The Washington herald., 1918-03-11
.BARUCH NOTED
EXCHANGE MAN

markable Intuition,
Holland Says.
Bernard N. Baruch. appointed By
the President. chairman OF the War
Industry Board. was not especially
identified with industries during his
career In New York City. He did
become interested At one time or an
othee In certain mining propositions
Soms Of them proved to be suecessful
ventures others were disappoint-
ments- Aside from his incursion into
the neId Of mining industries Mr..
Baruch was exclusively occupied as an
operator IN the New York Stock Ex-
ehanse and in the securities market
Market Expert.
He was early recognized as q man
who possesses an almost uncanny ca
pacity for forecasting market prtees
and he never hesitated to base opera
tons. some Of them very large, upon
what seemed TO be intuitive judgment
upon the course OF the securities
market. Occasionally he made IL clear
that he had unusual capacity for COL |
leoting and mobilizing. 50 to speak, de-
tabs, and Il was in part upon info-ula-
ton thus gained that his intuitive
Judgment respecting the future Ct the |
stock market was based.
The great responsibility which the |
President has placed upon him. tn- |
voIving complete authority to direct |
production in every mill and factory |
in the United States. Is something eu- !
tirely apart from any experience he
gained, except perhaps indirectly.
while forcing his way to the front
where he was in line with some Of the
most successful operators. really spec
ulators, in the securities market.
Intuition Keen.
Mr. Baruch was never known 70
conduct or even to plan a large far
reaching campaign. Each operation
In which he engaged was distinct frvm
every other to which he turned his
attention and war. so to speak, for
single DAY. For that reason he was
some times a bull on the market ana
at-Other times bear He rarely erred
in his Judgment or II he did no one
knew il but himself. His intuitive
grasp and forecast Of conditions that I
were to be speedily established was re-
vcdied at the time OF the investlgn-
tion which was caused ny the report
that certain very important official
information had prematurely leaked /,
out from Washington. 1t was prior
knowledge Of approaching publication
o. an important statement which was
alleged to have been obtained by Mr.. !
Baruch whoseby he was enabled to /
operate instantly and with such sue |
cess as brought him a profit Of ever
OO0. But II was demonstrated
upon investigation that Mr.. Baruch
had no prior knowledge. He did no
more than put two and two togther.
as the expression is. and by that /
process reached the conclusion that !
the market was to be strongly and
very favoTably affected. He acted !
upon that Judgment, and within a few
hours fouEd himself richer by nearly |
half million. The transaction was ]
a single incident with him.
A Great Campaign.
As the dictator over United States /
industry Of all kinds and in possession !
Of drastic power. Mr.. Baruch will [
be compelled to demonstrate tia, be /
Shas other capacities than those which !
made him a successful operator ia the !
securities market. He must, - some |
extent, institute a nationwide n.dus- |
trial campaign and so far as any one /
knows he has never done anything Ike !
this in his securities market opera |
tons.
There may be appropriate compari- !
son between Mr.. BarUsh as an opera |
tor and the late James r. Keene or /
jay Gould. Mr.. Eeene was without a !
peer in his time or at any earlier time !
as the organizer and executor OF very |
great promotion campaigns, nation !
wide. almost world wide, in their |
scope. His campaign for the promo |
tion of the marketing of the common |
stock Of the United States Steel Cor |
pOTation has now become one of The !
great traditions in the history Of the |
financial district
Mr.. KCCHe rilHned that campaign as
a great ECncr-' works out the strategy /
and perfect tine plans by which inn
portant. even vital military move !
ments. are to be undertaken.
So also Jay Gould possessed a ca
pGCity which almost matched that of
Mr.. Keene. for the organization and
execution OF great campaigns. the |
progress OF which involved weel1 5r
months. Gousd's campaign for the |
promotion Of his plans with respect
TO the Union Pacific Railway stand |
SECOND only to the campaign conceiv- |
cd and worked out to complete success !
Thy James r. Keene whereby the stu !
pendOus then unprecedented, issue OF |
the stock OF a corporation might be !
absorbed upon satisfactory terms to !
tse cooperation and to the purchasers |
Of the stock.
Both Mr.. keene and Mr. Could were
also identified with industries. There !
was one industrial undertaking in
which Mr.. Keene participated which !
was entirely apart from any OF his !
speculative endeavOrs, which turned |
out to be highly successful Mr.. GoTld. |
destructive a leader as he was at one !
time deemed 10 he, nevertheless was |
also a constructive leader as the uni |
fcation OF certain telegraph systems
snd the establishment Of the Missouri !
Pacific Railway system demonstrate.
An IndastrInI Leader.
IF Mr.. Baruch is successful as al
dictator over United States industry
Caud Il Is the general impression that
he will bel then he will be naTned
hereafter as one OF the very great in
dustriaI leaders Of the United States. !
His powers fully equal mis- responsible !
tiles. His mind is Of dynamic quality !
and also OF that character which Is |
sometimes colIoquially spoken OF as a |
''hair-trigger" mind.
He will have abundant opportunity |
To call upon abilities Of this kind fer
some Of the questions whlsh he must
decide will blde no delay. The choice |
II Mr.. Baruch by President Wilson |
FOR this hitherto unexampled post |
| compares from one point OF view with |