The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-05-24

spects which ever came to America
Meyer Guggenheim, the founder OF the
family, was peddler of laces ana
glue in the streets of Philadelphia, ana
it was largely a matter OF accident
that he was a founder of the family
and that he also later in his lie fo9nd-
ed a dynasty upon the smelter bust
ness
The father of the family came from
I.angnan, Switzerland, with his father
many years ago. Aboard the same
ship was Barbara Meyer, girl OF
thrifty stock, Meyer Guggenheim
married the girl and thus In time
founded his dynasty. Their first son,
Isaac Guggenheim, was born in 1884.
The family in course of time became
ambitious for celebrity Seven sons
were born to them, Meyer Guggen-
helm was peddler of stove polish.
He bought gross or so of packages
at a time from Philadelphia firm.
one day Meyer Guggenheim asked
the jobber where he got the polish
and was told from the people who
made IL. The next question asked
was, How do they make it?" The
jobber couldn't say But Meyer Gug-
genheim wanted to know and kept at
IL until he found out how they made
it. The result was that he made the
polish himself that he sold, thus saw
To-, ., ha
the manufacturers and the jobber had
made ont of him. Form this came the
policy which has resulted in the smelt-
err industry and the elevation OF the
family which stands unique in America
in industrial history.
Meyer Guggenheim was always in
quisitlve: always seeking exact know
ledge wherever he could in different
fields of activity. 1t was not long be-
fore his life in the street was left to
individual peddlers of small articles.
He was a martinez in his family. His
children must be educated. He stop
ped at nothing to serve this end. There
were eight sons and three daughters
and as soon as they were old enough
they were sent to the public schools
in Philadelphia. Isaac Guggenheim.
the oldest boy, went no farther than
the high school
Lace and Embroidery Business Grows
Fast.
From there he was taken right into
his fathers business, the business of
lace and embroideres. BY this time
IL had grown to be business OF i'm
porting carrying big stocks of fancy
made articles, large amounts of which
came from a lace and embroidery
house in Switzerland A New York
office followed and the business kept
growing.
AS the sons came along in age they
were taken into the BUSINESS. But in
a few years Meyer Guggenheim was
fast becoming rich man. To the
second son, David, he said, You will
&c back to Switzerland and then you
will learn the business first hand.
When YOU come back YOU Will know
how to buy laces. Go and learn the
language. Don't lose your head in
over confidence and vanity, You must
lose nothing
Well, David was in Switzerland and
lost nothing. He returned % years
ago and was staunch clear headed and
as vital as he is today In 1881, 30
a., = v,i, ia,s., INF
had begun peddling laces in the streets
OF Philadelphia, there were four sons,
Isaac, David, Maurice and Solomon.
They were still in the lace business
and the Guggenheims had been one of
the largest importers of lace in Ameri-
ca But the name of the father had
not yet made reputation in Colorado,
But the name of the firm changed
Meyer Gugenheim change it to read
IN. Guggenheim Sons"
The old father stipulated that the
youner boys as they grew up, after
the four years just mentioned. should
be taken into the firm on equal terms.
Today in any Office of each son there
hangs portrait of his father
Here is the Way They Got Into the
Smelter Industry.
This is how they got into the smelt-
ing business: A friend who had got
pinched in Wall street made for the
Office of the Guggenheims and began
looking for help. He needed some
money at once. He represented his
case to Meyer Guggenheim, saying, Il
have mine at Leadville, in Colorado.
! will give you half of II for $4,000"
Mr. Guggenheim knew nothing about
silver mining, but was in sympathy
with his friend and was willing to help
a friend, so he gave him the money
and took half of the mine.
That is one OF the stories, but there
are several others. This, however, has
been accepted as probable statement
of the main facts. Another was that
the man who got Meyer Guggenheim
interested in his first mining venture
at so years of age was merchant in
Leadyille who had bought goods Of his
firm and had failed to remit when the
bill fell due. Bonnie was only 90 years
old at that time and didn't make min
ing pay The mine was flooded with
water and Bonnie had no means of