The news and herald. (Winnsboro, S.C.) 1877-1900, 1877-07-17

| Ihe Story OF the California Bank
| Presidents l,ife--How Warwick Mar
til Collected. an Old Debt and betty
Martin got q Silk Dress. "
a. San francisco correspondent { t
tho New York iS,tn writes To-day
wo have spent at Belmont, the mag
nifioent country scat of the late VIM.
G. Ralston. We have been tho
guests of Senator Sharon, into
whose hands Belmont fell after
Ralston's suicide Belmont is stu
ated about twenty five miles from
San Francisco. It contains about
21O acres Of irrigated land, in the
middle Of which is a palace, which
cost 81, 100000. There arc twenty
five splendid horses, greenhouses
lille9 with thousands of rare cxotics,
and orange, BAHAMA and lcmqn trees
growing in the open air. 1t was
hero that Ralston used to hold those
magnificent .Jctc&, even down to the
evo ofhis bankruptcy, when he found
himself in debt to the fabulous sum
OF $lG,0O0,000, and, broke oken-hcarted,
left tho presidents scat in the Bank
Of California, and went cut to the
bay and drowned himself Senator
Sharon, who is considered to be
worth anywhorc from ten to twenty
millions, how keeps up Belmont
and entertains his friends there
every Sunday. Tt is here that he
entertained Lord Dunierin, General
Sherman, and, in fact, where he has
entertained almost every person of
note who has visited the Pacific coast.
But Ralston used to entertain hig
friends here by tho hundreds. 1t
was no uncommon thing for him to
havo fifty people at breakfast. No
larry tale can surpass the real story
o. Ralston's princely entertainments.
He would often charter Il train of
care out Of San Francisco, fill thom
with his friends, and, with"bands of
music, vine and sumptuous ban-
quet, make q night Of it at'Belmont.
'Do you think Rnlston' S mind was
sound when he was doing these
startling things 2" I asked Senator
Sharon, as L wandered and wondered
through mirrored rooms and among
marbles and bronzes, and over Au~
Nnsson and Administer carpets. "Do
YOU not think it was incipient in
sanity 2"
Eyes" replied the Senator. IT
think Ralston s mind was wrong for
a year before his suicide. His un-
Sellishness was mania. Flo lived
entirely for his friends. He wonld
wear the coarsest clothes, eat the
commonest food himself, but when
it came to friend, or oven q casual
acquaintance, he delighted to startle
him with the most lavish entertain~
! mcnt. 49, ...
"You were his partner ?" I sug~
gested.
eyes, we built the Palace Hotel
| o'SoSpiiCl ottU DClOIo III WuB nail
done, saw that 'Ralston was on the
verge of ruin. L don't think now.
when L look back, that poor Ralston
ever had hundred thousand dol
lars free from all debts in his lifo."
"And he died owing 2"
'He died owing sixteen millions.
He was president of the Bank of
California;, but tho banks capital
was only shell for years. It vas
all used to carry on his magnificent
schemes. Why, when he died he
was carrying Belmont at IN expense
Of q hundred thousand dollars
year ; carrying four millions in the
Palace Hotel, Il hotel which cost six
millions in gold; carrying million
or so in the Grand Hotel and ada
centproperty on Montgomery street;
building q millioh>dollar : private
residence on Pine street, and, be-
sides, was carrying several manu-
featuring companies, and keeping
up the credit Of the Bank of Calls
fornia to a ted million-dollar stand.
ard when it Vas an insolvent shell,
hopelessly bankrupt" .'r
Sand you know how the bank
stood ?"
Eyes, T knew it at last but
Ralston was too proud to tell mo.