I still bought new lots of stamps and coins, when offered at what appeared to be reasonable prices, but on the whole the stock was being reduced and I was hoping someone would soon buy the business. I had sold I of the 4 safes I owned. I had also made some fairly large sales of stamps to dealers and thus the stock had been reduced, but was still very large and valuable. The business was still for sale and I was looking for someone to purchase it.

Chapter XXIX.

THE J. W. SCOTT BUSINESS CHANGES

A

HANDS.

The world moves, and we move with it.

BOUT this time, I learned that the Edgewood Stamp Company, of Milford, Conn. were seriously interested in the matter and John Holloway, treasurer of the company, was soon in New York for the purpose of examining the stock, learning my price, conditions of sale, etc. The price made by me was extremely low, and the terms were made very easily and after a reasonable examination of the stock, by Mr. Holloway and others connected with the Edgewood Stamp Company, the sale, consisting of J. W. Scotts' stock, including the publications, album plates, the name and good will, the 2 large safes, the office fixtures and also the great stock of Honduras stamps, was made. The papers were drawn up by my friend Mr. Codling and duly signed. $5,000. in cash was paid down, and properly signed notes for the balance, given me. The notes were to be paid off at the rate of $1,500. per month, for a number of months, after which the monthly payments were to be $500. until the entire amount was paid. From my entire stock, which consisted of not only the J. W. Scott Company stock,

but my private stock as well, I reserved a nice retail stock, consisting of a fine large and valuable collection of stamps in II beautiful volumes, also a good stock of duplicate stamps in great variety, and my stock of entire foreign stamped envelopes and post cards, probably the largest stock in the world. With this unsold stock, I intended to remain in the business for a while longer, until I could perhaps, dispose of my entire remaining stock. The Edgewood Stamp Company did not care to purchase the big stock of entire cards and envelopes I owned, or the big lot of errors and so I was obliged to keep these with my other stock. The envelopes and cards were mostly at my Smithtown Branch home. So after being the sole owner of the J. W. Scott Company business, for less than four years, I disposed of it and the new owners took possession and I moved into an office at 102 Fulton Street, where I was obliged to pay very high rent.

It was August 1st., when we moved into our new office, and I concluded not to open permanently to the public, until after September 1st. So my 2 sons who were to remain with me, were given a good long vacation, and my wife and I went to Ocean Grove for our vacation, which lasted for about 5 weeks. I did come to New York a few times during the 5 weeks, but did very little business. On our return early in September, we opened our office for business, but we had very little, excepting some mail business. When I sold the J. W. Scott Company business, the name and good will went with it,

and most of my old customers remained with the new owners. This of course, was expected, as my customers had a perfect right to trade where they pleased and I did not consider it right for me to solicit their trade. If they wanted to trade with me, I would be very glad, but they must come voluntarily, and after a while some of them did come back; but we were in a new location and business was far from good and we were not allowed to have a sign at the entrance of the building, and so it was very hard to get new customers. An attractive frame of stamps would have helped a great deal, but the agents refused to allow anything of the sort, so with the heavy rent and clerk hire, as well as other expenses, I was making little or no money. In the meantime business with the new managers of the J. W. Scott Company, was good. I had known something of poor business and losses, during my early career as a stamp dealer, so I was not discouraged.

About this time a large wholesale stamp dealer from Paris, France, arrived in New York, bringing with him a very large stock, consisting largely of the new war issues. His name was V. S. Eram, and I had met him before. He came to our office and offered large quantities of stamps at what seemed to be very reasonable prices. The result was, that I invested $7,000. with him, paying the spot cash. This turned out to be one of the worst investments I ever made. While Mr. Eram was still in New York, another very large and prominent wholesale stamp dealer, Mr. Bela Szkula, from

Lucerne, Switzerland, made his appearance, and came to my office. From this dealer I bought nearly $14,000. worth, for spot cash. This included a large stock of Liberia stamps, also North Borneo stamps. These were very attractive, and sold very readily, and I soon made some large sales to some of the leading stamp dealers, and on such sales fair profits were made.

Winter came again, and we moved into our Brooklyn house at 731 East 9th Street. The parties who were living in it, moved out so we could occupy it. I might say that not only my wife and son William came to Brooklyn for the winter, but Herbert and his wife Edith, with their little son Elbert Townsend Handshaw, came too; so we were all together. A serious accident occurred before we had been moved long, when my wife fell and broke her right arm. The bone was set by Dr. Morris, who had operated on me in the Swedish hospital, which my readers already know about. She suffered much with it, and it was sometime before it was well. During the winter, a nice visit from our dear friend Mrs. Laine was enjoyed. So the winter passed, and springtime came again, and with it our return to our Smithtown Branch country home.

I am glad to say that the great stock of entire postal cards, as well as the stock of entire stamped envelopes I had carried so long, were at last disposed of. These were what were called the Seebeck issues, of Ecuador, Honduras, Nicaragua, and Salvador, and were purchased by me from Mr. Cal