Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-05-26

Andress s. Floyd, head OF the Self
Masters Colony Mt Union.
ford & Co. were one of the largest wire
houses engaged in a grain and broker
age business in the United States. They
were members Of the Consolidated
Stock Exchange, the Chicago Board of
Trade and the Milwaukee Chamber of
Commerce. Previously Crawford and
Floyd had been tourist brokers in Bos-
ton. 1t was they who managed the
disastrous Christian Endeavor excur-
sion to Europe, when several hundred
persons were left stranded abroad in
the summer of 1900 because hotel-keep-
ers and others refused to honor the
coupons for board and transportation
which the tourists had purchased from
the Boston Arm. 1t was explained at
that time that they had been obliged
to suspend payment after the burning
of the North German Lloyd vessels at
lHoboken.
Newarkers Interested.
Floyd did not return to Wal street.
after his failure, and nothing had
been heard there from him in the four
years intervening, except some word OF
a divorce suit from Massachusetts.
Then, last Sunday, he lectured in Car
negie Hall on the work of his yagrancy
colony.
The Self-Master Colony is supported
by private contributions to the Address
S. Floyd Fund, of which the repository
is the State National Bar of North
Plainfeld. The trustees are William A.
I Clark, of the Borough National Bank
of North Plainfield, and Alexander G.
Interest, of the Metuchen National
Bank. On the advisory board are
Howard A. Colby, brother of Senator
Colby, and Charlie H. Ingersoll.
Mr.. Floyd said:
II look back with a great many re-
grets," he said, upon my past life,
especially on my Wall Street expert
ence, In which l not only ruined myself
financially, but brought heavy losses
to men whom I felt to be my friends.
The suffering that was caused through
that financial failure determined me to
try to live a constructive rf,he than
a destructive life, and finally how
difficult it was for myself to get on my
feet. 1 thought how much more diff
cult 1t must be for a man without busl-
ness experience or friends 20 gain a
footing.
MY sympathy went out Immediately
t men who had brought their w
lives to the verge of ruin. l decided to
surround myself with a few CT these
men who need encouragement and
direction and to show them that I not
only understood them because Of my
own sufferings, but that 1t is not i'm
possible for a man to restore himself
to the confidence of good people by
clean and unselfsh living and by hon
est industry.
The four men who lave been most
solidly back of his work knew my
whole story before any of it was start
ed. 1 went to Mr.. Colby at the very
beginning. Go ahead, Floyd ..-e said,
and gave me the $1,000 that made the
beginning possible. For my own part,
l had only 500 in my pocket. They are
standing behind me still"
1t should be said here that later in
the evening Mr.. Colby was called upon
for his testimony, which he was very
ready to give. He said that from the
very start of the Self-Master enter
prise he had known the Details Of Mr.,
Floyd's previous business adventures
He added that he was familiar with
the ''bucket-shop" part, and he said SC
in a manner which suggested that by
cones were bygones.