The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-03-10
A Fool and His Money.
THE APPLICATION OF "JoHNNY STEEL" Tm
LATE OIL PRINCE, TO BE ADMITTED IN BANK
Ruprcy-A FEW INCIDENTS OF BIS CAREER AS
MILLIONAIRE.
The Pittsburg Ledger gives the following

The Pittsburg Ledger gives the following
sketch of the history of a snob:
John W. Steel, familiarly known as "Johnny"'
Steel and somewhat distinguished as an coil
nrince.n having for o considerable length OF
time enioved the princely income Of $4,000 per
dav filed. in tho United States District Court
last week. n voluntary petition in bankruptcy.
MANY of our readers will remember his roman
tic exploits in the East, published some time
ago. during which he is reported to have
sauandered several hundred thousand dollars.
After having "sowed his wild oats" and losing
his oil farm, he found himself in rather strait
ed to earn o living by driving an oil team.
His ri indebtedness, Us set forth in his petit
ton 1 amounts to over 100000. Steel is
n Pennsylvania by birth,' and is now
in the neighborhood OF twenty-three
Years Of age. He has had but little edu-
cation. has no business qualifications or
shrewdness, and seems especially cut out by
Dame Nature to attest the truth OF the pro
verb, that ga fool and his money are soon
parted Of his carly youth We know very
little: manhood and riches sprang upon him
about the same time. His interest in the
famous M'Cintock farm and oil wells, in We
mango County. bequeathed him by his father,
for n number Of wears yielded him an income
of $4,000 per day. This princely income was
the means Of awakening in Johnny" IN am
bition TO seek other fields and sources OF
amusement than those offered in the wilds OF
Venango. We heard Of him first by hls lavish
made the acquaintance Of Messrs. Sliff & Gay
lord. of minstrel fame, and one OF his first
rash purchases was an entire new outfit for the
Ministries. composed Of velvet coats and vests
and plain trowsers (many Of our readers will
remember the troupe in this uDiform). To
those eccentric costumes he added diamond
breastpins of the first water, and new suit OF
clothes for each member for the street.
Several members OF Carncross & Dixey's min
strels, OF Philadelphia, were also favored Id
the same manner.
Another of "Johnny's" eccentric acts in
Philadelphia is related as follows: Walking
along Chestnut-street one day with friend,
he espied beautiful span Of horses attached
to splendid carriage, just turning down from
Second. To see was to envy; 80, hailing tie
driver, Sam NJ, who. as it happened, was
also the owner, "Johnny. cooly asked him it
be would sell his establishment. Sam looked
credulously at the customer, wondering II ne
were drunk or crazy, when Johnny" again put
forward the question:: what will you take for
the whole rig2" Sam, with wink, and while
knocking the ashes from his cigar, doubtless
thinking to frighten his unknown questloner,
replied. "Well, | guess about $1,000 Will take the
lot" Johnny" answered by laying seven one
thousand dollar bills on the seat OF the We
hicle, and, taking hold OF the reins, coolly
said, "Hop OUT" and chop out" Sam dld,
while "Johnny" drove off, leaving Sam stand
ing in amazement on the corner. The day was
spent in riding about the city, and spending
money lavishly; toward evening he had employ
ed man to drive, and finally, while winding
up the day, he reached the Grard House,
alighting on the pavement ho asked the driver
as to his circumstances, ard learning that ne
knew ''the grip Of poverty. Johnny" made
him present Of the carriage and horses, tell
ing the driver not to offer thanks, but to "drive
off quick"
While in Philadelphia, one of the eccentrici-
ties of his morning walks on Market or Walnut
streets, was to watch for man with shabby
hat. He would then follow him until he got in
front Of hat store, and then, with q full
swoop, he would land the offending hat into
the middle Of the Gtrcct, at the same time
apologizing to the wearer. and asking him into
the store, where he would buy n,lu the best to
be had. -,
s'Johnny'' never carried any baggage with
him while travelling, purchasing everything as
he required it. Having lesolved one day to
stop at the Continent II Hotel, instead OF his
usual retreat-the Girard-he was driven there
in company with friend, MIR. William y,
q noted merchant Of our own city. Saunterlng
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. "rhen," said the clerk,
ttyou must pay in advance; that is our rule. p"
"Johnny" cast glance ct him, and wondered
that he was not known. So, winking at his
friend B., he asked the clerk if the proprietor
WAS in; receiving q reply in the affirmative, the
landlord soon made his appearance, when
conversation Of the following tenor ensued:
J.S.-'sYou are the proprietor, believe, slr
the responsible man?"
Mr. K.-"Yes Sir"
]. ST wanted to make short stay with
Won. but that gentleman (pointing to the clerk)
says must pay in advance"
Mr.. K.-"Well sir ?"
J. S.-"How much do you consider your
,rhole house worth for dsy?"
Mr. K.-"About $3000?"
J. S.-'1n take twenty-four hours, anyhow,
and see how it goes"
Johnny then counted out the money, and
turning to his friend, says: "Now, Bill, jump
in and play clerk" Rumor says this was BIS
first and only experience in hotel-keeping..
There are many anecdotes related about him,
but the above will suffice to show the general
Character Of the man. When, more recently,
the avalanche of money had exhausted itself,
we hear Of Johnny" acting in the capacity OF
"doorkcoper" for the very same band OF min
strels the members Of which he had given the
diamond pins and costumes.