Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1911-11-02
THE
IRON KING"
BY DAVID C. HARTLEY


York, was an irritable man and a
sungy one. BIS business was spec
ulating In iron. and to do this success
fully he was obliged to secure infor-
nation from all parts Of the world as
to the production. consumption, stock
on hand and such other items as tend
ed to nx the price of the metal.
Hooker gave his sisters son, Edward
Earle, position In his office. At TWEEN
ty-hve, though the young man was
manager Of that branch of the bust
ness which pertained to information,
he was paid but twelve hundred a year.
On this he supported his mother, a
wife and two little children. He
| chafed under his uncles stinSiness and
on one occasion asked for more salary.
BE was informed that II he could do
better elsewhere be was welcome to
go. The young man appreciated the
provero "A rolling stone gathers no
moss and remained where he was.
One day Hooker informed his clerk
that he wished him to go to England
10 investigate the condition of the
market there. He furnished the young
man with a second class ticket on an
ocean liner and barely enough money
to pay his board and travel third class
between the principal English iron
manufacturing towns.
One morning Earle, who was In
Sheffield, arose and while breakfast
Ing with his paper before him saw a
notice Of the failure of an iron firm
located in the neighboring town of
birmingham. The concern being a
small one Earle attached little impor-
lance to the failure, but during the
day a business acquaintance who had
an interest In favoring him gave him
bit OF secret information that caused
him to change his mind. 1t was be-
heved that the failure would involve
a larger firm, that firm would involve
number Of others, and the whole
community OF iron firms in England
would go down like card houses. This
would throw large lot of iron on
the market that had been held spec
ulatvely for rise, and consequently
the prices would fall considerably.
There was no Atlantic cable in those
days, so Earle wrote the information
be had received, giving his opinion
that crisis was at hand and advising
Iron he had on hand. The ship bear
ing The letter had no sooner sailed
than the second firm In line failed
This caused Earle to feel still greater
confidence In the information he had
received, and he had no doubt that
all he had heard weuld be realized.
The young man proved himself ad-
mirably fitted to assume responsible
lty. He took a risk that would make
or break him. In the name of Hooker
Il Co.-he was not authorized to sign
the firm name, but It was not known
he contracted to deliver thousands of
tons OF iron at a figure below the mar
ket price, the iron to be delivered in
ninety days. This done, he took the
first steamer that sailed for America,
the one that bore the news Of the iron
panic in England.
On the morning OF his arrival he
went straight to the office. There
sat Mr.. Hooker at his desk with a
morning paper before him. Earle
caught sight of large headlines an
nouncing the tumble of iron in Eng
land. 1t had been sent from Sandy
Hook. Hooker was white as a sheet.
head Of the firm to his employee.
why didn't you write Of the begin
ming of all this? I'm ruined, l had
an immense stock on hand, and, learn
ing Of a shortage on the continent.
bought more"
Il wrote by the last steamer, giving
| you information that pointed to this
result and advised you to sell out all
the stock you had"
"Your letter never came. You should
have brought the information your
self"
Are you sure about the letterT'
James," called Hooker TO a clerk,
ARE there any letters that have not
been delivered to me?"
There was one came, sir, a few days
ago. You know that you ordered all
letters on which the postage was not
paid IN full to be left at the postoffice.
| There was 8 cents due on this one, and
I refused to pay IT."
"Oh, heavensP' groaned Hooker.
'Was it from England2" asked Earle
| OF the clerk.
Il think it was
ut must have been.a mistake of the
clerks at the British postof1ce. i put
on stamps to cover the cost as he quot
| ed It to me-"
Rockers head dropped on his desk.
Irritated some time before at receiving
unstamped letters lat that time such
letters were delivered), he had given
orders that all mail on which any
money was due should not be taken
from the postoffice. For refusing to
pay cents he had been ruined.
"How much iron have you on hand?"
asked Earle.
"a hundred thousand TONS" groaned
the Spectator without taking his head
or his desk.
"Wel, Mr.. Hooker, cheer up. It's
not so bad, after all. took a big risk