The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-12-18
EINAN CE|
AND
BUSINESS


have gone stony-broke and have
come back" how's this2
"Borax" Smith. known all over
America as the creator of the borax
business, for some reason or other
got II into his head that he would
IKE to make Oakland. Cal. the me,
tropolis Of the Pacific coast. He
began spending enormous sums and
continued spending enormous sums.
He spent SO much that he went bank.
rupt. He lost control of the borax
industry a British syndicate getting
hold Of It. At sixty-six "Borax"
Smith was, so to speak. no longer
"Borax" Smith. He was no longer
q millionaire. Nor had he youth on
his side.
That was in 1914. seven years ago.
Now, In his seventy-third year. an
age when most men step out Of the
running. Smith has re-entered the
arena, determined to rebuild his for
tune. He has again turned to his
previous fortuns-making borax.
The story Of how this has been
possible is quite romantic. Last Jan.
uary q couple OF penniless prospec.
torE invaded a wild region OF Nevada,
said never to have been explored be-
fore by any white man. They struck
deposit Of colemanite. the raw ma.
terial from which all our borax Ii
produced.
They found their way to "Borax''
Smith and told him Of their discovery.
His investigation convinced him that
this borax vein ought to prove the
largest in the world, and he struck a
bargain with the prospectors. They
were tremendously delighted to clean
up q garter of q million dollars. Had
they held out for twice as much, they
doubtless would have got 1t.
When "Borax" Smith first sprang
into fame nearly thirty years ago. 1t
was by hauling borax out of the al
most inaccessible and inhospitable
Death Valley by his Twenty Mule
Team" This time mule teams have
given place to a fleet OF automobile
trucks. The colemanite Is taken
from Callville, New, to the nearest
railroad and shipped to Searles Lake.
Cal. where Smith has established
refineries.
Good luck to him!
Hotel and restaurant men In New
York are complaining that business
is poor. The building Of too many
Huke new ~ SuAShAy
blamed, although 1t 10 also stated
that fewer sightseers than usual are
visiting the metropolis and that New
York's own population 10 spending
less free-handedly. Theater man
ayers tell the same story.
Veterans who had attended uni
versity together were holding a class
reunion. Not many of them were
left. They contrived, however, to
have a merry, reminiscent banquet.
Then speeches were in order.
One Of the classmates had risen to
high place as q Judge. He had
attained fame as q speechmaker
When his turn came to speak. his
chums sat back. expecting q real
treat
The aged Judge stood up, looked
at first one of his old classmates
and then another. His eyes began to
was having difficulty in starting to
speak. Finally he opened his mouth.
Isn't 1t h, boys. to be growing
oldr' he fairly beloved. and sank
down overcome with emotion.
A novel recipe for keeping young
was given this week by another col.
lege student who is celebrating his
seventy-seventh birthday. In a mes
sage flashed to his company's 10000
employees in all parts of the world the
edvice given was this:
Keep young by associating with
young things. The newspapers ar,
the youngest-born every day"
The sender of this message gradu
ated from college fifty-five years age.
He is John II. Patterson, who as chair.
man Of the board of directors still az.
lively directs the policies Of the No.
tional Cash Register Company. which
he founded half a century ago.