A Thread Worth Three Hundred Thousand Pounds.
The late Mr A. T. Stewart, the New York millionaire, was harassed by a certain Treasury decision, which vastly increased his payment of duties. His lawyer called one day about a totally different matter, when Stewart happened to speak in an exasperated way about this Treasury decision. 11 Let me see the decision," said the lawyer. After reading it through, he said : " This law speaks of 'all silk' garments. Why don't you have a thread of worsted- lun into these goods when they are made abroad ? " " Will that come within the new law ? " asked the great merchant. "Certainly," was the unhesitating reply. " How much do you want for that opinion ! " asked Stewart, a few months later. " Fifty thousand dollars," said the lawyer. And he got it. He was modest, too, but perhaps a dollar went further in those days than it does now. Stewart, years after, told his legal adviser that the casual suggestion made that day had been worth over £300,000 to him. Se the fee was not high after all.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/OW18931214.2.208.7
Bibliographic details
Otago Witness, 14 December 1893, Page 49
Word Count
179A Thread Worth Three Hundred Thousand Pounds. Otago Witness, 14 December 1893, Page 49
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in