The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-12-28
HOW HE SAVED AT FIRST.

HOW HE SAVED AT FIRST.
1.-The first Investment of any size
made was in 1883, when | bought
half interest in the drug business
which is now the Smoot Drug com.
Pany,' says Apostle-Senator Reed
Smoot, according to last Saturdays IS
sue Of the Deserct News, 81 had a
little property then he continues,
'but / did not have all the money need.
cd To pay for the drug business. |
had only about $500 in cash and my
share was somewhat over $500. | went
TO II S. Eldrcdge, then superintendent
Of the u. G. NJ. l.. and asked him TO
lend me thousand dollars, He asked
what security ! could give. | told
him none except my honor, and what
| little property | had If he wanted that.
| He smiled and said Well, I guess you
can have it He loaned me tho thou.
sand dollars without any security. That
really was my start in business for my
self. -
The Desert News gives that out as n
fresh statement secured by it from this
world.famed fnancicr; but we find it,,
word for word, in an interview gwen
to the Cleveland Plain-Dealer IN March
of 1908. However, we III let that pass.
What we want to refer to particularly
is the manner in which Reed Smoot
got his start He is rcruted and her
aided abroad to be n shrewd fnancicr
1t must be admitted Of him that he
knew paying business when he saw
it, especially when in that business is
included the distribution Of booze
among his bibulous brethren, Many an
other man has seen his opportunity, but
has been unable TO grasp it for want of
money. Not so with Reed, however,
quered-to hear him tell it. He leaves
the unadvised reader with the impress
sion that even at that time his personal
standing in the community was such
that he could get a thousand dollar
loan merely "on his face
Let us see, though: Reed s father
was the president of the Utah stake OF
Zion, and was aside from that eccle
siastically prominent; he was one Of the
POLITICAL leaders down in Utah county;
he was largely interested in manufac
turing and industrial pursuits of various
characters, 1t was to the superintendent
of the Coop. at Salt Lake Ca personal
friend of Smoot, scnior) that Reed went
for the loan. Mr. Eldredge knew the
elder Smoot, and when Reed made the
application to him for money he knew
that if Reed event busted,' the good
Father Smoot would see TO it that the
loan was paid
That is about all there is to it.
And as to that drug business pur-
chased with the borrowed money, it may
be said that Reed still retains his in
tcrests He is a sticker, he is. The
liquor traffic of the concern is said to
be second only to that of the Il. c.
NJ, /. drug department-Gt of the all.
seeing eye and Holiness to the Lord'')
in Salt Lake. Not even when he
became an "apostle unto the Lord. -
a prophet, seer and revelator of the
did he forsake the booze
business. In fact, it became to him
more sanctifed, for it permitted him
TO "magnify his calling" in de-
gree above his fellow apostles-he made
more money than they. He knew that
f the brethren wanted booze they would
simply have booze, and he might as
well be the medium through which they
could get it--inasmuch as there was
much money gin it, Like Joseph f.
Smith, his chief excmplar in the church, |
Reed concluded that if he didn't keep
irewater the brethren would take their
trade somewhere else. 1t is such faith |
full following by Reed of the example |
Of his superior that has given him
such a close stand-in'' with the
q Mouthpiece of God.'
And that is about all there is to that
too.