Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-08-14
MICHAEL REESE.
A Sketch Of the Life Of a California
Israelite Who is Reported 10
Have Left $1O,OOO,OOO
10 Charity.

A dispatch from Wallenstein,
Germany, announces the death in
that place of Michael Reese, the
San Francisco millionaire, who is
reported to have left an estate
worth $l0,000,0O0. Mr.. Reese was
reported to be the richest jew in
the United States, and, with the
exception of Senator Sharon, the
largest real estate owner in Cali
fornia. He was also known as a
great miser and a most eccentric
man in many respects. Born IN
Germany about 1910, he emigrated
to America at the age Of twenty
five with capital of some $50, 900,
intending to 90 into business. AT
ter speculating in merchandise in
the Southern States for a few years,
he settled in Richmond, Va, and
became "a noted slave-owner. He
made considerable money in this
business, but, sustaining heavy
losses by some unfortunate specula-
tions, he left Virginia, and with the
remnant of his fortune went in 1850
to California. There he speculated
in merchandise and stocks with re-
markable success. Seeing with al
most prophetic sight, the future
destiny Of California, he invested
all his money in land, and frequent.
ly bartered merchandise for real es-
tate, which was then of little value.
Land soon began to rise in price,
but he would not sell except at
prices considered fabulous, and
when he got his price he would i'm
lnediately invest in more land. All
this time, too, he was carrying on a
sort of stock and note broking bust
ness; indeed his friends said that
his business was money making
pure and simple that he would go
into any legitimate business to
make money, and that money he
was bound to make in any business
he undertook. Certain it is that a
few years after settling in San
Francisco Michael Reese had the
reputation of being a millionaire,
and, almost up to the time of his
death, his fortune was steadily on
the increase.
Mr.. Reese was one of the first
men to 90 into the bonanza stock
speculations, and he was one of the
most successful of the spectators
His Judgment in all matters per.
f tanning to stock and real estate in.
yestments was considered infallible,
: but no one but himself ever profit
ed by it, for the reason that he
! never would give "point." "lf
have points," he would say, 81 vii
use them myself. Points are my
r fortune. Why give my fortune
> away?"
r Michael Reese's misery habit
, were for many years the talk o
| San Francisco. He would 60 t
| the most absurd lengths to avoit
having to pay for a meal. DininI
Q with a friend, he would, il hi
A friend left any bread by his plate
e ask his permission to take it, so tha
K he might be spared the expense O
s ordering more, for he was an i'm
5 mense eater, aud he usually patron
/ lied one dollar table d'hote restaul
9 ants, where he ate three or fou
!. dollars worth at a meal. On on
occasion, it is related, the restauran
keeper begged him not to patron
h ize him any more, "for," said h
4 eff you go on eating like this eithe
e you will bust or l SHALL" Nj
II Reese's lawyer and most intimat
acquaintance was Mr.. FELTON,, re
n Gently dead. One dag Mr.. ReeS
g astonished him beyond measure b
e inviting him to dinner at a well
known restaurant and asked hiI