Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1878-08-16
A Former Augusta County Pedler Dying
Worth $40, OOO, 900.

sO~
le came to this country with $50 800 is an
He came with nothing, as lie ofSen
and used u foot it i'll this county
with his pack Oh his back. He made
a sort OF headquarters. While
On his rounds he would lind out what
were for sale and would buy them
for his brother, Sam Reese, who was a
negro-trader in Richmond, and ship them
to that city. From Augusta he went to
and while there was delighted
to see people from this county, where. he
said, he had always been well treated:
A dispatch from W%allenstein, Germany,
the death at that place Of Mich
ael Reese. the s III Francisco millionaire,
who is reported to have left an estate worth
$1O, 900 900. MI. Reese was reputed to be
the richest Jew in the United States, and
with the exception OF Senator Sharon, the
largest real estate owner in California
He was also known as a great mlSer, and
Il most eccentric man in many respects
Born in Germany about 1910, he emigrated
to America at the age Of twenty five, with
a capital Of some $50, 200, intending to go
into business. After specializing in mer-
chandise in the Southern States for a few
years, be settled iD Richmond Va, and
Lecame a noted slave owner. He made
considerable money in this business, but
sustaining heavy losses by some unfortu-
nate speculations he left Virginia, and with
the remnant of his fortune, went in 1850 to
California. There he specialized in mer-
chandise and stocks with remarkable sue
cess Seeing with almost prophetic sight
the future destiny of California, he invest
ed all his money in land and frequently
bartered merchandise for real estate. which
was then of very little value. Land soon
began to Use III price, but he would not
sell except. 1T prices considered fabulous
and when he got his price he would imme-
diately invest in more land. All this time
too, he was carrying on a sort OF stock-and
nOte-brOking business; indeed, his friends
said that his business was money-making,
pure and simple; that he would 20 into
any legitimate business to make money,
and that money he was bound to make III
ally business he undertook. Certain it is
that a few years after settling in San Fran
cisco, Michael Reese had the reputation OF
being a millionaire, aud, up to the tim of
his death, his fortune Was steadily on the
increase.
Mr.. Reese WAS one Of the first men to go
into the bonanza stock speculation, and he
was one of the most successful OF the spec
ulators. His judgment in all matters per-
tanning to stock and real estate invest
ments was considered infallible, but no
one but himself ever profited by it, for The
reason that lie never would give a point"
.If l have points" he would say, Il will
use them myself. Points are my fort une.
Why give my fortune away"
Michael ReeSe'S misery habits were for
MANY wears the talk of San Francisco. He
would 20 to the most absurd lengths to
avoid having TO pay for a meal. Dining
with a friend, he would, If his friend left
any bread by his plate, ask his permission
to take it, so that he might he spared the
expense of ordering more, fOT he was an
immense eater, and lie usually p%atrOnized
~Qqe-dollar table G'hote restaurants. where
he ate three or four dollars worth at "a
meal. On one occasion, it is related, the
restaurant-keeper begged him not to pat
ronize him any mOre, ''fOr," said he. "if
you go on eating like this. you will burst
or l SHALL" Mr.. Reese's lawyer and most
Gently dead, One day Mr.. Reese astOnish-
ed him beyond measure b., inviting him to
dinner at a well-knoWn restaurant. and
asked him to bring five or six friends with
him. MI. FELTON, could not believe his own
ears, but Mr.. Reese repeated the invitation
and it WA accepted. The same day, MI.
FELTON,. six friends and Mr.. Reese went to
the restaurant and dined s~umptuOusly,
eating the most expensive dishes, n
drinking the choicest wines. Mr.. Reese
was not seen to pay the bill, however. and
it afterwards turnt d out that he had OBJ
tanned a judgment against the restaurant
keeper, which the man Was unable to pay.
having nothing in the world but his stock.
So Mr.. Reese was constrained, as he eX-
pressed it, to "take it out iii eating" This
was the only time that. he was ever known
to treat anybody to anything.
AT the time of the great excitement in
San Francisco over the Limantour suit,
Mr.. Reese made himself somewhat conspi-
| euously unpopular. 1t will be remembered
that LlmsntQpr claimed the greater part
Of the city of Syn FRANCISCO under an al
legged Mexican. grant, and began snlt to get
possession of the property. When the case
came up it Wal charged that Limantour
had forged certain documents. by virtue of
which he made his claim. Criminal pro-
ceedings were instituted against him. and
he was arrested andjput under $1,000 900
bonds. No one would go bailfor him, and
LIr, Reese came forward, signed his bond,
and he was released. There was believed
to be some mysterious reason for this ac-
ton, but nobody ever discovered what it
was, and Lipantonr afterwards withdrew
his claim.
ADaE Ky n syg;nsy s1 ysdfs M r. R.tsa I fo4 ) o.
H H1t dIna H Rost fdr bs sh # nfomisa Of mar
u uiaoe 4t n was M nnivrrsa,lv bel;eTed thatf Ike
s sds ,..s oniv a trick to sxtort, money but,
s sho ;M m~9 nav navertSaless' seeing that Il was
the wealthy Reese who was defendant,
gaYe nel q p sesui0v so &c @ mvob ,f,a;d Of o woV
Iluie MI; heeS 90 M Ms W. Muon h;n,sa1f ~ WV" "
manklna as o,o NIL "eiiei iiin'eii was u
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nofse Ahts4 Ha if Ea' Z F e ~ ) sfr +.
in iae the Me hone " Of m nsa '; an "a scapai sfc
Dy a !rienG III iegalu " us M:sei!y naol's,
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