Show iw YORK PROMOTERS Something About Men Who Manipulate Big Deals JOHN W YOUNG IS ONE Ho Aided Very Largely in the Shipbuilding Ship-building Trust and Is Now in Paris on Thnt Business Thcio Arc Throo Men Who Aro ProEminent as Promoters Viz James B Dill Charles R Flint and J Piorpont Morgan All Aro Great in Their Particular Lino TRIBUNE SPECIAL New York Sept Srh murder of a II atrn Pulitzer if J that was her name nlleged to have been committed by William Wil-liam Hooihjr Young son of the Mormon prophet iC I that IK lilu name has brought attention to the fact that the young mans father John Wesley You nsr or Johnnie Young as I believe his Intimates call him was a promoter In Now York and doubtless it may be Hild rifely that lie vu u teal one that Is he icaly conceived successful 1C not Kr ally Important Ideas and had the ability Jiypnolle oratorical etc to roil theni out Into aucciiStea UNUSUAL IN NEY YOUIC Thin Is a very unusual thIng even In New York hlch might be culled the 0 home of the ptombter We have all klndu here yoine fioway and down UL the heel who am not ptomoters at nil others i 1 111 tie higher In the scale who rc not leully promoters either but who soniLtlmvs Ret proposition or apart a-part of a prupusltlon together and lay it before somebody und Induce or help to Induce capital to Invest and so make a small tomml Ion WORK ON THE SIDE I knew it bright young fellow a former for-mer newspaper man who did a little of thIs work on the side It was for a law ilrm or rather for at lawyer the head of that Ilrm who had a special aptitude lor getting people together The young man was the negotiator would work outside would see the people peo-ple antI he could so state Ute value of the proposition from a business standpoint stand-point that he would sometime secure options or at least would Induce the Intended victim to attend a meeting In the library or the lawyer where the deal was finally l completed WAS PERFECTLY LEGITIMATE And this was perfectly legitimate because be-cause the lawyer always worked upon correct lines mostly combinations or cooperations He would point out lon lo-n number of Investors who were also men engaged In active business themselves them-selves that by combining forces and that by continuing to do business In their name sharp tmccessful manner aa before they could greatly increase their profIt f JOHN W YOUNG TYPE The promoter of the type of John W Young might be considered higher still though I suppose a promoter of that grade especially In New York Is I con aldured as having wheels more or less of the time that Is I he conceives Ideaa which would not always stand the test of hard business and of course falls in a certain proportion of cases to got the right people together or rather to get the person In touch with the proposition propo-sition for that after all Is what It really amounts to Lewis Nixon formerly for-merly Richard Crokcrs successor as the grand sachem of Tammany Hall and later head of the new shipbuilding trust which Is a combination of six or eight considerable plants his own at ISllzabelhport Included declares that John W Young has helped him materially mate-rially In placing some of the bonds of this company and It la I given out that he Is now In Paris on that business IS EXTREMELY ELOQUENT From all accounts thIs man Is cx tremel > eloquent when he really gets interested In a subject and of course back ot It all If success Is J to come must be a business grasp of the piop osltlon Itself You have not merely to talk about preferred stock cumulative dlvFdcnrlB and that kind l oC thing but you must know what they mean and since the Investor is looking for a return for his money and Is apt to consult ox perth who know how to look after returns re-turns for his monoj the promoter must keep In mind that simple single proposition propo-sition that you cant make money by simply thinking that you are making money PREEMINENT PROMOTERS There are men of course still higher In he scale of promoters here in New York as elsewhere and perhaps I might mention three of them to you men whose names arc familiar nil over the country and each In hlq peculiar line mrght bo called preeminent One would be James 11 Dill the corporation lawyer who ID supposed to have earned a rakeoft of a cool million for getting Mr Frlok l and the Filch interests and Mr Carnegie and the Carnegie Interests nil at war In the steel business for several sev-eral months together on a common basis of combination That was because be-cause ho know the Now Jersey corporation corpo-ration laws 30 thoroughly and I tell you It la a great thing to have some specially clown line and to be recognized recog-nized as n leader In It TWO CASES CITED Mr Dill is a rather slight man with a great dome of a head and he Is full of business as well 13 law and the lawyer of these day If you ever thought of it must bo about as full of buoiness as he Is of law Take two fellows that I can tell you about In n word classmates of mine at school One got high marks seemed to bo a grind was thought l to know a great deal lie la I funelng along as a lawyer here In a little dingy office without imy clients to speak of I suppose he does < know a great deal of law today but he doesnt get any business The other has a start of thirty people I suppose represents borne of the biggest corporations anyone any-one of whom stakes him sufficiently to keep his ofllce going He Is busy all day with mcetlngaand you couldnt get his ear for a minute probably unless a thousanddollar retainer were Involved DILL KNOWS HOW Now then James B Dill is a lawyer I of this latter kind ho gets big people together shawl them how to organIze big corporations and he In recognized nj a lawyer of standing besides making a great deal of money Moreover he Is a good advertiser You could probably get a fine engraved picture of him by writing for It nnd perhaps It would come framed He likes to go to college comihenccments and rend papers about the triiKiM Surely his Ideas about them arc very buHlnuuMllkc and logical for he contends thai they I must not overcapitalize over-capitalize but mum finally In the general gen-eral roundup earn money or they will go to pleccB and If they arc going to pieces why should they be organized 7 Manifest for no reason except for htock Jobbing purpose with which Mr Dill would not sympathize or cburse these men have great staffs of forty or fifty men easily lawyers ns they are called graduates of the schools who attend to the actual practice prac-tice many of them specialists In their own departments ANOTHER GREAT PROMOTER Another great promoter here whoso name bun been made familiar throughout through-out the country Is I Charles R Flint He may have rather overplayed the game III all events a year or HO ago It be ianiv evident that he wan embarrassed financially and as they say among the bears aa well aa the bulls here had to pull In his Irons u little J 1 Plerpont Morgan sooma to have taken care of him Seems to have loaned him some money on collateral that waa at least of questionable value At all events Mr Flint pulled through and everybody UJH glad of It because he Is really wonderful organizer nnd a most agreeable agree-able and scholarly gentleman He has probably organized more large companies compa-nies than uny other one man for while he would rail In men like Dill and lul lUll T Davies or Joseph Aucrbach of that same Ilrm to work out the legal details It was Flint and only Flint who would get the people together and i wervc them lo his will that hi 1 got them to give up the option upon a plant or a properly and go Into thu combination combina-tion aSTAFF OF NEGOTIATORS At one time I suppose he had a dozen doz-en bright negotiators at work In different dif-ferent parta of the country for first you know men would go out and eee If they could get options nn plans and then come back so that Mi Flint their employer could talk busIness to the big trust company people or other big Investors In-vestors SINCERE AS WELL AS BRIGHT And by the way these t negotiators must be pretty sincere as well as bright chaps for they must know tho I proposition and even know without seeming to know the propoeltlon of the Intended victim HO to callS him they must win his conlldence or they cant get an option from him Why T know one of these negotiators a man of 70 probably a most venerable man and also most Biierefsful throughout through-out all his career who was so very omooth that he simply couldnt get a uln mli contract In the matter of a 30 000000 IndustrIal combination that ho sought to effect simply bucnusc he could win nobodys confidence FLINT THE RUBBER ICING Well Mr Flint used to have this kind of bright and successful men working for him and Mr Morgan saw him through fo that you would not need to be surprised If you read about how thuS rubber business of the world was getting Into J P Morgans hands I for you know Mr Flint was for years called the rubber IcIng of New York thla because he happened as a large exporter and Importer to get Into the rubber exporting business and that by the I way being In a position to sell BO much raw material to the various rubber rub-ber slice manufacturers was why he happened to start Into his distinguished distinguish-ed career nr n trust organizer by getting get-ting the rubber shoe manufacturers together to-gether Into tho United States Rubber company I ON ROAD TO PERMANENT SUCCESS SUC-CESS Charles R Flint 19 doubtless on the high road to a permanent success again If he bar come under the wing of J P Morgan hu will make more money than ho could ever make Independently Independent-ly and he can bo of the utmost use to the king of piomotcri for no matter how big any other man Is the opera Lions of J P Morgan seem to comprehend compre-hend and comprise them all I31C5GEST OF THEM ALL And now how about the biggest of them nil this same J Plerpont Morgan Mor-gan It was Inevitable as the various va-rious great Jlncs of banking and tram orlatlon became more and more consolidated con-solidated that the master mind Who had the most to do with bringing about I these things should reach out Into the lelds of Industry Of course banking and transportation methods are com mratlvoly simple surely banking and In a way railroading These two blanches of business were beginning yearn ago to be reduced tQ a science Then comes along our unprecedented or even startling Industrial develop nent first under the Democratic hard times when It was almost a necessity that combinations should be formed IC the smaller separate concerns did not want to go to pieces and then under the better times because the lesson had been taught that more money could be made and It could be made more safely In that way IORGANS FIRST GREAT RESULT So came along Into the fTeld of industrial in-dustrial combination J Plerpont Morgan Mor-gan and the United States Steel car joratlon wan the flrtft great result Others notably the Moorcs and Roa well P Flower had organized the smaller smaller Is good when we consider con-sider that some were capitalIzed at hundreds of millions steel companies Federal Steel l American Steel and Wire Steel Hoop National Tube etc nut all of these must be combined and I I suppose It Is I true that the cancer ion grand as It was first camo to J P Morgan at a dinner wheio he happened hap-pened to alt next to Charley Schwab who let drop a kind of chance remark hat there was a period of great wastefulness waste-fulness In store for the various steel 1 companies If they kept on competing against one another especially since it van then Andrew Carnegies admitted determInatIon to build consuming ilants galore no matter how many nllllons they cost If this were necessary neces-sary to make him independent of other uyer than his own So Schwab and Morgan took It up together and this was promoting 1th a vengeance DIFFERENCE ONLY IN DEGREE There Is no difference except In degree de-gree of course between the frouzy promoter who is not a promoter at all and whose name Is one ot opprobrium and the kIng of finance who will M course be found reaching out into other Industries besides the basic one of lion and steel as soon an they are ready form for-m only a difference In degree All ne trying ulth such brains at they lofwess to conceive some means of get Ing rich quick und as soon as the business standpoint that JIf as soon as it Is good business to got people together to-gether who arc competing and make companies In buying and selling and In all lie processes of manufacture so that money can be saved and a good deal of It can be given to time I ron Eumor so that competing capital will ceop outas soon 1 say us all of this vIsta opened up to those fertile fellows lows who want to make as much money is possible by I working1 a little as possible pos-sible they all Jumped In some finally getting together three or four brlck ardBj some or one making the first llllondollar corporation one hanging around for word of encouragement losalbiy from some cheap schemer Ike himself the other eliminating almost al-most entirely from bin bualnoaH translations trans-lations just the same In ludunlrlals fI an In bankinG transportation affairs the element of risk MORGAN CANNOT FAIL It Is almost true that J P Morgan I cannot fall In any of his financial undertakings un-dertakings first he has the money at command If not In bank and second sec-ond he has the management and It locent make any difference how much he management costs It IB cheap at my figure because it Is I the second essential es-sential means of a sure success RAVENEL |