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FORESIGHT

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The foresight that sent him to New York in 1864, to sell pork, brought him back from Europe in 1893, months before the impending panic was dreamed of by other merchants. It is told of him that he called all his head men to New York, and announced to them:—

“Gentlemen, there’s going to be financial trouble soon.”

“Why, Mr. Armour,” they said, “you must be mistaken. Things were never better. You have been ill, and are suddenly apprehensive.”

“Oh, no,” he said, “I’m not. There is going to be trouble;” and he gave as his reasons certain conditions which existed in nearly all countries, which none of those present had thought of. “Now,” said he to the first of his many lieutenants, “how much will you need to run your department until next year?”

The head man named his need. The others were asked, each in turn, the same question, and, when all were through, he counted up, and, turning to the company, said:—

“Gentlemen, go back and borrow all you need in Chicago, on my credit. Use my name for all it will bring in the way of loans.”

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