Page:The Gillette Blade, 1918-03.pdf/8

Rh but the parties who were to take over their rights had agreed to invest $100,000 in the business abroad.

Immediately on learning the above facts I took passage for New York and arrived in Boston about ten days later. I protested against the proposed disposition of our foreign rights and won my point, and in view of the fact that the Company was making money rapidly I insisted on a salaried position, which was agreed to.

When these details were concluded I immediately went to Baltimore to resign my position with the Crown Cork & Seal Company. I had been with them thirteen years and my relations had been most agreeable. When I told them of my desire to leave, they wanted to know why, and I told them about the razor—and as I was full and overflowing with confidence in its future success, I suppose I impressed them with my enthusiasm. Anyway, they wished to buy some stock. They were all wealthy men and had been builders of the Crown business and knew the possibilities of little things. I had only 9000 shares at the time out of 65,000 and I told them I did not know its market value and did not wish to part with any that I had. They insisted and at first only wanted 2000 shares to divide between themselves, but as we continued to talk they raised the amount to. 4000 shares. I demurred and told them the razor was a bigger thing than the Crown Cork and some day would make more money. This only increased their desire and I finally agreed to sell them 4000 shares at $20.00 per share; they accepted, and then and there gave me a check for half the amount, $40,000, and agreed to give me the balance when stock was delivered.

I have said many times since that transaction that if the road between Baltimore and Boston had been paved with eggs and I had been obliged to walk the whole distance, I would not have broken an egg. It seemed as though I were walking on air, I was so rich and independent, for I was to have $80,000 which was more money than I had ever had before. The first thing I did after arriving in Boston and had deposited my check was to make out a check for $19,700 to give to Mr. Joyce for the money I owed on a business venture some years before. With the balance of the money I bought Gillette stock until my holdings were 14,000 shares.

For the first two years stock had no market value: any offer from 25 cents to $1.00 would result in a transfer. Mr. Joyce increased his holding very greatly at prices ranging from 75 cents to $2.50 per share, but when the price reached $2.00 and the razor had become a success, the stock began to be sought after, and a great many who had formerly joked about Gillette's Razor, came to me and would ask, "Gillette, why didn't you give me a chance?" I knew there was no need to answer; they all knew perfectly well that they had overlooked their hand and lost an opportunity.

Before I went abroad the Company took a whole upper floor on Atlantic Avenue; later it took additional space, and on my return in the fall of 1904 we made our first purchase of a property for the Company, a building on First Street,