for carrying on the same business on my own account, I resigned my position.

In those days, in Cleveland, everyone knew almost everyone else in town. Among the merchants was a young Englishman named M.B. Clark, perhaps ten years older than I, who wanted to establish a business and was in search of a partner. He had $2,000 to contribute to the firm, and wanted a partner who could furnish an equal amount. This seemed a good opportunity for me. I had saved up $700 or $800, but where to get the rest was a problem.

I talked the matter over with my father, who told me that he had always intended to give $1,000 to each of his children when they reached twenty-one. He said that if I wished to receive my share at once, instead of waiting, he would advance it to me and I could pay interest upon the sum until I was twenty-one.

"But, John," he added, "the rate is ten."

At that time, 10 per cent. a year interest was a very common rate for such loans. At the banks the rate might not have been quite so high; but of course the financial institutions could not supply all the demands, so there was much private borrowing at high figures. As I needed this money for the partnership, I gladly accepted my father's offer, and so began business as the junior partner of the new firm, which was called Clark & Rockefeller.

It was a great thing to be my own employer. Mentally I swelled with pride—a partner in a firm with $4,000 capital! Mr. Clark attended to the buying and selling, and I took charge of the finance and the books. We at once began to do a large business, dealing in carload lots and cargoes of produce. Naturally we soon needed more money to take care of the increasing trade. There was nothing to do but to attempt to borrow from a bank. But would the bank lend to us?

THE FIRST LOAN

I went to a bank president whom I knew, and who knew me. I remember perfectly how anxious I was to get that loan and to establish myself favourably with the banker. This gentleman was T.P. Handy, a sweet and gentle old man, well known as a high-grade, beautiful character. For fifty years he was interested in young men. He knew me as a boy in the Cleveland schools. I gave him all the particulars of our business, telling him frankly about our affairs—what we wanted to use the money for, etc., etc. I waited for the verdict with almost trembling eagerness.

"How much do you want?" he said.

"Two thousand dollars."

"All right, Mr. Rockefeller, you can have it," he replied. "Just give me your own warehouse receipts; they're good enough for me."

As I left that bank, my elation can hardly be imagined. I held up my head—think of it, a bank had trusted me for $2,000! I felt that I was now a man of importance in the community.

For long years after the head of this bank was a friend indeed; he loaned me money when I needed it, and I needed it almost all the time, and all the money he had. It was a source of gratification that later I was able to go to him and recommend that he should make a certain investment in Standard Oil stock. He agreed that he would like to do so, but he said that the sum involved was not at the moment available, and so at my suggestion I turned banker for him, and in the end he took out his principal with a very handsome profit. It is a pleasure to testify even at this late date to his great kindness and faith in me.

STICKING TO BUSINESS PRINCIPLES

Mr. Handy trusted me because he believed we would conduct our young business on conservative and proper lines, and I well remember about this time an example of how hard it is sometimes to live up to what one knows is the right business principle. Not long after our concern was started our best customer—that is, the man who made the largest consignments—asked that we should allow him to draw in advance on current shipments before the produce or a bill of lading were actually in hand. We, of course, wished to oblige this important man, but I, as the financial member of the firm, objected, though I feared we should lose his business.

The situation seemed very serious; my partner was impatient with me for refusing to yield, and in this dilemma I decided to go personally to see if I could not induce our customer to relent. I had been unusually fortunate when I came face to face with men in winning their friendship, and my partner's displeasure put me on my mettle. I felt that when I got into touch with this gentleman I could convince him that what he proposed would result in a bad precedent. My reasoning (in my own mind) was logical and convincing. I went to see him, and put forth all the arguments that I had so carefully thought out. But he stormed about, and in the end I had the further humiliation of confessing to my partner that I had failed. I had been able to accomplish absolutely nothing.

Naturally, he was very much disturbed at the possibility of losing our most valued connection, but I insisted and we stuck to our principles and refused to give the shipper the accommodation he had asked. What was our surprise and gratification to find that he continued his relations with us as though nothing had happened, and did not again refer to the matter. I learned afterward that an old country banker, named John Gardener, of Norwalk, O., who had much to do with our consignor, was watching this little matter intently, and I have ever since believed that he originated the suggestion to tempt us to do what we stated we did not do as a test, and his story about our firm stand for what we regarded as sound business principles did us great good.

About this time I began to go out and solicit business—a branch of work I had never before attempted. I undertook to visit every person in our part of the country who was in any way connected with the kind of business that we were engaged in, and went pretty well over the states of Ohio and Indiana. I made up my mind that I could do this best by simply introducing our firm, and not pressing for immediate consignments. I told them that I represented Clark & Rockefeller, commission merchants, and that I had no wish to interfere with any connection that they had at present, but if the opportunity offered we should be glad to serve them, etc., etc.

To our great surprise, business came in upon us so fast that we hardly knew how to take care of it, and in the first year our sales amounted to half a million dollars.

Then, and indeed for many years after, it seemed as though there was no end to the money needed to carry on and develop the business. As our successes began to come, I seldom put my head upon the pillow at night without speaking a few words to myself in this wise:

"Now a little success, soon you will fall down, soon you will be overthrown. Because you have got a start, you think you are quite a merchant; look out, or you will lose your head—go steady." These intimate conversations with myself, I am sure, had a great influence on my life. I was afraid I could not stand my prosperity, and tried to teach myself not to get puffed up with any foolish notions.

My loans from my father were many. Our relations on finances were a source of some anxiety to me, and were not quite so humorous as they seem now as I look back at them. Occasionally he would come to me and say that if I needed money in the business he would be able to loan some, and as I always needed capital I was glad indeed to get it, even at 10 per cent. interest. Just at the moment when I required the money most he was apt to say:

"My son, I find I have got to have that money."

"Of course, you shall