Savannah morning news. [volume] (Savannah) 1868-1887, 1884-06-23
MR.. GARRISON'S MILLIONS
HOW THE FORTUNE WAS MADE
AND ENGINEERED.

Heavy Investments in the Wheeling
ana Lake Erie Railroad Which
pelned Tie the Commodore's Hands
The foundation Of his Wealth Laid
in Canada.
For wears Commodore Garrison has
been regarded as one of the richest men
in the United States, says New York
special. his fortune being estimated at
at least $25, ,00O, 900. The greater part of
it was supposed to be in the safest and
most profitable ventures, including large
amounts of the securities of gas compa-
nies. About two years ago he and some
of his friends began to build the Wheeling
and Lake Erie Railroad between Toledo
and Wheeling. The road, which is about
$50 miles long, hos just be4n completed,
or nearly so. and is bonded for 81, $4,000
and capitalized for $4,5OO,O00. The Com
modore owns nearly al OF the securities
Of the company. After he nad put sew
eraI hundred thousand dollars into the
road he advised with some OF ms raiiroau
friends about the enterprise one OF them
told him he had better stop pNttlng any
more money into the scheme, even II ne
lost all that ne had invested.
A YEAR AGO HE. TOLD THIS SAME FRIEND
that be had put in about $3,0OO,0OO more
and that it would cost about $l,OOO,OVo 10
complete the construction OF the Ioau.
Instead it required over $3,S SC0, 600, making
the total investment of the Commodore
something over $6,000,00 Tor YAich ne
holds the stock and bonds OF the com
pany. AS an incident to this venture Ae
became interested in the Wheeling and
Lake Erie bridge across the Maumee
river at Toledo, which is capitalized at
aln - Nt nrs
connection for his Wheeling and Lake
Erie Road to Pittsburg he took a quarter
interest in the Pittsburg, Cleveland and
Toledo Railroad, now building. Another
quarter interest is held by G. II. and W.
c. Andrews, of this city and Cleveland, q
quarter by the Pittsburg and Western
Railroad Company, and the rest by local
investors in Ohio. Commodore Garrison
has been lending his money and credit 10
this company in excess of his interest.
1t is said that he has indorsed more
largely than any one else the $S,o0O,0OO OF
notes made by the company that are now
outstanding.
Commodore Garrison is about the last
o. that famous generation of business men
w ho laid the foundation of New York's
or, eatness. Hewas contemporaneous with
Coz nmOdore Vanderbilt, the Grinnells>
Mos es Taylor and Marshall o. Roberts,
He came of good Holland Dutch stock, and
was born near West Point, on the Hudson,
Marc h 1, 1909. BE had the ordinary linn
tied ft lcilities for education until he was
13. when he began to get work on the
boats that piled on the Hudson. His
mother wanted him to be an architect,
and WHEN 16 years old he came to New
York to study for that profession. He
studied three years and then went
to Canada and became builder. Five
years latel he returned with neat
sum of money. He then went to
New Orleans and engaged in boat-build-
ing, growing veal thy at it. The first boat
that he built was tue Convoy, and Raj
stOn, the famous California ban ker, was
her first clerk. Then came the discovery
of gold in California and the rush to the
Pacific by the way of Panama. Young
Garrison at once went to Panama and
opened banking house. In 1852 he c, anne
back to New I Ork to establish a bran en-
of this Panama house, but he was offered
$50, 900 year to go to S;(n Francisco and
manage the affairs of the Nicaragua J
Steamship Company, and in 1858 he went |
to San Francisco He managed the COM |
pany with rare talent and in six months |
was Mayor of the city. He was a good
Mayor, put the city's finances in good |
shape, shut up gambling dells and Sunday
theatres, organized the public school sys-
TEN, founded the first school for coIored
children ever established, and divided his
salary between Protestant and Catholic
charities. /
HE LIVED IN CALIFORNIA
seven years, became interested in the
China and Japan trade, and was one of !
the first advocates ofthe first Pacific Rail- |
road. In 1860, at the age of 81, the Com |
mOdore returned to New York "a million |
aire, and became one of the foremost |
capitalists of the city. When the war |
broke out he put his ships at the service |
of the government, and gave lib orally to |
the raising and equipment of troops. Gen. |
Buffers Ship Island expedition was al |
most wholly fitted out by Commodore |
Garrison. After the war he identified /
himself largely in steamship lines and |
railroads and other public schemes. He |
was one Of the founders Of the Peo ple's |
Gas Light Company, of Chicago. |
He bought real estate largely. In 1873 |
he married for his second wife |
Miss Letitia Randall, an accomplished |
young lady of St. Louis. She was %, the /
Commodore SO. After that he began to
give up his business somewhat, turning |
it over to his only son, w. r. Garrison,
who died in 1882 from injuries received in
the accident on the Long Branch Railroad |
at Parker's creek. This was a terrible |
blow to the old man. The CommOdore's 4
only daughter is Mrs. Van Auken, of this l
city. Commodore Garrison some years |
ago had a stroke of paralysis, from the
effects of which he has never entirely re-
covered. He lives in a comparativeIy |
modest home on Park avenue, one of the |
quletest streets in the city. He is WELL /
known figure at Saratoga. He is tall, |
still erect, with fine cut features, a Ro- |
man nose, small, gray side-whiskers, and |
white hair.