Slow and Sure: The Story of Paul Hoffman the Young Street-Merchant

The more Paul thought about it, the more he felt a desire to go. He accordingly got a boy, in whom he felt confidence, to attend his stand, while he himself jumped on a Sixth avenue car and rode up to the shop advertised.

On entering he found it small, but neat, and to all appearance a good stand for business. The proprietor, a man of thirty-five or thereabouts, came forward.

"What can I show you?" he asked.

"I saw your advertisement in the Herald," said Paul, "and came to inquire about it. You want to sell out?"

"Yes. It is on account of my wife's health. The doctor says the city air doesn't agree with her, and orders her into the country. I don't want to be separated from her, and, besides, I have a chance to open a store in a country town where my uncle lives."

"Is this a good stand for business?"

"Excellent. I am making more money here than I can expect to outside of the city; but of course that is not to be put in the scale against my wife's health. Were you thinking of going into the business?"

"I should like to, but I have not much capital. At what price do you value your stock?"

"At two thousand dollars."

"That is more money than I have got."

"I'll tell you what I will do. If you will give me a thousand dollars down, and give me good security for the balance, payable a year hence, I will sell out to you."

"What is the rent?"

"A thousand dollars."

"Isn't that a good deal?"

"In proportion to the value of my stock, it is, but I keep turning it over. Last year, after paying rent and all expenses, including wages to a boy of seventeen, who assisted me, I cleared two thousand dollars."

To Paul this seemed considerable. It would be a great improvement upon his present position, and he would enjoy much more being the owner of a store than of a street stand. But where would he get the money?

"Couldn't you take less than a thousand dollars down?" he asked.

The man shook his head.

"I need that amount at once," he said. "You had better accept my terms. You can't do better. Can't you raise the money somewhere?"

"I will see," said Paul.

He had thought of Mr. Preston. He knew that Mr. Preston was his friend, and that he was fully able to assist him. He would go and see him, and consult him about the matter, not directly asking him for help, but giving him an opportunity to offer.

"I will come back to-morrow and give you my answer," he said.

"Come to-night, if you can."

"Very well, I will, if possible."

Paul was fortunate enough to find Mr. Preston in.

"Good-morning, Paul," said the merchant, pleasantly; "what can I do for you this morning?"

"I want to consult you on a matter of business, Mr. Preston."

"I shall be glad to advise you as well as I can."

Hereupon Paul explained the matter, first displaying the advertisement.

"Do you think the shop favorably situated for business?" asked Mr. Preston.

"Yes, sir."

"Is it pretty well stocked?"

"Yes, sir. If I had it I might want to increase the stock a little."

"So the man asks a thousand dollars cash?"

"Yes, sir."

"How much money have you?"

"Six hundred."

"Well, Paul, I think favorably of your plan. If you want to take the shop, I will lend you the money you need, and stand security for the remainder."

"Thank you, sir," said Paul, joyfully.

"Wait a minute till you hear my conditions. This is strictly a business arrangement between us. I expect you to pay me interest at the legal rate, and to pay it punctually as it falls due. You understand that?"

"Yes, sir, that is only fair."

"As you say, it is only fair, yet borrowers are apt to forget it. They will make all sorts of promises when they want to borrow, and break them afterward. Even honest men will think it is enough to pay interest whenever it is convenient, forgetting that by their neglect they are injuring their credit. Some years since I helped two former clerks to establish themselves in business. Both were honest; but while one was prompt in all his engagements, and waited upon me on the very day the interest came due with the money ready, the other obliged me to send for it, and then put me off on every occasion, though he paid finally. The result was, that after a while I assisted the first cheerfully to extend his business. The second, hearing of it, made a similar application, which I promptly refused. Do you wonder at it?"

"Not at all, sir. I think you were perfectly right."

"Be prompt in all your engagements. That is a good rule in business, and in everything else. I have confidence in your integrity, and shall be very glad to assist you. Go and finish your negotiation, and when you want the money come to me."

"Thank you, sir, not only for your kind offer, but for your advice."

"He is going to succeed," said the merchant, as Paul went out. "He will some day be a prosperous man."

The merchant was pleased at the respect with which his advice was received. Young America is very apt to regard the counsel of the old and experienced as of slight value; but in this they make a great mistake. There are plenty of young men, who, from their own self-sufficiency and impatience of good advice, go to financial ruin every year. He shows wisdom who avails himself of the experience of other men, avoiding their errors, and imitating what in them is worthy of imitation.

Paul returned to the shop and made a careful examination of the stock. He came to the conclusion that the price asked was not excessive, and agreed to pay it. In the course of two days the transfer was concluded, and Paul transferred the small stock of his necktie stand to the shop which he had taken. During all this time he had said nothing to his mother of the change he had made. He wanted to surprise her.

"Mother," he said, on the second morning of his possession, "I want you to take a little walk with me this morning."

"May I go too, Paul?" asked Jimmy.