The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-03-14

and drive at IL persistentlyi the propa.
bilities are that he would have acquired
and retained enormous wealth. His
perceptiye faculties are good; but he has
lacked system and order, and has labor.
ed under the disadvantages of want OF
education. He has gone along without
records, and Ia said to have kept the run
of all his extensive transactions in his
head He had the advantage OF entire
soberness; he never drank drop, does
not smoke or gamble, and is addicted TO
no vices; but he seems TO be possessed OF
little conscience, and apparently, has no
sense of moral obligation. lie lisa rough
stick of timber, with many valuable
qualities through which he has managed
to overcome many of the disadvantages
of his early life
Mr.. Herdics wife died not long after
his appearance in Williamsport: Like
all prosperous men, be appeared TO be-
come ambitious of social standing. While
at Copan's, he wasuncouth and ungainly,
and could hardly write his name. AS he
became wealthy and influential, be
seemed to recognize these disadvantages
and made strong effort to amend them
He put himself under the instructions
of professor of dancing, and acquired a
few of the graces Of life. The professor
polished him up, and he was soon able
to be presented in any society. Hethenl
built the finest residence in the city, and
allied himself with an old and influential
family. He married the daughter OF
Judge Maynard of the Common Pleas,
one of the most elegant, brilliant, and
accomplished of her sex. She added
grace and beauty to his mansion, and
charmed his home life. She filled his
house with rare books and articles OF
yertu, and from the abundant means OF
her husband dispensed an elegant hos
pitality. Since then she has reigned the
undisputed queen of Williamsport 3D.
Ciety.
Peter Herdic's first great strike was
the control of the great boom in the
West Branch of the Susquehanna. The
profits after Gov. Curtin signed the bill
for the increase of boomage were 80
great that the income of the monopoly
la eight years was $2,272 1888; a net profit
of2.iO4 per cent, on the invested capital.
Herdic was born politician, 1t is said
that the bill increasing the tollssum ber'
ed in the Governors Office for long
time, and that Curtin signed it, hoping
to secure Herdic's influence in his effort
to clutch a United States Senatorshlp,-
At the last moment, however, Peter
whooped over to Cameron, and the
great war Governor was lett out IN the
cold. 1t is also charged that Curtin
forced the company to execute a contract,
bv the terms of which they were to re-
duce the toll after they had been REIN.
bursed for the building Of the dam and
other improvements. This contract, tits
said, was deposited in the State Depart
ment, but it soon afterward disappeared,
and was never made public. Herdic's
partners in the boom monopoly were
Mahlon Fisher and John B. Reading. 1t
is alleged that the profits were silently
divided without declaring dividend,
because a certain percentage of the diyi'
dends was to be paid into the State
Treasury,
During all this time Mr.. HerdiC has in.
variably been hard up. He has sloshed
around, apparently never able to pay a
note when due, giving checks payable a
few days after date, so as to get time to
make deposits to meet them, and dodg-
ing in and out of the smallest financial
holes. He used no money to pay debts
if he could find any other business use
for it, Alta time when it was thought
impossible for him to stand the financial
pressure he built an Episcopal church at
a cost of $50 900 and presented it to the
congregation. Lately, when men owning
much real estate have found that about
all they can do is to pay the taxes on it,
he has been engaged in the erection of
block of five-story brick buildings. They
are mile from the business portion of
the city. A score of stores are vacant in
the business center, and there never was
a demand for rooms above the second
story, To build this block Herdic was
using money borrowed as the work pro-
crossed from a wealthy capitalist in
Philadelphia. The block is to include
an opera house, which will probably
prove as profitable to him in this world
as his church, and less in the world to
come. His object in building the block |
seems plain. If, through political infu-
ence, he could rent it as postotfiCe, pub |
lie market, and United States court
room for the Western Pennsylvania dis
trict, his real estate would be wonderful
ly improved and his fortune increased
The owner of a bank, church, opera
house, he is also the proprietor of daily |
newspaper, the The North Branch Gazette
and Bulletin. 1t has been ably edited,
and has supported his schemes with a
fervor that proves that his newspaper
employees regularly receive their wages.
At the time of his failure he was en-.
gagged in an effort to construct railroad
twenty-six miles long, claiming it to be
link in new line of railway from Pitts
burgh to Binghampton. A connection
was to be made with the Albany and |
Susquehanna, which would join Pitts
burgh to Boston through the Hoosac
tunnel. 1t is said that this would be 1856 |
miles shorter than any existing route
The road was to connect with what is
known as the Low Grade road this side
of Pittsburgh. A cut from Red Bank to
Homewood, on the Pittsburgh, Fort
Wayne and Chicago railroad, would |
leave Pittsburgh thirty miles to the
south, and shorten the distance between
Boston and Chicago sixty miles. Her
dies main interest in this scheme was to
be found in the fact that the projected |
line would tap 25, 900 acres Of bituminous
coal land owned by him. Of course it
would be rendered immensely valuable
by such connection. As this scheme is
backed by the Pennsylvania railroad,
who own the low grade road and control
the Pittsburgh, Ft. Wayne and Chicago,
and by the Delaware and Hudson Canal
Company, who control the road from
Binghampton to Boston, the scheme will |
probably succeed, whether Herdic ever
realizes the benefit Of it or not,
No man can tell how much Peter Her.
die has ever been worth His vast bust
ness was a net work of liens, mortgages,
and endoTsements. The failure of his |