The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-10-16

in the banking house Of August Bel
mont Co. He did only such routine
work as falls TO the share of the young
est man in the establishment, but every
person employed in the bank was m
terested in how he did il. The young
man was quiet, transformations and
earnest He seemed intent on learning
and before he had been in the Office i
week the old attaches, men who have
been with the house" many, many
years, told each other confidentially
He's a regular Belmont. He'll de-
Then they told how much he resembled
his father not only in looks but in every
detail of manner.
The young man is August Belmont
III. He is starting in precisely as cid
his father. When the young man
shows that he has made good progress
he VIII be promoted 10 junior part
neTship. but for the next few years
life will be real and earnest for August
III.
Just as the first August Belmont
trained the present head of the house
for the vast responsibilities he was 10
assume, so the youngest August Bel
mont is to be trained for the task
which will be his when his father lays
down his work
! 1t is doubtful whether young August
fully appreciates the magnitude of the
! interests he must safeguard when he
comes into his own. Great as is The
| business of the surface, the subway
and the elevated lines of which his
/ father is master today, it is small to
! what it Will be twenty years from now,
] when August III probably will be in
control. These lines new carry more
than LOCO 900 passengers day. 1t is
I reasonable to expect that twenty years
! from now the Belmont transportation
/ lines, extended and amplified as the
/ must be to meet the city'5 surprising
growth. will handle 100000 or more
passengers a day. To do Justice TO
/ the management of such colossal en-
terprise young August must not only
! have administrative ability OF hlgh
order. but a general knowledge of the
various departments Of the passenger
railroad business. He must be force
| ful enough to command the best en-
ergies of men of great skill must have
a good knowledge of everything that
i will tend toward bringing about the
/ important economies, must know how
4 TO So treat with armies of skilled and
lmskilled labor that few, if any, run
/ lures occur. and must give TO the great
| property all the care and attention
/ that d master mechanic gives TO the
machinery.
/ But the local transportation business,
/ immense as il is and viii be, Is only
one of the many fields in which the
young man must be trained. There are
! nearly twOscore of great enterprises,
| Industrial and otherwise, in which the
| Belmont millions are invested and IN
/ which the head Of the house OF Belmont
must be represented. In each and all
] I1,T.,, av4f
| or less training before he is qualified
/ to assume his fathers place. Thus far
August III has had a lot of play and
very little work. From now on he Will
! have lots of work and very little play.
/ His father works hard and plays lard.
/ He has so systematiZed his affairs that
/ he has not made himself slave 10
/ business. If the son has inherited his
] fathers ability in this direction he is
lucky indeed. Many young men may
envy young Belmont, but il is EOubttul
/ if one young man in one hundred IN all
the great city of New York will have
to work harder from now on than VIII
the youthful millionaire.
August Belmont III is -, but looks
/ older Like his father he is a trifle
below medium height. Like his father,
he is an athlete, an ardent sportsman,
Il lover of horses. a good sailor. fair
UOAtf, a ndIu nllleI anu a OltAltit Nv
/ He dislikes nOtOriety, and is less known
to the public than any of the young
men of New York destined 10 inherit
millions. The only time his name was
/ come into print has been in connection
with sailing his boats in regattas On
the sound or in playing polo, a sport
which he il as pasSiOnately devoted %
( as his father always has been, and IN
/ which he plays almost as good game
/ as his father does,
While August Belmont jr.. was at
Harvard ne lived as modestly as any
/ student at the university. He kept
himself as much in the background as
possible. The same passionate pride
! i'm his name and social position that
! animates the elder Belmont is one OF
/ the chief characteristics Of August, j..
! But with the announcement this week
/ of the two greatest events in his lie
| thus far-his entering on business
! career and his engagement 10 MISS
/ Alice w. De Goicouria-he may be SAID
10 have stepped into the limelight. He
/ has gone through school and college,
/ he was graduated from Harvard III
the class Of 1904, has spent a year
/ travelling around the world, ana now
/ that he has begun 10 take the nrsL
| steps that will lead him 70 the head OF
]
America he becomes public character
/ by might of his future.
| While the heir of the house of Bel
| mont resembles his father IN many
/ respects, he has given no indication
as vet of the possession OF the cholefc
| temper that his father displays at
/ times. His shoulders are broader thah
: those of the Belmont men generally
! which does not set him back any
either in playing polo or sailing his
/ half rater PintaiL Thus far he has
not shown any great desire 10 De
! clubman, for he belongs to only TWO
/ clubs-the New York Athletic and the
! L.archmont Yacht-which forms re-
markable contrast TO the long llst OF
! these institutions OF which his father
| is a member. That he loves horses
/ is certain. and he must have q sentl-
mental regard for riding and driV-
/ ing. That he is 10 be a business man
/ remains for the future To show.
To come up TO the highest eXpecta-
tons of his father August Belmont jrY
must be. first Of ALL a great banker.
| a fitting American representative OF
the house Of Rothschild. He must be
a strict business man and a Sood
sDOrtsman. but his love of sport must
always be sibservient TO that ruling
passion for business. Young August s
training viii be in house whose
methods are more conservative, SAVIOR
more of other times and other man
ners than any banking house III
America Every business day of the
wear either Mr.. Belmont or his partner
is on hand when business begins, ana
the days work is never done-ebe 1t 1
O'Clock or Z o'clock-until one of the
mariners closes the doors of the big
safe and locks it with his own hand.
An the foreign correspondence Is
conducted by a staff Of clerks VINO
write in longhand lin the language OF
tho country their correspondents live