Kingsbury County independent. (DeSmet, Kingsbury County, S.D.) 1894-1929, 1911-08-18
FROM A BLACKSMITHY
TO IMPORTANT POST
Remarkable Career of j. j,
Townsend, President of the
Chicago Stock Exchange.
From the New York Tribune.

From the blacksmith's shop to the presi-
dency Of a great stock exchange is a leap
that, to a penniless boy, appears almost
as long as from the r~ailsplitter's job to
the presidency of the United States. New
ertheless the transition Is easy of accom-
plishment, in the view of Jimmy Town
send, who laid aside his hickory shirt and
jeans trousers 20 years ago to become a
broker and is now the head Of the Chicago
Stock exchange.
Wall street knows this successful black
smith-broker as James J. Townsend,
member of the New York Stock exchange
and stickler for safe Investments rather
than negotiator of speculative deals. In
Chicago almost everybody likes him be-
cause Of his Quaker integrity and demo-
cratic ways and dubs him plain Jim, or,
more Familiarity. Jimmy.
When he migrated to Chicago from the
little Quaker town OF Lima, Pa, a
stranger among all the hundreds OF thous-
ands, with less than 81 in his pockets, he
was compelled to earn the right to toll for
a livelihood by means Of thrashlng the
terror of the shop" in a fist fight with
bare knuckles. Victory brought him a
job at S. a week. Within a few years he
became the boss IN a blacksmith shop Of
his own, with net profits Of $50 a day,
SiA h1o III IIIiIlOIS SSal6 ScildlOI- fAS4NlS
from being president of the Chicago Stock
exchange, he is a member of the Board
of Trade and a thorn in the flesh of bust
ness men who would stretch or ignore the
laws for financial gain.
Hard to Find Job.
AS many another country boy has done,
young Townsend tramped from place to
place in the western city. At each, after
ne had applied for work and given his
qualifications, the boss would grunt:
"Humphl What can you do in a city
smithy? Go ahead now-get out!" He
was down almost to his last cent and
somewhat discouraged when he walked
into a west side shop and asked H. H.
Martindale for a place. At the forge
stood a man six feet two inches tall and
pToportionately robust, who held a pair
OF tongs with the grip Of the giant he
was.
Can you fight" asked M~artindale of
young Townsend, who, though only a
boy, showed a sharp and powerful frame.
I can fight for a job, SIR replied the
~youngster.
IF you lick that fellow over there at
the forge I'll give you a job" said Mar
tindale, who, in justice to his memory, it
should be said was not serious when he
made the proposal. He believed the very
appearance Of his ~strapping workman
would take the fight out OF the appli-
cant for work II there was any in him.
When he found young Townsend was in
earnest he explained:
"Tha fellow is the terror of the shop.
We can't keep any man at work with him
because he is so ugly n pounds every
one he sees fit; but he's so good a work
man we can't discharge him. He got
mad at a helper the other day and stuck
a rod hot iron, trtn Il- 49, -A.,t
feel that you can lick him.
Licked" the Bully.
"Pl try, sir, for a job" said young
Townsend, who flew at the shops terror
as he spoke.
The shops owner and an ever increas-
ing crowd of onlookers formed a circle
around the horseshoeing floor and TANNED
the big double doors while the battle
ragged. After an hour and 20 minutes Of
fighting the terror" took the count. and
the boy stranger turned to Mr.. Martin
dale with;
do L get the job?"
you do" replied the shops owner, then
one of the best known blacksmiths in
Chicago, but now gathered to his fathers.
The customary g~enialty was pictured on
Mr.. Townsend's countenance when he re-
turned to his desk after comforting with
his partner, SO the newspaper man made
bold to repeat, this story to him and ask
If it We're true. The question drew a
broad smile.
Il haven't told 1t in 20 years." he said.
When i lived in Lima boxing was nv
stronghold. We used to go over to Al
Clark's in Philadelphia every Saturday
night and / enjoyed the settos. So I
wasn't afraid Of anybody. I was big and
strong, and when l had opportunity for
a job / saw I'd better grasp II. That's
the way boys get along. by watching for
an opportunity as they work and Selling
1t when Il comes along. Some people saw
advancement is due to luck. 1t really
comes from keeping your eyes off the
clock and looking for opportunity. 1t took
just about all / was good for, but l won
that fight and never had trouble with nv
opponent. He was shot several years
afterward in Kansas City"
Try, Try Again.
Later I went to work for Jameson &.
Co, of Chicago" said Mr.. Townsend.
land they set me to cutting the coupons
off $780, coo of gas bonds. 1t was the hard
est work ! ever did. l had to use a pair
Of shears. My thumb got tired and then
cramped. 1 stopped, and one of the firm
1 ever fell down. / clipped all those cou-
pons, got messenger and other work to
do and after a time was sent on the stock
time I started my own business, was sue
ners and here / am-that's all there is to
Don't let anybody make you his slave;
trx, ~ N ooip ro