The Barre daily times. (Barre, Vt.) 1897-1959, 1904-07-02
MORGAN S HIGH FINANCE.
How the Millionaire Saved
$1,000 on a Little Deal.
TWO CHECKS AND A COSTLY PEARL

lWO OubOho AMI 4 OOoib4 IhhAll
jewelers. Might Have Had $1,000
Instead OF $1,000 For II. but Did
Not Know It--some sealing Wax
and Little shrewd bargaining
gave the Financier Chance 70
ChuckIe.
The reason that Pierpont Morgan
recently went abroad. according to ex'
cellent authority was not that his bush
ness acumcn had been dulled and need
ed sharpening with vacation. The ex-
cellent authority is well known Fifth
avenue jewelry tirm in New York. The
story came out the other day, says the
New York Times
The jewelry firm not long ago receiy-
ed very fine pearl So sNikingly hand
some was the jewel end 50 certain
were the firms experts that it would
appeal with most effect to conn0is-
senr that Il was determined 70 offer II
| al private sale to some one who not
only knew what was what but who
was able to crafty his tastes without
regard TO cost
The question was thoroughly thrash
ed over in the private office of the firm.
Finally one Of the partners said, Let's
send this down TO Mr. Morgan and LEI
him have first say on it."
The idea met with unanimous APP
proval. and stenographer was in
structed to write to Mr. Morgan that If
he wanted the pearl. which was set III
a scarfpin, he could have 1t for $1,000.
In the event the pearl did not meet
with his appr0Yalit was forwarded
with the note the fnancier was asked
to return 1t BY the messenger Entrusted
with it.
In due time the pearl. accompanied
by the firms letter. 1eaehed Mr. Nor.
gan. The jewel was carefully wrapped
In tissue paper and inclosed in leather
covered box. Mr. Morgaif read the
nrm's communication with interest
and opened the box containing the
pearl He was delighted with it and
after closely Inspecting 1t. rewfapped i
in the tissue paper and thrust il into
his trousers pocket,
at this point high finance took the
center Of the stage Calling his cash
Ter, Mr. Morgan instructed him to draw
two checks to the firm Of jewelers. one
for $4,000 aud the other for $1,000
The $1,000 check Mr. Morgan placed
in the box that had contained the pearl
He had the package carefully tied and
sealed with wax. The $1,000 check he
inclosed in q letter TO the jewe4ers, In
which he wrote that If the firm was
willing to accept that amount for the
pearl the box might be returned to him
at once and the transaction considered
closed. Iii the event, however, that the
firm was unwilling to accept less thar
$1,000 for the pin the $4,000 check was
to be returned without delay
The preliminaries executed, Mr. Nor
gan, with the pearl safe In his pocket
sent the messenger back. bearing Ills
letter ana the box Id less than az
hour the messenger returned, fetching
the box in which was the 5000 check
He announced that the jewellers had
decided to accept the $1,000 offer Mr.
Morgan received the information com
placently When the messenger had
taken his departure Mr.. Morgan chuc
kled
Just before he sailed for the Other
, side Mr.. Morgan met one Of the mem
bers Of the jewelry firm at q dinner AMI
related to him the story Of the twt
checks The ieweler forthwith ayerret
that his firm had lost money by III,
transaction
IF yon were losing money" asked
Mr., Morgan, why didn't you keep ms
$1,000 check 2"
The jeweler is said TO have bowed
low
Il can understand now, Mr.. Morgan
he declared. how it is that you hay,
earned your place as the leading finan
! cier of the age