New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-03-23
WALL STREET SECRETS.
W snderful Career of n NliiliOnnire Finns.
cief-Ten Aillions Made is Three
Xenrs.
iFror, Iii. Sev Yo-l sup.-

V snderful career of n MiiliOnnire Finrs.
cief-Ten siillions siadr is Three
Henrs.
From ehe New York SuD.'
Mr.. Alden L. stockweIi. the president OF
the Pacific Mail steamship Company. over
whose affairs rumor has been very busy IN
the money mart and clubhouses during the
past few days. or since the company's stock
began to deprecis:e, is one OF the most
prominent spectators u Wall street. Al
though comparatively unknown outside OF
dn9ncia! circles, he - q central Inquire
among the millioH aires on Change. With
in the space OF three wears he has present
ed an example OF p~ecuniary success lar ex-
ceedins the expectations OF the most san
2uine Worshipey Of MammOn. Prom or
binary circumstance he has risen TO be the
possessor of fabulous wealth. and TO share
with Jay Gould and Henry n. Smith the
reputation OF being the most wealthy
among the entire operators on the
street. His deeds ~ monetary dar-
ing have been numerous and note.
WORTH, and have been conducted on a
scale OF greater magnitude than those ot
the veterans on the stock market. like Com
mod0re Vanderbilt and Uncle Daulei Drew,
ever dreamed OF undertaking.
Mr.. StockVell is Of humble Varentage, his
father being at one time in the livery stable
business in Cleveland. Ohio, where the
great steamship manage was born. Tie Is
about twenty five year. old. The turning
point in hiA career, which had previously
been quiet and uneventtui, occurred IN 1863,
while he was acting as purser on one OF the
Potomac river boats. On one OF the yes
sels's trips down the river from Washing
ton, the late Elias Howe, of Connecticut,
the distinguished inventor Of the sewing
machine, was q passenger. with his eldest
daughter in his company. Young STOCK
well was very attentive and cOnslderate
of the comfort OF Mr.. and Miss Howe,
and extended more than the custom
airy courtesies 60 them. The acqusint-
ance which was then formed be-
tWeeB the pUrser and the Howes was
renewed in the following year in Paris,
where the father and daughter went for
their health. The future millionaire was
quick to journey after them 20 the French
capital, after collecting all the money at his
command 70 enable him 90 travel ia style.
On his arrival there he laid aiege To- the
affections of the young lady, and was not
long IN obtaining her consent to their mar
riage. Mr.. Howes sanction was secured,
| and they were welded with much eclat.
They tarried amid che gsyeties of Paris tor
q short time after their puptisls. and then
returned to this country.
Subsequently. Mr.. UoWe's second dargh-
ter was introduced TO Mr.. StOckwelPs
brother, Colonel Levi B. Stockwell. and be-
fore many months a new match had been
formed. Mr.. Howe died in 1869, and left
all his vast property TO his daughters. Soon
after this event, Mr.. Stockweli threw him
self into the arena of the bulls and bears.
At first he confined himself to small in
! vestments, but gradually launched into
heavier and more colossal operations. IA
ciic Mail was his ~tavorite stock. and under
his manipulation it rapidly advanced IN
value. He purchased share after share,
and made it an active stock. His ambition
had led him 20 become a director in the
company. After getting himself elected a
director, ne aspired to the presidency of
the corporation, to which he also got him
self chosen. Once in the coveted seat, he
began 20 consider how he could keep HIM
self without being obliged to carry the
stock of the company. 4 solution was pre-
scented in the Panama railway.
The stock of this road was selling very
low, and Mr.. Stockweli seized on it as the
instrument which was to keep him in con-
tro! of Pacific Mail. He knew that the
steamship company was powerless without
the railway by which its passengers and
freight were carried across the isthmus. and
that the possession of its stock would ena-
Bile him to unload himself OF Pacific Mail.
and at the same time prevent his remova
from the presidency. He therefore sold
snort OF racine Mail. which I1eury N
Smith began buying in, in the hope OF
creating a corner. The stock dropped
several per cent. and after Smith
had secured the most of it. he con
tracted with Mr.. St0ckwell to sell it back
at ninety in three months. Before the con
tract could be fulfilled, the Northwestern
gale swept over Wall street. and ~unexpect-
eddy stranded Smith, who was just as eager
to get the Pacific Mail off his hands as he
was previously anxious to carry 1t. Specu
latOrs say that he beseeched StOckwell
with tears in his eyes. to take it back. anG
that it cost hin a bonus of 500, coo before
he could be released from the contract.
The fortune which Mr.. StOckwell has
amassed from his different speculations hat
been variously estimated at from eight t.
ten million dollars. How much of this ht
has lost in the recent fluctuations in Pacific
Mail is yet unknown.
In personal appearance, Mr.. S~tockwell L
medium-sized, and possesses a penetratin!
blue eve. He wears a mOustache and flow
ing English side whlskerS of red color. Ill
is very quick and decided in his manner
His house on Madison venue corner o
Thirtv-ninth street, is one of the most ele
CANT and costly in the city. 1t is furnishes
in q style of the greatest grandeur. Ever
the tenders around the CRATES In the draw
ing-room are of gold. Mr.. StOCkwell los
his wife about a year ago. and il is now re
ported in fashionable quarters that he l
engaged to a ~well-known New York belle.