The price of steel rails
when we began was about seventy dollars per ton. We sent our agent
through the country with instructions to take orders at the best
prices he could obtain; and before our competitors knew it, we had
obtained a large number--quite sufficient to justify us in making a
start.
So perfect was the machinery, so admirable the plans, so skillful were
the men selected by Captain Jones, and so great a manager was he
himself, that our success was phenomenal. I think I place a unique
statement on record when I say that the result of the first month's
operations left a margin of profit of $11,000. It is also remarkable
that so perfect was our system of accounts that we knew the exact
amount of the profit. We had learned from experience in our iron works
what exact accounting meant. There is nothing more profitable than
clerks to check up each transfer of material from one department to
another in process of manufacture.
The new venture in steel having started off so promisingly, I began to
think of taking a holiday, and my long-cherished purpose of going
around the world came to the front. Mr. J.W. Vandevort ("Vandy") and I
accordingly set out in the autumn of 1878. I took with me several pads
suitable for penciling and began to make a few notes day by day, not
with any intention of publishing a book; but thinking, perhaps, I
might print a few copies of my notes for private circulation.
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