Random Reminiscences of Men and Events | Page 3

perhaps few in number, but impetuous and convincing.
They want to accomplish things and to move quickly, and they don't
mind any amount of work or responsibility. I remember in particular an
experience when the conservative influence met the progressive--shall I
say?--or the daring side. At all events, this was the side I represented in
this case.
ARGUMENTS VERSUS CAPITAL
One of my partners, who had successfully built up a large and
prosperous business, was resisting with all his force a plan that some of
us favoured, to make some large improvements. The cost of extending
the operations of this enterprise was estimated at quite a sum--three
million dollars, I think it was. We had talked it over and over again,
and with several other associates discussed all the pros and cons; and
we had used every argument we could command to show why the plan
would not only be profitable, but was indeed necessary to maintain the
lead we had. Our old partner was obdurate, he had made up his mind
not to yield, and I can see him standing up in his vigorous protest, with
his hands in his pockets, his head thrown back, as he shouted "No."
It's a pity to get a man into a place in an argument where he is
defending a position instead of considering the evidence. His calm
judgment is apt to leave him, and his mind is for the time being closed,
and only obstinacy remains. Now these improvements had to be
made--as I said before, it was essential. Yet we could not quarrel with
our old partner, but a minority of us had made up our minds that we
must try to get him to yield, and we resolved to try another line of
argument, and said to him:
"You say that we do not need to spend this money?"
"No," he replied, "it will probably prove to be many years before such a
sum must be spent. There is no present need for these facilities you
want to create, and the works are doing well as they are--let's let well

enough alone."
Now our partner was a very wise and experienced man, older and more
familiar with the subject than some of us, and all this we admitted to
him; but we had made up our minds, as I have said, to carry out this
idea if we could possibly get his approval, and we were willing to wait
until then. As soon as the argument had calmed down, and when the
heat of our discussion had passed, the subject was brought up again. I
had thought of a new way to approach it. I said:
"I'll take it, and supply this capital myself. If the expenditure turns out
to be profitable the company can repay me; and, if it goes wrong, I'll
stand the loss."
That was the argument that touched him. All his reserve disappeared
and the matter was settled when he said:
"If that's the way you feel about it, we'll go it together. I guess I can
take the risk if you can."
It is always, I presume, a question in every business just how fast it is
wise to go, and we went pretty rapidly in those days, building and
expanding in all directions. We were being confronted with fresh
emergencies constantly. A new oil field would be discovered, tanks for
storage had to be built almost over night, and this was going on when
old fields were being exhausted, so we were therefore often under the
double strain of losing the facilities in one place where we were fully
equipped, and having to build up a plant for storing and transporting in
a new field where we were totally unprepared. These are some of the
things which make the whole oil trade a perilous one, but we had with
us a group of courageous men who recognized the great principle that a
business cannot be a great success that does not fully and efficiently
accept and take advantage of its opportunities.
How often we discussed those trying questions! Some of us wanted to
jump at once into big expenditures, and others to keep to more
moderate ones. It was usually a compromise, but one at a time we took
these matters up and settled them, never going as fast as the most

progressive ones wished, nor quite so carefully as the conservatives
desired, but always made the vote unanimous in the end.
THE JOY OF ACHIEVEMENT
The part played by one of my earliest partners, Mr. H.M. Flagler, was
always an inspiration to me. He invariably wanted to go ahead and
accomplish great projects of all kinds, he was always on the active side
of every question, and to his wonderful energy is due much