5. Andrew V. Stout

There are few men in the city of New York who have won more fairly their proud positions in the mercantile world than he whose name stands at the top of this page. For more than forty years he has carried on a large and increasing business with an energy, skill, and probity which could not fail of success.

Andrew V. Stout was born in the city of New York, at No. 6 Canal Street, or, as it was then called, Pump Street, about the year 1814. When he was scarcely more than a child he was left fatherless, and thrown upon his own resources for a living. He was a manly little fellow, and, young as he was, was fully alive to the importance of the position he was compelled to assume. He was resolved not only to support himself, but also to acquire a good education, and by studying hard while most boys are at play, mastered the ordinary English branches by the time he was twelve years old.

He had a mother and sister to support, and applied himself manfully to the task of accomplishing this. He was well grown for his age, and was generally supposed to be several years older than he really was. When he was fourteen years old he applied for and received a position as assistant teacher of the English branches in one of the public schools of the city. The trustees of the school supposed he was at least eighteen or nineteen years old. Had his true age been known to them, it is probable he would not have received the appointment. He was not questioned upon the subject, and he was wise enough to keep his own counsel. He performed the duties of his position to the entire satisfaction of the school officials, and made such a good impression on his friends that at the age of sixteen he was made assistant principal in one of the most important and popular private schools of the day, taught by Shepherd Johnson, a name well known to the old residents of New York.

He was very young to fill this position, and, as may be supposed, it was peculiarly trying to one whose learning was mainly self-acquired. He was determined to succeed, however, and he applied himself energetically to master the course he was teaching. He studied harder and more constantly than any of his pupils, and was always fresh on the lessons for the day.

When he was sixteen years old he was so well grown and so mature that he passed for twenty. Having succeeded so well in the management of his English classes, he was offered the position of instructor of Latin, with an increase of his salary. The offer at first dismayed him. He was thoroughly ignorant of the Latin language, and utterly unprepared for the duties demanded of him. He was very anxious to have the place, however, for he needed the increase of salary offered him, and, after hesitating a little while, accepted it. He purchased a Latin grammar, and engaged a private tutor. He studied hard, and soon mastered the rudiments of the language. In this way he managed to keep ahead of his classes. If a question was asked him which he could not answer, he postponed his reply, looked into the matter at night, and explained it the next morning. By such hard study and patient efforts did this boy, himself a mere novice, turn out what was admitted by all to be the best drilled Latin class Shepherd Johnson's school had ever boasted of.

When he was eighteen years old he was made principal of Public School No. 2 of New York. He was living at Bushwick, where he resided with his mother and sister in a cozy little cottage, the garden of which was his pride, since he tended it with his own hands. It was his custom to rise every morning at four o'clock, and work in his garden until seven. Then he rode into the city, and attended to his school duties until four o'clock, when he returned home.

He was now in possession of a comfortable living; but he was not satisfied to do this and nothing more. He was anxious to win fortune, to enter upon a more active and stirring pursuit, and he kept himself always on the watch for an opening. About the time he became the head of the public school we have referred to, he commenced to engage in various ventures of a commercial nature, devoting to them his evenings, and the hours of the day not demanded by his school.

One of his relatives was a builder, with a fair trade, and had made some money by erecting houses in New York. Young Stout, who had saved a little money, proposed to him that they should take out a contract for building a number of dwellings on the then fashionable thoroughfare of East Broadway. The elder man was pleased with the plan, and at once consented to it. The houses were built at a handsome profit; others followed them, and by attending closely to this business, as well as his other duties, Andrew Stout, by the time he was twenty years old, had saved seventeen thousand dollars—a very large sum in those steady-going days.

He was greatly aided by the custom of doing business on time, which then prevailed, but he never allowed one of his notes to be protested, and never asked for an extension. When he began business, he did so with the firm resolve that he would conduct his most insignificant transaction as a Christian man of honor. If he could not make money honestly, he would remain poor. Every body saw the energy and judgment with which he conducted his affairs, and the strict integrity which marked them all, and he was not long in building up a reputation as a business man of which any one might have been proud. The promptness and apparent ease with which he met every contract, and took up every note, caused it to be generally believed that he was a very rich man. Further than this, it was known that he was a zealous and earnest Christian, one who carried his religion into his business, and who lived up to his professions. He was an active member of the Methodist Church, and the business man of the congregation to which he belonged. In his hands its finances prospered as they had never done before. Such was the reputation of this young man, who had not yet attained his majority.

He held his position in the public school for several years after his appointment to it, but the requirements of his business at length compelled him to relinquish it.

In the midst of his prosperity Mr. Stout made one mistake. A friend with whom he had been interested in building wished to procure some money from the bank, and Mr. Stout was induced, with considerable reluctance, to indorse his note for five thousand dollars. One false step in business, as in other affairs of life, leads to another, and, in order to save this money, Mr. Stout was forced to renew his indorsements until his liabilities amounted to twenty-three thousand dollars. To his dismay he was now informed by the builder for whose sake he had incurred this risk, that he (the builder) had failed, without making provision for the payment of the notes, and that Mr. Stout would have to account to the bank for them.

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