The Washington herald., 1919-06-15
CONTINUED Fnox PAGE FIVE

<facts; Dillingham; was after
<-stories." After vanderiip had been
<-scooped'' by Dillingham; q few
<times. the city editor of the Tribune
3-Jack Pratt. think-took Wander
fhp OF that work and he was as
tsigned to the financial and CONNER
tcial department
This change. of course. was q for
<.unate circumstance, a. II continued
Mr.. Vanderlip in the course for
(which. evidently. he was destined.
tFor another thing. his working
hours were changed to the day
3time. leaving his evenings open for
: more labor. The family was moved
z into the city and installed in a.
Mouse IN Madison avenue near the
= University of Chicago. Mr.. Wander
Up took a course OF study in econ
romics and finance in the university.
He became financial editor OF the
<rribune- He wrote articles on econ
: omics for trade papers. financial
papers and reviews. He became well
known to every banker and financial
man in Chicago. They soon learned
of his capabilities and capacity for
labor and he performed some not
ing out on the South Side OF Chica-
I 30 at night on the slow cable cars
: OF those days. Il was not unusual to
sencounter Frank yanderlip-anda al
i ways at work. revising manuscript
4 cor studying reports
When Mckinley was elected Pres
1 ident. Lyman j. Gage. nominally a
Democrat. was president Of the First
National Bank OF Chicago. He was
chosen to be Secretary OF the Treas
ury in the Presidents Cabinet. ana
1t was natural that Mr.. vanderlip,
who was then editor of the Econo-
mist. should be picked for his priv
ate secretary. Vanderlip went to
Washington in 1897. but served as
private secretary to Mr.. Gage only
four months before he was made
Assistant Secretary Of the Treaz-
! ury. in charge of finance. II was
in this capacity that he noated q
popular government loan OF $780,
J 900. 900 in the Spanish-Americanw war.
It was considered quite q notable
financial exploit at the time Mr..
vanderlip conceived the idea of the
popular loan and managed the sale.
The loan was largely oversuoscrioed.
VANDERBILT NOW AT HEAD
OF GREAT BANK.
1t was in this connection that Mr.
Vanderlip attracted the attention of
the late Mr.. James Stillman. pres
ident OF the National City Bank, ana
was invited to come to New York
to be one of the vice presidents of
that institution He resigned as
assistant secretary of the Treasury
and went to New York
1t has been said OF him that he
made work for himself in the Ma
tional City Bank. thus performing
true TO form, for he always was
finding work for himself or making
it. He advanced TO the presidency
OF the bank. Under his leadership
the business OF the bank was ex-
! tended and enlarged in all parts of
Z the world His career as banker.
! organizer of corporations, director
OF railroads, promoter of govern
ment loans. is familiar to Herald
sreaders- And yet he remains. in a
sense. the farmer boy. and always
good companion. a good friend"
4 10 the reporters, q genuine demo-
q crat in his attitude toward his fell
lows. and a thoroughly likable man.
Mr.. vanderlip played a leading
: part in an affair in Chicago in 1895
! which was extraordinary both in the
, financial world and in newspaper
work. The bankers in the city de-
! cided to call the loans OF the Moore
: Brothers, who had borrowed ex-
tensively on the stock OF the Dia-
mond Match Company. To prevent
: h financial furry or possible panic
I 1t was decided to close the Chicago
: Stock Exchange. Also. it was nee
! essary that a simple statement
should appear in the morning news
papers, phrased in such a way as to
! tell the exact truth and not cause
. alarm To Mr.. Vanderlip was given
the work Of attending to the news
. paper end of the enterprise.
He made his report and carried it
TO the i've morning newspaper Of
J fces giving copies to the editor in
charge with the understanding that
IT would be printed exactly as it
was written. All except one editor
quickly agreed. The editor in
charge OF the one paper rejected the
Statement depending on the owner
OF his paper. a prominent banker.
as the sure source of his informa-
tion. But the newspaper owner
stood by his arrangement with the
pther bankers, the sources of in
! formation were closed. and his pa
per that morning contained not a
word concerning this important
matter.
The scheme worked out as well as
had been hoped. and there was not
more than a ripple on the surface Of
financial affairs.
It was in this connection that the
bankers considered curtailing the
'loanS to Charles T. Yerkes. then the
Traction magnate OF Chicago. They
held their meeting in the house OF
George VI. Pullman. and Mr.. Yerkes |
was sent for. The situation was tense |
when he arrived and was ushered !
in. 1t was a hot midsummer night.
Good evening. gentlemen" said Mr.. |
'Yerkes. DO you know, / never before |
saw so many straw hats at a funeral"
There was a giggle. then much |
laughter. and the tension was dis |
PEELED. Mr.. Yerkes-the prospective |!
,~corpse"-won by his sangfroid, and |
easily arranged concerning his loans |
Neither Chicago nor New York was !
able to win Mr.. vanderlip from his ]
love of the open country. where there |
Is abundant elbow room. He enjoys /
country life so thoroughly that. he |
likes to share its pleasures and ad-
with his friends. His home
Is on the Hudson just above Tarry-
town. real farm where the ground /
is measured by the acre and simple !
enjoyments abound. In the city Mr.. !
vanderlip is able, after a fashion, to /
conceal the boy In his nature, but
at home. in the company Of his six /
children. ranging in age from -four
to fourteen, he Is just a boy entering
into their play and
their interests.