New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-05-07

country's leading financiers, to 90 over
TO the First National Bank as vice
president.
The removal Of the Liberty National
left idle its old quarters IN the Central
Railroad of New Jersey building, for
which the bank was paying an annual
rent of $4,000, The railroad company
and its real estate agents felt that tho
ground floor vacancy was blcmish to
the building. Would the Liberty turn
over its lease to another bank?
NO. said Dawson, who still re-
manned chairman of the executive com
mittee
The agents took their plea 10 Mir.
Baker, who seemed surprised at his
}ieutenants stand.
"Why will you not rc-lct the old
quarters of the Libcrty?' he asked Nj.
Dawson the next day
Organizes a Trust Company
Because we spent seven years in
making paths to that door Until our
customers get the habit Of coming over
to Broadway we prefer to have grass
grow up in those paths
The agents were still pressing the
transfer when Mr.. Dawson had an in
SEPARATION.
"Why not organize a trust company
and take over the lease? - he thought.
This stroke would do much moro
than settle the immediate problem 1t
would give Dawson the chance to work
out plan that had become a gospel
with him. For years he had seen the
need Of drawing the big banking in
terests ogether-makinG them realize
that their common aims could be
served better by cooperation than
ruinous competition.
Forthwith he enlisted among several
of the larger banks young leaders with
minds open to vision, and they united
into the enthusiastic group that or
gained the Bankers Trust Company.
One day in the autumn of 1908 Mr..
Dawson was Informed DY telephone
that J. Pierpont Morgan wished to meet
him in the Morgan library al 3 o'clocl,
that afternoon. Since the panic Of 1907
Mr.. Dawson had soen little of the
great fnancier He wondered what the
message meant
AS Mr.. Dawson entered the, library
he met Mr.. Morgan coming out. The
veteran banker halted directly in front
Of him, his massive frame alive with
energy, and looked down into his eyes.
Never had Dawson felt so wildly the
stupendous personality OF the man.
II suppose you realize it's nearly the
first Of January said Mr.. Morgan
abruptly. "Are YOU ready?"
"Ready for WHAT" asked Dawson,
bewidered.
"Why, you're coming down to Join
my family on January ~ Mr. Morgan
announced.
For the first time in his life Henry
p Dawson was staggered. As casual
as a bid TO lunch had been the invita-
ton to become partner in the greatest
private banking firm in America. At
last he recovered his balance
"Mr. Morgan" he asked, did YOU
ever fall from an eighteen story build
ing?" ,..o,,. ofY rarIied tbe
fnancier" "Why?'
"lf YOU had, you might know how
felt just now when you asked me into
your firm"
Joins the Morgan Firm
you'll recover all right said. Nh
Morgan with a smile. For twenty sec
onds there was silence through
which each man was reaching out to
the other. Mr. Morgan was the first
to break it. .:-
II want you in our family, DAWSON
he said. his words falling slowly and
orsvelv. because YOU know how to dc
our kind of business. We do our bust
ness up here"-he held his hand
up high; mot down there ms hand
dropped toward the floor.
Wall Street soon saw that Mr.. Davi-
SON had become MI. Morgans right
hand man. As the veteran inancler
leaned more and more heavily on his
vounp associate the bond between the
two men frightened. They were very
much alike. these two--both vital. both
Quick in decision, both apostles OF con-
struction, both suspicious Of radlcal
innovations until their worth had been
proved In the last conversation MI
Morgan had with Mr.. Dawson before
sailing on the trip from winch ne was
never to return alive, the elder man
said:
THE longer ! live, Dawson, the more
frmlv am convinced that the best
system of business. the best plan OF
life. is to stick to those simple creeds;
which are grounded in experience and
proved in practice. We may be out OF
style with our plain line of goods TINS
wear, but We are bound to come back
into fashion sooner or later
A rare intuition, swift and unerrlng
seemed to guide Mr.. Dawson in his
choice of men. His selection of Ihon1 a
W. Lamont for secretary of the BANK
ers Trust Company was typical case
One afternoon, while the company
was being organized, Dawson said to
the other directors:
1T seems to me we've ACTED pretty
fast in choosing the yice-presldent and