Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-08-01
DIMOCK'S DOWNFALL.
The Man Who BuiIt the COStIiest Pri.
waite Residence I'm America

New York SIM.
The palace which Anthony w. Dimock
built in Broad street. Elizabeth, is before a
Master in Chancery. When, in 1871, Di-
mock, then thirty-tiye wears Of age, began
the erection of the building he was one of
the leading men of Wall street, his wealth
being estimated at SS,OO0OOO. The struc-
ture is octaSOnal. three stories in height,
aud of the finest brown stone. The inte-
rior is wholly of black walnut, Ibirdseye ma
pie, mahogany, and polished Carrara mar
Die. imported from Italy specially for Di-
mock. The reception rooms, parlOTs and
dining rooms are inlaid and adorned with
different binds of woods from ceilings to
floors, aud foreigners who have looked
through the deserted mansion pro-
nOunce it 4 marvel of extravaganza. The
furniture and upholstery were bought in
London and Paris at an expenditure OF
ninety thousand dollars in gold. 4 part
of the furniture arrived in this country
when tie building weS near completion,
and was placed il the apartments for which
it was intended: bat misfOruneS overlook
the owner, and within one week he retired
from Wall street ruined man. His cred
itOrs, however. refused to take, or were not
aware of the rich prize within their grasp,
and all the gorgeous furniture was spirited
away in the night, and was saved 10 him.
self and his family, with a few thousand
dollars, as a nucleus for new beginning
in the world.
The interior work in the palace was done
| by Purdy. Of New York. His unpaid bill
! is $4,000. Mr.. JacObuS, also of New YORK,
| holds mortgage of $500 o on the proper
tv, and the question to he decided in the
courts is that Of the priority of the claims
| Of these two gentlemen. Purdy has al
| ready placed a lien ON the house. The
/ Mutual Benefit Life Insurance Company of
! Newark has L mortgage Of $4,000 on II;
! but that is uEquestlOned. The present
owner is DR.. Rowan, Of Philadelphia, who
took the house NJ a nominal value Of $500
900. exchanging for il various pieces Of
property.
! Young DimOck made his first appearance
on the street as 4 clerk for Henry g,
! Marluand. banker, about 1865. His salary
was only $3.50 year, and aSi he was quiet
young man he was not supposed 10 possess
remarkable merit. Gradually, however
his shrewd moves and unerrlng calcula'
tions in regard 10 the rise and fal of gold
drew the attention of his employers toward
him. and he was placed in a more response
BILE position. With great foresight anC
luck. he emassed large sum by specula
ton. aud the fact, reaching the cars Of IN
employers. displeaSed them. He was thel
informed that his services We're no longe
required.
The house Of \. W. DimOck * Compam.
was the result. Ii soon became one Of tn
leaders of The street. and drew tOitself sue
; men as Daniel Drew and Cornelius Van
: derbilt. 1t is said that Dimock nette'
S1.jOO.O0O III a little over thirteen months
work. making 100000 in a single day. y
! this time he lived in Elizabeth, y. j
At length he turned his attention TO rea
= estate. and purchased a large tract Of Ian
in TarrytOwn. On this he built handSOm
I residences for speculative purposes, aud di
well.
r In 1865 DimOck became deeply interest
= ed in the stock of the Atlantic Nail Sean
= ship line, and held many thousand share
e for himself and others. 1t is said that
pool was formed with other banker:
among whom was Uncle Daniel Drew,
= s.bear' the stock. They held their lOa
, manfully until the willy Daniel began
: unload. aud in one day the stock fell frOI
90 to %. DimOckS losses within six hOul
e were upward of 81, 100000. Involved o
1
I disposing Of his vast property at TarTytOw
8 and other points, and in a very short tim
1 was enabled to resume business, but with
' limited capital.
Y Nothing daunted, however, DimOc
q again dabbled in Atlantic Mail, and 500
a became the principal stOckhOlder, and vi
), elected President. Shortly after this Sc
ond venture, bis wife purchased thr,
hundred acres of valuable land in EliZabet
for Sj00,OO1, and Dimock commenced Il
IL erection of handsome villas which readi
= found a market with New Workers.
e 500 he built at least twenty residences
s. Elizabeth, .alued at from $4,000 to So
= 900, and gradually drew a colony of Ne
l. York capitalists in and around what
y known as Equality HILL The Atlant
:. Mail line, however, proved an elepha
:, on his hands, and after the loss Of q
finest steamer of the fleet, the Missouri
L which was burned off the Bahamas, mi
re fortune seemed TO mark him for her Ow
IL rs the line became a by-wOrd among Il
e merchants, and every vessel on arrival
Ie this port was seized for debt, and to be ]
leased only on President DimOck's givi
?. heavy bonds. The Elizabeth speculate,
70 at this ii e became failure: house aft
~ house was mortgaged twice and thrice, a
I, the money went to pay other and accum
n lating debts; at last the Atlantic lines c,
IL lapsed, and DimOck's property in Eli
lie beth-Save that which was i'm his wifi
1t naIne-was seized, and is in litigation.
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