The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1875-09-01

rapt and incompetent individuals
have been elected to the city council.
The present condition Of the city
is the legitimate oonscq uence Of the
election of these men. 1t IS hoped
that the new council elected next
year will be great Improvement on
the present board. ...P "a
---------->s 90 <-----
A Sad Termination Of an Evontful Career.
Tho sad death of ". G. Ralston,
the President Of the Bank of Califor.
MIA affords a remarkable example Of
the vicissitudcs Of human fortune.
The Bank of California was or
ganized years ago with capital of
five million dollars in gold. The
remarkable prosperity of tho golden
State was shared by this bank, aud
it rapidly accumulated wealth and
power. It's directors were solid
business men, and its cashier, w. e..
Ralston, was ono Of the ablest fnan.
clers on tho Pacific coast. Under
his management it EXTENDED its
rami Gcations into different States, and
everywhere ito influence was felt,
Senator Sharon, tho Nevada n.illiou-
alre, owed his immense fortune to
his connection with this bank. Not
only did the Bank Of California con.
ol the financial Interests of Culifor.
MIA, but it was also an arbi,cr of its
poll tics. 1t entered into republican
and democratic conventions alike,
choosing its own servants as dele
gates, and electing it's tools to the
State Legislature and to Congress
In every respect it was tho power
behind the throne.
But the Bank of California with ali
its power was only tho instrument
Ralston was tho moving spirit that
directed its transactions, and by
virtue of this circumstance lis in.
huencc was felt in othcr financiuI
institutions. Scarcely manufactur
ing, miuing, or insurance oompan,
was there in California in which he
was not vioe-president or q direo.
tor. While he thus walked amope
the m' ncyed kings of San Francisco
1"tnsus inter 1ore$, he was also on,
of the lions of society. Wealthy
himself, and possessing unlimited
credit, he spent his money with
lavish hand.
! Ills private residence, Belmont
situated twenty eight miles from
san Franci.co, wns a perfect palace
fitted up With ull tho luxurics tha
art could desire and money coul,
procure. Here no was wont to ns
semble the beauty and fashion O
tho metropolis Mt entertainment
of the most magnificent description
On one OCCASION ho erected bal
room costing thousands of dollars
for tho celebration Of single /ete
Whom distinguished stranger Wis
tied San Francisco, Belmont was tn,
scene of his greatest ovation.
In State whose leading citizen
arc passionately fond of sporting
Ralston was ono Of the most mumfi
cent patrons of tho turf. lie ais
kept relays Of the finest horses. on,
was accustomed to ride out t,
Belmont evory afternoon after busi
ness hours, aud return the mex
morning. On one occasion, for
wager, no distancod with his phaeto,
tho passenger train on the Pacifi
Rond in race between Belmont an,
San Francisco. Many other auoc
dotcs might DO related to show til,
character of tho man and tho posi-
tion he held in the financial and tn,
polite world. It was but a shor
timo since, that every ono was doip,
homage to this remarkable individu
al. ............ ....
But the sage has said "No mn,
can be esteemed happy until afto
his doath." Evil days came upo,
Ralston. On Thursday last, tn,
Bank Of California suspended, afto,
having paid out enc million foul
hundred thousand dollars in colo
over its counter. It's liabilities mr.,
said to be fourteen millions, and it.
assets seven millions. This failure
camo like thunderbolt in tho clea,
sky. No baul; was considered tc
have moro substantial basis. Its
transactions were ali based upon
gold, contempt being shoyn fol
that rag money over which politicians
arc now bowling. But tho faith OF