The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1907-09-26
STARTED FROM NOTHING
Yevns Texan win pien,y ef Nerve
Having Successful ca.
reer on Wall
Street;

81 49, ~ sN tAAg u -1N a. "a AA1f
before b. struck out for New York
20 make a tortune-astonishsd Wall
stree; last week Che has a habi, OF
astounding Wall street. BY bidding
Cor the entire $4,000. 900 city bond
issue. He not only bid for the en-.
tire issue. but drew a d5a't for
$500 900 and handed 6; IN with his
bid a. the ? per cent evidence OF
good faith demanded by the comp.
troller
When It was discovered that
White xould be awarded not far
from half the entire issue. Wall
street sat up and took notice. On
what bank could White draw a draft
for $500 900? II was drawn by White
on his own $4,000 Greater New
York Security company. a wireless
telegraph promoting concern almost
unknown 20 the banking world. II
was accepted by his little private
secretary. r H. Robbins. who wrote
on It Accepted r H. Robbins.
treasurer" That made the stree;
gasp.
White. seated comfortably In one
Of the great chairs Of the great
foyer hall Of his country house on
the Jersey shore. talked comfort.
ably OF 100000 drafts and $4,000.
900 bond issues. and promised in
/ an ofhand way 10 turn in the r ST
Of the sl5.OOO.OOO or s2O.OOO,O0 to
the comptroller ahead Of time. II
the comptroller really needed the
money.
The refusal 10 honor the draft
when It was pres, nted for parment
by the officials Of the Guardian
Trust company the city depository,
relieved the street Of its excitement.
/ White handed in sl50O.oOO In gold
at the subtreasury in 1896 when he
Gid not have dollar in the world.
+ so why should he be worried about
digging up few millions in 1907.
when he Is the lord of one OF the
greatest estates on the Jersey shore?
Abri ham White, the shrewd, sharp
eyed. soft-tongued fortune hunter
from Corsicana, Texas. has made the
dollars multiply over night in the
stock market-he has run a shoe.
string into a fortune more than once
and II is not 50 astounding after
all perhaps. 20 an1 h.m drawing an
100000 draft on a peripatetic stock
selling compsry and stating his
willingness to loan few millions OF
money TO the City Of New York.
Up to 1896 White had never been
heard of-that is. not by the gossip.
ing world that knows all the nota.
bles by their first names. White,
a few years before. had come from
Texas stocky. red.halred boy. keen
for fortune making. He had picked
up a little money here and there,
enough to take little flyers" In
stocks and dabble In unimproyed
rock-covered city lots He made
some lucky turns. and then came M
| Cleyvland's famous appeal to the
country for gold to replenlsh the
treasury reserve.
White saw chance 20 make some
mon, y-and II was time when he
needed II, for his purse was empty,
I Fortunately for him. Secretary Car.
| Isle asked for no deposit on the
/ bids. White nosed around Wall
bankers would offer. Then he bold
| ly made out string OF bids
$1,000 600 all told-and sent them
| by registered mail (at a total outlay
OF ~ cents) to Washington. When
the treasury announced the awards
there was the name OF Abraham
White with il.500000 opposite. The
success OF the sale, at a tins when
the administration was hard put 10
It to preserve the government credit,
was so instantaneous In its effect on
public sentiment that at once the
bonds were quoted In the open mar.
ket at a substantial premium over
the sale price.
White went to Russell Sage and
told his story, and Sage, not avers5
fn hu rfNaa,
hundredodd thousand dollars, iinanc.
ed Whites bid. Out OF this clean.
up White got his start in Wall
street. In the approved. modern
fashion he organized his Abraham
White Bond company after his 90