Mountain Home maverick. [volume] (Mountain Home, Idaho) 1906-1911, 1906-09-06
POSTAGE STAMP
FINANCIERS
On an Investment of IA
Gents one of Them has
Made Millions.

original postage stamp" financier
OF the land, says New York CORE
spondent. White cleaned up more
than So, 600, 600 in the rise of Union
and Southern Pacific stocks.
He did two sensational things.
One was to buy the great palace
near Long Branch, built by the late
John A. Mccall, former president
of the New York Life Insurance
company, and whose death was
fastened by the recent scandals,
and the other was to make Samuel
Byerley vice president of bonding
company organized by White.
Byerley is the express clerk who
made a small fortune in buying
United States bonds on nerve. -
1t is just 10 years since White
invested "A cents in stamps to send
a letter to Secretary of the Treasury
John G. Carlisle, bidding on 49,
000,0 worth of bonds. He got
them, and bankers were glad to
take them off his hands at $500, 600
profit to White
''I've got warm spot in my
heart for postage stamp bidders, "
he said, and | have proved it by
making Sam Byerley an officer
in the bonding company. He has
shown that he has the business
courage and judgment which push
es man to the front these days. "
Speaking of his great winning
on the market, White said:
81 came back from ST. Louis
about six weeks ago, and every
house in the street was bearish
then except Wolf & Co. | had been
studying Union Pacific and South
ern Pacific for long time, and felt
confident that both would have a
tremendous rise before the end of
the year. Of course, didn't know
when they would begin to move,
as am not in the confidence of Mr..
Hartman or any of the giants of
the street l am no novice in Wall
street matters, having had many
ups and some downs in the last
dozen years. 1t wasn't necessary
for me to be in the secrets of Mr..
Hartman to know that the shares
of both his roads would sell higher.
Il watched the market every day,
sitting alongside the tape from 10
a. m. to 3 p. m. for 10 days before
made trade. Then l bought my
first lot of Union Pacific when
thought it had touched bottom on
the downward movement. l got the
stock at 40. The lowest price it
sold at in that movement was 1891,
so my calculation wasn't far out.
IL bought it slowly up to $50,
and then began to buy it like six
ty. l bought it right along to 100,
and didn't stop buying Thursday
afternoon when some people got
cold feet and went short because no
dividend announcement was made. -
Mr.. White had on his desk a
stack of slips from various broker
age firms which contained records
OF hundreds of purchases, ranging
all the way from lots of 100 shares
to IS, 000-share blocks. 1t is doubt
full if he knew himself the total of
his purchases. He began buying
Southern Pacific in the COS. and
bought it all the way up, as he did
Union Pacific. To all questions
regarding his profit he fought shy,
but when asked if he would sell his
winnings in Union Pacific and
Southern Pacific for $1,000, 900
each he hesitated a moment and
then shook his head. His profits
are said to have exceeded $4,000, =
600 at the time the stock exchange
closed Saturday noon, August is.
The new owner of the Mccall
place had rather a peculiar start IS
financier. He is now 40 years
old, and came to this city from
Texas about 20 years ago. He
was born in LAGRANGE, Texas,
and started out to support himself
when he was II years old. He
had made considerable money be-
fore he was 81, but has always been
a speculator, and had many ups and
downs in the first year of his bus
mess career in this city. After
going into many ventures he specu-
lated heavily in upper West Side
real estate before that part of the
town was extensively built up.
Mr.. White had one of his rever-
sails of fortune during the panic
year Of 1898, and for the next three
years he was not sailing on the
high tide of prosperity. 1t was in
1896 that he first blossomed out as
a financier.
1T was ell on account of an ed