The Coolidge examiner., 1931-02-06

$S$$$$3$ 9&$I*N3 lHuCil lHOH6y III
VI k18 kpOrt in
those days.
If no man is a prophet in his
own country neither is the young
ster, with whom we play as lad,
generally conceded to have money
making traits or capabilities above
our own. That was the case in
that Johnny RaSkob had written
to the owner of an Ohio city street
railway company for a job as sec
retdry, estimating his value at a
figure that seemed absurd TO those
with whom he had been raised.
But John RaskOb got the job and
at his own price. The man who
hired him was Pierre S. Du Pont,
then owner of the traction system
in Lorain, Ohio. Lockport residents
thought that the youth was lucky
in landing such a plum.
Before he left Lockport young
Raskob had been making $50 a
month. He had asked for a raise
to $40 a week. When this was re-
fused him he decided that his tai
entS were not appreciated. He
made up his mind to seek fields in
which he would receive better re-
wards.
So he wrote to a friend, a young
draughtsman, Sterling II. Bunnell
by name. asking him if there was
any opening for him in LOrain. He
received a reply that Pierre S. Du
Pont was seeking the right sort of
a young man to act as his secre-
tary and aid in the street railway
business
When John Raskob told his
friends that he had applied for the
job and had asked for a salary of
$1,000 a year they thought at first
that he was fOoling. When they
were convinced by the earnest
young man that he actually had
asked for such pay they were GER
tain that he wouldn't get a reply
even. But they were wrong and
John Raskob was right. He in
variably has been on financial mat
ters ever since.
The boy who surprised his Lock-
port companions in the matter Of
getting such big salary was born
in that upstate New York city in
1879. His father, solid and sub
stantial citizen, was in the tobacco
business.
John was an average student in
school. His quick smile and pleas
ant manner made him popular. He
early showed a liking for business
and an aptitude for figures. His
father died when John was in high
school. Mrs. RaskOb was left with
four children.
The future chairman of the
finance committee of General Mo-
tors didn't try TO complete his edu-
cation by working in his spare
time. He decided that the sooner
he got a real job the better. He
realized that he needed special
equipment to get ahead in the busi-
ness world.
He left high school and took a
commercial course in stenography
and bookkeeping. He buckled
down to his studies and soon quail
fed to take dictatiOn and keep
set of books. He got a job at s.
a week. That was considered fair
wages for a beginner in Lockport
in those days.
After six months he asked for an
increase to $3.50 a week. His en-
ployer agreed to give it TO him, but
it was some months before the
raise materialiZed. Following two
years work during which he be-
came an expert stenOgrapher, an
excellent typist and first-class
bookkeeper. he asked for $40
week. His employer didn't think
the youngSter was worth such
wages to him.
That was the turning point in
John Raskobs life. He wrote to
Pierre Du POnt and went to work
for him in 1900. The next year
he represented his employer as
treasurer of a street car line in
Dallas. Texas. His salary had been
raised to $1,000 year, proving to
skeptical Lockport friends that he
hadn't thought too well of his earn
ing capacity after all.
He went to Wilmington, Del, in
1902, as assistant treasurer of the
E. l. Du POnt de NemOurs COM
pany. Later he became treasurer
and then vice president of the big
chemical concern. Mr.. Du Pont
joined him in buying General Mo-
tors stock and John RaskOb soon
became the directing financial gen.
ius of that vast corporation and
one of the cOuntry's outstanding
business leaders.
Ia 1Q2n hv The North American