The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1878-11-30
The Story of Four Dead California Mil.
1ionafraa


This year, four citizens of San Fran
cisco reputed 10 be millionaires have
died-three of them leaving an estate es-
timated at more than eight millions.
All OF them (says the Alta began life in
poverty; not one of them made his mogey
by mere luck; and all were men con-
-slderably above the average in business
reputation and moral character. Hop
kins, Reese, and Cotton had rare indus.
try tact, and business capacity, and yet
were different in habits and tastes. Hop
kins was strict, economical, fond Of bust
ness for the sake OF business, with a
strong sense of duty, dislike of display
and, of any participation inr political
management. He was quiet, lust man,
avoidIngt everything that looked like
speculation, but not unable to compre-
bend or unwilling to undertake great
enterprises, such as the Central Pacific
was at the beginning. +5
Cotton was a very different man. He
began life as an officeholder, was mat
ural politician, and was fond of partici-
pating in public movements and inhu-
enclng men about him. He had nat
ural 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
wellas the making of his money.
1T would be no injustice TO Michael
Reese to call him genteel miser. He
had a genius for lending money. An
excellent judge of men and a sound
thinker, he carefully studied the invest
ments offered to him before accepting
them. twas his rule to rely exclusively
on his own judgment, and never to take
a large risk merely because of possible
ity of large gains. Reasonable certainty
OF moderate profit was, in his opinion,
the first requisite ina business transac-
ton. After he had acquired his first
million, he borrowed largely, and nobody
knew better where to borrow cheap or to
lend dear. 1t is said by those who ought
to know, that he made 5000, 600 annually
on borrowed money. He paid several
visits to Europe, and sometimes INDUCED
in little luxuries; but his expenditures
for personal enjoyment were generally
less than those of men with an income
of, 81, 000ayear His only gift of money
for public purpose in his lifetime, SO
far is we know, was that of $1,000 to
purchase Eebers Library for the State
University. .-.,.- ....
w. S. OBrien owed much of his great
success to genial manners. AS good
fellow he had few superiors. He always
bad cheerful word for everybody, and
every body liked him. His popularity
contributed much to give start to the
house of Flood & O'Brien.
Each of these four men deserved his
good fortune, acquired it fairly, and
used it in manner that did no harm to
the community. Hopkins obtained much
of his wealth from Government subsidies;
but in return he helped to build two
thousand miles of Railroad, and he made
a good return for all he got. Cotton
helped to build seven hundred miles of
railroad. O'Brien's wealth contributed
to erect one of the finest buildings and to
found one of the wealthiest banks in the
United States. Reese erected many good
buildings. Hopkins, O'Brien, and Reese
were childless; Cotton leaves two daugh-
ters. The millions accumulated by one
generation will be distributed by the
next.