Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-01-06

| Some Account Of the late Boston
Msllienalre..BIOw luIS Zen
Il Provided For.
B..,.n Correspondence n. y. Times.

Bes,sn Correspondence y. Y. Times.
The improvements nov going en- in this
city are OF marked character, and the I'M
usual number Of large. elegant and costly
structures that are being fnished excite
the comment Of observing suapgers.-
Prominent amspg the new buildings is the
"Sears Building" now up TO IFS third story,
on the corner Of Court and Washington
streets. 1t 10 built Of marble. and - being
flushed without regard to expense, under
the direction Of the trustees Of the "Sears
estate" This estate embraces very large
amount Of property located in the sctive
business portions Of the city. add 70 sausd
at fabulous sum. Joshus Sears was On
eminsntiy successful merchant Of Boston.
lie died On Feb. I, 1857. Ut the sgs Of 10
years, and left property valued at u, oo0.'
600. lie came to this city from Yarmouth,
Mass, when he Was II years old, poor, ana
entered rs an apprentice in counting.
room On Long wharf, where he remained
I'm Ill he attained his majority. Business at
that time vas depressed, IN consequence OF
the embargo, and, instead of remaining
idle, he went down 70 Cape Cod, where be
taught school until times were better
Returning 10 this city, he formed . CO.
partnership with Oliver Hallet, Ut NO. ~
Loaswharf, and about the same time he
became silent partner in the firm o. Burn
ham < Burt At the end Of three years
Burnham retired, and Sears continued the
business alone until his death. Mr.. Sears
was man Of great shrewdnsss, perssver-
ancs, and industry. and these coupled
with remarkable business talent, enabled
him to accumulate . large fortune. Mr..
Sears csme near passing frem earth with
cut An heir to enjoy his immsnss fortune
He lived . bachelor . great portion Of bis
life, and il Vas not until he WAS past the
sxs Of 81 that hs married. He len ess
CHILD, sen. born Dec. %. 1854. Ar.Sesrs'
wife died few days after the bearth Of the
ehiid. The child 10 now fourteen years Of
sge, and he 10 populasly supposed to b the
richest boy in the United States. After
bsqueathing el07, 900 70 his brsthsss asd
relatives, and ei5, 900 to Yarmouth, bis
native place, for the sstsblishmsnt Of .
nautical seheel. NJ. Ssavn provided tina,
bic son should have $4,000 annually until
attaining the age Of 81; the sum Of $40 900
At that period T; $4,000 annually until he
has passed the eye Of "a $4,000 annually
uush ~ oOs RooOWo s"o ~ ~ W. WV
$50 900 per annum after that time Young
Sears is we'll provided for, to cay the least !;
but he 10 not. perhaps. the richest young
man in America, as 10 commonly supposed.
"rhus, so much money shalt thon have.
and no more" seems TO have been the in
sention Of the rich father, wLo knew the
value Of money and felt content TO bequsath
the young nan Sufficient to give him =
COED education. and funds enough to Gem
aencs business with in good shape seven
years hence. The proper , remains in the
hands Of ikrss trustees, and The simple in
tsrsst on the o.ieinal amount added 10 the
principal, has reached the sum Of $780,
coo, while tho assessed value Of the real
estate bringing this sum is .lued At 500,
100000. The trustees have . salary Of
Is CO zach, and tho commissions re-
ceivod from tho collection u the rents
amounts to sum equal to the ssiary Of the
president Of the unned States. Young
Sears is now in Europe, wlers lie is fitting
himself for the active duties Of life