The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-05-06
"CoMMopoRR" GARRISON.

OAnAAOOOIh14 IA 6SAoON.
Commodore Garrison who died IN New
York last Friday. was worth from S, 900, 900
to 50, 900, Geo. The Commodore's title was
given him in st. Louis, whittier he removed
from Canada. and become largely interested
in matters connected with the navigation of
the Mississippi River. His position as Cap.
tain On a boat led to his being called "Com-
modore."
From q sketch of his life found in the
Courier-Journal we gather many interesting
points. The finding of gold in California
led to his removal to Panama, where he did
q large business as banker. Being offered
the agency of the Nicaragua Steamship Line
he accepted it, and removed to San Fran
cisco. From the year 1855 10 1860 he dis
played astonishing business ability. His in
come from the steamship line was $50. 900
year, end be is reported to have made
5000 additional in the insurance agency
business. As one of the frs. Mayors OF San
Francisco, elected only six months after his
arrival in the city, he did excellent work in
the cause of civil order and greatly increased
bis popularity on the Pacific slope. He after
oIOb 1C1uOIGO " NCW OiiJf Mnclc nC
soon became a millionaire. For a long time
be kept his wealth in ships and real estate.
Then afterweId he became largely interested
in gas companies at New York, Chicago, Bal
timore, st. Louis and New Orleans. He was
the largest owner of gas property in the
world. He bought the Missouri Pacific Rail-
road and sold it to Jay Gould. Apropos of
fhf. c4o 10 cd ~ him
Mr.. Gould found that it was absolutely nec-
essary for him to secure the Missouri Pacific
to complete his Southwestern system, he
approached Mr.. Garrison and asked him how
much he would take for his interest. Mr..
Garrison named price, which Mr.. Gould
said was too high. Mr.. Garrison re-
fused to come down a dollar, and
day, however, Mr.. Gould called on the Com
modoIe and said lie had concluded to take
the property. "Bat won't sell il to you at
the price 1 named yesterday" said Garrison.
"Wby not?" said Mr.. Gould. Because it is
worth $500 600 more today" Pooh, pooh"
said Mr.. Gould. and again went away. The
next day he returned aud said he would pay
the increased price. "Well, the property is
worth $4,000 more to Gay than it was yes
terdsy," said Garrison. 81 won't pay il"
said Mr.. Gould angrily. '.All right" was
the reply. The price will advances $500, OC0
e day while you are making up your mind"
&r. Gould bought the road then and there.
This was in 1870. Tue price paid was SIS 0Oo,-
0G0, and the other stockholders we're to get
pro rata of the purchase money. This they
did not receive, and then Mr.. Peter Marie
and others brought the famous FIVE million
suit against Garrison, which is still pending.
The Supreme Court declared that 1.-The
Commodore" was liable to the stockholders
for their proportion of the purchase money.
Among the other enterprises in which Com
modore Garrison became heavily involved
was the Wheeling and Lake Erie Railroad,
which was started to afford an outlet from
the coal fields of Western Virginia and
Northeastern Ohio to the Northwe He
locked Up in this enterprise very nearly
50. OC0.0 eco, which became entirely unpro-
ductiye. In 1884 New York was startled by
the announcement that Garrison, one of the
richest men in the country, had made an as
Segment. In q short time this was being
talked about and the subject of news
paper comment all over this continent
and in the financial centers of Europe,
particularly in London. Mt. Garri-
sons assignment was made to John T..
Terry, the second partner IN the firm OF E.
NJ. Morgan & Co. The preferences in his
assignment amounted TO more than 81, $780,
COO. his assets greatly exceeded his liabili-
ties. He owned house on Park avenue,
New York, and cottage at Long Branch.
Much OF his time during the latter years OF
his life he spent ct his cottage. BE never
fuller recovered from psrslytic stroke he
received few years sgo, and from grief at
the death of his son. Garrison was born
about the year 1900 on the Tucson River.
At an early sgs MS father failed and the boy
was thrown upon hisresources. at sixteen
he went to New York and then to Canada.
Success began soon to attend his efforts, rs
indicated in the foregoing.