Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1878-11-26
FOUR DEAD M1LLIoEAIREs.
PeCuIiaritles Of Men who Rose from
Poverty to Vast Wealth.
San Francisco Alta.l

DdH IIhHcieco Alld.l
The death, since the beginning Of
the year, of four residents of San
Francisco, reputed TO be millionaires,
three of them leaving each an estate
estimated at more than $1,000, 600 sug-
gest some remarks on their career.
Each of them made his money by mere
luck, and all were men considerably
above the average in business reputa-
tioh. Hopkins, Reese and Cotton had
industry, tact and business capacity,
and yet different habits and tastes.
Hopkins was strict, economical, fond
of business, with a strong sense Of
duty, dislike Of display and Of any
participation 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 a very different man. He began
life as as an ofice-holder, was a natu-
raj politician, and was fond of partici-
pating in public movements and inhu-
encing men about him. He had a
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 speculator He enjoyed
the spending as well as the making Of
his money. He was proud Of his mag
ni6cent home, and was the only one ol
the four who had one, Hopkins dying
before the completion of his palace
which he built rather as a sense 0.
duty to California than to crafty hi
own taste. Like the others, ColtoI
had an excellent reputation for fai
dealing. 1t would, we imagine, be NJ
injustice to
MICHAEL REESE
to call him a genteel miser. He had
genius for lending money. An excel
, lent Judge of men and hard thinker
he carefully studied the Investment
2 offered to him before accepting them
I 1t was hisrule to relic exclusively upol
his own Judgment, and never to tax
a large risk merely because Of posi-
bility of large gains. Reasonable Ger
tainty of moderate profit was, in hi
Iopinion, the first requisite in busi
ness transaction. After he had ac
= quired his first million he borrowe
= largely, and nobody knew better wher
e to borrow cheap or lend dear. II
!. provided himself with a good stock
9 available securities, from which /
o could readily obtain money from PEI
pie who would not lend unless the
could obtain their funds at a very sho
notice. He loaned at much high,
rates. 1t is said by those who ougl
! to know that he made $20, 900 annual
! on borrowed money. He paid sewers
4 visits to Europe, and sometimes il
3 dulged in little luxuries but his el
L penditures for personal enjOymer
were generally less than those with a
income of $4,000 year. His only gi
of money for a public purpose in h
! lifetime, so far as we know, was that
!, $1,000 to purchase Lieber's library f
the State University. He could NAL
81 himself agreeable in company,
W. s. o'BRIEN
had no common capacity in any r,
spect, and in the ordinary course
events he would never have mac
le more than moderate fortune. II
$, owed much of his great success to g
/. NAL manners. AS good fellow he ha
le few superiors. He ealways had chee
full word for everybody, and eyerybod
t. liked him. His popularity contribl
ID ted much to give start to the hOus
ID Of Flood & 0'Brien, and he was 70
1t tunate enough TO be associated wit
1T men whose special knowledge Fan
ID talents raised the firm to prince
Of wealth. He did not bother himse
much on the acquisition or in IL
management of his wealth. 1t adde
o little to his enjoyment, and made lit
N change in his tastes or association
If He was to the last the same plai
70 simple hearted man among his o.
IS friends as in the earlier days
l. HOPKINS
1t obtained much Of his wealth fro
10 government subsidies; but in retul
il helped build 200O miles of railroa
al Cotton helped to build 200 miles
railroad. 0'Brien's wealth contrib
- ted to erect one Of the finest building
: and to found one Of the wealthie
u banks in the United States. Reel
y ! erected many good buildings. HoI
- kins, 0'Brien and Reese were chill,
y less; Cotton leaves two daughters.
is ;s THREE MISSIONARIES EATEl