The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-07-22

lunassuming, loves golf and his home
land still practices law.
| His partner, John w. Anderson.
borrowed money from relatives in or
der to invest in the Ford enterprise.
He has already had s2.5O0.OOO thrust
upon him as his share of the divi-
ldends and will be compelled to carry
laway S2,600,00O Of the new stock He
lives unostentatiously, loves travel, is
la natural humorist and after dinner
speaker and Is the only college man
lin the list of stockholders.
Contrary to current stories, these
1.-TWO lawyers did not receive stock In
payment for their assistance In the or
ganization Of the company. They paid
for their stock outright and received
Ia modest sum for their legal services
Gray Advances Money.
John s. Gray, who is now dead. was
a conservative business man and a
banker. He was induced to take $780,
900 worth of stock and the presidency
of the company. Mr. Gray was skep-
ltical about the success of the enter
Iprise and only advanced the $4,000
latter Mr., Malcolmson had guaranteed
thim against loss. Now his heirs are
Ireaping a golden harvest from an in
Ivestment on which not even a chance
was taken.
Mr.. Gray was comfortably we'll to
do before his fortunate investment.
Any one could have bought his stock
at reasonable price in the early days
of the company's life, but he invaria-
bly, told prospective purchasers that
he couldn't advise them to take 1t as
he didn't think the business would
last He lived long enough. however,
to see It's great success and his faith
in its two chief workers grew to be
unbounded. The Gray estate Is now
represented on the board Of directors
by David Gray. son " the late John
8. Gray.
The Gray estate has received $5,000,-
900 in dividends and will have to take
care OF $5.0OO,OO0 of the new stock
David Gray is bank president and
has helped to organize the new De-
troit Athletic club. He lives in a
beautiful home in Crosse Pointe. a
fashionable suburb on Lake st. Clair.
md Is fond Of home and society.
couzens 1orrows 500.
James Couzens, vice president and
treasurer Of the company, was getting
a salary of $500 year as clerk
when the company started business.
He was employed by Mr. Malcolmson
and lived in house for which ne paid
$21 rent per month. Being mighty
good clerk he had succeeded in saving
$500, and as the year had been sue
,cessful one his employer presented
him with $500. That made 5000 which
he had available when the chance
came to buy Ford stock. He hen bor-
rowed 500 from his sister and put
the $1,000 together with his note for
$500 into the company, of which he
was made secretary and business
manager.
Mr.. Ford was made vice president
and general manager Of the company
It was the combination of Mr.. Fords
determination and inventive genius
and the no less remarkable talent of
Mr.. Couzens for business detail and
policy that made the difference be-
tween ordinary and amazing success.
II remember riding up the street
with Henry Ford in that car Of his"
said Mr.. Couzens, land talking over
what salaries we were to ask for. We
decided that he should get $4,000
year and l $500, and these amounts
were voted to us by the directors.
started out with a one-armed stenog-
rapher and finally got bookkeeper.
wrote the first annual statement for
the directors meeting out in long
hand with an indelible pencil.
'In October, 1908. when the COM
pany was Ave months old we paid
70 per cent dividend In November 10
per cent; in January, 1904, 20 per
cent; and in June 6S per cent, so that
at the end Of our first year the stock
holders had received back every dollar
they had invested. From that time
Mr. Ford and declared our indie
pendence."
Clerk Now a Millionaire.
Mr.. Couzens has received about $4,-
100000 In cash dividends, and under
the new capitalization recently an
nounced will have s5,2OO,0OO of stock
He is absolutely unspoiled by his sue
cess, is approachable. genuine, direct,