Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1884-07-17
OoMMoDoRE GARRIsoN.
The Remarkable Career of the octoge-
Gould to Terms.


Commodore c. K. GarTison's career has
! been remarkable one. From poverty
he arose step-by-step to a position of
wealth and power seldom achieved even
| by great capitalists. He was born near
what is now known as Garrisons, on the
Hudson river, about 1900. Some of his
blographers have enormously put the
date OF his birth at later period. His
father, Oliver Garrison, was at one time
quith wealthy, but he lost his entire for
tune when Cornelius was only a child
Young Garrison was an energetic lad,
and went to work at odd jobs on the riv-
er boats at the age of l3 years. At the
age of 10 he came to this city, at the de-
sire of his mother, studied architecture
for three years. He then went to Canada
and spent five years in the active bust
ness of builder of houses and steam
boats. 1t was during this period that he
married a lady from Buffalo.
Mr.. Garrison went from Canada to st.
Louis, where he became largely interest
ed in matters connected with the navi-
cation of the Mississippi river. He was
captain of a steamboat on that river, and
hence his title of commodore. It is said
that he was for while engaged in mer-
camille business in st Louis. When gold
was discovered in California Mr.. Garrison
went to Panama and established bank
ing house which was very successful.
Subsequently he acce pted the agency of
the Nicaragua Steamship line, in San
Francisco. His extraordinary business
achievements on the Pacific slope from
! 1858 to 1850 form part of the history of
San Francisco itself. As agent of the
steamship company he received a salary
of about 100000 a year, and he got about
$4,000 additional as the Representative
of various insurance companies. He put
a great amount of energy and executive
ability into his work and effected a COM
plete reorganization of the steamship
company. He acquired public popularity
and was elected mayor of San Francisco
within six months after his arrival there.
His administration was one of vigorous
and effective reform. Meanwhile he
started the movement that led to the Or
ganization Of the Pacific Mail Steamship
company, and urged the exploration Of a
route for the Pacific railroad. His benevo-
lence and public spirit at that time are
said to have been great. To d. 0. Mills,
and other capitalists owe much of their
success.
Upon his return to New York, in 1860,
Commodore Garrison embarked in a
number of extensive enterprises, all of
which were financially successful. His
fortune was then reputed to be several
millions of dollars. During the war of
the rebellion Mr.. Garrison fitted out,
principally by his own exertions, what
was known as Buffers Ship island expe-
dition."
Among the great enterprises with
which Mr.. Garrison has been prominent
ly identified is the one now known as
the Missouri Pacific railway. He had in
vested quite largely in the securities of
the road, which was originally known as
the Pacific Railroad Of Missouri. and was
the principal owner Of the third mort
gage bonds. After the panic of 1873 the
company became embarrassed, and in
1876 was sold under the foreclosure Of the
mortgage secured by the bonds held by
the Commodore. The road was reOrgau-
lied, with the Commodore as President,
and out of this reorganization has grown
the Marie Garrison suit. Peter Marie
claims that he would have prevented the
foreclosure, and consented to waive his
objections on the promise of bonus of
$4,000 shares of stock in the new COM
pany, which were never delivered to him.
This suit, it is said by the Commodore s
friends, has been the occasion of inca1cul-
able worry and anxiety to him, which
has been greatly intensified by the de-
cision of the preme Court of the United
States in the suit brought by the Pacific
Railway of Missouri to set aside the de-
cree of foreclosure in 1876. When the
old road was sold it was bought by a syn
dictate which included Commodore CARR
son and Russell Sage. Upon the reOr-
ganization, this syndicate sold a control
ling interest to Jay Gould, with, it is said,
the personal guarantee Of the COmmO-
| dOre to the validity of the title. The
stockholders ofthe oldroad claimed than
E the foreclosure proceedings were fradu-
L. 4IO oil bo
suit to be tried on its merits.
This transaction with Jay Gould was
characteristic of the bluff old Commodore.
J When Mr.. Gould found that IL was absO-
/ lutely necessary for him to secure the
Missouri Pacific to complete his south
western system, he approached Mr.. Gar
rison and asked him how much he would
: take for his interest. Mr.. Garrison nam
! ed a price, which Mr.. Gould said was too
! high. Mr.. Garrison refused to come
down a dollar, and Mr.. Gould went away
in a huff. The next day, however, Mr..
Gould called on the Commodore and said
| he had concluded to take the property.
"But won't sell it to you at the price
| I named yesterday" said Garrison.
"Why not?" said Mr.. Gould.
Because it is worth 100000 more to-
day"
; "Pooh, poohp' said MIR. Gould, and
again went away. The next day he re-
turned and said that he would pay the
, increased price.
''Well, the property is worth 100000
more to-day than it was yesterday" said
Garrison.
81 won't pay il, !" said Mr. Gould angrily
Cali right" was the reply. The price
will advance 100000 day while you
are making up your mind" Mr.. Gould
bought the road then and there.
Among the other enterprises in which
5 Commodore Garrison became heavily in
volved was the Wheeling and Lake Erie
railroad, which was started to afford an
r outlet from the coal-felds of western Vir-
GINA and northeastern Ohio to the north
} west. According to the statement of his