Arizona republican., 1902-03-01
THE SKYRocKE1'S CAREER

1 Frank C. Andrews-police commis- sioner. banker. amateur politician man of many schemes, who has ruined l himself his bank and his friends, be- gan business in this city eleven years ago with SIPS. Now he has nothing and owes his bank s662. GOO and .s under arrest. He was the banks vice presi- dent.
 1 Andrews. literally gutted the bank | day by day of it's cash. Whenever he needed money he would draw check | for the amount and have it certified by l Cashier H. R. Andrews.
 l He would present this certified check l to the person with whom he was doing business and ask him to hold it out for that day. as the bank was moi in funds | to meet it.
 Perhaps he would thus hold a check out for two or three days. and event ually. when there was money enough | in the bank to meet the check, he would go in and take it out. There would be only a slip of paper in the drawer and the withdrawal would be put down as q cash item. ! With this money he would in person pay the certified check and tear it up. 1 This was done time and again. | Where this enormous amount Of money has gone no one can state defi- | nitely. Every one knows the general direction-he has fed the speculative market as he bled it before his luck turned. Thirty years old, he has the nerve of a man who has fought the tape and ticket for lifetime. He made
 no secret of his methods-or his mania. | as people are calling it now. He preached the gospel of taking chances. and laughed at the plodder who saved. He scoffed at safe investments and lauded the possibilities of the stock market.
 He left the farm a few years ago with 8 Tn his pocket. His liabilities were sS.75. so he had cash capital of s1.25. Just how he got enough to make his
 first plunge is not known, but soon he
 was in the maelstrom of the market. Copper. leather. sugar. steel-all were
 alike to him. He bought and sold rap idly. His speciality seemed to be the
 difficult art of quick turning" and for
 tune seemed to Suide his every oper-
 ation.
 No man should work after he is 40, ''
 was Andrews motto. and he gave a
 striking example Of trying so to fix
 himself that he could live up to it. |; Words of caution were thrown away.
 He was advised to put on the brakes.
 but he only laughed and said:
 Even if am wrong. I go through
 with it for the experience. , Money making requires personal fit-
 ness. After nature, give thanks to your mother. I look on 1t as l do on
 other talents. The money faculty is an
 instinct. the same as any other in- stincts. I do not see how a man can possibly make a fortune unless he ! speculates. Don't you ever believe that , by saving money a man doubles his I.a~.V .I. , punches.
 Human life is 500 short for the slow S processes of thrift. I concede that one gets n small start by keeping part O;
 his salary. but we are not talking about
 business employees in this connection but commercial success in a broad sense.
 AM my good fortune. so far as it has
 come has resulted in taking chances
 have preferred to take chances on a
 large piece of real estate rather than
 a bushel of beans. So l have made . more money than a corner grocer and yet. with all due respect. I could not
 possibly manage grocery store. Every
 man in his own place is my rule. l find
 success in an indomitable faith in your own proposition"
 When Mir. Andrews thus sat at naught all the rules of prudence and finance he
 was worth considerably over Sl ,O00. .000
 with investments which would have
 developed with conservative handling
 into twice that sum-
 Just about this time the copper mar
 ket tempted him. One report is that
 he loaded up with 12,00O shares This
 is believed to be an congregation, and
 one-third of that amount is held to be a fair estimate of his holdings. This he acquired two years ago and if he
 has not bought since on margins the
 drop in Amalgamated could not have hurt him to any great extent.
 The electric line fever, which wrecked the Everett-Moore syndicate of Cleve- 1 land, O.. also found in him q ready and willing victim. He started q line be- | tween Holland and Grand Rapids, Mich. The construction of the road seemed easy from an engineering | standpoint, and Andrews decided to take chances" That chance has tapped his pocketbook, or rather the savings | accounts of the depositors of his bank for hundreds of thousands of dollars. The road is practically finished so is l it's treasurer. MT. Andrews. 1 MT. Andrews apparently had mo- ments when he doubted the absolute sanity of his speculation dogma, for he bought S100.0O0 worth of Union Pacific | bonds, n similar amount of Burlington stock and put s1O0.O00 in the erection of a flat building in Woodward avenue These and other securities have been turned over to the bank. Their total is said to be over s5O0, 0,O00-Detroit Mich correspondence St. Louis Post-Dis- | patch.