The Portland daily press., 1885-06-12
Cal1fornia's Bonanza Kings.

Cal1fornia's Bonanza Kings.
San Francisco Letter in st. Louis Globe-Democrat
The reporters for several days have been
trying to get at the real causes which have
led to the retirement of Senator Fair from
the Nevada bank. This took place last
November, but so retcent is every one con-
nected with the institution that it leaked out
only few days ago. The bank Is one of
The largest financial institutions on the coast
and was incorporated in May, 1875, about
the time when the bonanza excitement first
began 70 show signs of waning Its capital
stock was $5,000,000, and the incorpora,ors
were the bonanza kings-Flood, O'Buen,
Mackay, and Fair-and Louis McLane, the
head of Wells, Fargo 6 Co.'s great express
company. McLane retired In about two
years, and since then the bonanza men have
ruled the bank, by means of dummy stock
holders, about as effectually as though 1t
were a mine on the Comstock. The bank
has been little mint In revenue to the min
ing millionaires, as they have used it as
tender to all their speculation, and its ac-
counts have given them fine knowledge Of
the moneyed strength of the chief operators
on Pine street. Last fall it seems that
Mackay and Fair had = serious falling out,
and Makay declared he would either sell
out to Fair or buy the Senator's share. Fair
replied that he wouldn't sell unless Flood
would sell also, or that he would buy out
both. He thought at the time that Mackay
was crippled by his telegraph and cable
schemes, and could not accept his offer.
Mackay, however, promptly agreed to bis
terms, and, it is said, bought the shares Of
Flood aud Fair, making him the sole owner
of this whole bank. Flood, as dummy
stockhoder, remained in the presidency,
and will continue to discharge the daties Of
that office until next November.
Fair is credited with being the sharpest
and most uDscrupulous of all the bonanza
millionaires. Uncle Billy O'Brien never
had any capacity except for drinking whisky
and his chief service in his last years was TO
ornament the front of the bank, leaning
against one of the big pillars and giving out
false pointers" in stocks to the credulous
crowd who believed that he had inside infor-
nation of rich strikes oil ore. He died, and
his sole memorial is a huge granite aud mar
BILE slab in the Catholic cemetery, for the
erection of which he had the shire wdness to
leave in his will handsome sum. Flood Is
as square dealing as man who manipulates
mining stocks can be, and his word is said
TO be as good as his bond in any business
transaction. Mackay is more popular here
than Flood, and there is even more conf
dence in his integrity. Like Flood, he il
very retcent and has great dissemination
to any notorety, never appearing in the
newspapers when he can avoid it. Person
ally he doesn't spend S2500 a year upon
himself, as he dresses very plainly 10
slouch hat and an ordinary business suit,
but it must take the revenues of million
aire to meet the bills of his wife in Paris.
Flood is also very simple in his own tastes,
and is seldom seen at any place of amuse-
ment, but he has an expensive family and is
building brown-stone palace on Mob hill
which will cost 81 ,000,0 900 before it is COM
pleted and furnished.
The Nevada silver Senator keeps no es-
tablishment since his wife secured divorce
and 81, 100000 OF the common property.
Public opinion was against him at the time
of the divorce suit of his wife, and nothing
has since changed it. She has lived quietly
with her children in her handsome residence
on Pine strees, few blocks beyond the rail-
road millionaires' palaces. She goes into
the best society and gives very handsome
entertainments. The secret Of her success is,
not that she has education or culture, but
that she is without any pretense and is q
Woman OF mucn social tact ana common
sense. She has upon more than one occasion
administered well deserved rebukes to some
of the nouveaux riches who have made
themselves offensive at her receptions. Her
charities are many and unostentatious.
About year ago there were rumors of her
approaching marriage to journalist OF this
city, who was always welcome guest at
her receptions, but as their relations have
not changed in this time this is, perhaps,
the best refutation of the truth Of the ru-
mors. The Senator, meanwhile, has pre-
pared a fine lot on the crest of mob hill
ready for building, but no one can learn
anything of bis plans Rumor last year was
busy in coupling his name with that of Miss
Annie Carpenter, the niece of Tom Fitch,
of Arizona, the silver-tongued orator, but If
Fair has any matrimonial intentions he has
kept them, with his good qualities, hid un-
der bushel.