National opinion. [volume] (Bradford, Vt.) 1865-1874, 1867-01-18
A BEGGARED MILLIONAIRE.

Lie tIdN lOIu oottIllii gives W.
following sketch of the fortunes of
johnny Steele, who was one of the
first of the petroleum millionaires:
This farm, more generally known
:. on the creek" as the widow Me
Clintock farm, is Immediately oppo-
site the tlourishing little town of
housewife, and was among the first
of the oil producing farms of the
valley. Early in 1868, the Slyke
well Oh this farm, flowed for some
time at the rate of 300 barrels per
day, and several wells yielding from
300 to 800 barrels were struck at
subsequent periods. Besides these,
there were many smaller wells, and
the territory, though sadly misinan-
aged, is still regarded as among the
best in the oil region. In 1864, wild
ow McClintock died from the effects
OF burns received while kilrlling Il
! fire with crude oil. At this time.
the average daily income from the
landed interest of the farm was
$1,000, and by her will the property,
with all her possessions III money,
was left without reservation, To her
adopted son John W.. Steele, then
about twenty years of age. In the
iron safe where the Old lady kept
her money, was found sl50,00O, two
thirds of the amount i'll greenbacks,
and the balance in gold. Mrs. Me
Clintock was hardly cold in her cof-
tin before young Steele, whOappcirs
to have had nothing naturally vi
ciouS in his composition, was sur
rounded by set of vampires, who
clung to him as long as he had a
dollar remaining. The Young mil
I iipnairc'S head was evidently turned
/ hy his good fortune, us has been
! that o. many an older man who
made his pile in OIL" and he was
OF the impression t!Iat his money
wouldsaetumulate too :apidly unless
it was actually thrown away, and
throw if away he did. " any Of the
/ stories concerning his carct '" in New
York and Philadelphia SAVIOR 'trong,
/ y Of fiction, and would not be "rcd-
tied, were they not 50 well auti On
! tIcntcd. Wine, women, horses. faro.
and general debauchpry soon made
wreck of that plinccly fortune,
and i'll twenty months johnny
1 Steele Squandercd two millions of
! dollars. Hon. John NorriSSey, VI.
{. went through" him at faro to
the amount of 100000 in two
nights he bought high priced turn
outs, and after driving them an hour
I or two gave them away equipped
Il large minstrel troupe and prcs.ut.
, ed each member with Il diamond
ring and kc,,t about him besides
two or three men who We're robbing
him day by day. He is now filling the
honorable position of dpoikcpper
for Skiil \ Gaylorl's MINISTRIES, the
company he organized, and is to
use a VERY expressive but not strict.
i ly classical phra e, completely
played ont
The Wealth obtained by those who
worked 50 aSSiduouSly to effect
+ Steelt's ruin. gaze little permanent
benefit 10 It's poSSpSSors. The PEP
/ son most brazcn and chiefly inStru
mental in bringing about the pres
ent condition of affairs. was the no
torIouS Seth Slocpm, WHO hung
around this city several weeks last
summer He was worth ut one
time over 100000, which ne had
" captured' from Steele and laid up
for rainy day, but when the Iattcr's
money vanished, the amount soon
took unto itself wings, and he is
ut present known among his old as,
SociatcS as A" dead beat" At last
accounts Slocum was incarcGrated
in the Jail Of a ncighbming county
for various breaches of the peace.
and was unable to obtain bail in the
sum Of $500. EXempliiicat.ons these
OF the old adage, easy come, easy
60 or tie other, " fools and their
money axe soon parted