Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1906-01-22


made study of his life and of the
man, have retired with the statement
We'll, l don't seem to know much
more now than before. He simply
is man of energy, exactness, hon
esty AMI correct business methods"
This probably epitomizes the infu-
ences or reasons leading to his great
success. He was richer than most
people imagine. Good judges place
his fortune at point nearer $780,
100000 than half that figure. And he
did not get such an early start. He
was born August Is, 1885, on little
farm near Conway, Mass. There he
spent his boyhood days When he
was II years old he went to work in
country store. He went to Pitts
field, for many years the largest town
in the Berkshire hills, and laid the
foundation for his career.
After four years in that manufac
turing city he discovered that the OPP
portunity he was seeking did not pre-
sent itself There was nothing more
for him in Pittsfield, and one morning
he decided to go west. He had
heard of Chicago, so he packed his
belongings and came toward the
scene of his future achievements.
The young man sought employment.
He told of his experience in the east,
and without much difficulty obtained
"a place as clerk with Cooley, Farwel!
& Co., wholesale drygoods house.
He remained a clerk a year or two,
when mis- employers promoted him.
In 1860 ne was taken into partner
ship, and from that day Marshall
Field's fortune was firmly established.
The company was partially reorgan-
I5ized in 1865, the new firm consisting
of Mr.. Field, Levi q. Letter, a hustiing
young fellow clerk of the Massachu-
sets lad, and Potter Palmer. The
new name was Field, Palmer & Lett
er. Again, in two years, there was
another change in the partnership,
Palmer Withdrawing, and from that
time until 1881 the house was attract
ing trade and gaining reputation I'M
der the name of Field, Letter & Co.
Mr. Letter retired in that year, and
ever since the business has been con-
Quoted under the title of Marshall
Field & Co.
Lost in Great Fire.
Nearly every newspaper reader is
more or less conversant with the rest
of Marshall Fields history. With 9th,
ers he lost heavily in the great Chi
cago fire of 1871. The retail store
was then, as now, at State and Wash
ington streets and its loss amounted
to $3,500,0O0 Eventually $2,500,000
in insurance was collected. Mr..
Field reopened the business in old
car barns at State and Twentieth
streets. Workmen at once began
removing the debris on the downtown
site and the building which for TWEEN
ty years served as the retail estab-
lishment of the company was reared.
Five years ago the large and 1mpos-
ing addition which now forms the
major portion of the structure was
erected and at present another add
-stTuctlon
The wholesale business of the firm
was being developed during these
Years, and from the separate whole
sale house at Madison and Market
streets, put up soon after the big fire,
to the magnificent establishment
filing the block between Fifth avenue
and Franklin streets and Adams and
Quincy streets was the measured step
of decade of progress.
When the flames wiped out Chica-
COS substance thirtyfour years ago
the firm of which Field was a direct
ing spirit did business aggregating
s8.0OO;0O0 yearly. After twenty
wears the total was $35,000,G00, and
now 1T is estimated at twice that fig
ure.
Marshall Field not only made mon
CIV with machinelike precision and
repetition but he cleverly invested
his savings He early bought large
blocks of stock in the Pullman COM
pany. He became interested in Chi
cago e Northwestern AMI other rail-
road properties, which have remained
for years the standard and reliable
dividend payers of the nation.
He got in early as a real estate in
weston. Believing in Chicago and
foreseeing it's future place among the
commercial centers of the universe
he ACQUIRED vast tracts of land with
in the residence and business Sec
tions. 1t was simply matter OF
time for these possessions to increase
i'm value by such leaps and bounds
that to own any one of them meant a
comfortable little fortune.
Averse to Publicity.
Marshall Field was the marvel OF
his competitors. Yet he went ahead
without the sounding of trum-
nets. He was averse to a1Ver-
Using himself or his achievements.
He has given large sums to charity
and religion, and has subscribed lib
orally to the arts and sciences, but
the less said about it the better he
liked it. Once newspaper called