Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-27
COST CENTS TO MAKE $4,000.
Samuel Byerley Tells How He Won
Panama Bonds.

As a result of his postage stamp bid
for S5,So6.Ooo Panama canal bonds, Samuel
Byerley, an express clerk in New York city,
who was allotted that amount by the Treas.
ury Department yesterday. closed deal
for the sale OF the bonds which netted him
$1,000.
Byerley's cIeverness called forth praise
and congratulations from bankers and hroS-
ers in Wall street, who pointed out the fact
that his success was not due alone TO a
lucky bid" but also to the good Judgment
he displayed IN the figures of his bid.
He had further cause for generalization
by reason of the fact that his employers.
realizing his ability, raised his salary and
promoted him to another department. Ha
has been for years a clerk in the accounts
ing department. and when he received q
summons yesterday to appear in the execu-
tive offices. he went there with considerable
trepfdation. He was informed that his SAL
airy had been increased. and that he was
transferred to a more important post, IN
the treasurers department.
j. S. Bache a Co took over the bonds
from Byerley and sold them to Fiske &
Robinson. w ]. Wollman of j. S. Bacho
& Co. said. in speaking OF the matter Mr..
Byerley came to see me regarding his bonds
last Saturday and gave option on
them until noon today. We sold them to
Ffske & Robinson"
Bankers interested in the deal refused to
make known the exact figures of the trans-
action. but there was a sufficient margin
TO assure 10 the three parties inter-
ested. In procuring Byerleys allotment
Fiske & Robinson get $50 $4,000 OF the
Panama bonds. or about two-thirds Of tho
entire issue. they having been awarded
Sl5, 600 600 worth.
When seen last night In his home MIR.
Byerley admitted that his original invest$
ment of a two-cent stamp had netted him
$1,000 besides a promotion, raise of sal.
airy and a vacation. 80
THE treasurer called me into the Office
today said Mr.. Byerley, land / went with
some trepidation. l was asked how long
l had been with the company. Five years,
L said. suppose you identified yourself
by mentioning your employers without their
knowledge. was the next cool remark I
protested that l had met no difficulty In
maintaining my obscurity Well I am
AFRAID we will have to give you vacation
from this publicity l thought I was fred
until 1t was added. Come back or October
L. Mr.. Fargo wants you with him. SO
my wife and I start for Europe az soon as
she can get ready. / am ready now.
There was one back of me in my bid,
and not even my family knew / was maxi
Ing 1t until the day l sent II In / first
learned that had been successful from an
exclusive dispatch to the New York Herald
from Washington. l called up Secretary
Shaw on the telephone and received conflr-
nation; Then my real work began. l was
naturally very anxious at first, as would
nave been placed in a ridiculous position
had L failed to find customer As 10
turned out. could have sold several mill
lion more IL l had been awarded them
received from another bidder tonight an
offer TO take over his allotment of 500 OOo
He bid 1915. He will have troubles of his
own, Fiske & Robinson are naming a
price at 1o4. 40
As to his bid. Mr. Byerley related how
ne mad been more or less intimately ASSOC
ciated with bond and financial matters dur
ing his entire business life of eighteen years
In the business office of various western
railroads and several years with the Pa
enc BANK during its meteoric career in
financial offices of express companies The
announcement of Mr.. Shaw that no deposit
would be required with bids showed him an
opportunity and he began an exhaustive
study of the situation