American telegraph. [volume] (Washington [D.C.]) 1851-1851, 1851-08-27
EDITORS CORRESPONDENCE.
the Editors Of the American 7slsgrapA.

TO the Editors Of the american Telegraph.
GENTLEMEN: Having observed recent para
graph in New York paper making compliment
tary notice Of an eminent Wallstreet broker,
the propriety is suggested of offering a few re-
marks, through your journal, in reference to
w. w. Corcoran, ESQ.,, the senior partner in the
clearinghouse of Corcoran & Riggs. He was
reared, believe, in this District, and has known
what it is to be poor boy. The star of his
pecuniary prosperity does not seem, indeed, to
have arisen till about dozen years back, at
which period he was not probably worth five
thousand dollars have no accurate informa-
ton as to his present estate, but suppose it to
be not far from million of dollars. This rapid
accumulation of wealth many will be disposed
to ascribe to luck, to extraordinary facilities
for the investment of his funds--it being under
stood that large portion of his fortune has
been the result of successful transactions in
government securities. Yet, as other capital
lists, here and elsewhere, were offered the same
field for speculation and failed to exercise equal
sagacity or enterprise, it seems but justice to
attribute his success, in no small degree, to his
superior skill and judgment in financial matters.
In his capacity as banker he reaches his con-
clusions--whieh are judicious, and expressed in
a mode indicating but little ground for expecta-
ton that they will be altered-by sort of in
tuition, as they are usually pronounced at the
termination of single rapid perusal of the
paper presented. The operations Of this house
are transacted exclusively in specie, or its equiv
alent. fa
For the information Of your distant readers
will state, that Mr.. G. is apparently about
fifty years of age, stout built, healthy, and
rather near-sighted. His manners are cheerful,
dignifed and polished, and his integrity of the
highest order. ~ -
What is peculiarly creditable to him is the
generous use he makes of considerable portion
of his gains He does not, as is too often OBJ
servable of wealthy men, hoard up and watch
with misery vigilance his profits, but con-
tributes of them freely to needy objects deemed
by him promotive of charity, INDECENT talent,
literature, or the adornment of Washington and
Georgetown. His recent purchase of small
tract of land near the latter place, at o cost
Gncluding Improvements and decorations) OF
about $4,000, to be donated to the latter, his
native place, for the purposes of o cemetery,
will remain perpetual proof of his comprehen-
sive liberality. Other instances of his benevo-
lence, of less extensive but more touching
description, might be specified, if either the
occasion or his views Of propriety would permit
record of them here. As, however, he pre-
fers lending his aid to objects of public and
enduring, rather than to those of an individual
character, Ito crafty which would frequently
be to encourage idleness and extravaganza J
and as he is, | learn, daily beset by numerous
applications of the latter class, he has, necessa-
rily, to give occasional refusals to them.
WASHINGTON, Aug 26, 1851. 0. P. @.