Evening journal., 1913-02-07
NEW NEWS OF YESTERDAY
The Son Who PrOfited by
His Fathers Lapse Of
Memory
BY uoIIsnd.

The late p. b. Gallaudet, who was
for many years a leading private
branker and broker OF New York and
who was a member of the dlstin-
guished family OF that name which
has done so much for dear mutes, told
me q short time before his death that
he had frequently observed that men
OF great wealth, and especially those
who prided themselves on the faith
fulness with which they attended to
details, sometimes forgot that they
were owners OF stocks and bonds OF
considerable value.
II think the most impressive Illus
tration OF that weakness which came
under my personal observation was
that furnished by a very rich manu-
facturer Of New Jersey, who was a
customer OF my house" said Mr.. Gal
.audet.
This man accumulated a fortune
of nearly $15,0000 900. He often told
me that he had gained his wealth by
the faithfulness with which he fol-
lowed up every detail Of his business.
He said to me that on the first of
every month he knew to a dollar what
he was worth. He had an elaborate
system Of verifying accounts and also
of keeping schedules OF his possess
sions. He prlded himself on the fact
that no man had ever been able to
oyerreach him in business transac-
tion. One morning his son came into
my Office and said to me-
~ have just made an astOnished
discovery. have been to the safe de-
posit vaults to get some securities for
my father. He has a list of all the
securities that he owns OF at least
thought that he had such a list, as
we'll as the places where they are
kept Now / discovered this morning
q package OF railroad bonds which
bear eight per cent. interest. My
father has utterly forgotten them.
They were tucked away in one corner
of one of the safe deposit boxes and
/ discovered them only by accident.
Here they are
"When ] looked at these bonds. "
Mr. Gallaudet continued, 81 saw that
the coupons had not been cut off for
10 years. The aggregate interest
amounted therefore to large sum.
The young man said TO me that he
was going to ask his father if he
might have any bonds that his father
me for safe keeping
"A day or two later the young man
came in with his father. He said to
his father in an offhand way If 1
found any bonds of yours that you
had forgotten would you give then,
TO me?' and the father replied that
he would not; adding, however, that
he had not forgotten any bonds.
I'll Ir
would you give me any interest that
had accunulatedg
You are welcome to all the in
terest which / haven't collected Oil
my bonds his father said.
81 was then asked to produce the
bonds. / never saw anything more
amusing than the expression on the
old mans face when those bonds we're
shown him. He looked puzzled for a
moment, and then slowly recalled the
fact that some years earlier he had
bought those bonds, put them away
and forgotten them. But he kept the
bargain. He told me to cut off the
coupons and give them to the boy.
did that and then the old man took
the bonds and put them in a large
wallet which he carried in an inside
pocket He went away humiliated. |
thought, at the idea that he should
have forgotten that he was the own
er of considerable property of this
kind.
Copyright 1918, by e. j. Edwards.
All rights reserved)
Tomorrow Mr. Edwards will tell
How the Millionaire's Daughter Or
tanned Some Pin Money"