Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-03
MEN AND MONEY
By NJ. S. Rukeyser.
Copyright. 1920

Ex-office boys and ex-stenographers
who rose from obscurity are today
for the first time sitting at the desks
of partners and senior officers in the
great money reservoirs OF wall
Street.
The beginning of the New Year is
the traditional period for recognizing
merit What qualities raise favored
individuals out of the ranks into high
places? No easy formula can point
to the secret of success. Usually a
hired man is honored with a partner
ship because of recognition by his en-
ployerS that he can make valuable
contributions to the business, and,
unless tied fast by share in the
profits, he will eventually drift to a
rival house or set up on his own.
Wall Street banking houses, however,
rarely bring an employee into the bust
ness family unless he reveals ca
pacity to get along with the owners.
An attractive personality-the ability
to co-operaIe-iS necessary, no matter
what other personal assets tine lndl-
vidual may possess.
Daniel LlpSky, who entered the
employ of the Manufacturers Trust
Co. of New York as a stenographer
seven years ago, has been elevated 10
the vice presidency. He offers TINS
advice to beginners:
Re enthuslaStic--it moves noun
tains.
Be punctual-a great boost.
Re courteous-both to your CO
worker and your boss. =,
Re rational-at all times and IN all
things.
Dress neatly-appearance counts a
lot.
Forget college-generally you're
better without it.
Business Endless Flux.
The birth of the New Year en-
mia sizes the fact that business, ike
life. is subject to endless tiuX.
When the management of an enter
Prise believes that conditions have be-
come static, the business faces decay
Conditions and market preferences
change endlessly, and the only safety
for investors is in an enterprise whose
MANAGEMENT is perpetually battling
against adverse tendencies. Progress
is the price of business success.
The Studebaker Corporation, Wnlch
for decades had been wagon builders.
had the good sense to change with
the times and become makers or auto
mobiles. Other wagon builders who,
lnSIea0, If16u W al : uc ttC AiAo@oA -
out of existence have withered and
decayed.
Advertisers can rarely afford to rest
on their oars.
Endless repetition is the price OF
being heard and remembered.
Newcomers are even entering the
buying area-and need to be told what
at first blush seems a universally
| familiar story.
1t is estimator that 100000 new
born Americans begin consuming
each year, 5000 graduate from the
high schools and 100000 quit the col
leges and universities to start their
business or professional careers. One
and a quarter million young couples
start housekeeping each year: 400
| 600 persons die annually--and nearly
as many cease to be gainfully en-
| ployed.
Thus old favorites who fail to keep
their names before the ever changing
public soon fall into oblivion.
Railroads Paying Off.
The American railroads, whose
| credit has been heightened by i'm
| proved earning power in recent years
will have to pay off 1857 ,568,710 dur.
| ing 1927, compared with $212,7S3, 600
! in 1926, 1870. 408, 700 in 1925 and STAT,
| BAT 1850 in 1924.
The carriers long ago gave up the
| idea of getting out of debt and adopted
!