His many inventions have revolutionized the entire cigar making industry. He has now a music room and a machine shop. After three in the afternoon he divides his time between composing and inventing. Mr. Hammerstein is a man who makes and loses fortunes. The last time he went under was about ten years ago, when his great three part Olympia Theater failed utterly. He said, “That cleaned me out—lost one million and a half. I realized that after the things were sold at auction I wouldn’t have a dollar. Even to pay the rent for my modest apartment was a problem.” “What did you do?” “Do! I lit a cigar and took a long walk.” “How did you feel—discouraged?” “Felt fine! Discouraged, not a bit! I’ve never in my life felt discouraged or despondent. I’m something of a victim of melancholy, but that has nothing whatever to do with external events. It comes over me when my affairs are prospering most. But I’ve never been afraid of anybody or anything. “What I did is too long a story. But mark this! If you have an honest conviction as to the right thing to do you can do it! If you have absolute faith in yourself, other people are bound to have faith in you. No question about it.” Later one of Mr. Hammerstein’s assistants told me one thing he did in this emergency. He sold his grand piano and with the proceeds as his capital started the great Victoria vaudeville theater on Long Acre Square. Its out of the way site alone irrevocably condemned it to failure in the opinion of all the theatrical experts except its builder. One of his sons is now running it with immense success. “I have only one partner,” continued Mr. Hammerstein—“my knowledge of human nature. I have the greatest conductor in the world—Campanini. I went to Europe and saw him conduct and decided I must have him. I met him and made him believe in me and he came. He had never heard of Oscar Hammerstein. I didn’t show him my bank book. It wouldn’t have impressed him if I had. It was the same way with Madame Melba and with all the others. They liked me, they believed in me, and they came with me. They won’t sing for a man they don’t believe in, no matter how many thousands he may offer them. “When I started this opera house over here my friends were on the point of engaging a cell for me at Matteawan. Now my opera is a great success. With the exception of Caruso the Metropolitan singers can’t compare with mine. Of course, there’s not much money in this business. If money was what I wanted I should sell suspenders or shoe strings. “No, I never asked or took anybody’s advice about anything in my life. Why should I? I know my own affairs better than anybody else can. I have no secretary. I have no bookkeeper. Of course I have a treasurer to handle the funds. I haven’t even a stenographer.”