Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-06-21
GARRISON GONE,
But He Saves Something for
Rainy Day.
ESTIMATE OF HIS LIABILITIES
The Announcement Causes a Slight Sen
satiOn ia Wall Street, and Sym
> pathy" May Make
$3.50 Trouble.
Speriarto IRE Register

NEW York, June 20.-A few years ago
the wealth of Commodore c. X Garrison
was estimated at 100000. The proba-
bihtes are that it is over and above all in
debtedness worth $4,000, 900 to-day. Yet
Garrison is, in business sense, a bankrupt.
He today assigned all his property for the
benefit of his creditors to John F. Terry,
contractor with the State for convict labor.
The assignment was made at the request
and with the advice of his friends, its first
object being to protect his great interests
!. and those Of his creditors Mr.. Garrison's 5
physical condition is such thai he is not able
to give that attention to his business which
it requires.
The News.
The news of the assignment caused great
excitement on the Stock Exchange. The
market which had been weak and feyerish
all morning broke sharply. Large blocks
were thrown on the market breaking down
prices. The bulls endeavored, but for a
time fruitlessly, to steady the list. The Van
uefDlll > NGSltEu ulOu uuu NOaA otONho
suffered the most. Why his failure should
affect Wall street is not clearly to be seen,
as he never dealt there, his stocks being
mostly of gas cOmpaniee At one time he
owned more gas stock than any one man IN
the country.
Settling Up.
For some time he has been busy with his
attorney getting his affairs into shape.
During this time he is understood to have
sold great deal of gas stock. RumOrS OF
his failure have been current for some days,
having their origin in the protesting OF a
number of Wabash railroad notes, on which
he was an ondorser. 1t is understood these
notes were allowed to 90 to protest for pO
/ EtiCal reasons. The deed of assignment
gives preference to claims amounting to
1 1851, 500. The liabilities are placed al
from S3 OOO. 900 to $1,000, 600, with asSet>
at $l5 ,0OOO 900.
Personal.
Mr. Garrison was born on the Hudson
| river at Newburgh. His father was com
mauder of a freight slOOp plying between
| New York and his home When Cornelius
| was fifteen wears old his father became
! bankrupt and the son went to New York
obtaining employment in one of Commodore
/ Tanderbilrs vessels as deCk-sweeper, and
/ later he was a partner of Vanderbilt $
/ When twenty-eight years of age he went to
| Western PENNSYLVANIA and engaged in saw
milling and building bargeS.
A Grand Deed. q.
From PENNSYLVANIA he went to st. Louis
working as iournryman carpenter. II.
/ took a contract for a row of fbuildingS. Just
as they were completed they were burned
! down bv an incendiary fire. Having Nc
money with which to pay his men he Hec
! the town and came east Years afterward
when he had become wealthy he sent to St
| Louis and hunted up all his creditors PAID
| them principal and interest together with
their fare to and from New York. From
this time forward he proSpered wonderfully
| He went TO California investing in real es
tate which has since brought him rich re
turns.
Elected Mayor.
He was three times Mayor Of San Fran
cisco. distinguishing himself by suppressing
gambling, which was then epidemic in the
city. He was not personally liberal, but al
| lowed his wife vast sums which she spent in
charities. After her death Mr.. Garrison
married Miss Randall, Of ST. Louis the
union proving very happy. The attorneys
| state it will take some time to settle up the
estate, but that all claims will be fully paid
and a handsome surplus left for the Com
modore. The largest preferred claims aro:
Bank Of California, $4,000; Bank of New
York and National Banking Association,
| 5000 900; United States Trust Company,
$4,000 T. W. Pearsall & Co., $4,000;
notes of Eames L Moore 100000