Is A College Education Advisable As A Preparation For A Business Career? Address By Chas. R. Flint To The Outlook Club Of Montclair, N.J., Friday Evening, November Twenty-Third, 1900 FACSIMILE
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High Quality FACSIMILE REPRODUCTION: Flint, Charles R. (Charles Ranlett) :Is A College Education Advisable As A Preparation For A Business Career? Address By Chas. R. Flint To The Outlook Club Of Montclair, N.J., Friday Evening, November Twenty-Third, 1900 :Originally published by Montclair, N.J. in 1900. Book will be printed in black and white, with grayscale images. Book will be 6 inches wide by 9 inches tall and soft cover bound. Any foldouts will be scaled to page size. If the book is larger than 1000 pages, it will be printed and bound in two parts. Due to the age of the original titles, we cannot be held responsible for missing pages, faded, or cut off text.
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Is a College Education Advisable as a Preparation for a Business Career?: Address by Chas; R. Flint to the Outlook Club of Montclair, N. J., Friday ... November Twenty-Third, 1900 (Classic Reprint)
(Excerpt from Is a College Education Advisable as a Prepar...)
Excerpt from Is a College Education Advisable as a Preparation for a Business Career?: Address by Chas; R. Flint to the Outlook Club of Montclair, N. J., Friday Evening, November Twenty-Third, 1900
The widow of a prominent New York merchant sent her son to ask my opinion as to whether it was advisable for him to go to college as a prepa ration for a business career. I said to him: If you will repeat to your mother exactly what I say, I will give you my opinion.
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The Trust, Its Book: Being A Presentation Of The Several Aspects Of The Latest Form Of Industrial Evolution (1902)
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Charles Ranlett Flint was an American and was the founder of the Computing-Tabulating-Recording Company which later became IBM. For his financial dealings he earned the moniker "Father of Trusts".
Background
He was born in Thomaston, Maine. His father, Benjamin Chapman, a shipbuilder and operator, had been adopted by his mother's brother, Benjamin Flint, and had been permitted to take the surname Flint by act of the Maine legislature.
Charles Ranlett's mother, who died in 1853, was Sarah Tobey; three years later his father married again.
He was a descendant of Thomas Flint, who emigrated from Wales to Salem, Massachussets, in 1642. The family moved from Maine to Brooklyn, New York, where the father took charge of the shipping business of Chapman & Flint.
Education
Charles was educated in the public school at Thomaston, in a boarding-school in the neighboring town of Topsham, and in a public school and the Brooklyn Polytechnic Institute.
From the last named he was graduated in 1868.
Career
His newly acquired interest in engineering was never to replace his love of forest and stream or the family preoccupation with shipping and foreign trade. Charles Everett Ranlett, after whom he was named, was a ship captain and friend of the family, for whom at least one sailing vessel was specially built by Chapman & Flint.
Flint's apprenticeship in business began when, in 1868, he became a dock clerk in New York City. During the period 1871-79 he was a partner, first, in the ship-chandlery of Gilchrist, Flint & Company and, later, in W. R. Grace & Company, 1872-79, prominent commission merchants in the South American trade.
He had worked for this firm without pay, 1869-71. While engaged in this business, he was Chilean consul in New York, 1876-79. Meanwhile his firm was financial agent for Peru, and when Chile and Peru became involved in war in 1879 Flint resigned his consulship and engaged in supplying war-material to Peru.
He became a free-lance business man, apparently because he did not like regular and continuous operation and was too individualistic to be a partner unless he was dominant. In 1880 he assumed the presidency of the United States Electric Company and tried to bring about a consolidation of light and power interests, including those of C. F. Brush and Thomas Edison.
He attributed his failure to the fact that he was president of one of the companies involved instead of being "a disinterested intermediary" (Memoirs, post, pp. 289-97). After the failure of his plans the United Electric Lighting Company was absorbed by the Westinghouse Electric & Manufacturing Company.
In 1884 he arranged for the importation of Brazilian rubber and later was known as the "Rubber King of America. " His activities brought him into close relations with bankers at home and abroad, notably with J. P. Morgan & Company. The important business part of his career began in 1885 and lasted for more than two decades.
In that year he joined the firm of Flint & Company, commission merchants of New York, an offshoot or descendant of Chapman & Flint, founded in Maine in 1837. This firm seems to have evolved from shipbuilding and ship-operation to a general commission business-lumber, rubber, and general merchandise--in foreign trade, and to merchant banking, ultimately having about 3, 000 correspondents.
In 1894 it assigned its foreign trade to Flint, Eddy & Company, and in 1899 it sold its sailing vessels to Flint, Dearborn & Company. The firm, or Flint himself, became notable for activities on behalf of foreign governments, particularly in providing ships, guns, and munitions.
It is hard to distinguish the firm's activities from those of Flint himself. Certainly, a fleet of war-vessels was fitted out for the Brazilian Government in 1893; a Chilean ship was purchased and delivered to Japan in 1895 for use in the war against China; negotiations were carried on for the purchase of war-vessels for the American Government in 1898; and active aid was given to the Russian Government in the war against Japan in 1905.
His firm acted as agents for the sale of Wright airplanes abroad and also for Simon Lake's submarines. Flint's second field of operation lay wholly in America, his activities consisting somewhat in buying his way into big concerns but chiefly in consolidating industrial units, just as railroads had already been consolidated.
His failure in 1880 had taught him that a consolidator who has no vested interest of his own works more effectively. His dealings in crude rubber had brought him into contact with manufacturers of rubber boots and shoes, among whom there was intense competition, and at their request he undertook the consolidation which, as early as 1892, resulted in the United States Rubber Company.
In 1899 he brought about the consolidation of the American Woolen Company, the Sloss Sheffield Company, the American Chicle Company, the United States Bobbin & Shuttle Company, and others. In 1900 he was dubbed "the Father of Trusts" by Chicago newspapers.
Although he accepted the epithet, he was really only one of the marrying parsons of big business. He expected many economies and greater stability when business units became larger. He was impressed with the advantages to the founders of the concerns brought together in horizontal combination, who could leave shares of stock to their descendants instead of factories to be mismanaged.
He believed that the consolidated companies would compete with one another and that stock-owners, consumers, and workers would profit. His chief personal services seem to have been discovering possible consolidations, getting together the persons concerned, and suggesting terms and compromises.
After retiring in 1928, he found idleness boring and returned to business, remaining therein until 1931 when he left his office for good.
He died in Washington, without issue.
Achievements
By instinct a trader, he loved a deal, particularly a profitable one. Seeking satisfaction in promoting and arranging transactions, he gained a large income--$80, 000 a year for a period--but never great wealth. Until old age, he worked quite unknown to the general public. He was an industrial capitalist who became a promoter on the fringes of financial capitalism.
In 1911 he formed the Computing-Tabulating-Recording Company through the amalgamation (via stock acquisition) of four companies: The Tabulating Machine Company, International Time Recording Company, Computing Scale Company of America, and the Bundy Manufacturing Company
Although deeply concerned with the military affairs and the diplomatic positions of South American countries--besides being consul for Chile he acted as consul for Nicaragua and as consul general for Costa Rica; although inextricably mixed up with the intrigue that underlay revolutionary movements abroad; although intimate with James G. Blaine , whom he claims he advised on treaties of reciprocity, and with other statesmen and politicians; and although active in promoting Pan-American unity and furthering American aid to the Russian revolutionary government in 1917, Flint was chiefly a business man.
Views
He was an industrial capitalist who became a promoter on the fringes of financial capitalism.
Personality
Abstemious in his habits, he reserved such stimulants as tea and coffee for days when he worked around the clock. Although of uncertain health, he made the banquet table an instrument of private and public business. Sidewhiskers helped him conceal a scar and appear impressive. With great artistry he blended business, pleasure, and adventure. Apparently, he was little given to reflection, charity, religion, or feminine romance.
Interests
Flint loved life and men. Hunting, fishing, skating, and especially yachting occupied much of his time
Music & Bands
Although of uncertain health, he made the banquet table an instrument of private and public business.
Connections
His first wife, a talented musician, and companion of many travels, Emma Kate Simmons, of Troy, whom he had married on November 21, 1883, died in 1926.
On July 28, 1927, he married Charlotte Reeves, of Washington, D. C. , who survived him.
Father:
Benjamin Chapman
mother
Sarah Tobey
1st wife:
Emma Kate Simmons
His first wife, a talented musician, and companion of many travels, Emma Kate Simmons, of Troy, whom he had married on November 21, 1883, died in 1926.
