Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1867-01-03
n Beggared millionaire.
The Romance of Poor Young Man-"Eas
Come, Easy Coz

Come, Easy Co."
The history of the Steel farm and
its late owner is n lesson TO young
men who suddenly acquire wealth.
We copy from the Oil City Daily Reg
lister awe noticed in brief, in yes
terday's paper, the sale Of the John
w. Steel, more familiarly known as
the Widow McClintock farm, by the
U. S. Deputy Collector, TO satisfy the
claim of the Government for taxes
due. 1t was bid in by the Govern
ment to secure the claim amounting
so 81 600. At previous sale by the
Sheriff of this county, $4,000 was
stopped, the Government proving pri.
or claim. The claims against the
property are heavy.
ga brief history of this farm may
not prove uninteresting TO a large class
Of our readers. The Widow McClin-
tock farm, consisting Of about 100
acres, is Immediately opposite the
fourishing town Of Housewife, on Oil
Creek. 1t was one Of the first among
the oil producing farms Of the valley.
The Van Slyke WELL on this farm,
struck early in 1868, produced for
some time. at the rate Of $500 barrels
Of oil per day. Besides these, there
have been a large number of smaller
producing wells on this The leases
obtained from Mrs McClintock ex.
pired with her death. During her
lifetime the farm was well managed
and highly remunerative. In 1864
Mrs McClintock died; her death was
caused by being badly burned while
kindling a fire with crude oil. After
her death, it was found by her will
that the farm and all her possessions
were left entire TO her adopted son,
John w. Steele, youth of nineteen
or twenty. The daily income of the
farm, accruing to the land interest, at
the time Of her death, averaged about
$1,000. In the iron safe where Mrs.
MoClintock kept her money, was
found $40, 600 in gold, and 500, 900 in
grcenbacks. All this fell to Mr. Steel
as heir. He was young man of fair
average principles, but uneducated.
No sooner bad he obtained possession
Of his property, than he was surround
ed with parasites. He proved an
easy victim to these sharpers, who
went with him all the time, and he
gave no heed 70 the counses of those
who were his best friends. The young
millionaire's head was evidently turn
cd by his good fortune, as has been
that Of many an older man who made
bis "pile in oil, )" and he was Of the i'm
preston that his money would accu-
mulate too rapidly unless il was actu-
ally thrown away, and thro il away
he did. Many Of the stories concern
ing his career in New York and Phil
adelphia SAVIOR strongly Of fiction, and
would not be credited, were they not
so well authenticated Wine, women,
horses, faro, and general debaucbcry
soon made a wreck of that prineely
fortune, and in twenty months Johnny
Steel squandercd two millions of dol
lars He bought high priced turn outs,
and after driving them an hour or two
gave them away; equipped a large
minstrel troupe and presented each
member with a diamond pin and ring.
and kept about him besides two or
three men who were robbing him day
after day. lie is now filling the hon.
orablc position Of doorkeeper for Sl1ifi
and Gaylord's MINISTRIES, the compa-
ny he organized, and is, to use a very
expressive but not strictly classical
phrase, completely "played out"
at is the same old story Bad
company and debauchery soon caused
him to get rid of his property. We
won't envy those who took advantage
of his inexperience to plundor him
The wealth thus obtained will be of
no permanent benefit TO its possessors.
To finish the history we will merely
state that Mr.. Steel is now reduced to
poverty, and is Stunned by those who
iawned upon him in his day Of pros
perity. The farm is valuable one,
but is at present encumbered with
debts incurred by its dissolute owner.
If it should fall into good hands, it
would be one of the most productive
farms in the oil region.
"The wealth obtained by those who
worked so assiduously to effect Steel's
ruin, gave little permanent benefit to
its possessors. The person most bra
zen and chiefly instrumental in bring
ing about the present condition Of
affairs, was the notorious Seth Slocum,
who hung around this city several
weeks last summer, He was worth
at one time over 100000, which be
had captured" from Steel, and laid
aside foI a rainy day, but when the
latters money vanished, this amount
soon took unto itself wings, and he is
at present known among his old asso-
ciates as q "dead beat. At last ac-
counts Slocum was incarcorated in the
jail Of a neighboring county for vari-
Gus breaches of the peace, and was
unable TO obtain bail in the sum of
5000. Exemplifcations these OF the
old adage, "easy come, easy 60" or
the other, "fools and their money arc
soon parted. -"
FEMALE SUTFRAGE-Scnator Wade,
of Ohio, has written letter to Miss