The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1886-04-08

thls country artificial lights were used that
work enlIAs new Palner house might go on
by night AMI as well as by dav. BuiIding
after building rose from the ashes. No man
contributed so much to the resurrection and
new life of Chicago as Potter Palmer.
But his whole fortune was risked upon the
outcome It is only half a secret that at one
time 1t was question If ne could escape at
least temporary insolvency. He had little or
no income. His fortune was invested in real
estate. Insurance returns were rneager.
taxes ENORMOUS. His building operations re-
qulred immense outlaws. The Palmer house
alone swallowed 2500, 600 in its building anG.
furnishing before it was opened to guests.
But he never faltered. Some real estate was
sold, other mortgaged Rates of interest
were high, and following all, came the panic
OF 1913. Yet he pulled through, and soon
found that his ry boldness had saved mucr
of his fortune. For whereas a more timid
man would have kept nearer the shore in the
storm and sold more realty. Palmer
held to as much as possible and
subsequently profited by the amazing in
crease IN the value of Chicago business
property. Potter Palmer is to-day a very
wealthy man, and his rent roll is the largest
In the city. 1t fills twenty pages, and much
OF it represents stores and other business
buildings in the heart of the city. Thus,
notwithstanding that the real estate which
he was compelled to sacrifice during his
extremity is now worth 81 ,000, 900 more than
he received for it, Potter Palmer has ex-
pended more money in buildings than any
other Chicagoan. Four and half million
dollars represent his investments in this
direction in this city. These, as we'll as the
other figures given in this letter, may be
relied upon, as l have them from Mr..
Palmers own lips.
That Potter Palmer's life story is one Of
success may be gathered from the foregoing,
as well as from the fact that the Quaker dry
goods dealer has been a successful landlord
Not every dry goods man succeeds as hotel
keeper. The Palmer house was built to rent,
but so great was his need for income upon
its completion that he determined to manage
1t himself. For twelve years he has devoted
to the management of this house almost
daily attention. Nothing escapes his eye.
He is thoroughly familiar with all the de-
tails of its innumerable departments, keeping
almost as close wat h upon the vast caravan
sary, with its $50 rooms and 800 employees, as
the most Jealous country landlord is able to
give his humble inn. His hobby is repairs
Every day, and at most hours of every day,
he may be found giving directions to me
chanics-plumbers, carpenters, decorators,
painters-never trusting such work to subor-
dinates. His weak point is inability to re-
member faces. About two years ago he dis
charged his engineer for incompetency,
after finding something amiss in the CINE
room. A few hours afterward neatly
dressed man accosted him:
"Hear you want to hire an engineer"
eyes. Have you got good recommended
tionsF
The man had, and he was hired at salary
of $40 month more than the old engineer
was paid He proved a good man, too, and
for several days everything went along
nicely. Then Palmer made strange dis
covery. The new engineer was the old one,
whom the landlord had not recognized in his
store clothes" The man is still in charge
of the engine, and at the advanced salary,
too.
Potter Palmer lives in the finest house in
Chicago 1t is a castle, and stands on the
shore Of Lake Michigan, near Lincoln park.