The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1906-08-14

had been neglected under the
pressure CT circumstances, he
believed in education for others.
During the closing years of
his life he gave Trinity College
g Methodist institution in North Caro-
lima, half a million dollars. With all
his heart and mind he preached re-
!ligiOn, and education. On
one occasion he wrote that he never
closed a years work in his life without
being happy in the knowledge that he
was better off than when it began. He
was especially interested in the vel
fare of the negroes. Do honest work
for your honest dollar he told them.
Put your dollar under your pillow at
night and the eagle on its face will
sing you to sleep a it knows
you nave earned it and learn to spend
it properly More than once | have
heard him say that only by living a
G~od-fearing, honest, sober, and indus
trious life can any one be truly happy.
So, While he desired to " me go
to school he sympathiZed With my am
bitiOn to succeed in business. Our
first factory in Durham was a wooden
building, seventy feet long, forty feet
wide, and three stories high. We en-
pIoyed fifteen hands. Such was the
establishment into which | was ad-
mitted as a partner when | was
| / NCdlS o1u. II w Ioii I loiIS We
fore on" buildings covered ten acres
of ground"
"When did you come to New York;"
"In 1883 | concluded that money
could be made in cigarettes, and be
gan to manufacture them in a small
way. Our capital at that time was
$40, 600. and the business was owned
by my father, his three sons, and q
man in Richmond, Va. | came to
\i,,- Nr,,ly -; 1Cgf 49, ,;,yo tho 700
%facture Of cigarettes my personal at
tention. I realized that hand labor
was too slow and costly. and that a
machine would have to do the work.
The other manufacturers laughed at
me and We're free to predict that |
would end in bankruptcy. / spent
most of my time in experimenting
with q crude machine which | had
bought. but
1T was at this period, I
that YOU moved out of a SO room and
took one that was a dollar cheaper?"
Yes, but | wasn't prompted to do
SO by righteousness. | needed every
cent | had for my business. | toiled
all day at the factory and at night
took my cigarettes under my arm and
urged them upon the retail dealers.
Therefore, | didn't have much use for
a room. No man ever worked harder
- CHAoN nan L III wv TIT y td1o
1884 and 1890. [ am glad to say
that my labor was reasonably success
fui. | became acquainted with q
broker in leaf tobacco, q ShreWd but
eccentric man, and he loaned me $40
600; no n else in New York would
have loaned me forty thousand cents.
But he had faith in my plans and
confidence in me, and I got the none
h from time to time | bougi
$4,000 chairs, at so cents apiece,
and gave them away With my cigar
cites. The chairmaker said he was
no prophet, but he knew I would end
my meteoric splurge With the help of
an assignee. This he told confiden-
TALLY. keeping the prophecy away
from me. | think I have spent more
money in advertising than has any
lother living man. How much? FIT
" million dollars. / should say, in one
way or another. BY and by, however,
the chairmaker changed his mind
and introduced me to his banker. It
wasn't long before [ owed the banker
100000. You see. we were compell-
ed to buy our full supply of tobacco
before we manufactured it, and neces-
Sarlly had to borrow large sums of
money. At the present time. for III
stances, we have three crops stored in
our warehouses, for which we paid
nearly $4,000. 900. / was a heavy
poil oNt CT III InoSt idSS, Out lily E1idiis
were laid in prudence, and my ma
turing obligations were invariably pro-
ltectcd. | managed the business in
Durham, as we'll as here. In 1890 we
sold everything we had to the COM
pany of which / am now president.
We received $500. 600 in securities.
The business we turned over to the
new returned a profit of ST.
400 900 the first year
The market value of the shares
and bonds Of your company is $780,
000, 900. Have you that much visible
property"
NO. Factories are a small part of
the tobacco buSineSS-you can build
them any time-but brands. or trade
names, are everything. 1t takes years
md barrels of money to establish a