Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1906-02-14

them at an advance over what he had
paid for them. The results of the bust
ness done during the war were some
thing phenomenal. At that time the
money of Illinois and all money was so
far down in value that you couldn't buy
dinner with Illinois, money across the
state line. So it was that the man who
bought the most goods under such con-
ditions made the most money. Potter
Palmer made the most money of any
man in Chicago at that time in proper
ton to his capital. The money which
Messrs. Letter and Field made in part
nership with our firm made the two
competent to buy out Mr.. Palmer at
the close of the war;"
-Messrs. Field, Letter and Palmer-he
considered the ablest business man, Mr..
Farwell replied:
Il believe the ablest business man is
the man who stays the longest in. bust
ness and who has made the greatest
success of it. Mr.. Field was at the top
of his business career and active on
the day he died, and think that an
swers the question.
'Mr. Letters particular forte in the
management of the firms business was
in handling the finances.
MI. Fields Strong Faculty.
Zone thing which contributed largely
to the success of MIR. Field was his par
ticular faculty and success In choosing
his under managers. He was always
particularly fortunate in the men who
were associated with him, and this is
shown by the number of men who have
retired from the firm wealthy. He in
trusted the management of the store
to the heads of departments largely,
but he always remained the supreme
head to see that everything was run
with the minimum of friction. He al
ways put the right man in the right
place, and every one in the employ of
the store knew that he would receive
exact justice in his dealings with the
head of the firm.
'This is one of the greatest elements
which make for the success of bust
ness man. When I started in business
I had practically to run the depart
ments myself. In Mr.. Fields establish
ment you never found anyone fighting
him. He knew all his old employees
and always recognized them when he
met them.
"In common with other successful
business men Mr.. Field did not possess
the strongest confidence in other peo-
pie in large business dealings. He
wanted to be certain of his ground be-
fore he made advances. There have
been, many failures in the business
world entirely attributable to overcon-
fidence in human nature"
His One Speculation.
One. striking thing in, connection
with the career of Marshall Field was
the freedom from speculative tenden-
cies so marked in the majority of the
men who build big fortunes, and per-
haps this was owing to an experience
which he had in the early years of his
career. 1t was during the days follow
ing the discovery of rich gold deposits
at Leadville, Col: A prospector in
duced Marshall Field and three other
men to buy gold mine. Big strikes
were being made daily, and enough
work had been done in the camp to
demonstrate to even conservative bust
ness men that the district was rich in
mineral. The original investment made
by Mr.. Field and his associates was
small $4,000 each. The owner had
submitted ore samples of great rich
ness, and the prospect was promising.
It did not take the buyers long to dis
cover, however, that they had bought
a pig in a poke, = or, In the sparlance
Epf the mines, a sailed claim.