Diplomats -- United States -- Biography; Morgenthau, Henry, 1856-1946; United States -- Foreign relations -- 20th century
It was settled most unexpectedly. During my attendance at Law School,
Abraham Goldsmith, Wilbur Larremore, son of Judge Larremore, and I used
to hold weekly quizzes at my house. In that way I had renewed my
friendship with Goldsmith, who had been my classmate in the City
College. One evening, early in December, 1878, Goldsmith called and
informed me that Samson Lachman and he contemplated starting a law firm.
I had always been very fond of Goldsmith, and Samson Lachman had won my
unlimited admiration when I listened to his Commencement Day oration and
saw him receive eleven prizes, which were about all that one man could
take. Hence, Goldsmith found me very receptive, and before we separated
that evening, our partnership was an accomplished fact. We both agreed
that Lachman was entitled to head the firm. As Goldsmith expressed
indifference as to his position, and as Lachman, Morgenthau & Goldsmith
sounded more euphonious, that order was adopted. We agreed to start on
January 1, 1879. Our average ages were twenty-three. We hired offices at
No. 243 Broadway at an annual rental of $400. Our net receipts for the
year 1879 were $1,500.
Our practice, as well as our income, grew steadily, but I shall abstain
from relating many details, as most of the matters involved were not of
public interest.
A rather interesting affair, because some of the participants are well
known to the public, was the dissolution in February, 1893, of the firm
of Wechsler & Abraham, of Brooklyn. We represented Wechsler, and William
J. Gaynor, afterward Mayor of the City of New York, represented Abraham.
Their partnership agreement contained a very peculiar dissolution
clause. They were to meet on February 1, 1893, and bid for the business,
and a bid was to be final only if the non-bidding partner had failed to
increase it during a term of twenty-four hours. When we met, I drew
attention to the fact that if we acted under the contract, either side
could prolong the matter indefinitely, and recommended that we amend the
agreement by reducing the limit to one hour. This was agreed to on
condition that both parties would deposit $500,000 as an earnest of
their intentions to complete their bid, the unsuccessful bidder to have
his check returned to him. Isidor Straus pulled out a certified check of
$500,000 and I instructed Wechsler to make out his check. When Wechsler
admitted that he did not have that much in the bank, I showed them an
underwriting that I had secured from the Guaranty Trust Company and the
Title Guarantee & Trust Company, to finance our purchase to the extent
of $1,000,000. The auction then proceeded, and both factions were
cautiously watching each other. Gaynor, Abraham, and the Strauses
several times retired to the other end of the room for conference,
Nathan Straus constantly pulling at one of his big cigars and pretending
that they had about reached the limit of their bidding. I had arranged
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account