The Republican journal., 1883-02-08
The California Nabobs.

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 singular compound Of intellectual
teeblencss, personal vanity, business
Sdgacity and luck. When, twenty years
ago, he went from Ohio to California, he
had neither money, business training, nor
influence. In less than a decade there
after he had an income Of half a million
dollars a month, and when elected to the
Senate in 1874 from Nevada, after an eX-
penditure Of fully 5000, 900 in the canvass,
he was reputed to be worth $4,000, 900
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 Ralston, in 1875,
and the failure of the Bank of California,
impcTilled Mr.. SharOn's interests to an
extent which threatened him at one time
with disaster. He and Ralston were
partners in vast mining and real estate
interests, and when the latter was found
to he detaulter to the extent Of nearly
-, OOO,OOu, there was tat one thing for
Sharon to do TO save himself make good
the deficit and take all of Ralston S
schemes upon bis own shoulders 1t was
a 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 rehabilltated, and if Sharon's original
fortune is not wholly intact, it is but little
impaired. He is probably worth to-day
from 5000, 600 to - ,00O, 600, but a large
portion Of this is represented by the
Palace hotel, which does not Weld pei
cent. d year on the original investment
Mr.. Sharon is also the chief owner of the
Spring Valley water works, a local mon
opoy which supplies the city with water
and he and ID. O. Mills own the Virginia
and Truckee and the Carson and Color
ado railroads in Nevada The former is
the road which connects Virginia City
with the Central Pacific, and in bonanza
times it used to pay % per cent. on {
capital three times watered. But those
days have gone by.
Another very rich mainland the very
antthesis of Sharon-is Gen. Thomas II
Williams. 1t is proper to speak of him il
connection with Sharon, for he was the
Democratic candidate against the latter
t0l the Senate, and the two hate eacl
other with enthusiasm. Williams is the
| son OF the Hon. Sherrod Williams, {
former Kentucky Congressman, and is
lawyer and brilliant one but since he
cleaned up" $1,000 900 in the Big Bon
ANA he has abandoned practice. The
foundation Of his fortune was laid in
singular way. Some five years before thu
| discovery of the Big Bonanza, he was at
torney tor a man in lawsuit in Virginia
City The General lost the suit, and thu
man didn't want to pay his fee Williams
sued, and finally it was compromised b,
the man giving him 100 feet of mimi!
ground, called the Central No. 9" claim
on the Comstock. The General took i
rather than carry the thing farther, bu
he considered it of little if any value. H,
tried to give half of it away once if tn,
donee would guarantee to do the assess
| ment work, but the person to whom he
offered it declined. When the Consolid
ated Virginia company was organized
Central No % adjoined their ground OF
| the north. When the California cOmpan,
was formed it took in Central No. /
and Williams was given 5000 shares 0
stock for his claim. When the great bon
ANA was found it was discovered tia
the very heart of 1.-THE bulge so to speal
was located in that 100 feet of ground
The great rise in the stock and the enor
nous dividends it yielded gave Gen VIII
llams his present fortune. SO much TO
a reluctantly accepted and half despise(
lawyers fee, Williams gets his title 0
'General' from the fact that he was one,
attorney general of California. They ar
fond Of titles in that state, and they at
tach them to each others names on tn
slightest preteXt. Once elect man jus
tice of the peace and he is "Judge" TO
life.
The California milionaires with leas
romance attached TO the requirement Q
Their fortunes are Nicholas Luning ant
ID. 0. Mills. The former began in th
early days as money loaner at and tel
per cent. per month, saved money bough
land in the then suburbs of San Francis