Evening journal., 1913-09-08
NEW NEWS OF YESTERDAY
How Daniel Lamont Was
Advised
By Holland.

By Holland.
When Colonel Daniel S. Lamont re-
tired from public service as secre-
tary to President Cleveland at the
close Of Cleveland's first administra-
ton. in March. 1883. he was assured
Of a rcmunerative and responsible
post, for he had been brought by
William G. Whitney, who was secre-
tary of the navy In Clevelands hrst
administration, into active association
with the latter, who planned AZ that
time unification OF all traction sys
tens upon Manhattan Island and ul-
timately all in Greater New York.
spent an hour or two with Colonel
Lamont one afternoon at his Office
in New York city chatting most of
the time about the incidents-some of
which were very dramatic-of the
winter session of the Albany Legis-
lature in 1880 Colonel Lamont and
were at that time Albany correspond
ents, he serving in that capacity in
additional to editorial duties upon the
Albany Argus
81 am very glad" said Colonel La
mont. TO get out of political life and
! must say that / have no hankering
to return TO newspaper work. al
though / have found that very con-
genial but If a man is to accumulate
enough money not only TO support
himself and his family but also to
secure a reasonable income for his
family in case anything happens to
him he must take up business, at
least if he has any qualifications for
business.
1.-TWO of my best friends. William
G. Whitney and James j. Belden, of
Syracuse. earnestly advised me when
I was secretary to the Governor -
Colonel Lamont always spoke Of
President Cleveland as the Governor
Ito decline several offers | had for
responsible and fairly remunerative
work as soon as Clevelands admins
tration ended. They told me that
they were certain 1 had some qualifi-
cations for success in business.
Mr.. Belden was, as you know,
probably the richest man in the CEN
tral part of New York State He was
an extraordinary skillful and adroit
business man. / don't think he pos
ful power of concentration of mind,
but he had greater skill in inventing
and carrying out some of the strate-
giles of business men than Whitney
himself did.
"Mr Belden made a great deal of
money at the time William II. Van
derbilt bought the West Shore Rail-
road. and he made It in a way which
never would have occurred, l think,
to Whitney. He discovered what Mr..
Vanderbilt purposed doing for the
West Shore and he got a small block
of West Shore stock. l think less than
a hundred shares. but II was just
enough TO enable him to say to Mr..
Vanderbilt You will have to come
across before you secure the West
Shore Railroad Mr.. Vanderbilt's
lawyers were compelled to come
across. and always have thought
that they had really a sort Of secret
admiration for the strategy and
business cunning which enabled Mr.
Belden to put himself in a position
where the Vanderbilts would have to
meet his demand II was entirely
within his legal rights
After ! had accepted the proposi-
tiop made 10 me by Mr. Whitnty to
enter into the service of the traction
companies of New York city. which
! Mr. Whitney purposed to unity, I had
a talk with Mr. Belden right here in
! this Office He sat exactly where you
are now sitting He told me that he
thought I had done we'll to accent
Mr. Whitney's offer and he said that
/ he had only one piece of advice to
give me, and that was never TO pui
my name on the back Of any mans
note. and especially not 10 endorse
any mans note because he was q
friend. unless / was ready 10 lose the
money I'm case the note was not psil
by the maker of II or unless the max
er of IT gave me good security sc
that / would be protected in any
event
HE said very earnestly. Dan.
should have been ruined if ] had
listened to the appeals Of men TO in
dorse their notes Friendly indorsin'
is about the most dangerous thinl
that a business man can do
"It was good advice and it WASH
long before had occasion to adopt II
Yet Mr.. Belden was always ready {
help a friend in that way but th
difference between Mr. Beldon ant
myself was that ne could afford {
lose money-and 7 think that consid
GRAFTON was always in his mind
while I had my pecuniary indepenc
ence still to gain
Copyright. 1913. by E.. j. Edward