Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-10
JOHN ToBIN.
4 Former Railroad King arrested for
Drunkenness.

DTtt9skeHneSS.
A dispatch from New York dated Sunday
last says:-John Tobin, ox-president of the
Hudson river railroad, and at one time
power in Wall street, was arrested last
evening near the Staten island ferry for
drunkenness. He was locked up in the
First precinct station, and to-day was taken
before Justice Morgan at the Tombs police
court, who discharged him with repri-
mana. Formerly millionaire and man
whose operations set the stock exchange
in an uproar and Influenced speculation all
over the country, he has become an utter
wreck physically as well as financially. In
the days Of his prosperity his speculative
schemes were on the scale of those of Cor
nelius Vanderbilt and Daniel Drew, and he
dealt in shares by the 100000. Now he is
little better than a beggar, and the police
say that
he IS RARELY SEEN SOBER.
John Tobin was one of the best known
men in Wall street during the war. He
was wholesale wine and liquor merchant
nent in speculation. His operations first
they became more extensive year after
year, until they reached climax in the
famous Hudson river and Harlem railroad
corners" Tobin was at one time the So
called leader of the street," but it was
only for a short time, and he never at
tanned anything like the extended reputa-
ton Of such noted speculator as Daniel
Drew. Tob1n and Drew were on the same
-. of %Iar hot; =;
ticular stocks, but they we're never allies
for any protracted operation. When at
THE HEIGHT OF Els SUCCESSES,
Tobin was estimated to have about $4,000,
| 600. One of his freaks caused a good
deal of talk in the street, and throughout
the city. At the close Of one of his most
| brilliant and lucrative campaigns he made
| up his mind to draw out all his balances
| in brokers' Offices and in banks, and to con-
vert the amounts into cash. He also deter
mined to take the cash and all the securi-
| ties which he had to his home up town. It
is said in Wall street that, as a result
of this realization of his assets, he carried
to his house the comfortable
sum of $1,G0O,0O0 in greenbacks, in add.
ton to large sums in securities. But prob.
dUiy 1oUiN largest gains III any single
operation or series Of operations were
made in the famous Harlem corner" In
1860 Harlem stock was only So or SIS
per share, and Commodore Vanderbilt alb
sorbed mass of it at those figures In
the beginning of 1868 the stock was al
$50; in July of the same year it was up to
$92; in the following month the corner
reached its elimination. Leonard w. Je
rome, John Tobin, and their associates had
a grip that could not be shaken on all the
stock which was available for speculative
purposes, and the unfortunate men who
were ''short'' of the stock were forced t.
settle their contracts at 1919. John Tobi1
was larger holder of Hudson river rail
road stock in1S62 and 1868, and was presi
dent of the company On 1864, when Com
modore Vanderbilt bought controlling
interest in the stock, at nearly par, ant
turned out Tobin from the presidency. AL
ways convivial in his habits, he became
hard drfnker after his wealth had bee,
swept away. His riches we're steadily re
duced from 1866 to 1862 He continue,
to speculate in a trivial way, until of lat
he has become utterly broken down from
dissipation.