The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-04-17
WHERE OFFICES ARE
NOT NEEDED
Many Big Deals Are Made in
Places That Are
Peculiar.
]. P, MORGAN'S BIG DEAL
CLOSED A MILLION STERLING
DEAL IN A TAXlcAB.

| London, April 16.-That amazing man,
Pierpont Morgan, recently completed
deal involving over million sterling
in a taxicab, on the way to his Wall
| street office. To us on this side of
the Atlantic there is something trifle
STACEY about such methods.
Yet here IN London never a day goes
by without transactions involving very
large sums of money being carried
through in the open streets. Visit
Shorter's court at o'clock in the even
ing during a New York boom" Six
O'Clock in London is L p. m. in New
| York, and the height of activity on
/ Wall street. So, although our own
stock exchange has been closed, Lon
don brokers, standing along the pave
ment, call out bids and offers from
group to group.
Nine years ago, when the powerful
groups OF capitalists were fighting for
the control of Northern Pacific stock,
with the result that prices scared to
amazing figures, tens of thousands of
pounds worth OF shares changed hands
in the open London street.
Again, during the last great "Kaffir
BOOM" the crowd of brokers dealing in
South African shares after hours be-
came at times so great as to require the
services of the police to clear Throg-
morton street.
Visit some Of the little restaurants
near Hatton Garden about lunch time.
You viii frequently see man pull a
crmnpled envelope from his waistcoat
pocket and tip its cOntents-a stream
of many-colored fire-into the palm of
his hand You realize with gasp that
Il nd oh 9
you to think of gems of such price
being so careiessly handled. But with
the diamond merchant familiarity has
bred contempt, and under your very
nose a deal in thousands of pounds
worth Of fresh-cut gems may be rapidly
carried out.
Was it not the late Barney Barnato
who when going through the Kimberly
works with Mr.. Rhodes, casually Of
fered to buy all the rough diamonds
mined during the previous year?
"All right" replied Mr.. Rhodes. But
let US first have them photographed"
This was done, and Barnato there
upon made an offer-something like
three millions. we believe. 1t was ac-
cepted and, taking the stones, he sent
them to London and Amsterdam.
James Patten, who came nearer to
cornering wheat than any other oper-
ator for a generation, is a man who
has never considered that a first-floor
office, a rolltop desk and a doorkeeper
in livery are essential to a business
deal. One day one of Patterns clerks
ran in to ask his employer his de-
cjsion on a point that involved a loss
or gain of many thousands. He found
the Corn King in the street getting his
boots blacke1. Patten would not stop
the boothlack, but, resting a scrap of
paper on his knee, wrote his directions
in pencil and gave them to the clerk
That night Patten counted his gains
at 100000 pounds.
Mr.. Schwab of Steel trust fame, is an
other of the quick-oeal millionaires
Nine years ago, when motor cars were
less common and more costly than they
are today, Schwab went to Paris At
his hotel he was introduced TO a French
man. The talk fell on motors. Schwab
had never owned a car, but the French
man was an enthusiast.
Come down." said the latter. zone
of my cars is at the door. 1 viii show
it you"
Schwab looked at the car.
How much did it cost your" he
asked.
Sixty thousand francs"
''Will you sell? Because, If so, I'll
buy"
yes. Fifty thousand francs"
'I'll take that, too" And pulling out
a checkbook from one pocket and a
fountain pen from another. Schwah
there and then wrote a check for 10000
francs and handed it over.