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The Portsmouth Herald from Portsmouth, New Hampshire • Page 14

Location:
Portsmouth, New Hampshire
Issue Date:
Page:
14
Extracted Article Text (OCR)

PAGE 14 FRIDAY EVENING, The Portsmouth Herald MARCH 22, 1963 'Frugal Fergie' Has Standby Credo It His Sales Tax Plan Fails Concord Representative Tries Again Next Week HERALD STATE NEWS SERVICE CONCORD Rep. Eralsey "Frugal Fergie" Ferguson will in iroduce a sales tax bill in the House next week, and if it is later defeated, the colorful 71-year-old legislator can seek consolation in one of his standby credos. "When the list Great Scorer, comes to write against your name, sportswriter Grantland Rice once penned, "he'll write not that you won or lost, but how you played the game." Ferguson said he had been the losing end so many times in his varied career that he long ago adopted the Rice credo self defense. Sales tax bills have been introduced by many persons in every session of the legislature since 1981. Ferguson originally opposed a tales tax but in later years joined the ranks of sales tax proponents.

The onetime Amherst College orator, Latin scholar, athlete, teacher, bond salesman, manufacturer and gentleman farmer is ready to go all-out for his bill. But if he is shouted down, the domlnatabk has another credo ready, one of Lincoln'i: "Let have faith that right makei might, and in that faith fet to the end dare to oV our duty as we understand it." Those words are inscribed on a bronxe plaqw in the Ferguson home, a daily reminder to the old war horse of an incident when he managed to lose even when whining. Amherst put up a $100 prize and the plaque for the winner of an oratory contest. Ferguson had lit tie confidence he could beat the five competitors so he tallied them into agreeing that the winner would give each of the five losers $10 for making a good try. Thus, Ferguson wound up a $50 winner instead of a $100 one.

Ferguson likes to tell stories on himself, Although he was a Latin scholar for nine years, he started tad finished a teaching "career" India. After graduation from Amherst. he got a Job teaching English and history in the American Mission College (high school) in Madura, South India. At the end of the year, Fergu- reminisced, "65 per cent of my class failed their college entrance examinations." So he went to work for the National City Bank of New York. Although born in Detroit, Fergu- school in Brookline, Mass.

After a turn at banking and work- Ing for Bethlehem Shipbuilding in Squantum, Ferguson returned to Boston as a salesman for a leather company. He started a small shoe shop in Lynn, in 1980 and four yeafs later arrived on the New Hampshire scene when he transferred his shop to 'Pittsfield. He combined forces with an existing plant and luckily sold out before the 1929 stock market crash. A meteoric career in bond selling in 1930 for Chase Security had a rather spectacular end for Ferguson, beginning with an encounter with a vinegarish Vermont banker. Middlebury Col.

lege held many Chase bonds and Ferguson was urging the banker- trustee to buy more. "Young man, do you know what you're talking about?" the banker asked testily, peering at Ferguson over spectacles balanced on the end of his nose. "As a matter fo fact, I don't," Ferguson admitted. But he went on to say that Chase was the world's largest bank and he had every confidence in the institution. The banker then produced a letter, signed by the president of Chase, who was also a Middlebury trustee, urging the sale of the bonds whose value was unrealistically high.

Ferguson frantically 1 phoned his clients and by day's end had 2,700 "sell orders." Then he went to his boss, handed him a piece of paper and "This is my resignation." "The hell it is," the boss answered. "You're fired." Dame Fortune smiled on Ferguson when in 1933 he bought the Sawyer Sons of lambridge, a concern which manufactured rain wear. Shortly after, the Civilian Conservation Corps came into existence and the company made hundreds REP. ERALSEY FERGUSON In 1941, after "making a little money," Ferguson sold out and returned to Pittsfield where he liau maintained a home since 19J4. "I was glad to get back.

For 17 years I had been a weekend husband to my wife and a weekend father to my two daughters," Ferguson said. He became a farmer and things went well as long as he could hire outside help. When, in 19W, he had to do the work himself, Ferguson wound up with ulcers and a sincere sympathy for the farm' er he has never lost. Ferguson served a couple of terms in the House and one in the Senate while living in field. He had the colossal courage in 1958 to run for governor on a sales tax platform.

By then he was living in Concord. With equal courage, of Stratham got into the four-way primary fight on a platform advocating a sales tax and an income tax. The "major" candidates, Wesley Powell and Hugh Gregg, did not favor either tax. Powell won. Gregg was second and Ferguson wound up a very distant fourth.

Ferguson failed jn 1960 to win election in Ward 7, Concord, to the House, but he made it in 1962. He hadn't received the last of his lumps, however. After serving three years as chairman of the Milk Control Board, Ferguson was fired by Powell. Ferguson calls himself a "pro- 'essional politican" and claims to lave enjoyed every minute of his "Competition young," he said. He remarried in 1957 after his first wife, to whom he was deeply devoted, died the previous year.

He is active in the Baptist Church and the New Hampshire Council on World Affairs. But mostly he can be found wandering the HUIM corridors when the House isn't in session. "That is the only exercise I get other than acting as pallbearer for my friends," he quipped. Ferguson got the "Frugal Fergie" tag in 1951 when he successfully opposed a resolution which would give legislators, governor and council a daily newspaper of their choice at state expense of $2,900. It was in 1951 that Ferguson vigorously opposed the sales tax because the money would be retained by the state and not returned to the towns.

Now, he staunchly favors the tax, which, he said, is "winning more and more favor among informed people." He said he could detect a definite growth in sentiment for a broad-based tax as mounting costs of local government in re- cent yean have imposed hardships on the property taxpayer. Generally speaking, Ferguson's sales tax would impose a two per cent retail sales tax with exemptions for such things as food, medicine, fuel, children's clothing, cigarettes and liquor (the latter two already taxed). He estimated a revenue of $14 million, double that of poll, livestock all. ttock-ln-tradt taxes, which be would repeal, How the money would be disbursed, he would General could be the itumbling block to the bill's passage, he said. In his fight, FerguMn'will have his friends and he will engage his foes, but In the end he will love leave to the Ditbursement I don't care what man Ueves, as long as he's fot the gut to (Und up for what he thinks i right," Ferguson said.

"I have on ly respect for that man. Ferguson referred to a thir credo that he aid he tried live by, one written by Shake apeare: "This above all else to thin Tht Gco. D. Boulter Co. INSURANCE MATING OILS COAL COKE IDIewowl 0-IJU oorernment St.

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About The Portsmouth Herald Archive

Pages Available:
253,217
Years Available:
1898-1977