Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1886-02-25
POVERTY AMIDST RICHES.

The Boston IfdCeler prints remarkable
story about James Henry Paine, grand
son of Robert Treat Paine, one of the sign
ers of the Declaration of independence.
There died in New York City some two
weeks ago, in squalor and abject wretched-
ness, a man who, up to some thirty years
ago, was we'll known in Boston in Journals
tic circles as musical critic of more than
average ability and financial reporter Of
uncommon keenness. On the street he>Was
known as the most miserly, INSCRIPTIONS
and graSping of usurious money lenders.
His name was James Henry Paine. He
was born in Boston in 1912, and was edu-
Gated in the public schools, and in 1929 he
began business for himself and soon became
musical and financial reporter for the Post,
and some years later was employed by the
Traveller as it's financial reporter. He in
herited quite property from his fathers
estate and began his business OF loaning
money on the streets at high rates of inter-
est. His habits, even at this time, were
miserly in the extreme, and his personal
appearance was repulsive because of his
slovenly dress and person. He gained on
the street an unenviable nOtoriety for his
practice of loaning money on stocks and
then bearingth stocks through the columns
of the paper on which he was employed.
This naturally led to his loss of employment
as financial writer, and his personal habits
became more disgusting, while his greed
for money increased.
In the latter part of 1854, owing to ques-
tionable financial transaction, Boston be-
came too hot for him and he departed for
New York. His only baggage was an old
wooden, hair covered trunk, into which he
packed all his earthly possessions. His
brother, the late Robt. Treat Paine, fire.
quently said that he had no doubt his broth
er James carried away in that old trap of a
trunk not less than S2OO,0O0 or $500, 900 in
good securities, mostly bonds. He was
next accidentally met in New York by the
executor of an estate which he had de-
frauded. He was arrested and taken to the
TOmbs, where, after some parleying, Payne
promised, if he might be released, to make
good the amount of the stocks and other
property which belonged to the estate.
The executor went with him to large
brown stone front house on Fifth avenue,
where they were admitted without ques-
tion, and on entering finely furnished
room Paine asked man they found there
to bring him his bonds. The man complied
and brought a large quantity of bonds
which Paine piled on table and counted
out to the executor fifty-siX one thousand
dollar bonds without making any percepti-
BILE diminunition of the pile. He contin-
ued to be heard from, now and then, about
New York. He finally became so ragged
and filthy that he was arrested as vagrant
and sent to the Island. Some acquaintance,
who knew of his musical ability, raised a
purse of some $50, secured his release, and
procured him a presentable suit of clothes.
Subsequently it was known that he hired a
room in Canal street, to which no one was
admitted. He grew so Wretched and sank
so low that he was seen on the street hold
ing his hat, begging for pennies to purchase
food
After his miserable death, on searching
the rags which covered his person, some
5000 or $500 were found secreted in them,
and this was all. And here arises the ques-
ton, what had become of his stocks, bonds
and wealth? His brother, Robert Treat
Paine, believed that he was worth from ST.
600, to S2,OOO,OOO. 1t is certainly known
that he owned large amount of property.
He was large owner in the Chicago Land
Company. Checks in payment of divi-
dends were sent to him in New York, and
though it was never easy to find him these
checks were always promptly acknowledged
and came back to Chicago properly endors-
ed by him in token that he received the
money.