The Lewiston teller. (Lewiston, Idaho) 1900-1905, 1902-04-03

About 1895 he began to dabble in
stocks. He believed the country was
on the eve Of an era of prosperity, and
he began to put his theory Of specula-
ton to the test. He operated cautious
~, contenting himself with small prof
It's and making quick returns. The SEN
tor member of the firm frowned on the
practice as soon as he learned Of 1t, and
the partners gradually drifted apart.
They were warm friends, but Andrews
by degrees got out Of the business,
though he was nominally member OF
the firm for several years thereafter.
He really believed himself favorite
Of destiny, Napoleon Of finance, but
forgot Waterloo. The ms and outs Of his
speculation are known only to himself
and his brokers, but it is believed that
the copper mines Of Michigan were a
source of great profit to him. Early in
his career he began investing his sur
plus profits in the stock Of banks. He
thus acquired holdings In the City Saw
fngs, the Dime Savings and the Preston
National Banks. OF Detroit, the Park
National Of New York, the First Ma
tiOnal Of Romeo, and the Romeo Saw
ipgs Bank. He secured $50 Of the 1900
shares in the City Savings, and it was
understood that the burden of manage
ment should fall on him and the cash.
Ter. In 1899 he branched out In new
direction by financing the Detroit,
Rochester, Romeo and Lake Orion Rail-
road, an electric line to run twenty-five
miles out of Detroit. Subsequently he
also undertook to place the bonds of the
Grand Rapids, Holland and Lake Mich
igan and the Lake Orion and Flint Rail-
roads. He became treasurer OF all
three. He was chosen treasurer of the
Detroit Reduction Company, was q spe-
cial partner in ut least three manufac-
turing concerns, and he invested In
number Of mines. One Of these was the
Quebeadilla, of Mexico, which had
made nearly $5.OOO.OOO for its Detroit
owners before. Two years ago he
helped to capture and reorganize the
Preston National Bank, for which pur-
pose it was necessary to buy up a ma.
jority Of the 100000 of stock. Then
followed the organization Of the Detroit
Trust Company.
The Sensational Finish.
But the plunger made q mistake; he
did not know when he had enough. He
could not break the habit Of specula-
ton SO easily. He thought he saw a
chance to make one more ''killing" In
Amalgamated Copper stock. aud he
plunged as usual. He Is said to have
held 10000 to 1900 shares and to have
bought some of 1t as high as 121. 1t
went OF about 60 points. which might
account for loss of 100000 to 500
buying on the scale down. His fortune
melted away like SNOW In July sun.
lie became desperate. He tried to re-
coup In other stocks and lost He Dor
rowed $272,OOO of the First National
Bank. $1OO,OOO Of the Preston National
Bank. $4,000 of the Detroit Trust. $50.
COO Of the State Savings and 100000
OF the Detroit National. These loans
aggregated $685.. 900. and Andrews is
supposed to have deposited In those
banks stocks and bonds worth about
81, 100000.
About Jan. Is President Pingree of
the City Savings Bank went east, and
during the next twenty days Vice Pres
ident Andrews overdrew his account
at that bank by $4,000, forbidding
Cashier Andrews to notify the direc-
tors. Then he persuaded the cashier to
certify to worthless checks for $662. 600,
with which the plunger Is said to have
paid OF his indebtedness Mt the other