The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1867-01-25
THE TIDE TURNS.

The following very romantic, yet
truthful story, has just been told US by
one who is pretty well posted. 1t is
another proof of the end that awaits all
fast young bloods. The hero ofthesto-
ry is John Steele, young man only
twenty-three years of age. By the
death of an old lady named Widow
McClintock, who died from the effects
of burns received while kindling fire
with crude oil, he came in possession OF
all the old lady's property. The farm
of the widow was on Oil creek, in Ven
ango county, and was known as the
Widow McClintock farm. 1t is imme-
diately opposite the fourishing little
town of Housewife, and was amongst
the first of the oil-producing farms of
the valley. Early in 1868 the Van Slyke
well, on this farm, was struck, and flow
ed for some time at the rate of2500 bar
rels per day, andseveral wells, yielding
from 200 to 800 barrels, were struck at
subsequent periods. Mrs. McClintock
was hardly cold in her coffin before
young Steele, who appears to have had
nothing naturally vicious in his COM
position, was surrounded by set of
vampires, who clung to him as longas
he had a dollar remaining. The mil
lionair's head was evidently turned by
his good fortune, as has been that of
many an older man who made his pile
in oil, and he was Of the impression
that his money would accumulate too
rapidly unless it was actually thrown
away, and throw itaway he did. Many
Of the stories concerning his career in
this city and Philadelphia SAVIOR strong
ly Of fiction, and would not be credited
were they not so we'll authenticated.
Wine, women, horses, faro and gener-
al debauchery soon made wreck of
that princely fortune, and in twenty
months Johnny Steele squandered two
millions ofdollars. Helost in this city,
at faro, over 100000 in two nights; he
bought high-priced turn-outs, and af-
ter driving around an hour or two,
gave them away. He organized the
Skiff& Gaylord MinstrelG, and put them
on the road in tip-top shape. He trav-
eled with the company for some time,
enjoying himself hugely, paying pretty
dearly for his experience in the show
business. He lavished upon music hall
performers ofthe females persuasion the
most costly presents. To popular vo-
calist engaged at Trimble's Varieties,
Pittsburgh, and who caught his seye, he
gave a $4,000 diamond ring, and squan-
dered his money in the like manner
upon other members of the profession.
He is now, we are told, filling the posi-
ton of door keeper for Skiff & Gay
lords Minstrels, the company he or
ganized, and is, to use q very express
sive, but not strictly classical phrase,
completely "played out" The wealth
obtained by those who worked so assid-
uously to effect Steele's ruin gave little
permanent benefit to it's possessors.
The person most brazen and chiefly in
strumental in bringing about the pres
ent condition of affairs is said to beSeth
Slocum, who hung around Meadville,
Pa, several weeks last summer. He
was worth at one time over 500, 900,
which he had captured" from Steele,
and laid aside for arainy day, but when
the latter's money vanished, this a.
mount soon took unto itself wings,
and he is at present known among his
old associates as a gone coon. At last
accounts Slocum was incarcerated in
the Jail of neighboring county for va
rious breaches of the peace, and was un-
able to obtain bail in the sum of $500.
Exemplifcations these of the old ad-
age, "easy come, easy co." or that 9TH
er, "fools and their money are soon
parted" The farm was sold recently
for tax due the Government.-Nea0
York Clipper. e..