The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1862-09-20

AANh VI AN0l NnANANg VII MAAAtn Mt EItfNfu
warehouses and obtained princely rem
tai. In addition TO this, he dealt more
largely in commercial paper than any
other man in the city and perhaps in the
Union. His habits of industry continu-
ed, and were a theme Of remark, as we
observed him in his daily walk from his
Office to the great mOneycd centre Of
America, where the price of paper and
money rates regaled his ears. lie was a
good judge Of paper, and needed no one
TO advise him. He touched nothing but
what in commercial parlance is termed
gilt-edged,' and of this he purchased al
mast daily for thirty years. These notes
being made payable 10 the order Of the
drawers, needed no other endorsement,
aud hence might pass through an hum
dred hands without this fact becoming
known. Mr.. Whitney's bills receivable
falling due in Wall street must have been
at the rate of thirty thousand dollars per
day, and his purchases Of paper, of course,
were at about the same rate. Much of
this paper brought rates but little better
than interest, but on others from one 10
two per cent per month was obtained.
The secrets of this trade are deep and
little understood, and few even of the best
dealers knew that when their notes had
been given for invoices of merchandise,
they passed almost directly into the
hands Of few bill-buyers, and that
perhaps in Stephen Whitney's portfolio
might be found almost the whole amount
of good paper made in Front or South
streets. Mr.. Kimball's recent work, Uli-
| drcurTents, throws much light on this
| traffic, and exhibits the result of deep
study of our mercantile system. Mr..
| Whitney's management of his estate soon
brought him up to an estimate of ten
millions. | used not only to meet him
daily at the mart, but also attended the
same church, OR. Alexander's.) lie was
| regular attendant, and close listener,
and | used to marvel how he could bear
the plain truths that fell upon my ears.
| Here in the pulpit, at least, was one who
was no money worshiper. How well we
remember the exclamation from that
earnest preacher Wealth in cOmpari-
son with this thing, (religion,) let it not
be mentiOnedp Whitney was great ad-
mirer of plain preaching, though, we be-
lieve, he never got into the communion Of
the Church. Both the preacher and his
| millionaire listener are now dead, and
the church has been pulled down, and
the site is now covered by a block of
splendid stores. Mr. Whitney's charities
were on very limited scale. When the
congregation above referred TO were build
ing a mission-h house, he was applied TO,
to head the subscription, which he did
with triding sum. The gift was re
fused, and larger one was demanded, as
in better keeping with his position. Sir,
was his reply, If you go on this way,
there will not be a rich man left in the
city of New York 1t is also said that
on a certain occasion, he was called on TO
aid a political movement with his sub
scription. Sir was his reply, Il have
no money TO spare, but I'll come and sit
up all night to fold ballots for you
| The LOrrillard estate was chiefly ac-
quired through an immense tobacco bus
mess which the patriarch of that house
started nearly century ago, and which
led TO the purchase of large landed prop
erty. The original identity Of the name
continues, and short cut and ladies
twist are still sold under the sign and
brand of the Lorrillards. We presume
that it is the oldest house in America.
The Sluyvesant farm was vast but
Improbable tract of marshes in the east
ern part of New York, but now covered
with serried blocks, and among the most
densely populated portions Of the city
Forty years ago, these marshes were ia.
vorite skating fields in winter and her,
n lad was at that time actually drowned
by the breaking of the ice. Being out OF
town, the drier portions were converted
into an American Tyburn, and here tht
murderer johnson was hanged. Sucl
were the Stuyyesant meadows, whose
worthless wastes have been raised {,
immense value by the growth of th,
city.
Among those of our city capitalist
who are more identified with genera
benevolence, the names of Stuart anC
LennOX are chief Messrs. Stuart ar,
two brothers, who are largely engaged
; refining sugars, and who have in thi
business made large sums. The concerr
IL originated in a small shop, where, iiltl
years ago, a Scotchwoman sold candy
with her two boys as clerks. Instead o
that little candy shop, there stands ol
b the same spot an enormous refinery
, whose operations employ hundreds o
hands, and whose purchases are by car
| goes What would the worthy mOthe
say TO this transformation of her shoI
q as by some act of magic But il is tn
q magic of industry and enterprise. Tn
b Stuarts use their wealth with iudiciOu
{ liberality, and evidently mean that th
world shall be better for their living il
> it.. Their contributions are large, an
I their opportunities are great, for be il re
p membered, such men are under incessan
4 solicitation. Indeed, there are few thing
n more fatal TO ones peace than a a repu
I taton for liberality, which lays one opc
d 10 a siege of begging faces and an inur
T dation of begging letters, whose demand
; would exhaust all resources. 1t is OF
i opinion that, avoiding ostentation ON II
i one hand and importantly on the othe
20 the Stuarts contribute ConscientiOusly
L every worthy enterprise, in a proportio
. corresponding to their proiiist
p The name of LenON appears amor
- some Of the early Scotch emigrants, sac
d as the lryings, Masons, Douglases, Cir
& hams, etc. Robert LenoX became a di
s tipguished New York merchant. IL
20 profits were wisely invested in land, an
j. this became very valuable. His ON
" son, James, inherited the larger porti,
j. of this estate, whose increasing walt
n made him a millionaire, and in its us
.- he has exhibited remarkable bcney
{ lence,
X We say exhibited, for though aciI
J. with studied secresy AM silence, his i
a ssuge writing the above, Ne have heard 'i q
II masterpiece 0f uunihcenCe tha Eiu ui my u9us
io dollars 90 the theological seminary ai Princeton
'e tut hessu stuart