The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-11-28
The Ant1-Nonopolist.
FOUR DEAD MILLlONAlRES.
Peculiarities Of Men Who Rose From Pow
erty to Vast Wealth.

Peculiarities Of Men Who Rose From Pow
erty to Vast Wealth.
From the San Francisco Alta.
The death, since the beginning of
the year, Of four residents OF San
Francisco, reputed to be millionaireS,
three of them having each an estate
estimated at more than $4,000, 200,
suggest 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 consider
ably above the average in business
reputation. Hopkins, Reese aud Col
ton had industry, tact, and business
capacitessand yet different habits and
tastes. Hopkins was strict, econOm.
ical, fond of business for the sake of
business, with Il strong sense of duty,
a dislike OF Display and of any partici-
patton in political management. He
was fitted to thrive by prudence and
thrift, avoiding everything that
looked to him like speculation, but
not unable to comprehend or unwill.
ing to undertake great enterprises,
such as the Central Pacific was at the
beginning.
Cotton was very different man.
He began life as an Officeholder, was
natural politician, and was fond of
participating in public movement
and influencing men about him. He
had natural liking for speculation,
and made many investments which
would never have found favor with
Hnnliuc hnf Il
full than the average SPECTATOR. He
enjoyed the spending as we'll as the
making of his money. He was proud
Of his magnificent home, and was the
only one OF the four that had one.
Hopkins dying before the completion
of his palace. which he built rather
as sense of duty to California than
to glorify his own taste. Like the
others, Cotton had an excellent repu-
tation for fair dealing.
1t would, we imagine, be no injus-
tice to Michael Reese to call him a
genteel miser. He had a genius for
lending money. An excellent Judge
Of men and hard thinker, he care.
fully studied the investments offered
to him before accepting them. 1t was
his rule to rely exclusively on his
own Judgment. and never to take a
large risk merely because of a posi-
bility Of large gains. Reasonable
certainty of aymoderate profit was, in
his opinion. the first requisite in Il
business transaction. After he had
required the first million he borrowed
largely, and nobody knew better
where to borrow cheap or lend dear.
He provided himself with good
stock Of available securities. from
which he could readily obtain money
! from people who would not lend I'M
less they could obtain their funds at
very short notice. He loaned at much
higher rates. 1t is said by those who
ought to know that lie made 5000 900
annually on borrowed money. He
paid several visits to Europe. and
sometimes INDUCED in little luxuries;
but his expenditures for personal en-.
joyment was generally less than those
Of men with an income of 81 900 Il
year. His only gift of money for a
public purpose in his lifetime, SO far
as we know, was that of So 900 to
purchase Liebar's library for the
state University. He could make
| himself agreeable in company.
| W. $. O'Brien had no uncommon
capacity in any respect, and in the
ordinary course of events he would
never have made more than moder.
ate fortune. He owed much of his
great success to genial manners. AS
Il good fellow he had few superiors
He always had q cheerful word for
everybody. and everybody liked him.
His popularity contributed much to
give i start to the house Of Flood &
. Brien. and he was fortunate enough
TO be associated with men whose
special knowledge and talents raised
the firm TO princely wealth. He did
not bother himself much i'll the ac
QUESTION or in the management OF
his wealth. it added little TO his en-.
| jUyment, and made little change in
his tastes. or associations. lie was Il
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 III return he helped to build 2 0Ol
miles Of railroad. Cotton helped Ia
build 40 miles OF railroad. O'Srien's
wealth contributed TO erect one of the
finest buildings and to found one OF
! the wealihiest banks in the United
+ States. Reese erected many good
! buildings. Hopkins. o Brien and
Reese were chIl4less. Cotton leaves
two daughters.