Evening star., 1926-10-14
MEN AND MONEY
By M. S. Rukeyser
(Copyright. 1920

(Copyright. 1920 Il
Jacques Cohen, broker, is the poet
laureate of Wall Street.
Other versifiers dream of human
passions and emotions, of nature and
the open countryside, but Mr.. Cohen
signs Of ticker tape, bulls and bears,
margain clerks and customers men.
Under the pen name of Jason he
catches the spirit of high finance in
his weekly corner of the Wall Street
Journal. Mr.. Cohen knows the color
of the Street and his literary prod
ucts are perhaps more significant be-
cause of content than form.
Mr.. Cohen started in Wall Street
at the bottom as a runner at the
age of u. AT the beginning of this
year-20 years after he started his
career in Wall Street, Mr.. Cohen set
up in business for himself in partner
ship with another ex-runner and two
established brokers. Mr.. Cohen's
firm has a membership in the New
York Stock Exchange and is one
Of the most active of the newcomers
in the Street.
Mr.. Cohen came to New York as
an immigrant boy, s years old. His
father had been a diamond cutter
in Amsterdam, Holland. Mr. Cohen
learned the business of Wall Street
as messenger and later as Stenog-
rapher. He later became statiStician
for one of the largest brokerage
houses in the country.
In School of Chart Readers.
Mr.. Cohen belongs to the school of
o1oot vt IIa lynanc ola hny>a q
statistical records of the behavior of
security prices from day to day and
bases his forecasts on the nature
of the curves of average price move
ments. Incidentally, Mr.. Cohen is of
the opinion that 1927 will be a liqui-
dating year.
Wall Street is a stage with elab-
crate settings and numerous dra-
matte roles. The public characters
do not always spontaneously speak
their own lines, but frequently read
the literary creations of others who
specialize in knowing public tastes
and interests. The public rarely gets
behind the scenes, but. if it did, 1t
would preceive the multitudinous
activities of the counselor on pub
licity, who has become a friend in
need for captains of industry and
finance.
Max Eastman, poet and radical, in
commenting on business. once re-
marked that success is usually based
on brains. but the brains are not al
ways in the head of the owner of an
enterprise.
Sometimes the all-round intelligence
and literary skill that an ironmaster
or builder of automobiles surprising
~ reveals is that of his publicity man.
Ivy Ledbetter Lee acts as public rela-
tions counselor to probably more mul-
ti-millionaires than any one else In
the world. For one who desires to
go back stage and see how the game
of moneymaking and appearing be-
fore the public is played, the methods
and philosophy of Mr.. Lee constitute
a helpful guide.
Pushes His Clients Forward
Mr.. Lee deliberately remains in the
background and pushes his clients
forward. Statements are sent out on
the letterheads of corporation presi-
dents who consult him-not on the
authority of Mr.. Lee. But II. L.
Mencken, the bad boy of Baltimore
has dragged Mr.. Lee into the lime
light In the current issue of his
monthly, the American Mercury, in
which in a critical article written by
New York reporter Mr.. Lee is eX-
cOriated for past and present sins of
commission and omission, real and
alleged. The Indictment reflects the
traditional hatred of a reporter for
a press agent. The writer appraises
Mr.. Lee, according to reportorial
standards, and yet Mr.. Lee believes
he plays an entirely different role and
is, therefore. subject to other criteria.
Ivy Lee is one Of that great army
of men who used to be newspaper
men themselves. More than 20 years
ago he learned news writing in New
York on the Journal, the World, and
the Times. He was a reporter during
the age of undertaking when business
success was considered anti-social, and
corporation executives were at loss
as to how to reveal to the public
their viewpoint and their aims. Mr.
Lee decided to give up his newspaper
job and interpret the public to cor
poration officials and corporation
executives to the public. He visual
lied a new profession or trade, which
now has many practitioners and a
technique described in a variety of
text books.
Mr.. Lee tells bankers, corporation
officials, churchmen and others how
to express themselves in a manner
that the public will understand. He
purports tos supply the vital spark
which will make dull man seem
more colorful. He attempts on be-
half of a client to translate a dry-as-
dust corporate report into news. His
NEUTRALITY-SUSPICIOUS.