Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-08-31
Of our fellow citizens became involved
SKETCH OF Mr., RAISTON.

oNE4Sh VI Mn hAA9AO-NH
New York Herald of Saturday.
Mr.. Ralston was the president Of the
Bank OF California, and he received the
liberal salary Of fifty thousand dollars
per year for his services. He was early
connected with the passenger traffic be-
tween New York and San Francisco,
and subsequently was member OF the
banking house of D1nahoe, Rslston u
Co. He was one of the committee Of
public safety which prevented the soutt =
erners from carrying. California out OF the
Union, and ne and his partner heade d
the sanitary commission subscription
with five thousand dollars each. He
made money by his pluck in the Washoe
excitement, and was among the first TO
start the Bank Of California, D. o. Mills
becoming president and Mr.. Ra!stOn the
ruling spirit As cashier he received a
salary of forty thousand dollars year,
and on the retirement OF MIR. Mills he
became the president. A3 an operator
he was noted for the bOidness and brill
liancy OF his achievements He ad-
vanced money largely to complete the
Central Pacific railroad, and more
than once he made 8 bold dash,
clearing his thousands as the
result of his spirit and foresight. Under
his energetic, sagacious and spirited
management the Bank Of California
tbrove, and within about twenty-fOur
months the accumulated earnings Of the
bank amounted to about fifty per cent.
of the capital. 1t was then decided to
issue stock for those entitled to this
amount, and to open books of subscrip-
ton for new stock to increase the capi-
tai to five million dollars gold, then
equivalent to ten million dollars curren-
cy. Everything worked well; cash
capital of five million dollars gold was
paid up, and the bank continued to do
business on an equality with most OF the
banking institutions Of the country. But
the crash came. The bank was con-
cernei in a great variety Of industial en-
terprises in California and the adjacent
States, the results of which are now we'll
known. In various ways the policy Of
the bank was one Of encouragement to
the young industries of the State. With
an astonishing command Of the details
Of business, Mr.. w. G. Rslston, the
manager, took an interest in every
scheme that promised to aid the COM
mercial prosperity of the Pacific coast
and yield q fair return on an investment.
Tue system of "spreading out" does not
seem to have affected the credit Of the
bank. On the contrary, up to quite a
recent period the Bank of CaliforniaEas
considered in that region ss stable as the
Bank of England. Among the recent in
vestments of Ralston was the Palace he
tel building, San Francisco, an enormous
structure, said to be the largest hotel in
the world. This caravansery, to cost
about two million dollars when finished,
was to be ready for guests on the first Of
October next. MT. William Sharon,
United States senator from Nevada, was
one of the owners in this enterprise, but
lately sold his interest to RalstOn for an
enormous sum. Mr.. Ralston was Of
medium hight, compactly built, with a
good breadth Of shoulder, high, capa-
cious forehead; thin, firmly-set lips; an
oval, well. shaped face, good features, a
steel-grey eye and great expression OF
concentration and extreme mental &C
tlvity. In manner he was cur, gene
rally brief of speech and to the point,
but able upon occasion to state his views
in their lalness with felicity, strength
and nervous vigor Of language. In habit
Mr.. Ralston exhibited intense applica-
ton to business, and an excessive indus
try. he was brief sleeper, and during
most of his working hours devoted him
self to the details of his vast official bus.
iness-besdes his considerable private
affairs, which should suffice alone to
keep most men Dugy-Wlth all his tre-
mandous energy. His dispatch of busi-
negs was somewhat marvellous, and the
popular belief in his infallibility
amounted to q superstition. His
opinion of men, business projects and in
financial matters generally was con-
sidered conclusive. His personal power
in the States and Territories of the Pa
cific was great. The influence Of the
corporation OF which he was chief off,
Ger was felt everywhere. Mr.. RalstOn in
1858 married a brilliant and accom-
plished niece of J. D. Fry, by whom he
had several children. The country resi-
dence Of Mr.. Fry was situated about
twenty-five miles south of the city in
charming valley known as "Diablo
Canyon.n Much has been said, from
time TO time, OF the magniticence, luxu-
Ty end beauty of Mr.. Ralston's private
residence, located at "DiablO Canyon
which is one OF the most beautiful val
leys in California, and as a location for
a country residence is certainly une-
qualed on the continent. Visitors to
California, if prOminet men, whether
lawyers, lecturers, editors, congressman,
distinguished foreigners, tinanciers or
business men, did not consider lat they
had seen the institutions OF the country
unless they had visited the magnificent
bank building and hsd been entertained
at the princely country seat OF Mr..
RslstOn, at Belmont, in Santa Clara
valley, not far from San francisco.
l. contains a splendid music hall,
and all the appointments Of palace,
and cost over two hundred and fifty
thousand dollars. MIR. RalstOn's chari-
ties were very considerable, but were
not done in manner TO be seen OF men.
One OF his characteristics was a fondness
for an unlimited number Of fine horses.
la the pleasant season of the year he fre-
quently drove between the city and his
country seat. He owned land near Bel
mont, and parts Of town sites on both
sides Of the bay south Of the city, which
he desired to render valuable by the
construction of a bridge at Ravenswood,
and direct line Of railroad following
the bay shore. With this object i'll view
Mr.. Rslston was willing that the city Of
San Francisco should be taxed two mill
lion five hundred thousand dollars, to be
given to a company to build the Ravens.
wood bridge; but the people did not un.
derstapd it in that way, From the part
he filed in the public eye Of San FraL =
cisco, the excitement caused there by
his suicide can be well understood, 1t
can only be compared to that in New
York which followed the shooting OF
Fisk.
EULOGIES AND HoN0Rs.
SAN FRANCISCO, August 29.-In the
city churches to-day the attendance was
unusually large, drawn by the memorial
sermons, delivered in many Of them, on
the death of Mr.. RalstOn. The general
tenor of the discourses was eulOgistic on
the popular, able and generous cbarac-
ter Of the deceased, with due disorimina.
ton in regard to the errors of his course.
The funeral tomorrow will undOubted'
ly be the most imposing ever witnessed
here. 4 great number OF civic and mill
tary societies, with other public and cor
pnrative bodies, have sjgaitied their in
tention of attending the OBJ equies, and
q larTe concourse Of citizens will unite
in paying the last topOr to the dead.
THE FUNERAL.
SAN FRANCISCO, August 3O.-The
fIneraI services OF Ralston are now being
held at Calvary (PresbyteTianl church,
corner Of GeaIy and Powell streets.
Obituary services conducted by Rev.
John HemphilI. The National Guards
are largely represented, ss are, also,
civic and benevolent associations, Off.