The Washington herald., 1914-09-03
HISTORY BUILDERS
The Man Who Would Not Break HI.
Word.
By DR. e. ,. EDWARDS.

Some years ago, q good friend Of John
d. Rockefeller recommended, not entire
ly as q Joke, but half seriously. that Mr..
Rockefeller incorporate himself 30 that
thereby he could more conveniently d.
rect his personal business affairs. When
this advice was mentioned to another of
Mr.. Rockefeller's friends he said that he
thought that perhaps Mr.. Rockefeller :
best course would be one In imitation of
that adopted all his life by the late Dam
lei Drew, who was reported never to have
kept any books. He made few memor-
anda and he frequently utilized the palm
Of his hand as q deposit place for these
memoranda
I happened to be speaking OF this Incl
dent to Asa Potter. formerly a bank pres
ident Of Boston, now retired from active
life, and I observed that the anecdote had
reminded Mr.. Potter amusingly OF some
thing which fell within his own expert
ence. for he began to laugh heartily.
Il have recently told you two or three
anecdotes associated with the late George
z. Norman, who, when he died, was es-
teemed one Of the richest men in New
England-a real multi-mIllIonaire." said
Mr.. Potter. Now. Mr.. Norman would
never have a partner He built many
water works systems with his own cap
ital exclusively, and after he had done 50
he would dispose OF these works to the
communities In which they were located.
He gained national notoriety by con-
structing the great water works at New
port after some Of the engineers had re-
ported that. as the city was situated on
little island where there was no water
shed, II was impracticable to build q res
ervoir and aqueduct there.
When you spoke of Daniel Drew as
not having kept any books was instant
ly reminded Of Mr.. Norman. Magnificent
as his business operations were. he never
kept any books. He had q little mem
orandum book In which items were Jotted
down. but that was all. He knew to the
last cent what was owed TO him and he
knew to the day and hour when he had
payments to make.
''One day Mr.. Norman called upon me
to ask me to send to our correspondents
in New York a block OF / 900 shares Of the
Western Union Telegraph stock with in
structions that my correspondents sell
these shares at the market price that day
quoted. which was ssh.
Il agreed to do this. and an hour or so
later Mr.. Norman brought the block of
stock to my ONCE. remember his con-
versation perfectly. He said:
II hate to part with this stock the
worst way. It's going higher. am sure.
Then why do you sell it?' asked.
You don't need to! II you need some cash
we will lend you upon a margin Of 10 per
cent what you want. with this stock as
security
No. have got to sell II. made q
contract to sell II at S5Ii' Here Mr.. Nor
man pulled out his little memorandum
book and showed me an item entered on
II that 100 shares OF Western Union
were to be sold by him whenever the
stock reached ssIz
You gave some one an option, then,
on this stock said.
I don't care what you call H. I made
a contract with a certain person to sell
the Western Union stock whenever It was
quoted at s6il. have made many con-
tracts with that man and have never
broken one OF them. and ! never shall
II suppose I looked at him curiously,"
said Mr.. Potter. for that was a some
what unusual statement to make. He
noticed my look Of surprise and he said
The person with whom I made this
contract was myself. At the time I made
II put a memorandum In my little book
That pledged me to sell the Western
Union at SSH. know II is going higher,
but as I have never broken a pledge
made with myself I am not going to break
this one
He delivered the stock to me and the