Show LATEST- - I: - lIHIf D ZmF&mi I I S&N 'S 7" "9 f I f&X?iV x 1400 Drab "" Ex-MUionair- Social Functions Couldn't Stand the Lo of HIi Millions Ho Was Found In ite2 ! r Notable - sS a with Room A " New with Their Ift Wife at One of HI viST J ' Henry rieltmann Forlier Shown at S Ji X aX fV f AV Vll C xA V— V) I I MX Ji P JSCH V - I ) J 1 s7 jU 1 Vlrt VW V AZi l 1 I vi r 5 w ir-- - lafw i'- ii i a i x o t By Nancy Madison wero a with yachts and Jewell but destined tomorrow by a stroke of fata or unwise investments to becoma a fit candidate for tho poorhouse What would you find at the and of your headlong- slido from riches to you Clarence Saunders of Memphis Offers a Proof That "A Man Hay Be Down He's Never Out" After Losing Two Fortunes He's Confident He'll Make Another Million or Two with a Chain of Automatic-Servic- e Grocery Stores He's Seen "Back Stage" at One When Customers Out Front Place Keys in Slots Items Are Delivered Electrically at a Central Point Beady to Be Carried Away but ragsT Dramatlo Indeed are the countless stories of American millionaires who rode high wide and handsoma on waves ofprosperlty one day only to find themselves on tne pauper lists the record was next In 1929 an all-tiset by the appearance on the income tax rolls of 513 persons who each made mora than 91000000 in this country In a single year Latest available records indicated only 75 landed in that category during 1937J and-whi- le all who slipped from "Million-aire- s' Kow" didn't have to start "ofer the bill" by any manner or means enough of them hit rock bottom to make soma mighty Interesting real life stories and to prove again "a man may be down but he'a never out" Take Joshua 8 Cosden for example who twice leaped from obscurity to multi-milliona- heights and erashed again when the Cosden Oil Co was thrown into receivership Cosden who was boat to the Prince of Wales on the royal heir's American trip in 1924 was rated at1929 50000OOa when the depression of hit He came back to win a new 115000000 fortune but this disappeared In 1930 and he had to start all over again Cosden was singulsxly fortunate In having an able and extremely popular shown the Many Who Are Dumped by Fortune Down from Riches to Bags Are Able to Climb Back Agahu—Drawing by George Kerr g — nin t ' v ! ' innnn rrr'-- i - nmnwnnriiiiiirriiinj-- I " wifs to aid him along his comeback road While Josh encoun tered serious Jllness in recent years handicapping him to some extent In his new work In the wife Nell Southwestern oil fields-hi- s branched out Into the interior decorating business a couple of years ago and has met with a good deal of success Their own attractive personalities have been no little aid to the Cosdens for friends they made in their palmy d days nsver deserted them 's business men who regard Josh luck as well as ability phenomenal predict he will soon garner another fortune In the oil fields and make his reappearance in the world of high finance have Not s all the Fleltmann who withhls attractive wife loved to entertain the grayer so- cial set on Park Avenue and Long Island His ' a tiny ground-floflat Just a few weeks ago a doorman smelled gas fumes and broke- - into - Fleitmann'a apart ment Leaning over the kitchen stove with gas flowing from iwo open Jets was the former millionaire's body Suicide on the other hand has always been farthest from the thoughts of William C Durant who founded General Motors and then went through bankruptcy after amassing a fortune of $120000000 Durant started his comeback as cafe and food prietor of a market in Asbury Park N J later revealed as merely one of numerous and varied Interests he had under— taken or - Hard-heade- S:i:":::-io::?i'- — Cos-den- s " v i :: five-ce- is Durant nt the Wall Street crash perhaps worse than any other man but his 75th birthday found bis spirit and determination hard as by flint Another millionaire head ad- versity deprived—of --everything - but his courage recently started out anew of a MlllBlBil mmmIssIb) - f - — i— - wy8- I ( v ' " i one-ti- chain of selling house-to-hou- se candy stores whom candy made at borne by his loyal-wi- fe Men alone have not shown themselves imbued with indomitable wills and courage when fate has pitched them to tne bottom of the ladder Nell who once had so much money could dismiss a $250000 Jewel rob-iar-s bery with A wave of her band has a companion in bravery in the person of Mrs - Winthrop Ames socially prom- tnent widow of the noted stage pro-"ducer who died not long ago Ames made a tremendous fortune from the theater butjeft only $60000 he diedAfter taxes and debts ": Josh Cosden 'Was Singularly Fortunate In Having an Able and Extremely PoDular Wife to Aid Him Along CDs Comeback Road" Nell Cosden (Right) Who Once Had Many Palatial Home Including This Estate at Paim Beach Fuu Now Makes a Living Decorating Homes for Ottaei r- - — - ' widespread business and industrial interests disintegrated and his fortune — disappeared - Hsi gave up his palatial country estate and his magnificent New York apartment moving into T V V were deducted there was not enough to support Quest Lea the $900000 Ames mansion at North Easton Mass so the widow bom one of the Impec- determination hard-drivi- ng such men as Cosden Jesse Liver-mor- e W C Durant and other famous men who have known both the ups and downs of fortune There was for example Henry T of cable and unapproachable New England Cabots gave it up and moved into her gardener's cottage across the roadv The two servants who once occupied it had to be dismissed along with the rest of the Ames' retinue when the producer died The sacrifice of palatial surroundings is usually the first steps of courageous individuals who after having lost their fortunes readjust their lives to altered times and conditions For a time during recent years when he was sacrificing everything to keep his business interests intact Clarence H Mao- - kay who made millions from telegraph and mining Interests lived In a ' servant's house on bis Long Island estate to economize — — One of the most picturesque figures America ever has produced is Benjamin Winter who came to this country as an immigrant in 1901 with a ten-cepiece in his pocket He started out as a house-paintsaved $1000 by dint of working night and day and eventually became the champion build c6uhtry7razing grandiose New York mansions where land values had outrun living values and replacing them with office buildings and apartments The autumn of 192 found Winter worth $270O000O£ He saw a crash coming and told his bankers he was worried But they sured him his credit was good and when the big wind wiped him out he had no trouble in borrowing another $1200000 to protect his equities and give him a fresh start But despite a courageous attempt he7 failed despite a five-yebreathing spell given him by the bank and his bankruptcy petition listed lia-' bilities of $8642736 and no assets-"Betcha Million" Gus Ollva former newsboy who reaped so great a stock market fortune "that he paid the dol-sh- e eminent over a quarter-millio- n taxesr recently reappeared t San Francisco with patched-u- p pants and memories of the $4600000 he bad when he left It is said be once bet foot- $100000 on a California-Stanfor- d —T ball game A series of bard luck breaks dimmed the turbulent career of Charles Ar vine of "living' machine" fame who self-servi- ce er man Livermore made it known a few months ago ha was following a path back to fqrtune by paying up more than $800000 in back taxes to the Federal and State governments: At least one of America's believes sincerely that he's better oft now Everett W Hill ex-- p resident of Rotary International when his fortune was reduced from $2500000 to $30 by the 1932 Crash' put on khaki shouldered a pack and hiked into the woods toresthis shat- nerves He found himself liking the life of a vagabond and besran " come-backter- ed ar J- gov-Cosd- tr Le-wh- en Mfe one-tim- nt — - mada$56000O0 Salvaging war materials but ran into trouble ever after ha hopped a plane ride to Europe with Clarence Chamberlain in '1927 Bines that time Levins was in and out of trouble constantly He lost all his money and finally was indicted by a Federal Grand Jury on charges of smuggling 2000 pounds of costly tungsten-powde- rinto -- this country from Canada Someone estimated last year that the depression left New York with a of grand total of 1400 whom actually 40 were only working for their living Included was Lulgl Ferrando now greeting old acquaintances as the headwalter at a restaurant in Greenwich Village He mads $2000000 out of the night club busi' ness himself and lost it alL Ferrando accepted his comedown with philosophical calm "So hag as one can lira comforttbly and ktep OUJy" he said "wist more can on sii? Lota ot money cannot provida anything that a eomtortabla living doss not ah" oid" Ferrando's example would seem to indicate a man can be happy without great wealth although ho once has owned millions Dynamic Clarence S minders who has known two tremendous fortunes and two descents into absolute penury is trying for his third fortune with an amazing new type of grocery store in which electricity delivers the purchases and adds up the cost e A Clarksville TeniL grocery clerk Saunders mads his first fortune from development of the store which ha called the "Pig chain Ha lost all his money in a spectacular Wall Street battle In 1923 when he tried to resist a bear raid on the company's shares and suffered a second disaster after a comeback But Saunders is far from discouraged and greeted his first customers at his newest establishment with the boast he'll "have another million within three years" Less flamboyant but just as sincere is the latest comeback attempt of Jesse Livermore the famed "boy plunger" of Wall Street who has rid den through four bankruptcy storms marital difficulties and anoitrh fimllv Comebacks SUPPOSING 3 Benjamin Winter Immigrant Started Out In New York with a Dime After Amassing Millions He's Almost Back to a Dime But Many Are Staging Brave f £lJ Wj2al XX YE TTil'V es in New York Now— USJT NV V v - V V'Tj'vN AL 1 1 e§3f"3-' wrUlngbacklatters -for friends still chained to responsibilities " by wealth Some of the letters got into print and Hill's writings began to be sought by editors Now his lnsplra- tlonal essays supply all his simple " needs "Now" my" philosophy is : thit I have Just today to live" he saya "Living one day at a time I can only use one 'pair of boots I need only one breakfast J can smoke only onen pipe When -night comes I can Bleep-ionly oe bed I create no problems for tomorrow So I have disposed of the ofllfe |