jay Cooke was consulted
Some time before this he and his
brother.in-law had organized a
partnership under the firm name 81
Jay Cooke & Co. The leading bank
ers of New York and the country
finally told Secretary Chase that they
could supply him with $4,000, 900 o;
bonds to be issued. but that with thl;
the rebellion must be put down, as
there would not be q possible chance
for the north to raise any more
Cooke did not believe this and TOLD
the secretary so. When the $4,000.
600 was all gone and the nation was IL
pressing need OF many times thai
much more he sent for Cooke and
asked him to represent the govern
ment as It's financial agent and rails,
the money that must be had TO savS
the nation, Cooke agreed to under
take the task and explained to the
secretary that the appeal for the
money must be made to the masses o.
the people. He criticised the methot
in which Chase had attempted to ad
vertise for bids for the bonds by stick
ing formal two or three line notice
IN one or two financial journals
Chase in establishment asked II he
would have the nations bonds adver
tised over the country like patent
medicine Jay Cooke assured him
that this was Just the manner In
which 1t should be done. that IL was
from the people that the money was e
come. and it was necessary to let the
| people know that the government had
thn hnnAe