Evening journal., 1913-02-08
NEW NEWS OF YESTERDAY
How the MilliOnaire'S
Daughter Obtained Some
Pin Money
By Holland

The late p B. Gallaudet was a son
Of the great man OF that name who
perfected the deaf and dumb alphobet
and who was identified with the
course of instruction which has made
those afflicted with loss of hearing
and Of speech nevertheless valuable
members Of the community. p B.
Gallaudet, unlike some OF those who
we're near OF kin to him, could not
only talk, but had fuency of speech
and an acute sense Of hearing. He
was for many years one of the lead
ing brokers in the Wall street dis
trict i'm New York.
was chatting with Mr. Gallaudet
a year or two before his death, when
something in the conversation re-
minded him of peculiarities or eccen-
tricities that we're characteristic of
some Of the men Of great wealth who
were frequenters of his house.
"One Of the common failings of
men who amass great fortunes and
who are conspicuous for carefulness
and minute attention to details is oc.
casional forgetfulness," said Mr.. Gal
laudet. Il mean by forgetfulness
complete loss of memory respecting
some of the securities they possess
II will give you an illustrationsof
this which came under my own OBJ
servatlons. One of the ferry COM
panies operating between Manhattan
and the Jersey side of the Hudson
river some years ago got into bad
shape financially. The company h
dcfaulted for some years in payment
of interest upon its bonds Foreclos-
ure proceedings were ordered by the
courts and a time was set for bidding
| in the property. Conrad N. Jordan
afterward assistant treasurer of the
! United States in charge of the sub
treasury at New York-was anxious
to buy in the property for the purpose
OF reorganizing the company.
"a day or two before the sale was
ordered a customer of mine, a man
worth, | presume. S5,000,000 came to
me and said that he had ten bonds of
this company. He said, furthermore,
that these bonds we're quoted at Sc
cents on the dollar, but that the ac-
crued interest was so great that un
less they were sold at 40 there would
be heavy loss. He thereupon asked
me to take the bonds, put them in
my safe and go to the sale. prepared
/ to offer as much as 100000 in excess
of any bid for the property that might
be made. He said that in this way
! he was sure that he could get l4O for
his bonds.
I a L.. I ..fu II
the first bid at single jump by $780,
! O00 Immediately Mr.. Jordan got
frightened and he asked that the sale
be postponed for a week.
"A day or two before the week ex-
pired, MIR. Jordan called upon me.
said that 7 was either going to sell
some bonds that | possessed at 40
or I was going TO raise every bid
until l got possession of the property.
After a good deal of shuffling and
hesitation Mr.. Jordan agreed to take
the bonds at 140. turned them
over to him and got his certified
check, That enabled him to bid in
the property for the parties who were
behind him.
"A day or two later my customer
called upon me and ! passed over to
him the check which represented the
bonds for 140.
'He chuckled and said that it was
a streak of pure luck. DO you know,
said he, that had forgotten that
owned those bonds? They were tuck
ed away in one of the drawers of ms
desk found them by accident, OF
at least my daughter did, one morn
ing Just before the sale of the pro-
perty was ordered. I told my daugh'
ter that although the bonds were
quoted at Sc I was going to fix IL sc
that mine would sell for 140, anf
when / got the money ] would keel
the face value of the bonds and
would make her a present of the &C
crued interest She deserved tha
much for finding the bonds which
had forgotten"
Copyright, 1913. by E. J. Edwards
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