The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-04
WASHINGTON MILLIONAIRES.
The Wealth of w. w. Corcoran and Inventor
Alexander Graham Bell.

The Wealth of w. w. Corcoran and Inventor
Alexander Graham Bell.
Washington Letter in Philadelphia Record.
There are very few millionaires in Washing
ton. Indeed. / doubt whether there are more
than two. The only two of whose right to the
title there can be no doubt are William W. Cor
coran and Alexander Graham Bell. Corcoran is
the Irish shoemaker who has risen to be the chief
banker and benefactor of his city He is we'll
past his tRreescore years and ten, we'll pre-
served old gentleman, with snow-white hair and
beard, cut short, who dresses we'll, ard hasA
very distinguished air. He dates his fortune from
the Mexican Var, when be handled the govern
ment loan. Ever since then he has grown
richer and richer through the constant improve
ment IN his investments He has put good
deal of mis- money into Washington reM estate. he
is next to the largest real estate taxpayer here
his real property being assessed at 1891, 964 He
long since retired from the banking firm of Cor
coran & Riggs, which he founded so long ago
that the present generation knows the bank only
AS Riggs d Co. But some of Corcoran's capital
is in the bank yet and as he visits his Office in
the bank every pleasant day, the young men of
Riggs q Co. still have the benefit of his counsel
He is very wise old fnancer STILL There is ro-
mantle flavor in the reputation he has won, for
no one can think of him without thinking OF his
generous beneyolence.. He has given Washing
ton Oak Hill Cemetery. the Coreoran Gallery of
Art and the Louise Home for Gentlewomen.
He has endowed the Columbian University and
the Episcopal Church of the Ascension. His
name Is on every subscription list, and his prl-
vate charities numberless. Historical asso-
Citations cluster around him. He has been the
friend of the great of politics, art and liter
allure. bis clearinghouse is the building long
occupied by the Bank of the United States. lie
lives In the residence of Daniel Webster, which
he has remodeled and embellished until it COM
pares favorably with any modern house here.
Hewas an intimate friend of Webster, and helped
him out OF many a financial quagmire. Living
happily and peacefully, surrounded by attentive
relatives, dividing his years between Washing
ton and the White Sulpher Springs. he bids fair
to be centenarian. Alexander Graham Bell is
the inventor of the telephone now generally
used all over the world. Unlike most inventors,
he is the chief beneficiary Of his invention.
young teacher, poor in pocket but rich in brains,
and full OF the fervid enthusiasm of the true
scientist, he would probably have given the re-
suits of his laborous Investigations to the
world as free gift, but he had IN Professor
Gardiner g. Hubbard shrewd Yankee father
in-aw who showed him how to
same time. Bell is very rich. Hubbard is
only less rich So are all their relatives. Bell
lives in handsome modern brick house of his
own design on Scott Circle Hubbard lives in
similar house few blocks west on Dupont Cir
cle Bells house has every modern improve
ment, including some of his own invention so
modern that the general public has not heard of
them vet These are chiefly applications of cleo
trlclty to purposes or convenience. he has a
fine collection of paintings, water colors and
etchings and a very good library His labora-
tory, which he calls 1.-The Volta laboratory"
is fuarther west. just across from his home
is the little cottage and gardens which
he bought from Andrews, the artist, where he
teaches deaf and dumb children Bell is we'll
built man, of good height. His black hair and
beard are beginnngto turn gray, but his face is as
young as his heart. He is broad minded, generous
and gracious. know no one who carries great
success more gracefully. Besides these know no
other resident milionaires. George W. Riggs
Corcorans old partner, was millionaire, but he
is dead, and his estate is in the hands of his
children. He was a little gray haired business
man, who lived in large gloomy looking brick
house just in the rear of Corcoran's. Next door
for years was the British legation. and so it is
not strange that one of the bankers daughters
married one of the secretaries of the legation
Sir Henry Howard. Of course there are dozens
of milionaires here in the winter in Congress
and out of it, and there are dozens of residents
who are almost milhonaires, for. despite all state
ments to the contrary. you can
make money honestly in Washington-up
to a certain point, say 100000. A
graf deal of money is made all the time in the
real estate market. A dozen Of the principal
real estate men have made fortunes in the last
dozen years And real estate in Washington is
still safe and sensible investment. Its cost is
low, comparatively. and its value constantly in
creasing. But don't see how any body can ever
make so much money at Washington nowadays
hoo lcdu