New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-25

! a.
that stock was being watched iurtively ny
other brokers. Wanton rumor had IL tllaC
several commission houses, which mad been
buving Rock Island in crazy fashion, were
o,crInadod with the stock and on the brink
Of failure. .t.,,,,b
,bc cvrhanpc above the hubbub OF voices
Rcnairs were being made on the west wal
e the buildinp. and the blow OF workman
hammer ON a block of stone rang through
fine omen window. 1t sounded exactly IKE
,Lc raoninq Of the chairman'S gavcl to an
nouncc a failure. IL,
Tbe floor traders dared at the specialist
They thought he looked frightened, ana
tbcv fell over one another to sell Kock
/ Island short. The stock dropped eigllt
points .,o
The next moment the true nature OF inc
INTERRUPTION was explained, and the market
price Of Rock Island swung up with the
graceful ease Of a flying gun. 49,.
"Whv did YOU look 50 scared defnahdeu
one Of the brokers. $4,000,
81 didn't do a thing, protested the spe-
cialist. ,:.....d
! w. "You don't even know the value OIL "
smile. ..t1
/
;s that lateral upward extension OF the bps
worth more than in Wall Street, and no othcr
Mace exists where higher value IS set on OPP
timism. nj,
Walk into the National City Bank. Pleas
ant faces greet you on every hand, from inc
uniformed Waterman AT the entrance, 10 the
paving and receiving telers behind their
grills. And there, beyond the low brass
railing where the vice presidents con8rCRale,
did one ever see a frowning face! a CHEEKY
welcome even seems to radiatc from lilc
marble walls the glittcring steel oil thG
vaults and the reflections from the metal
grillwork. ,r-,1 t..
An imperative rule was established by
lanes Stilman in the days when ne occu-
pied the presidents Office and 1t has been
/ observed religiously ever since that Tune
\ democratic air must prevail, and cour-
teous reception must greet every visitor al
the biggest money institution III the OnltGu
States. Financial storms may whirl with.
out. but the quiet, cheerful atmosphere OF
| the City Bank stays undisturbed.
And why not? Because the smile typllleS
confidence in wealth and credit, success and
happiness. 1t is an essential factor IN bust
ness life.
| CEN ERAL years ago pdIihcI 9"lH ~ ''',
~ in speaking OF one of the Morgan part
ncrs. THAT mans smile is worth two hun
bred and fifty thousand dollars year to the
| firm of |. p. Morgan & Co.
Perhaps he read in my face that ! con
Strucd his words merely rs a figure OF speech;
for he added hastily, Il mean what | say;
That smile is easily worth 50 much in hard
cash 1t has sold larger blocks OF securities
in bad market, brought in more Syndicate
subscriptions, put through more industrial
combinations, and queled more diSSenSionS
at board meetings than any other one-man
influence that know.
In those days it was the custom OF the
members of the Morgan banking house to
meet at the close of an afternoon IN their
conference room in the old DreXel Building,
at the corner of Wall and Broad OF course
this was during the times when the late J.
Pierpont Morgan was abroad, in Egypt or
elsewhere for when he was present only
one man ruled. But in his absence these
gatherings resembled the ministerial councils
of financial kingdom, where the forthcom-
ing budget was discussed, the resources,
revenues. and contemplated investments
considered. If one of the bankers advocated
a railroad bond flotation or a syndicate I'M
y