Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1882-06-03
NORTHERN TRIBUNE.
SATURDAY, JUNE 3, 1882.
Rich Americans.

Rich Americans.
To correspondent who asked him to
name three or four of the richest men
in America, Rufus Hatch replied
SWELL there are just four of them in
the first class. First, Vanderbilt and
his sons; second. Russell Sage; third Jay
Gould, and fourth, James Keene. sup
pose you refer to men who have been
directly connected with stock operations.
Vanderbilt and his sons, who are all to-
gether, have got $300,O00,OOO. am sure
that this is not Overstated. for the 60
or 20 million dollars they have in gov
eminent loans represents their interest
as it has accumulated. The next man
is Russell Sage, who is richer than Gould
He is worth from $60,000OOO to $4,000
600. Gould is worth from 40 to so million
and Keene from % to 30. Those are pro-
digious figures. See what they repre-
sent OF other mems losses. when you
look at the present state of the stock
market and what it is tumblIng to.
There is about $50 to 500 million dollars
In the hands of four men, who have
made it all around this Stock Exchange
out of the gambling prOpensities and
the credulity of the people,
You surprise me in rating Russell
Sage so HIGH" said the correspondent.
well, 1T Is a fact. He has been cool
steady, strong man, playing no tricks,
but scOoping it in all the time. | may
say for him that If you get his name to
piece OF paper it is just as good as any
obligation in the world. Gould has been
the most deXterOus of of this lot. Keene
represents his name. In character he
Is certainly wonderful keen man. The
history of his Oper atiOns in Lake Shore
and Northwestern would be great sub
ject for one of your letters. He took
Lake Shore at 80 and got rid of the most
of it at profit of 100 per cent, and in
the same way he took Northwestern
when it was about 40 and sold most of it
at about 800 per cent profit, for it went
up last year to 1876, and stands now at
about 100. Vanderbilt now owns the
railroad"
us the public generally aware that
Vanderbilt owns the Chicago and North
western RailrOad?"
"They may not BE-" said Mr.. Hatch,
"but he does possess them. l went to
him with statement of the condition
good purchase, and he has found it so;
but think he kept all the commissions
in the family, for l never got any of
them"
"Has Vanderbilt's purchase of the
Michigan central been lucky One?"
"Yes, think it has. He is one of the
men who has made money right along;
and the effect of the boom, which is now
played out, has merely been to transfer
the wealth of a great many people to a
few who are all the time get richer"
"Are you aware of any other fortunes
to be compared to those you have
named?"
"Do you mean in other associations
than stock scheming? Yes, there is
Commodore Garrison, who deals i'm rail-
road property, but not much around the
Stock Exchange. He has no particular
broker, and no Office right about the Ex-
change. Heis worth $25,OOO,OrO to $685.
00O,OO0. Moses Taylor, who died a day
or two ago, has left, $75,0O0,OOO; they say,
so that il makes his legacy, of $25O,O00
to a railroad hospital look rather small"
"What do you think about railroads in
the Southern States, Mr.. Hatch?"
Il am closely informed at present
about that kind of property; but / went
with President Keep, formerly of the
New York Central Railroad, to look at
/. railroad property there several years
} ago, and formed the conclusion that the
amount of cotton raised to the acre, and
of tobacco as well, would not provide a
paying basis if there was nothing else
for railroad Investment. You require
more than that to support your railroad
such as large mercantile traffic and
passenger business"
"YOur conclusion, then, is that blow
ing sOap-bubbles is Over?"
Eyes, it is. This vast multitude Of
men which has been coming around
Wall street for the past three or four
years expecting to get rich by following
the tail of kite are disappointed, and
sick, and gone; and a few men got all
their money and are getting richer and
richer with it, and it is sailed down by
them.
Another gentleman said to the cor
respondent the same day that if there
was not enough business for the new
railroad lines that have been built
through New York, the money put in
them might as we'll have been thrown
into the Atlantic Ocean as far as ever
Yielding a return in the present period
was concerned.
How Birds Learn to sing.
al hor r..