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Show Ij WENT THE PACE AND WOUND UP BY FAILURE, Sensational Life Story of . Two Gay Young Wlen of Gotham. Graduated From Brokers' Of- fleas and Branched Out j In Stocks, i j Hiso and Fall of tho Members of the I Firm of W. B. Mack & Co. j Points a Mora, i ( I . . I Special to Tho Tribune, j 1TEW YORK, April 9. Up to date i preachers would find material for a sermon and writers of modem I boys' books on success a theme for a new volume In the' announcement this week of tho failure of tho Stock exchange' firm of Vf. B. Mack & Co. ' For the last, two years the llrm has been known principally as commission house brokers and flopr traders. The firm was' also a member of tho cotton exchange, where its . suspension was simultaneously announced. This failure brings prominently to light tho sensational rise to power and affluence of two youths wh'o a few years ng6 were clerks in prominent Wall street banking houses. Sportively Inclined. At the race tracks and where the sporting element most do congregate, at the hotels, cafes, theaters, and the opera and fashionable clubs, the youthful youth-ful members of this firm are very fa-v fa-v , flnillar. One of them, VC. B. Mack, began his business career In a Brooklyn drug store. Thence he made his way to the office 1 of J. Pierpont Morgan & Co. There he I attended to the telephone, and contract-( contract-( ed the speculative fever. I For twelve years he dabbled in slocks In a small way. A telephone attendant for such a firm hears, perforce, a great deal that fires his ImiglnaUon and makes lingers ;tch for wealth. In the boom, culminating in 1S01, young Mack gathered, in a fortune estimated at I $200, 000. Mack's partner, Thomas S. Smith, held a similar position for a long tlmo Jn the bonking house of H. B. Holllns & I Co. The day before the memorable j panic of May 9, 1901, these two young I men former a partnership. A Born Speculator. Young Mack was regarded as a born speculator. He was always optimistic, 1 well-dressed, cool, and had shown an abundance of stamina ant' courage. Ho mingled In excellent circles and was always al-ways approachable and sauve to ac-I ac-I jriualntances wherever he met them. I He was chary about giving advice and I still loath to accept it. His cheery ' ways made him the beau ideal of the younger 3et, while his penchant for the good things of life, fast horses, good music, toothsome edibles and fine jewelry, jew-elry, gave him the title of "a good fellow fel-low among good fellows." |