A SUCCESSFUL CAREER.

Temuka Leader, Issue 912, 2 February 1882, Page 3

A SUCCESSFUL CAREER.

The following account of the early career of the late Mr Edward Masters, of Greymoolh, is given in the Melbourne Herald :—" The brief life of MiMasters is, certainly one of the mos< remarkable, perhaps the mos f . rem arkh\p, of the romantic lives which hav< been clirt nicled in this land of cold, lie was the eldest son of the late Mr Masters, builder, Bridge-road, Rich-

mond. Edwird started in the world without a sixpence of capital beyond \u> iTain, wlii. ii might fairly be called on< j of the mo?t daring ever given to a human cr ature. Ho began life as a racs enger hoy, pnd so on, at Messrs. Mitchel and Bonn au's, ironm ngers, in Elizabeth street, and fmm thence he removed to Briscoe's. Collins street, where he stea lily worked up, and saved money. By a lucky speculation in Ballarat mines, he realised L4OOO, when littl • m >r>- than 20 years of age. H If of this money he lost in other speculations, and determined to forswear mining for ever. The foundation of his capital was made by an odd transaction in nails. WHen the goldfields brfke out in 1850 51, there was a rush in the building trade. Young Masters, (hen only a boy, observed that a lot of | condemned nails, about a drayload, in sacks, were stored at the rear of Biiscoe's. He went to (he manager and asked, ' Please, sir. what, are you goiiu l to do with those nails ?' ' Well,' replied the manager, 'we were thinking of sendin,' them to the auction market.' ' How much vio you think you will get frith m ?' « About L4o.' ' Well, sir. I'il give you that for the lot,' The manager stared and exclaimed, ' Have vou so much moiny?' c Yes,' quietly replied the lad. He bought the nails and spnt them t' his father's, where they were placed in the shed. Masters employed his spare time sorting out the nails. Having p : cke 1 out all the good ones, he hawked them to the Richmond and other storekeepers., by which stroke he made Ll5O. Tais was the capital he invested in mining. He resolved to expend L2OOO in setting up a business, and asked the manager at Briscoe's what credit. he could obtain there. The manager had no idea of the money which Masters possessed, and said he might have credit for L 250. ' Oh,' said the young fellow, ' th°t won't suit me. I want L2000.' The manager Masters was crazy, and tuned on his hee', but changel his tone when the ynuiiLT man said he would back the credit with L2OOO cash. After due consideration the firm let him have Lsodo worth of stock. Masters thereupon carried out a Napoleonic scheme on which he had set his heart. He chartered three schooners, nod filled them up with ironmongery of every descripi tion. With this little fleet he started J right aw»y to 'Tokitika, New Zealand, where the diggings had just broken out. The schooners arrived safely with their cargoes and the bold young admiral, who immediately put up his- store, and realised a large fortune at a blow. The £oods exactly met the market ; thev were sold for fabulous prices. Knives which cost 6d each, were sold by the bushel at half-a-erown each, while spades were at a tetrible premium, and every thing else in proportion- Masters opened branch stores at the goldfields, his right hand man being his brother FTenrv, rw.r maragmq' the JSTew Zealand bv..-.-'.'j-*i'!. u.'.-!v>t was that ;>f r

less than twenty years' trade, Mr Masters was worth Ll 00,000, He was the best known man along the whole "West Coast of New Zealand, where the news of his death will be a great shock. For some years past he has suffered greatly from asthma ; and a complication of disorders, the groundwork of which was a weak constitution, has brought hint to an early grave. MiMasters was three timrs, if not oftener, Mayor of Greymouth, and was also a member of the New Zealand Legislature."