Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-07-27

/ generally believed that his wealth was
chiefly represented by mills, stocks Of
| goods, and mercantile paper. He had,
however, quietly accumulated this
readily negotiable quantity of stocks
| and bonds that could be OF use
| to either himself or his heirs in
caee OF emergency. In the panic of
1887 the elder Garner was forced to
make an assignment Of his property to
protect himself ON the process of his
creditors, Who were very clsmorous. In
this straight he made the assignments
to his different children and to the hus-
band OF Que Ofhis daughters. After he
had ELECTED compromise and was
ready to resume business, he, Of course,
called upon the different members OF
the family to return the property. All
responded, except the esoa.iu-Iaw, Mr.. J.
LOrrimer Graham. He clung to the
money in his possession, and the elder
Garner was very indignant. At his
death he LETT all his children except Mrs.
Graham and William Garner one nil
lion dollars apiece. To Mrs. Graham
he left only one hundred thousand dol.
lars. To VIM. Garner, just deceased, he
lett the great bulk Of his money and
property, amounting to nearly twenty
million dollars. Some time after
the latter came into possession of his
Immense fortune hs settled twenty
thousand dollars year upon his sister,
Mrs. Graham, to makeup for what she
had been deprived of by the will OF her
father. Mr.. J. Lorrimer Graham
is well known es having been re-
Gently United States consul at an Eu-
ropesn port. In the panic Of 1873, Mr..
William Garner was seriously embar-
raised for ready money on account of
the aid that he had extended to n. B.
Clafiin & Co., and other wealthy houses.
1t was almost impossible to obtlin
greenbacks for immediate use at any
price. In this emergency he called
upon August Belmont for large loan.
Mr.. Belmont, Of course, asked fer a
statement Of mis- financial condition It
was promptly furnished, and the exhibit
showed nineteen million dollars of as
sets, and less than million of liabili-
tes. At that time, also, proscenium
bcX in the Academy of Music wss for
sale. The price was twenty thousand
dollars in essh. Mr.. Garner, being in
an office in Wall street, mentioned the
fact, and said: "My wife wants that
box, and says she must have it. 1t
seems like an awful waste to buy that
box, snd lay out twenty Thousand dol
lars in greenbacks when they are worth
two or three per Icent. a day down
here, and have to borrow so much"
He bought the box at the stated price,
however. Mrs. Garner always had
forebOding that some great calamity
would result from her husbands
liking for yachting. When he
first became a yachtman she plea0ed
with him to give up his notions Of buy
ing yacht. Her entreaties prevailed
for time; indeed, it wes not until two
yeaI5 after he joined the New York
yacht club that be decided to buy
yacht. His wife could not quiet her
anxiety in spite of his numerous returns
from successful triL3. Wien he wF9
about to Guy the Magic, she again be-
sought him to reconsider his int9ntious,
and to try some other form of diversion.
He kept oD, in spite OF her PRESENT.
ment3 OF evil, EXPIRE, sed with unusual
earnestness. When the Mohawk We3
about to be launched, Mr.. Garner was
selected TO break the bottle Of cham
pagne over the LOWs. Sac said, sg she
went through the ceremony: "I christep
thee Mohawk" and then, turning to
her husband few moments afterwards,
said: "Well, undeTstsn that this YES
sci is liable to capsize. believe that it
is, and that in come way it will bring
death into the family. wish that you
had never had anything at all to do
with it." The great estate of Mr.. Garner
falls into the hands Of Mr.. Johnson.