The Washington times., 1922-04-30
BUSINESS AND FINANCE
FINANCE
AND
RUsiNEss. I'D
By b. @. FORBES.

81 900 bills. How often does your
ghost walk7" I asked. EVERY two
weeks" he replied. Then he added:
Gosh! Little did over think when
I started that thousand-dollar, bills
would some day figure in my pay
fellow feel pretty humble. isn't it,"
Only twenty years ago this man
was getting about 325 a week. He
Is still young-forty. His rise to
without family or financial 1nflu-
ence Of any kind whatsoever. And
know that the directors would
gladly pay him $150,000 Il year II
that were necessary to retain him.
His earning power for his organi-
| "a ton Is equal to several times
$75. 200 a year.
Hope for some Of the rest Of us,
| isn't there7
! had lunch yesterday with an
other forty-year. who has won
very notable success. Some twenty
years ago he was a stenographer
in a financial institution. But he
| learned more than how to write
letters. He learned how 10 Judge
the merit OF securities. Also, he
| studied how to. market securities,
as he even then was a tremendous
believer in the value of inducing
people to save and invest money
prudently.
Today his firm is a leader in the
distributing of dependable securities
a a nd io,
second to none. Who is he? Harry
Stuart. of Halsey, stuart & Co, Of
Chicago and New York.
At present Mr.. Stuart is giving
serious consideration TO d matter re-
peatedly emphasized in this column,
| namely. the evolving Of q workable
plan for handling partial payment in.
vestments on a nation wide scale. HE
house already handles several thou
sand such accounts, but does 1t more
| as a public duty, at a net loss rather
than at q profit.
II is strongly to be hoped that not
only this firm but others of the high
| est standing will be able to take up
| the partial payment investment busi.
ness In earnest on a profitable and
nationwide scale. The energetic
pushing OF partial payment business
by the kind Of concerns all over
the country would do more than any
thing else to divert business away
from unscrupulous brokers.
This paragraph appeared in this
column two weeks ago: Wall Street
is worrying over the Bethlehem
Steel b dividend. IL the steel in
dustry maintains its recent rate Of
| Improvement. the directors should
| have little reason for not declaring
the regular payment when they meet
| on April 81"
The regular dividend was duly de-
clared this week.
President Eugene G. Grace was
able to make quite a cheerful state
ment regarding the recent Improve
| ment in the steel industry.
Mr.. Grace, by the way, In an in.
stance of q man who made his mark
| when at college. A fellow student
| tells me that the only doubt there
| ever was as TO who would come out
at the head Of the class was whether
il would he Eugene Grace or his
brother. And Eugene was quite rs
distinguished as a leader in athletics.
| Today he is among the best amateur
golfers in America. Whatever Grace
takes up. he throws himself into
heart and soul. He is an ardent be-
lever in the old motto: What's
worth doing is worth doing well"
would like to see a golf match
| between Grace and Percy II. John
| ston, president of the Chemical Ma
tional Bank OF New York. When In
| fettle. Johnston can get under So
| he did Il, ! am told, last weekend.
! Grace can also break so when In
form. Both these young LADDERS
although occupying tremendously re-
sponsible positions and doing an
enormous amount Of work, are golf
club presidents.
Really. II doesn't seem to matter
| much what line the right stamp Of
young man gets into. Sooner or
| later he Is likely to rise to the top.
! Take private secretaries. A great
| many OF them never amount to more
| than painstaking stenographers and
| never earn either a big salary or a
big position. Others develop into
| able executives.
In this latter class is George X.
| Leet, VIII ohas just been made secre-
tary of the largest corporation in
the world. For more than ten years
Leet, who has Just been made secre-
| tary to +. II. Gary. While visiting
the Steel Corporations office the
thought often occurred to me that
Mr.. Leet was wasting his talents in
a mere secretarial position. won
6ered why he didn't strike out.
However, he evidently knew what he
was doing. He kept on and on,
steadily making himself more valu-
able to the head OF the corporation
and learning how to pass upon a
great many matters without trou.
bling his chief.
He has amply won the signal pro-
motion he has just received. His ex-
perience ought to be an inspiration
to many.
Capitalists are not the only men
apparently, who keep their eyes open
to spot "comers." happened &c
mention to Herbert Hoover the
name of a youngish banker in New
York whom he had never met. and
Mr.. Hoover astonished me by reply
ing that he had been greatly i'm
pressed by this BANKERS talents. Yet
| nj i.r LcI