Evening star., 1923-01-07

III ID HrSI real NSHIuTo InIO the OuSl-
/ j ness world was the purchase OF
few dollars worth OF stock in a
corner grocery store, which proved to
be very profitable investment. Up
to the time of his graduation, at the
age OF seventeen, he had sold fire ex-
tinguishers and indulged in many
other efforts of a business nature.
1t had always been the boys desire
to learn the wooden business. One
afternoon he approached Frank y.
Loughry and asked him for a job.
His request was granted and his first
work was the drawing of every kind
of piece of machinery that was used
in the woolen mills, and a friend of
the family said the other day that
the senator still has these original
sketches. His next bit Of work was
as a picker in the mill, then work
in another department, and so on un-
til he had worked in every room in
the Provo wooden mills, and even to-
mill in the United States and perform
any of the duties Of a skilled work
man.
In the early days of Provo, the
Provo Cooperative Mercantile Insti-
tuition was a concern that handled all
sorts of products, and after leaving
the wooden mills. young Smoot got a
job with the company sacking
peaches In a year and half he was
managing director of the concern.
The Provo Woolen Mills had en-
L. - 20
partments, and young Smoot was sent
for. He made a careful analysis of
conditions and proceeded to put the
concern on it's feet. AT the age of
twenty-one he was general manager.
1t was at this time that he married
Alpha NJ. Eldredge, daughter of the
proprietor Of one of the largest stores
in Salt Lake City. Prior to this happy
event he had, however. conferred with
Mr.. Eldredge on another matter. The
Provo Cooperative Mercantile Insti-
tuition had among its braches drug
store which failed to show a balance
on the right side of the ledger. The
directors of the concern decided that
It would be TO their financial ad-
vantage to dispose of il. Young
Smoot said he would buy 1t. They
consented. but expressed doubt as to
his being able to raise the money.
knowing that he would not go to his
father for financial assistance. The
next morning he took the train for
Salt Lake City, and going to Mr..
EldredKe's office. presented his pro-
position. stating at the same time
that he had saved some money, but
did not have enough to swing the
deal. The latter asked him what Sc
curftly he could offer, whereupon
Smoot replied:
"I have no security. Nothing on
Gods earth except my name. Is that
good? I think it's the best on earth"
The drug store venture has always
returned satisfactory dividends. and
1t was perhaps this encounter with
Mr.. Eldredge that caused the latter
to give his consent to the marriage OF
his daughter to the man who has for
so many years occupied an honored
position In the nations AFFAIRS.
T<HE next Investment of any mag
i nitude was the purchase Of 1900
head of sheep, bought partly
with borrowed money. The debt was
soon Cancelled and young Smoot, bor-
rowing more money, bought more
sheep and so on until he had a noch
of thousands.
II is a matter of more than ordi-
nary import that the, progressive
young business man never paid his
herders the regulation wages. He
paid them more than other owners
did, and In addition he offered cash
/ bonuses TO the men who took the best
care OF their nocks during the year.
When Grover Cleveland was elect
ed President, Smoot saddled a horse
| and rode out to his camp, where he
sold ten thousand of his sheep at the
market price, which at that time was
around $S.25 a head. The balance he
| traded at q good figure for building
which proved to be an excellent In
vestment. Sheep. a few months later,
sold for 81 apiece. The young man
had seen the cloud rising in the imam
cial sl<y ana had disposed o4 hia
holdings.
naansta %l.@. .nUiy;cna syse ssnrne ner.