The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-11-16
-FOUR DEAD MILLIoNAIRES.
Peeuiiaritiss sr Men who Rs.e from Pow
erty 20 Vast Wealth.

Iroa, he SIN Ffaneisro AHA.
The death. since the beginning OF the year
OF four residents OF San Francisco reputed to
he miliionaires. three OF them leaving each an
estate estimated AT more than fS.OOO,OOO. sug
Rest some remarks on their career. All OF them
began life in poverty; not one OF them made
his money by mere luck and all were men con-
sderably above the average in business repu-
tation. Hopkins. Reese. and Cotton had indus
ent habits and tastes Hopkins was strict
economical. fond OF business for the sake OF
az display and Of any participation In political
management. He was fitted 10 thrive by pru-
looked TO him like speculation. but not unable
Ia comprehend or unwilling to undertake great
enterprises such rs the Central Pacific was at
Cotton was a very different man. He began
life rs IN offlcehoder, WAS natural politician.
and was fond OF participating In public. move;
ments and Influencing men about him. He had
natural liking for speculation. and made
many investments which would never have
found favor with Hopkins. but he was much
more careful than the average Spectator. He
senloyed the spending as well as the making OF
had one. Hopkins dying before the completion
Of his palace. which he built rather ms a sense
OF duty. 70 California than TO crafty his own
reputation for fair dealing.
1t would, we Imagine. be no injustice 10 Mi
chae Reese to call him agenteel miser, He had y
genius for lending money. An excellent Judge
OF men and hard thinker. he carefully
etuuleu tne. Investments oHereu 10 MIN Dolore
accepting them. II was his rule TO rely OK
chlsively on his own judgment. and never to
take large risk merely because OF possibility
OF large gains. Reasonable certainty of mod
crate profit was. in his opinion, the first requl-
site In a business transaction, After he had ac-
CURED his first million he borrowed largely.
and nobody knew better where 10 borrow cheap
or 70 lend dear. He provided himself with a
good stock OF available securities. from which
he could readily obtain money from people
who would not lend unless they cou u oAain
their funds at very short notice. He loaned at
much higher rates; II is said by those who
ought 10 know that he made f200.000 annually
on borrowed money. He paid several visits to
Europe. and sometimes INDUCED in little luxu-
ment were generally less than those Oi men
with nm income OF 81 600 n year. His only git
ot money for public purpose in his lifetime.
SO far rs we know was that OF 50 900 to pur-
chase Lieber's library for the State University.
He could make himself agreeable in company.
w. y. OBrlen had no uncommon capacity in
any respect. and in tho ordinary course OF
events he would never have made more than a
moderate fortune. He owed much OF his great
success to genial manners. As a good fellow
he had few superiors. He always had a cheer
him. His popularity contributed much TO give
start TO the house OF Flood O'Brien. and he
was fortunate enough 10 be associated with
men whose special knowledge and tnents raised
himself much In the acquisition or in the man
agement OF his wealth II added little TO his en-
loymenti and made little change IN his tastes or
associations. He was To the last the same plain.
simple hearted man among his old friends as
in the earlier days.
Hopkins Obtained much OF his wealth from
Government subsidies but In return he helped
70 build 1000 miles of railroad. Cotton helped TO
build 700 miles of railroad O'Briens wealth
contributed 20 erect one OF the finest buildings
United States. Reese erected many good build.
nRs. Hopkins. D Bren and Reese were child
less; Cotton leaves two daughters.