Savannah morning news. [volume] (Savannah) 1868-1887, 1885-10-13
SSrI.LIoNArRE MACKAx.
The Stories OF His wealth Largely u.
true-His Probable Wealth.
From q CAinano Rer1I

from the Caicdgo Herald.
The story Of John w. Mackay's buying
the New York Herald, or rather, as the
original liar said, stalking it for debit"
has been appropriately squelched. That
was perhaps the silliest canard of the
season. Right here it ought to be said
that there is more nonsense written about
John Maekay than perhaps any other rich
man in America. Most of the twaddle
about his wealth is the veriest romance.
he il In truth very rich, richer than al
most any American who, without the aid
Of slch advantages as may come from
pure chance, can ever hope to become, but
the fashion that many have of ranking
Mackay with the Monte Cristos Of the
earth is absurd. There are scores of men
in America richer than Mackay, and who
have their wealth better invested and
more in hand. That great bonanza firm
reached the climax of its golden romance
IN 1876. Their stock in the bonanza mines
was then worth perhaps 500, 000, 000 The
mines IN which they had 4 controlling in
terest were paying S2,00O,00 a month, but
this went gradually down and went rapid
ly. The firm, as a firm, never realized
more than 100000 month profit. This
was enough 10 give romance to the silver
cave, and il 1t had held out in treasure it
would no doubt have made Mackay Flood,
FAR and O'Brien the richest people on
the earth's surface.
But IL did not hold out. O'Brien died in
1878, while these stocks were vet paving
dividends and while their market value
was yet way up. His stocks were dis
posed Of az market rates, yet his whole es-
tate settled up but S., 100000. Every bo-
nanza interest tumbled after, that. Its
stocks, stamp mills, wood and water in
terests all went to the dogs.
Mackay, it is well known, had twice
what his other partners had. Therefore,
II he had died in place of O'Brieu at the
time the latter did his estate would have
come to $20,000,000 or thereabouts. That
was the very climax Of bonanza wealth
Mr.. Mackay never was richer than 500
100000 even on paper. He has been
known as the poorest investor of any of
the bonanza firm. He never yet made an
investment, except in government or
State bonds, that yielded a dollar of in
come. All his speculative investments
nave come to naught. He gives away vast
sums, squanderes other vast sums,
and we all know what Mrs. Mackay
aecOmplishes In the way of expenditure.
One day, In front OF the Nevada bank,
in San Francisco, Mr.. Mackay read in a
paper handed to him an absurd state
ment that Mrs. Mackay had offered to buy
the Arc de Tri0mphe,in Paris, for :, 200, 900
francs.
you may say" said John W. in his
broad North of Ireland accent, "that Mrs.
Mackay is no fool and neither is John
Mackay. That is lie. sir. An you may
say. mon, that if John Mackay was fool
enough to pay for that arch or any other
arch, begad, sir, he don't know where in
h. the money is comm from. They've
bled me, sor, like a lot of wolves. They
say Mrs Mackay has spent a half million
year in Europe. It's a dom lie. sir. She
lives like lady and want her to do so,
but. begad, $4,000 year pays all her eX-
penses, balls and all, for a whole year.
They said the other day she spent $4,000 ION
single ball to Grevy or sOmebOdy-Gad
knows who 1t is-but that is a lie, sor
She don't spend $4,000 in a whole year in
Paris. Say that, will you, sor?''
Mr.. Mackay was sincere in this. Mrs.
Mackay is not near the spendthrift that
lot OF romance writer's try to make her
out. Yet johns own admission that her
expenditures were $4,000 year. or there
abouts, is enough to make workers growl
and people Of small means weep. Fifty
thousand year to idle away! just for a
woman's pride! A woman, daughter of
a barher-a barber in Downieville. Cal.
in 1856, now "COlOneP' j. II. Hungerford,
Of the Boulevard des Malesherbes-tbe
knightly father-in-law of the great came
rican Midas" as the French like to call
Mackay.
After all, it is a stupendous Joke. And
the Prince Telfeuner, Of Italy, married
the youngestOt the barber's daughters, and
the Prince Colonna, heir OF the greatest
house Of Italy, Mackay's married step
daughter--her father was poorlittle drug
gist in a mining camp in Nevada City.
Could anyrough or vigorous romance ever
lind such expression?