Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-12-28


The California Nabobs.
From the St. Louis Globe Democrat
Perhaps the Pacific coast nabob most talked
about and written about during his six years
term in the United States Senate was William
Sharon. Mr. Sharon is a singular compound
Of intellectual feebleness. personal vanity,
business 'sagacity and luck. When, twenty
years ago, he went from Ohio to California. he
had neither money, business training. nor in
fluence. In less than decade thereafter he
had an income of half million dollars a month,
and when elected to the Senate in 1874 from
Nevada, after an expenditure of fully 5000 600
in the canvass, he was reputed to be worth
S10,OOO.OO0. The country is familiar with the
small and almost ridiculous figure he cut in
Washington. But there was some reason
for it, for the death of Raston. in 1875 and the
failure Of the Bank of California. imperiled Mr..
Sharon's interests to an extent which threat.
ened him at one time with disaster. He aud
Ralston were partners in vast mining and real
estate interests, and when the latter was found
to be defaulter to the extent of nearly IS 000,-
900, there was but one thing for Sharon to do
to save himseH-nake good the deficit aud
take all of RalstOn's schemes upon his own
shoulders. 1t was mighty task. and it took
two or three years to bring order out of chaos
But it was done. The Bank of California was
fully rehabiiitated. and If SharOns original for
tune is not wholly intact, it is but little inn
paired. He is probably worth to-day from
S6,O000CO to IS, 600, O00, but a large portion of
this is represented by the Palace hotel. which
does not yield per cent a year on the original
investment. MIR. Sharon Is also the chief owner
Of the Spring Valley water-works. local mon
Opoly which supplies the city with water. and
he and DO. Mills own the Virginia and Truckee
and the Carson and Colorado railroads in Ne
vada. The former is the road which connects
Virginia City with the Central Pacific and in
boranZa times 1t used to pay 25 per cent on
capital three times watered. But those days
have gone by.
esis of SharOn-is Gen. Thomas II. Williams.
1t is proper to speak of him in connection with
Sharon. for he was the democratic candidate
against the latter for the Senate. and the two
hate each other with enthusiasm Williams is
the son OF the Hon. SherrOd Williams, q former
Kentucky Congressman. and is lawyer aud
brilliant one; but since he ''ceaned up
5000. COCO in the Big Bonanza he has aban-
doned practice, The foundation of his
Some five years before the discovery of the Big
Bonanza. he was attorney for a man in a
lawsuit in Virginia City. The general lost
the suit, and the man didn't want to pay his fee
William sued, and finally 1t was compromised
ground. called the Central No. g. claim on the
Comstock. The General took it rather than carry
the thing further, but he considered it of little
or any value. He tried to give half of it away
once if the donee would guarantee to do the as
sessment work. but the person to whom he offered
it declined. When the Consolidated Virginia
company was organized Central No. 2" aliOined
their ground on the North. When the California
company was formed it took in Central No
1, and Williams was given 5000 shares of stock
for his claim When the great bonanza was
found it was discovered that the very heart of
1.-THE bulge SO to speak-was located in that
100 feet of ground. The great rise in the stock
and the enormous dividends it yielded gave
Gen. Williams his present fortune So much
for reluctantly accepted and haIf-despised law
yer's feet Williams gets his title of General
from the fact that he was once attorney general
OF California They are fond of titles in that
state. and they attach them to each others
names on the slightest preteXt. Once elect a
man justice of the peace and he is .'Judge" for
life.
The California milOnaires with least romance
attached to the requirement OF their fortunes
are Nicholas Luning and d. o. Mills. The for
mer began in the early days as money ioaner
at aud ten per cent per month. saved money!
bought land in the then suburbs Of san Fran
cisco. and SO got rich because he couldn't hepit
he is parslmoniOus, eXacting. and one of the
most unpopular men in the city. and his calling
and habits, which he can never be induced to
change have made him So Mr.. Mills is
very different type Of man, but his vast
fortune was acquired by much the same
methods. He began his career in California as
the keeper of n kind of thread and needle
store IN sacramento, but he soon bloomed out
as a money lender and gold-dust dealer. He
made money fast and finally started bank, and
by the most cautious business methods added
to his store. Then he met the dashing Ralston
and with him and others started the Bank of
California. RalstGn carried things with high
hand. He made money by the million for HIM
self and his chief associates-AIills and Sharon
but lie couldn't keep his own share. The Bel
cher-Crown Point bonanza was nearly all the
property OF these three. with Senator Jones
added. Mills knew but little of the inner work
ings of the bank which controlled these mines
and their operations. He trusted Ralston
and Sharon for that He cOntented
himself with taking what came to
him and asking no questions But he held
on to it religiously. He never speculated know
ingly; never engaged actively in anything; he
simply sat, sleek and fat in the presidents
chair of the bank and signed his.name in per-
functory way to everything brought to him.
Mr. Mills did rouse himself once, when some
body told him that Ralston owed the bank
nearly 5000 OO0-had scOOped all it's surplus
and half its capital The sleek old gentleman
turned white for moment. but he was equal to
the occasion. He closed the door, called the
directors, demanded of Ralston statement.
which not coming as promptly as he thought
the occasion required, demanded further Rails
tons resignation. 1t was given on the spot,
and the dsgraced nabob went out of the door
and threw himself into the bay. Mr. Mills has a
fortune OF perhaps Sl5.00O.000, and how he
aCquiieu IL is mystery 10 most CallIOfnlanS
to-day. Nobody ever saw him do anything"
Is remark one frequently hears concernin.
Mr.. Mills
There was less mystery about the methods by
Which "Jim" keene accumulated the millions
with which he went to New York and startled
Wall street. He got them by cool effrontery,
braZen courage, and an energy and dash that
were marvellous He got them by an up-and-up,
stand-up, single-handed fight with James c.
Flood and his Bonanza associates When Keene
went to San Francisco he was bright fellow,
and it didn't take him long to select his way
of making living. He had been teaching
school and editing a weekly newspaper at
Shasta, CAL, and the life didn't suit him.
He often says himself that he was the poorest
editor that ever grabbed shears. So greatly
did the petty annoyances of an editorial room
impress themselves upon his memory, that
wears after, in the wild clamor of the stock
board, when fortunes were being made and
lost in minute. keene has said frequently that
above all that din he could yet hear his old
foreman's howl for copy" He began his San
Francisco career as a curbstOne broker, and
used to execute orders Oh the street for bigger
brokers In the board. His advance was rapid
and his luck prOdigious. He soon had a men,
bership, and in the great excitement of 1872
yN<.2.~