Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1884-10-04

A. SUCCESSFUL BANKER, AND FOR
20 YEARS PRESIDENT OF THE
GREAT b. 6 o. r. r..
John w. Garrett President Of the
Baltimore and Ohio Railroad Com
pany, died at Deer Park, Md, at
5 rs Friday morning latter a protract-
ed illness, in the 65th year of his age.
He had been at this place for some
time, and it was supposed that the
mountain air would be a benefit to
him. but his mental as we'll as ply
steal prostration was SO great that be
could not rally.
John w. Garrett was born in Bal
timore on July 81, 1920. His father,
Robert Garrett, went to Baltimore
from the north of Ireland a poor
man. He soon began to accumulate
money, and afterward founded the
banking house of Robert Garrett &
Sons, the junior members of the firm
being Henry s. and John w. Garrett,
the latter of whom entered the house
at the age of 10, on his return from
Lafayette College. In course OF
time John w. Garrett became the
head of the firm, and associated with
him his two sons, Robert and L.
Harrison Garrett, still retaining
the name and style of Robert Carrot
81 Sons. The firm became in time the
American branch or correspondent
Of the great house of Peabody u Co.
in London, and Mr.. Garrett was one
of the personal friends of the great
philanthropist. In 1858, on motion
Of John Hopkins, the millionaire,
John w. Garrett was elected Presi
dent of the Baltimore and Ohio Rail
road Company, he having been elect
ed q director a year earlier. Mr..
Garrett at once inaugurated that
policy of economy, retrenchment,
and personal supervision that has
ever since characterized his man
agement, the first practical result of
which was the payment to the stock
holders in the spring of 1859 of the
first of that unbroken series of divid-
ends that has continued to this day,
and raised the value of the stock
from $57, the highest quotation at
the time when Mr.. Garrett took
hold, to something over 5000 to-day.
In the mean time he has extended
the main line and built branches,
without increasing to any consider
able extent the capital stock of the
company and without contracting a
debt equal to that of many roads of
far less mileage and business.
Mr.. Garrett had felt his strength
declining for a year or so, and had
gradually shifted a portion of the
burden of the management of the
road on the shoulders of his son
Robert, who some time ago became
it's First Vice President, and was
acting President during his trip to
Europe about two years ago to me-
gOtiate loan to enable his company
to extend its main line to Philadel-
phia and connect with the Reading
system to New York. Soon after
his return from Europe his wife was
thrown from her carriage and died
from the effects of her injuries.
This was heavy blow to Mr.. Gar
rett, and he never recovered from it..
The prostration developed disease Of
the kidneys and kindred disorders
which were heavy drains on his con-
stitution. Last summer he went to
Wood Lake, N. j., where he i'm
proved considerably. In midsum-
mer he went to Deer Park and three
weeks ago he had a relapse which
ended in his death.
Mr.. Garrett did not confine his
activity to the affairs of the railroad
company. He remained the active
head of the banking house, was a
large operator in the stocks of his
own and other railways, and the pos
SCISSOR of much real estate. He was
one of the trustees of the Johns
| Hopkins estate, and connected with
many other local institutions. He
was also quite active in politics
some years ago, and was recently
spoken of as possible Democratic
| candidate for Governor of Maryland,
| though he refused to permit the use
| of his name. He leaves an estate
worth millions.
His funeral took place on Sunday
morning, at which there was in at
tendance over 10000 people. One
thousand operatives of the B. 81 o.
r.. II. Company attended in a body.
| All the officials of the Main stem
and many from the branch roads
were present.
Great TriState Republican
Rally