The herald., 1913-03-13
IN The COURSE
OF BUSINESS

Rogers was a builder. To finance
his operations he had to borrow heav-
lily, giving his property that was I'M
der construction as collatral. One
of the men who lent money TO him
was a Jew. At first Rogers pros
pered, but later things began TO go
badly. One trouble after another
overlook him, and late one night he
went 10 bed knowing that on the NOR
row he would have to confess to his
creditors that he was insOlvent. Even
then he might have escaped with his
financial skin whole had he chosen to
avail himself of some lOophole of the
law-some chicane that might strip
him temporarily of his self-respect,
but leave him a fair share of money.
But instead of doing anything that
was in the slightest degree dishonest,
he met his troubles like a man.
One of Rogers creditors was the
Jew. He went to him at once and
said: Il can't go any further. I'm
up against a blank wall. The money
that ] owe you | see no means of pay
ing. You have a mortgage on one of
the houses. FOreclOse il at once in
order to protect yourself. That is your
duty. If you lose anything and | can
ever make up the loss to you | shall.
Rogers. having no capital to operate
with, tried several salaried positions,
and at last became one of the ap-
praisers for a great life insurance COM
pany, passing upon the value Of the
real estate and buildings that were
offered as collateral for loans. After
he had been at this work two years
the Jew called on him at his office
one day and handed to him a check
to his order for $1,000.
What's this?" asked Rogers in
amaZement.
THAT represents the profit on the
building you mortgaged to me two or
three years ago and which l have
just sold"
Profit? What have to do with any
profit?"
Il have repaid myself for the
| amount of my loans TO you. | have
| added to this interest and all charges
! to which have been subjected in the
| transaction. After deducting this from
the price have received for the prop.
! erty there is a remainder of $1,000
That money belongs to you. That is
why l give you this check"
Rogers put the $1,000 check in his
pocket. There was suspicion of mois
ture in his eyes and a catch In his
voice as he thanked the Jew, who went
his way hastily.
In the days that darkened the close
of 1907 the life insurance companies
literally were begged for money by
Everybody was turned down." yet
everybody begged and begged. One
man in asking for a loan on his prop
erty said if he did not get it it meant
ruin to him. The appraiser reported
favorably, but even as he wrote the
report he knew the application would
be denied. And it was rejected fatty
and CURLY. AS the clerk was carrying
the papers out of the controllers Office
Rogers happened by. A name Endorsed
) on the folded sheet caught his atten
ton. He asked a few questions anC
then looked at the paper. In a f1asf
he realized the whole situation. The
name on the bach of the paper wa:
that Of the Jew, and II that loan wa!
rejected his friend would be in dir'
: financial straits.
Though Rogers was only an apprais
: era small item in the great staff o
, the insurance company-and though
! he knew that he was risking his hum
bio position by doing so, and tina
meant everything to him in those hart
controller, an austere gentleman VIII
was hedged about by many assistant
and by much authority. He told tn
/: controller wildly and simply the stor,
Of his own failure, Of the foreclosur
: Of the mortgage by the Jew and Of tn
E $1,000 check two years later.
: The controller listened attentively
and the first words he said were owe
9 the office telephone to the clerk VIII
had charge Of advising the would-b
borrowers of their loans and Of thei
$ fate
. Send those papers in that Cohe
r loan application up to me at once"
. q When they reached him the contro
: Ter looked them over and, turning I
+ the appraiser, said:
"I'll make that loan. BY the Lor
:, Harry, If it was the last dollar that thi
e company had to lend l would let tina
: man have it,"