The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1875-09-11
w. a. uAIsrON.

W. q. HAIsrON.
As a rows grows into city and
u city continues TO increase IN
wealth and prosperity, wo nol'co
that some great iinancior or proml'
ncnt man always ondcnyors to con
troll tho dostinlos Of tho place by
making himself the chief head Of
great financial or political specula-
lions. We have all read lately Of n
notable instance OF this kind. We
refer to Ralston, late President Of
tho Bank of California, man
who possessed the entire confidence
of tho people Of California,
II man more looked up to, praised
and admired than any man in his
State, yet he, with all the vast
wealth at his control, great politi-
cal favoritc, magnifed daily by the
press OF tho city and State, with one
honest exception, fell and now fills
Il suicides grave. lie attempted too
much. Man is simply mortal, and
when he attempts feats beyond his
strength he must fail, and unlortun-
ately, in this country, many inno-
cent people always suffer when
n great man falls. There
never was modern Atlas,
either political or financial whose
strength lasted to the end Of his
business or political career. When
the failure of the Bank Of California
was announced on Wall street,
New York, an immediate panic was
threatened and was inevitable, had
not Mr.. Gould promptly restored
tho confidence of the moncyed men
of the country, by buying largely
of stocks. The feeling Of security
was only temporary, however, and
Mr.. Gould was again compelled
to buy largely and confidence was
again restored. So far, Mr.. Gould
should be considered as u public
beneiactor, for he has undoubtedly
prevented panic which would have
proved ruinous to thousands but
the question aries how long can
Mr.. Gould carry his immense load,
and if he fail now whole cities will
be effected, when before only the
fate of individuals was ut stake.
Dallas is not quite large enough as
yet to produce u Gould, but maybe
she soon will be, and when that time
arrives let her merchants and bust
ness men beware of the one man
power.
The Louisville Commercial says
that he was born on n farm near
Wellsvile, in CoIumbiana county,
Ohio, and in early life served rs q
clerk on boats between Portsmouth
and points on the lower Ohio. He
also ran in the trade to st. Louis.
lie prospercd, and in time built the
old steamer Memphis, in 1917, and
ran her in tho Memphis and New
Orleans trade. In this trade he
made q fortune of 100000. He
was aftorward Captain of boat
that ran from Now Orleans up the
Mississippi and Missouri, and after
ward drifted to California, whore he
first appeared as clerk in n bank.
Later he became cashier of another
bank, and during this time specula-
ted with remarkable success. He
was afterward appointed cashier of
the Bank of California, an institu-
ton greater in its influence, if
possible, than the Bank Of England.
Ralston held this position in 1872,
and shortly after became President
oil the bank. He was no Jim Fisk,
in any sense of the word. He was
the protector of nearly all the prom
inent industrial interests Of the
Pacific coast, prominent among
which were the Kimball Mannfac-
turing Company, an establishment
employing two thousand men, and
engaged in the manufacture of fur
niturc, railway ooaohes, etc; the
Pacific Watch Company; rolling
mills and machine shops, and not
the least among them all, the
Palace Hotel, one of the largest in
the world. In the construction of
this vast building he personally
superintendent and directed the
work, compelling the architect to
conform to his plans. In the man.
agement of this hote! he devoted
two hours daily, amid the multifa-
rious duties that devolvod upon him.
lie was always ready 10 assist in
any enterprise that would advance
the interests of his section, and
never failed to give hearty cncour-
agcment to the business men. Bel
mont, his country residence, situated
about thirty miles from San Fran
cisco, near San Jose, was q magnifi-
cent structure. IL would lodge six
ty-two people elegantly, and every
was made ON the most
superb scale. His stables contained
nearly one hnndrcd of the finest
horses that could be purchased, and
his carriages. of various kinds, were
proportionately numerous. He en-
tertained large number of people
daily, but particularly on Saturdays
and Sundays his Invitations were