Evening Republican, Volume 14, Number 146, Rensselaer, Jasper County, 20 June 1910 — FORMER RENSSELAER BOY NOW A MILLIONAIRE. [ARTICLE]

FORMER RENSSELAER BOY NOW A MILLIONAIRE.

John W. Paris, Who Was Raised On A Earn Near Rensselaer, Makes A Million Fron Real Estate. John W. Paris, son of Berry Paris, deceased, and brother of Mrs. W. J. lines, who was formerly in the millinery business here, under the heading of "How He Made A Million From Nothing,” tells in page ads in this month’s McClure’s and other magazines how he .accumulated a fortune. Mr. Paris lost his own money and that of his father and relatives in the Dwiggins hank failures, with which he Was con i^ected. He then went to New Tork and entered the real estate business, in time paying up the losses of his relatives as well as his own. The following extracts are taken from his advertisement written by Walter Binner: A man who has made a cool million in a few years without a dollar of original capital can tell you some extremely interesting things. Good luck had seated me in the suburban train next to John W. Paris, president of the Real Estate Exchange of Long Island, and I soon bad him talking. “I began in real estate on my own account a little less than five years ago with a capital Just a few hundreds less than nothing!” he said with a broad smile. “You newspaper men sometimes apply a month’s hard study to some murder mystery. I decided to be a Sherlock Holmes to the real estate question. "I studied the growth of the city for the past century and made tables showing the steady increase in values. I found out wny growth occurred, and where it would be quickest “When I had mastered my subject I soon found men with capital who were glad to have me operate for a half interest In thp profits. I have never In my life made a dollar without at the same time making a dollar for some one else.”

“Are there still opportunities left?” I ventured. "There are more now than ever! For more' than nine years the cRy was building the Queensboro I ridge, just now opened. For six years the Pennsylvania Railroad has been tunnel ingtberivers, and Its tube system will open August first. That means opportunities by the hundreds! “New York’s average yearly increase in population is 250,000. Its growth goes forward as inevitably as the fall of the rain or the rise of the sun. It is the legacy of civilization to the largest in the grandest country on the globe.” “What are the best profits you have made?” “In active markets I have made for myself and my friends 500 per pent per annum. My first operation was to buy with only $7,000 cash a small acreage tract which we improved and retailed within one year for a net profit of $112,000. That is sl6 for each dollar invested. “Next I bought 33 acres at Woodside, L. 1., to which another tract was added later. This was only five years ago. We organized a company jnrhich has now sold most of the land. Above ’one million in dividends has already been divided by this company. Our profits for foui; years were 25 per cent per annum.”

“But how are these enormous profits possible?” I exclaimed. “Are they not exceptional and do you not at times make losses on some purchases?” "Not only have I never made a loss on New York City property, but I have never made a purchase which did not show a substantial advance the first year. Unless I am sure it will do that, I do not buy. I will read you from this note book the complete and actual results of some of my companies. “The Woodside Heights Realty and Developement Company gained and paid in five years profits equal to 43 times its capital stock. It has now been liquidated. “The Queensboro Corporation paid 300 per cent profits the first year, then increased its capital stock purely out of profits from $3,000 to SIOO,OOO. After that it paid on the increased capitalisation. - ■■■■' ~ T ■■■■ T—“The , Paris-McDougall Company

operated on a capital of SIO,OOO during four years time. It has paid out in dividends twenty times its capital stock and has now been wound up. “The awkwardness of beginning and liquidating so many. companies suggested to me about two years ago the wisdom of creating a permanent holding company, capable of paying for, developing and handling a great many different purchases. With this in mind I organized, with a number of my associates, the Mutual Profit Realty Company, under a charter giving it the widest privileges. “This company put up a cash capital of SIOO,OOO as a guarantee fund,- investing it in firstclass free and clear real estate at the first station on the new Pennsylvania Tunnel lines, eight minutes from the heart of New York. To provide further capital for purchasing and handling desirable properties it issues Profit Sharing Bonds which guarantee and pay 5 per cent interest and in addition share one-half the profits of all the company’s operations.

“This company just closed a fiscal year on May 31st. In addition to paying its operating expenses and 5 per cent interest to bondholders, It has made splendid profits, the bondholders’ share of which is 20 per cent per annum on all they have invested.” “Such a profit as that to a sure 5

per cent interest, certainly makes these bonds a very attractive investment. Do you accept small sums? “Our bonds are sold at par in sizes of SIOO, SSOO and sl,ooft for spot cash; or on easy installments, a SI,OOO bond may be paid for $5 monthly, $14.85 quarterly, $29.49 semi-annually, or $58.14 annually. There are fair surrender privileges and death benefits. I confidently believe this company will be able to repeat the big profit successes which I have shown in tbe past.”