The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1877-11-22
Suicide Of Prominent Banker in
Chicago.

The city was startled on the morning
of the 18th by the astounding intelligence
that Hon. William F. Coolbaugh, presi-
dent Of the Union National bank, had
been found dead at the foot of the Doug
las monument. The rumor proved to be
too true. About 4 80 o'clock in the morn
ing breakman on one of the Michigan
Central eight trains, saw, as his train
was passing the Douglas monument, north
of the foot of Thirty-tifth street, man
lying on the steps and apparently dead,
and upon examination it proved to be that
of the well-known banker. Mr.. Cool
baugh left his home yesterday morning;
his wife called for him in the evening
but Mr.. Coolbaugh not being ready to
leave, she started home without him.
This is the last time she saw him alive. He
left the bank, stating to the watch his in
tention Of returning in few minutes.
He did so, remained but minute and
then again lett, but il appears did not re-
turn home. Mr.. Coolbaugh's domestic
relations were far from pleasant. It is
claimed too free use of Intoxicating bev-
erages, not on his part alone, had thrown
a pail over his latter life. One of the
sources of trouble which preycd upon Mr..
Coolbaugh's mind was the disgraceful
conduct of his brother. Nyse Coolbaugh
is the husband of Jennie Williems, the
notorious keeper OF we'll known bagnio
in this city. Geo. Nyse Coolbaugh was
superintendent Of military railroads dur
ing the war, and was stationed in St.
Louis in 1864. There he met Jennie
Williams, then respectable girl and
married her.
Hon. William F. Coolbaugh was born
in Pike county, Pennsylvania, July list,
1921. The advantages he enjoyed for an
early education were limited in the cx-
trcme. AT the age of fourteen, with his
limited education and without friends or
money, young Coolbaugh left his home
to seek his fortune IN Philadelphia. He
engaged as an assistant porter in a mer-
camille house. He rapidly gal aed the
esteem and confidence OF his employers,
and at the age of eighteen was made the
confidential clerk Of the firm. Soon after
the firm engaged in an extensive business
and sent him to the West and Southwest
to manage their interest. He continued
in their service until he became of age,
when he entered into business on his own
account. Determined to work for HIM
self alone, he located in 1842 at Burling-
ton, Ia., and engaged in the dry goods
business and assumed a prominent posi-
ton as politician.
The career of Mr.. Coolbaugh as bank
er in this city is we'll known. He cngag-
ed in business before the disastrous wear
of 1871, and was heavy loser at that
time. 1t was we'll known in banking cir;
cles at that time that he favored COM
promise by the payment of so cents on
the dollar and was reluctant to resume
business unless some such adjustment
could be made. He was overruled at the
time, and after an inspection of the bank
by the comptroller Of thelcurrency resumed
business. In June Of 1875 he was one of
the first to succumb to the pressure.
Subsequently his bank was opened for
business for day or two, but a second
thought was taken and it was closed, but
ultimately resumed business. Mr.. Cool
baugh was absent in Europe during the
late saving banks troubles.
His opinions on the financial affairs of
the city and country were we'll known.
He was esteemed, and regarded as a safe
adviser and conservative thinker and op
orator in money matters, and while in
Europe Mr.. Coolbaugh accompanied Mr..
s. J. Tilden and ex-Gov. Hendricks
through England and Scotland, and was
in attendance on Gen. Grant at the re-
ception at Edinburg. The supposition is
that he combined pleasure with some
attention to business matters pertaining
to his bank. The news of the suicide was
brought to the bank at an early hour this
morning and caused surprise and sorrow
among the many employees and officers of
the bank, with whom MI. Coolbaugh was
very popular. There was found to be
difference of opinion as to The cause of
the suicide and the past condition of the
mind of the deceased.
"If my wife chooses to throw sauce
pans and stove-lids at my head, and tear
my shirt and chuck me out of the
house," he soliloquized, as he got up