Rensselaer Union, Volume 2, Number 34, Rensselaer, Jasper County, 19 May 1870 — HENRY CLEWS. [ARTICLE]

HENRY CLEWS.

A Brief Sketch of an Eminent Banker. As nations advance in wealth and numbers, and as their commercial affairs multiply, the character of their private banking firms becomes of the highest importance. Trade watches the manipulations of those who handle its medium of exchange with the keenest and most anxious scrutiny. Distrust tn reference to the processes that transfer money is instantly felt to the remotest extremity of the body politic, and in order to keep the latter in healthy action, the flow must be pure and regular in a business point of view, and must sweep through uncontaminated channels. We have been lead to these remarks by careful observation of some of our hightoned banking firms, and the saving influence which they have exercised over business by the excellence of their example. Among these the house of Henry Clews A Co. has become eminent, of late years, for those qualities that should distinguish the financial calling. Henry Ciews, Esq., the senior partner and head of this esteemed house—a native of England, and about thirty-six years of age—came to the United States as early as 1849, with his father, whose heavy connection with American trade gave the young man an immediate opportunity of noting the active, enterprising and yet peculiarly practical tone of our people. The latter so won upon him that he determined to abandon the study for the ministry, which had been his first intention, and betake himself to business. With this view he quickly sought and obtained a clerkship in one of the most prominent woolen houses of the day, where his untiring industry for a tionary term of nine y^ra=j)^ffiJ7*7r; r y j- ge p Ce , at tJle "S&relSexcellent personal habits and amiability of temperament, gave him solid position, and won for him, literally, hosts of friends. Mr. Wilson G. Hunt, the head of ths house where he was thus employed, bestowed upon him the highest marks of approval as his service lengthened, and, at last, when Mr. Clews sought an independent path, vouched for his ability and integrity. At the early age of twenty-five, Mr. Clews became a member of the enterprising banking firm of Stout, Clews & Mason. After one or two changes of title, but all the while rising in public esteem, the house is now established, and respected, far and wide, under the title of Henry Clews & Co. The same energy, clear-sightedness and. activity, which had given the subject of our sketch his first success, attended him as he advanced. From dealing in commercial paper, he took up Government securities, when heavy loans were continually negotiated for the nation. The needs of the country were pressing, and in the patriotism and intellect of Mr. Clews, found timely help. By his arguments and ready investments, other capitalists were encouraged to step forward at the moment when weaker heads and colder hearts were afraid to indorse the Union loan. To his example, Mr. Clews added the influence of personal representation, and by his agreeable manners, as well as by the resources of his thorough business knowledge, carried many a firm with him in the good work, which otherwise might have stood aloof His faith never swerved in the darkest hours of the country’s trials, and as the clouds grew more somber, his enthusiasm only brightened. At length, in 1864-63, the Clews concern had raised its business operations to several millions per diem, of which the National loan received a goodly share. At last the war terminated, and Mr. Clews and his associates found themselves among the wealthiest and most distinguished of American bankers. This position was easily maintained and steadily improved, until 1868, when all stock operations for members of the firm, either individually or collectively, were, by written agreement, abandoned. As the country, resuming its activity, began to breathe freely again, and the busy hum of railroad preparation was heard from all quarters, making ready for a new development of national prosperity, Mr. Clews found fresh opportunities for beneficial investment, and of these his sagacious mind and acquired experience made brilliant use. The national securities, which he held, were sold by him to an extent sufficient to set free a considerable amount of the capital that he had placed in them, and these funds were, at once, reinvested in railroad loans. At the present time, the Clews firm are the financial agents of some of the most important roads in the United States.

The passing visitor in Wall street has but to glance at the busy throng which hurries in and oat of their spacious offices in the edifice formerly used by the United States Treasury, through the workingday,in order to feel satisfied that Mr. Clews has a large measure of public confldence and esteem. The impression is general, that when his name appears in connection With any projected improvement, all is welt Nor is Mr. Clews unaccuqtomed tp' express his financial opinions with terseness and power. He wields a tranchant pen, and the highest financial intellects in the land nave profited by his suggestions. Still in the prime of manhood, Mr. Clews stands upon an eminence to which fcw others have been able to climb. Behind and around him lie«beautifully ordered, the evidence of untiring exertions, that have sustained and extended the welfare of the country, and filled his own coffers with well-earned rewards. The future brightens at his feet, full of noble opportunities. Who can doubt that the after-career of so gifted and valued a citizen will reflect still fairer honor upon the name of the American merchant, and the estimate in which the world shall hold tlja’oharntterisric type of ths American gentleman. Ute JSrie Fork JferooMtls v» wrfawys -

The papers tell of a young man who boasts of having offered himself to and been wjeoted by twelve young ladles. He means to try aea'n. If perseverance amounts to anything he’s bound to succeed.