A NOTABLE AMERICAN.

Wairarapa Age, Volume XXVIII, Issue 7969, 21 February 1906, Page 7

A NOTABLE AMERICAN.

The late Mr Yerkes, the Amerioan -magnate whose connection with street locomotion, in London, made him well-known to Englishmen, was a typioal American of the go ahead kind. He wa& yet a boy when hia commercial instincts asserted themselves. He frequented auction rooms, and saved up money for investments. One day he saw in an auction room boxes of soap that wera to bo sold. He hurried off to tho local grocer's, who sold the same brand of soap. He enquired how much tho grocer sold the article at per pouud. "Eleven cents," was the answor. "Too much," said the boy. "Well," returned the grocer, "[ wouldn't mind giving nine cents, for any quantity of that soap. The profit is uot much." Yerkes rushed back to the sale and started tho bidding at • six cents, to the amusement of nil presents bought thirty boxes at tho •prices, and sold them to the astonished grocer at nine oonts. His rcoolness was extraordinary. In ', the days following the silver craze, when every bank in Chicago was tottering beneath the load of securities for loans, a meeting of bankers was held, and Mr Yerkes was aßked what be was going to do about the £1.400,000 worth of securities of hia street-car and eleva-, tor companies. "It la for you to aay, gentlemen," said Mr Yerkes. "•'I am afraid we may have to sell them." was tho reply. Mr Yerkes •said that he wouia be extremely pleased if this wore done, and politely took his leave. But as he reached the door he, turned, as t though an af ter-tbought had struck him, and said, "By the way, gentlemen, 1 think it would foe well to remember tbat if you sacrifice those stocks, it is quite possible there may not be a National Bank, in Obtcago, open after twenty-foar hours. Good -evening." The stocks were not sold. He failed after the Chicago fire," and suffered imprisonment beoause ha would not give the city preference -over hia other creditors, bat afterwards paid everybody in full, plus interest He was then visited by the representative of a low paper, who asked him to read the proof of a malicious and untruthful article about hia failure. Mr Yerkes read it through without the slightest emotion, and then said languidly: "Well?" "We think the article is -worth £SOO. to you if it is for your exclusive reading," aaid the blackmailer.' "If you don't think it is worth that, of course, we shall have to sell it to the public." "By all means do so," said Mr Yerkes, pointing to the door. The black- ' mailer bowed politely and took bis hat. He had nearly reached the end of the passage when Mr Yerkes •oalled him back. Smiling in anticipation of surrender, the! emissary found a slip of paper thrust into his hand by Mr Yerkes, who said: "I have written out some headlines which you will need when you orint that story. Now, get out." Mr Yerkes had written: "Death of -bur Editor," "Shot by Mr Yerkeai" The artiole did not appear. Hit hobby was art, on which he spent •enormous suidb, and he bequeathed 'his collections to New York City, with a endowment for their up-keep. The residuary of hia Immense estate—some 15,000,000 'dollara-iultimately goes to charity.