The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-08

How the chic of the Washineton Ring hn-
Accumulated Wealth.

WAsu1NGroN, Nov. boss Shepherds
real estate operations have long been the won
der of the town. How he managed to cover so
many acres with brick and mortar has puzzled
everybody, even his most intimate friends. A
conversation with an old citizen to-day on this
subject in conjunction with previously known
facts, threw n good deal Of light on the real
estate operations Of the head Of the Washing
ton Ring. FIRST II may be promised that the
dwellings erected toy the Boss are mere shells,
poorly built Of the poorest materials when
Micher row on & street built 10y the boss, and
in one corner of which the wicked Don piatt
livesl took Gre it was found that there were no
party walls save Of lI and plaster IN the roof,
aud 1t WAS only by a miracle that the block was
saved from utter destruction. Two newspaper
men who bought adjoining tcnements In Mlch-
Ter row used 20 come down town every morning
cursing each other for disturbing each others
rest the previous night. II one received eau
die lecture on returning home in the " wes sma'
hours the other was An unwilling listener and a
good Snorer could Keep the whole block awake.
But these are said to he substantial builui ugs
compared to somo erected later by Shepherd.
1t will naturally be asked, how did the Boss
nud pury hasers Tor such rickctty edihCesT II
should be recolectcd that most Of them were
DISPOSED Of whic he was Governor OF the Dis-
trict. aud the purchasers were contractors un-
derthc Board OF Public Works, Who found II to
their adNant 1se, perhaps e. pay the price asked,
piOns ot the ltiLe. The latter. IL may be safely
assumed, were expected TO be called upon FOR
the fun amount ul their purchase money. They
uaid a small amount down aud gave their nott =
for the balance. aud these notes they expected
their friend the Boss would take care Of. Ana
lac did take g are uf them hy putting them where
they would do the most good-to himself In
other words. he had them discounted, and the
makers Of these notes had to provide for them
At maturity - best they could. Ia this way the
Boss managed to dispOse of hi1 houses at an ad-
vance Of one hundred per cent. on their cost,
which left him very handsome profit indeed,
after allowing for n heavy discount to the note
shavers. gentleman who figured conspicu-
ouslN ~ the Ring in tt- palnN days is now living
In one ~ BuS, shepherd houses. Tor which be
paid some $l1On, aud which. after the expend-
iture Of several thousand dollars more upon It
to render II tcnantble. e.wOuld not bring 5000 In
the market to day. l. not one source Of the
rapidly acquired riches Of the Boss now made
ClcarY
Another remarkable:feature in his career, de-
velpIed in the conversation to-day above re-
ferred to. i that the Boss has ruined nearly all
Of his adherents. Look at poor Dick Hurring-
ton" blasted in reputation and I'm business pros
poets, and LETT without "a dollar ! Look at George
Gideon, with house on his hands for which he
paid the Bo.s more than one hundred per cent.
abuve its vaiuef And 30 one might 20 through
the whole list u those who iutru-trd their for
tunes and their reputation 60 Bo-s shepherd.
Yet the Boss still h0uri-hes Ike green pAy tree