The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1873-01-30
RUINED FAMILY.
The Career of Edward Stiles Stokes
His Relatives and Victims.

In the year 1888, Edward H. Stokes,
successful cloth merchant OF New
York, and nearly connected with
some OF the most prominent represen-
tatives of the wealth aud beneficenos
Of that city, retired from business
with handsome competency. Eight
years previous he had married . Miss
Siles, daughter of q leading Phila-
delthian, and, seeking home of ease
and elegance. Mr.. Stokes chose Phila-
delphia as his future residence, There
hts eldest son was born In 1889, aud
named Edward Stiles, after maternal
relative. The lad was boy Of unusual
beauty and promise, quick, active
mind, q generous and loving DISPOSE
tion-these traits being remembered
we'll after the lapse of years by those
who knew him at that time. Two
daughters and two other sons were
born in the period between ls4O and
1850. The family is recalled a. being
rarelv endowed with all that seemed
needed to insure the happiness Of .
household. The home was one of
wealth aud luxury, the culture of the
best.
Edward was educated ut the Uni
versity, and took high rank as .
scholar. He went to New York at
the age of II, to enter into the store of
Samuel Perry, on South Water street,
an extensive cheese dealer. Perry
failed three years later, and young
Stokes made new partnership with
ajunior Of the collapsed house, and
they, as Stokes & Budlong, opened .
cheese store on Vessey street. They
had excellent success, their foreign
shipping trade being very large, call
ing Stokes to visit Europe several
times within the next few seasons.
About this time the senior Stokes was
induced to remove to New York,
where he made his Office with his son,
though not originally intending to be-
come entangled in business. such
was the result, however, and not only
were the father, but other and promi-
nent wealthy relatives, gradually but
heavily involved in the extended ven-
lures Of Stokes 4 BudloRg. The fail
ure of the firm followed, and father
and SOP were thrown into bankruptcy.
With the wreck OF his fortunes
young Stokes embarked next in tho
enterprise Of establishing an oil re-
finery at Hunters Point. Three hum
dred thousand dollars were expended
in the works, which were to be of the
best class, when the company fell into
difficulties, and at this juncture the
baleful lig ht of Jim Fisk's countenance
comes into the story. Jim was in the
full tide Of his operations with Erie.
He held the advantage I've wish 1t
were less employed by even more
scrupulous railway managers than he);
supplied by his corporation, In trsns-
portation and control of market, q tho
Erie was the great thoroughfars to the
oil legions. A compact was struck.
Fisk entered the refinery company,
reinforced its capital, and with Q
change of name and heavy ''draw-
backs" on the Erie freight bills, the
Hunters refinery sailed strongly into
successful competition, Stokes was
secretary as we'll as partner. At one
time bis profits from the refinery gave
him 81 900 per week.
In 1854, Stokes married the daughter
Of J. w. southwick, . prominent
furniture dealer In New York, one 81
the oldest In his line In that city. A
short time since one Of our oldsst resi-
dents showed us . ret OF furniture. .
wedding outfit, brought to Chicago In