Savannah morning news. [volume] (Savannah) 1868-1887, 1884-08-13
THE PRINCESS OF WALL STREET
Inheriting a Large Fortune, She Triples
1t by Speculation and Parsimony.

spectators in the world" said a prOmi.
nent member of the Stock Exchange to a
New York World reporter at the Windsor
Hotel the other evening, is the Princess
eff Wales.'"
''Whatw calculated his hearer, 'sthe
Princess of Wales speculator in stocks ?''
The Princess of Wales / speak of Is
not the wife of the royal heir of the throne
of Great Britain. This title has been
given by common consent to daughter
of a rich old whaler of New Bedford. who
died number of years ago, leaving her
an immense fortune. This wealth she
has doubled several times by her wonder
full operations in stocks. / wonder YOU
have never heard of her. You have GER
tainly heard of her husband, who is in
every way much less remarkable per-
son than she is. Until recently he was
a prominent director and some time ago
was, believe, for a short period Presi-
dent of one of the largest railroads in this
country. He is noted speculatOr, and
his name is not at all descriptive of his
sagaclty and shreWdness. He is man of
remarkable height, standing nearly Z feet
| high. He is well known both in the Lon
don and New York stock markets, at the
former by remarkable deal IN Erie and
at the latter for the part he took in adj
yancing the prices, several years ago, of
Louisvilleiand Nashville.
L
first spoke died, he left her $4,000 600.
This made her one of the richest women
| in America, and as significant of the
source Of her wealth she was called the
Princess of Wales by those who knew Of
her. She inherited with her millions a
talent for the acquisition of money and
an overmastering passion to keep it. OF
! course she had many suitOrs, but among
| them all there was none who could match
| her fortune with his own. That was what
| she was looking for. Failing in this, she
contented herself with a gentleman who
| could produce evidence of being worth
| 100000. This he had made in the
! Manila trade. He was Of a liberal dis
| position, and lived in a generous manner.
After his marriage, however, his wife's
stronger intellect changed his dispos-
tion, and made him also the victim of a
| mania for saving.
cit is related of the early days OF their
| courtship that in order to facilitate his
| entrance into her house he gave a liberal
| fee to the servant. Learning of it she
| nearly broke off all further intercourse
with him, as she could never marrya q man
who exhibited such extravaganza. when
| the marriage papers were made out she
| had 1t stipulated that all their Joint living
| and personal expenses should be paid by
| him alone, Notwithstanding that her for
| tune was ten or twelve times as large as
| his. Following their marriage came a
| grand career of accumulation, Not sat
isied with fortune of princely propor-
tiOs, they proposed by parsimony anu
speculation to double and triple it. The
death of an aunt added one $1,000, 900 to
the Wife's treasure. She began immedi-
ately, however, to cut down what she call
ed her husbands eXtravagant expenses
''She compelled him to give up his ele-
CANT bachelor apartments and hire the
most nQOOnO1ina1 Ubo ;rfI, oc
son gave more unselfish aspect to her
passion for gain. 1t was net now for her
self that she saved, but for her child. She
made up her mind that he should be one
of the richest-if not the richest-inen in
America. While coasting one day, how
ever, he met with an accident which has
made him cripple for life. He also
became subject to violent fits.
can anecdote here will illustrate her
extreme parsimony. They were board
ing at Babylon, l.. l., when the lad was
attacked with convulsiOns. A doctor was
sent for, but before his arrival the child
had recovered, and the 'Princess' waited
at the window for the physician. AS he
drew up she shouted to him: Don't come
in, doctor, he is all right now.' Thus she
saved DOCTORS fee.
"Under her direction their combined
fortunes were so invested as to save, as
tar as possible, the payment OF taxes.
Though both Americans they hired two or
three rooms in London, and this they an
nOunced as their residence, though they
pass most of their time in this country.
He is now about 55 years old and she
about 30. The lad is about 10 wears of
age. They have rolled up their wealth
until now have no doubt that $50, 600, 900
scarcely represents it's extent. Though
possessed of an annual income of about
S3,O0O,OOO | venture to say that their total
expenses do not average more than $500
per year. Rather than pay for a cab
nave known her to walk to party through
foot of snow with pair Of old stockings
drawn over her shoes.
'But they could not have created all
this wealth simply by savingg"
mo; the slarger part of it is the result
OF successful speculations. She is re-
markably shrewd in her investments in
stocks and he IS not far behind her in
talent OF this kind. He may be remem.
bered as having made a million dollars in
few days in London by the rapid ad- |
vance In Erie following the expulsion of
Gould from the management. He has
also made large sums by his deals in
Louisville and Nashville in this country.
A peculiarly of their speculations is that
they operate on separate accounts and
often without each others knowledge.
She has made her stock investments
largely, it IS said, through the banking
house of John j. Cisco & Co. Her opera
tions are large and daring, but almost
uniformly successful. For a long time
she made Reading speciality and thought
nothing of buying 10000 or 10000 shares
at time. Even during the recent de-
preston in stocks they have generally
been right on the market and have added
to their immense accumulations.
''She is undoubtedly the richest woman
in the world except perhaps Queen Vic
toria. Mrs. COutts-Bartlett, rich as she
is, must rank second to the Princess of
Wales.'"
"Are these facts which you are relat-
ing to me?'
They are. No objection to telling YOU
the name of this worthy. l relate the
facts because l think 1t a shame that
these persons, natives of this land, should
have cut themselves of from ali native
ties and have so invested their fortune
as to eyade all the responsibilities of citi- |
zenshIp and the burdens of taxation. Let
them be parsimonious if they choose, but
they should make some contribution for
the maintenance of the government and
good order, which are the best guarantee
~ Of Of lei