Evening star., 1926-11-16
MEN AND MONEY
BY NJ. S. Rukeyssr
(Copyrirht. 1026.l

BY M. S. Rukeyssr
tCopyright. 1926.l
In speaking Of his fathers success.
John D. Rockefeller, jr.. once oh.
served: "The remarkable thing about
my father was that he stuck to OIL"
There is a prejudice in business
quarters against scattered energies.
Claude H. Foster, chairman of the
Gabriel Snubber Manufacturing Co., in
giving expression to this viewpoint,
says: Every sizable business that
have ever heard Of became a sizable
business-and remained one-Only be-
cause its executives never had time to
watch anything but the business.
think that 1t is true Of all businesses
tina: succeed and continue to succeed.
No man can watch his own business
and some other business, too. This is
not rule laid down by me; 1t is
rule laid down by the limits of every
mans ability.
Run through the histories OF the
biggest businesses. and you will find
that the executives in charge of those
businesses are thinking of nothing
else: go through the failures OF what
were once promising businesses, and
you will find a divided interest among
those who were once in power.
Applies to Small Businesses.
'This declaration applies as much
to the. small business as 1t does to
the big one. If / had man In my
employ who was dabbling In outside
interests. I would discharge him for
that, if for nothing else. I do not do
it, and there is no good reason why
those under me should"
In the current System Mr.. Foster
amplifies his position.
His policy is perhaps more extreme
than that Of the average executive.
A great competitor for the attention
of some business men is the stock
market. Apart from other hazards
the practice of speculation Is vicious
when it leads an individual to neglect
the special responsibilities which an
executive has assumed.
When an executive speculates in the
other dangers.
Concerning this problem, Matthew
S. Sloan. president Of the Brooklyn
Edison Co, and a progressive In the
field Of business management ana
business relations, told me:
LAS an investment I buy our stock
and add to my holdings as can. but
I do not trade in the stock of the
company and would not knowingly
permit any member Of our organiza-
ton to do So"
Finding Time to Play.
Some leaders believe that all work
and no play makes a good business
1N,,% fc hv, q 1lnQni.
NOUS view of business men. Charles
NJ. Schwab is a conspicuous example
Of business man who achieved out
standing success and yet found time
for play. AS q matter of fact, the
newer leaders see distinct advantages
in cultivating hobbies and are proud
to say they do so.
The founder of the Swift fortune,
Gustavus F. Swift, first head Of the
packing house of Swift & Co. had
sterner notions. In discussing his
fathers philosophy and practice,
Louis F. Swift said: "My father was
master Of his business-at cost
which other men might not be willing
to pay. His whole mind and heart and
strength went into the building up of
Swift & Co.; church and family alone
excepted. he had little inclination left
-Or OUTSIDE interests.
He was an able man, an unusually
able man. Yet many man Of equal
ability has left behind him no such
structure as my fathers to witness
his process. And L have no doubt
that many such men have conscious
ly made the choice. AS between a
career Of undivided attention to busi-
ness and life rounded out by a
of interests, they have
chosen the broader. For them it
means greater happiness, just as his
own choice meant greater happiness
to G.. F.. Swift"
F. p. A., Gotham's Jester. para
phrased the old aphorism and made
Jack"
Hard to Fix Rules.
It is difficult to formulate a fixed set
Of rules for success, for geniuses are
always violating them and neverthe-
less making progress.
Dwight w. Morrow, ex-attorney at
law and at present partner Of J. P.
Morgan, is conceded to be one Of the
leaders Of Wall streets intelligentsia.
Like Paul M. Warburg, acceptance
banker and former vice governor of
the Federal Reserve Board; Waddil
Catchings, partner in the banking
firm Of Goldman, Sachs & Co., and
few others who combine theory with
practice, Hr. Morrow is one of the
outstanding scholars in Wall street.
President Coolidge remembered Mr..
Morrow as bright college mate from
Amherst and, since entering the
White House, has frequently drawn
on his advice.
Mr.. Morrow has the reputation Of
being absent minded. This story has
been going around the Street-and Is
now told in Forbes-concerning Mr..
Morrow. The banker boarded a train
leaving New York. When the con.
ductor came for his ticket Mr.. Nor.
row couldn't find it. He searched for
1t in vain, with obvious embarrass-
ment. The conductor recognized him
and told the banker to take his time
that he would stop by for the ticket
later. The conductor slyly remarked,
II guess. anyway. Mr.. Morgan would
be good for It,"
TO this, Mr.. Morrow is reported to
have answered.: Ticket? Who cares
anything about the ticket? The trou-
BILE is I can't remember where am
going"