The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-05-12

other? Cultivate a close friendship
with reasonable economy-it is the
truest friend you will aver meet, anc
will never go back on you. 1t will
lead you to success and without il
you can never succeed in the long
run. I know these are homely words
and don't count for much in the esti-
nation of many, but they ought to
be written in letters of gold, for were
they universally practiced, many
miserable lives would be made hap
py."
The young groceryman had his
ups and downs in the camp, one of
his greatest misfortunes being the
signing of a note with another man
which Wallace had to pay out of the
profits of his little store. But he
paid and kept his credit good with
everyone in the community.
In the spring of 1875, E. H. Will
son, a grocery merchant, died here
and ]. l.. Davis, a clerk in the store,
was made one of the administrators
of the estate. Wallace suggested
that they take over the Wilson stock
to sell on commission and form a
partnership. This was done, Wallace
moving his little stock into the Will
son establishment and the firm of
Davis & Wallace was formed. They
had behind them a fine stock of gro
ceries valued at more than $4,000.
They settled every month with the
estate for what had been sold and in
that way got a good start. The firm
prospered from the beginning; both
men working hard and paying atten-
tion to business. Davis was one of
the best men in the grocery business
who ever entered a store in Montana
but he wanted to fly high when the
firm was making money and his ideas
of economy did not harmonic with
those of the Scotch soldier. So Wal
lace bought the interest of Davis. He
went to the bank and asked for a
loan of $11 900 on his individual
note and rather to his surprise, he
got it. He also assumed a debt of
$4,000 on the building, which the
firm had recently bought, making
his total Indebtedness over $40, 600.
For Is years Wallace kept his nose
to the grandstone'' and when the
panic of 1893 dawned, he was one
of the business men in Montana who
w~eathered the storm without borrow
Ing a cent of money or asking for
extension of credit.
We'll, I was just able to do this
by simply exercising reasonable eco
nomy during all those years and by
ordinary diligence" says Wallace,
was not because I had any SUI
business ability"
Davis, who sold out to Wallace.
another store in Helena. but
failed. He then started up in Butte
Ind failed. He then went to Texas
and tried to start up, but he return
to Helena in a few years, dead
He worked for Mr.. Wallace
'or a time at $125 per month, but
could not live on it. He over-drew
lis wage account over three hundred
dollars, which Wallace gave him
they again parted company.
Little Game for the Boys
MI. Wallace says the PEOPLE of
Helena have been very good to him
rom the first day he opened the lit
lie fruit store, when a prominent
BUSINESS man called in and said:
Well, my friend, I see you are open
ng a little game for the boys, and
ye wish you the best of success
mother told him the first week:
We've watched you, Wallace, and
your habits of industry and
hrift, you'll have 800, 900 out. of
his camp in a few years"
In those early days Wallace had
friendship of the big men of the
amp, as well as the interesting
haracters. He says of these Col
mel Broadwater and Seth Bullock
robably interested him the most.
eth Bullock used to come into his
rocery store now and then with
le proposition: wallace, if you'll
the eggs I'll furnish the
and We'll have a drink" Seth
as some promoter of such PROPOSE
ons for a number of years in Mon
ma before he went into the Dakotas
Id made the acquaintance of Theo-
're Roosevelt, who at his first OPP