Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-08-18

IA oOubIA OdIOklLldp MS SCHOOL
and college days when the
family moved to New York,
his start in Wall street and
his big success before he was
thirty-1ive.
There is little In this vol
ume. beyond occasional ref
erences. to the six Presidents
he has known intimately or
to his place in the national
picture. He is. reserving these
details for the second volume.
The first, however, is filled
with colorful recollections of
his youth and sketches of
eminent men Of finance he
remembers, such as the elder
]. P. Morgan. Thomas For
tune Ryan, Edward Harri-
man, Diamond Jim" Brady,
the Guggenheins and bet
a Million" Gates.
Mr.. Hartman, the rail-
road magnate. father Of the
present Governor Of New
York. seems to have been the
man Mr.. Baruch most adj
mired among those who
shaped Wall Street in the
early years Of the century.
THE son Of q minister. he
had started from scratch. as
/ had. He bet on horse races,
prizedghts and elections
things ] also liked to do"
Know Your Stocks
Yet, despite Mr.. Baruch's
fondneSs for gambling, he
learned early in his career
that blind betting on stocks
gets you nowhere. He studied
the records of companies in
whose stocks he invested. He
often was a bear on the
market. selling short and de-
livering at q good profit, but
usually he had sound reasons
for wagering q stock would
go down.
THE longer ! operated in
Wall Street. he recalls, the
more distrustful ! became of
tips and inside" information
Of every kind. Given time, !
believe that inside informa-
ton can break the Bank Of
England or the United States
Treasury. 1t is not simply
that inside information is
often manufactured to mis-
lead the gullible. Even when
insiders know what their
companies are doing. they
are likely to make serious
blunders just because they
are in the know"
Southern BOyhoOd
Mr.. Baruch was born. in
Camden, s. c., and spent his
early years there. His father.
Just out Of medical school
when the Civil War broke
out, became a Confederate
surgeon and served in many
battles. In later years he was
q New York doctor honored
by the medical profession
and beloved by his patients.
Bernard graduated at 10
from the College of the City
Of New York after majoring
in Greek and Latin. He
started as an Office boy in
Wall Street.
He often regretted that he
didn't. as he planned in his
youth, become a doctor. I'm
my personal ambitions" he
writes, II have been con-
stantly beset by conflicting
desires. The turns my life
took have been determined as
much as anything by the
rush of events"
When still fairly young, :
he retired from speculation,
to devote himself to activities
he held more worthwhile.
He bought Hobcaw Barony,
the fabulous plantation in
South Carolina where he has
entertained Presidents and
other celebrities. where the
duck and quail hunting are
excellent.
Turning to world affairs,
he doubts that there can be
real disarmament until the
problem Of a divided Ger
many is solved. He adds that
IF the threat Of atomic war
cannot be chained up, it is
far better that we face it
with wide-open eyes than to
be lulled into a false sense
Of security by some mean
ingless agreement"
This is an absorbing life
story Of a remarkable man.
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