The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1877-06-09
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9"NNseNS Panpcr. who were
Of Thousands OF

N'~S>s AMY Panpcrs who were
-=hdreds Of Thousands OF
! death Of one OF the old.
For lint princes Of Boston, who
lnsOlyent estate, and the still
n cnt failure OF m old-esta6lishcd
- house TINT hai weathered the
great financial storms OF 1887,
and 1873, recalls some remarkable
stances of financial ruin, caused by
speculation in untried fields.
In 1858 there was n large firm engaged
III the boot aul shoe business, probably
ut TINT time tho largest in Boston, which
concluded to dissolve. The aggregate Of
the available cash means Of the firm was
81, ),000, anil there wern tllrcc in The
firm, each OF whom look his $500, 900.
Tho senior partner invested his money
in paying securities, and died Il few years
inter, having doubled his capital; the
junior partner did the same, md when
lie died he Ind nearly trebled the
amount. The other partner accepted
tho honorary position Of president Of
bank, and became interested in Wild
cat Spcculations in mining and new
inventions, and torlly he is almost Il
paper.
AUOut forty years ngo young man
began US porter in large concern on
South Market street; he rose gradually
from one position to another till he had
acquired knowledge md money enough
to sLrt for himself, mud llo chose the
then new field Of St. Louis. by indus.
try, application aud Rhrcwdness he be.
came ono OF the lealiug merchants Of
that city. AbOut twenty years ago lie
decided to retire from active business
and return to his native State. He had
clear cash fortune OF SS00,000. Pur-
chasing beautiful estate within twenty
miles OF Boston, and adding thereto by
elegant mud costly buildings and out
buildings and conservatorieS, he settled
down to enjoy himself. But he WIS not
satisfied. He invested his MI in
patent, anil that mNn today is laboring
hard to gain daily bread for himself anil
family.
III 1858 one OF the leailing commission
dry goods merchants in Boston over
reached his competitors i'll trlde, ind
made himself whole in that terrible iinan-
cial crisis, when most OF Our leading
houses went to the wall. As collateral
security for notes given for about $780,
900, he took shares in nn unc0mpletcd
r.ilroad connected with n coal mine.
Discovering that this stock held rs col
lateral represented moro than majority
Of the whole stock, he employed brokers
in Wall street to bear the STOCK and buy
it for IL song. He succeeded, md he nj
tcrTArl admitted thai lie cleared $780,
600 by the operation. The war came on,
and lie succeeded in obtaining from the
government several large contracts. At
the close Of the war he could chiuk ont
Mt least two millions OF dollars in solid
cash. But he was not satisfied. Rail
roal schemes were all the ragc, md lie
went in, seeing in tho future his two
millions swelling to ten millions. He
has lost his own money and led his
neighbors to ruin, Nnd is to-tlay an oh.
iect Of pity.
Thirty years ago young and promis-
ing lawyer wNs retained by railroad
corporation i'll New England, then labor
ing under great difficulties. He soon got
ut the true inwartlness Of the situation,
and, avaling himself of the knowledge,
invested right and left u its securities ut /.
low figures. Those securities aitcrwartl
became apprcciative values, and lie
found himself almost a millionaire. He
purchased n splendid estate, became n
liberal patron OF the Nrts, n leading agri-
cultllrist, and was esteemed for his be-
nevolence. Hisincome was almost prince
~, but others were worth more, and he
WAS still Young. His ambition wAs 10
mount to the top, and in one brief year,
from being the possessor of 5000, 900, lie
died Il recipient Of charity.
In 1873 ayoung mHn from a neighbUr-
ing town, who Ind been n fortunate
business mun till the crisis of 1887,
started ufrCsh. 4 few years found him
ut the top Of the ladder, his credit good
and his transactions immense; he had
acquired IL second und handsome for
tune. In day, rs it were, lie lost I'll,
aud he had not money enough to buy his
MONDAY meals. Not discouraged, he
begHu ngIin at the bottom, aud laid tile
foundation for n third fortune, which
was destined to be tlIreefold greater than
the other two. But he was a man never
to be satisfied. Three years ago he could
have cold out his immense real estate
and renliZGtl three md 0ne-half millions
Of tlollAr6 casll. Three months ago he
was forced to borrow money from his
friends Cor tho actual necessities of him.
self aud fawily.-Boston 7rurcitcr. /