Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1868-02-23
Fool AND HIS MONEY.
The Application OF JOhnny steel,7
the Late 0iI Prince, 10 he Admitted
I'm Bankraptey-A Few Incidents OF
Ais Career as n Millionaire. a


From the Pittsburg Leader. m
John w. Steel, fsmiliarly knoSh as
JOHNNY" Steel, aud somewhat distin-
gnisbed a. an sfoil prince" having for 8
considerable length of time enjoyed the
princely income Of $1,000 per day, flied, in
the United States District Court last week,
a voluntary petition in bankruptcy. Many
Of our readers will remember his romantic
exploits in the East, Published some time
ago, during which he is reported to have
squandered several hundred thousand dol
lars. After having "soEed his wild oats"
and losing his oil farm, he found himself
in rather straitened circumstances, and was
recently compelled 10 earn q living by
driving an oil team. His indebtedness, as
set forth in his petition, amounts to over
100000.
Steel is Pennsylvania by birth, aud is
now in the neighborhood of twenty-three
years OF age. He has had bat little ednca-
ton, has no business qualifications or
shrewdness, and seems especially cut ont
by Dame Nature 10 attest the truth Of the
proverb that "a fool and his money are
soon parted" OF his early youth we know
very little; manhood and riches sprang
upon him about the same time. His in
terest in the famous MClintock farm and
oil wells, in Yenango county, bequeathed
him by his father, for a number of years
yielded him an income of $4,000 per day.
This princely income was the means of
awakening in "Johnny" an ambition to
seek other fields ana sources of amuse-
ment than those offered in the wilds Of
Venango. We heard of him first by his
lavish waste of wealth in Philadelphia.
Here he made the acquaintance Of Messrs.
Skiff & Gaylord, of minstrel fame, and one
of his first rash purchases was an entire
new outfit for the minstrels, composed Of
velvet coats and vests and plain trowsers
(many of our readers will remember the
troupe in this uniform). To those eccen-
trio costumes he added diamond breastpins
of the first water, and new suit of clothes
for each member for the street. Several
members of CarncrOss IL Dixey's minstrels,
of Philadelphia, were also favored in the
same manner
Another of "Johnny's" eccentric acts 10
Philadelphia is related as follows: Walk
ing along Chestnut street one day with
friend, he espied beautiful span of horses
attached to SPLENDID carriage, just turn
ing down from Second. To see was TO
envy 80, hailing the driver, Sam. Nj,
who, as it happened, was also the owner,
johnny" coolly asked him if he wouid
sell his establishment. Sam. looked cred
uonsly at the customer, wondering if he
we're drunk or crazy, when Johnny again
put forward the question: GWhat will you
take for the whole rig?p Sam. with
wink, and while knocking the ashes from
his cigar doubtless thinking to frighten his
unknown questioner, replied, "Well, /
guess about $1,000 will take the lot"
"JohHny" answered by laying seven one
thousand dollar bills on the seat of the We
hiele and, taking hold of the reins, coolly
said, "Hop ont )" and chop out" Sam. did,
while johnny" drove of, leaving Sam.
standing in amazement on the corner. The
| day was spent in riding about the city, and
spending money lavishly toward evening
he had employed a man to drive, and
finally, while winding up the day, he
reached the Girard House, alighting on the
pavement he asked the driver as to his cir
cumstanees, and learning that he knew
'the grip of poverty" "Johnny" made
him present of the carriage and horses,
telling the driver not to.offer thanks, but to
"drive of quick
While in Philadelphia, one of the ec-
centricities of his morning walks on Mar
ket or Walnut streets, was to watch for a
man with a shabby hat. He would then
follow him until he got in front of hat
store, and then, with a full swoop, he
would land the offending hat into the mid
die of the street, at the same time apollo
/ gizing TO the wearer, and asking him into
the store, where he would buy him the best
! to be had.
Johnny" never carried any baggage
with him while travelling, purchasing
| everything as he required it, Having re-
solved one day to stop at the Continental
Hotel, instead of his usual retreat-the
| Girard-he was driven there Ia company
with friend, Mr. VIM By, noted
merchant of our own city. Sauntering up
to the Office, he made known his desire to
"stop awhile" The clerk asked him as
to the whereabouts of his baggage
Johnny" replied that he had none.
"Then," says the clerk, you must pay in
advance; that is our rule" Johnny y
cast glance at him, and wondered that he
was not known. SO, winking at his friend
B., he asked the clerk if the proprietor was
1 ih III hAAAtualAN e
the landlord soon made his appearance
when conversation of the following tenor
ensued
j. s." You are the proprietor, be.
lieve, sir-the responsible man ?"
Mr.. K.-"Yes air"
J. ST. wanted to make a short stay
with you, but that gentleman (poiuting tC
the clerk says | must pay in advance"
| Mr.. K.-Well, sir ?'
J. S.-"How much do you consider You
ichole house worth for day? p
Mr.. K.-"About $3000."
]. S.-"Pli take "a hours, anyhow, anC
see how il goes"
Johnny then counted out the money, anC
turning to his friend, saws: "Now, Bill
Jump in aud play clerk" Rumor say
this was BIS first and only experience il
bookkeeping.
There are many anecdotes related abOu
him, but the above will suffice TO show tn
general character of the man. When
more recently, the avalanche Of money ha'
exhausted itself, we hear OF Johnny" sci
ing in the capacity of ''door- keeper" 70
the very same band of mins;rels the mem
hers of which he had given the damon
pins aud costumes.