The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-27
ANDREW JACKSON'S BREASTWORKS
How a Great Fortune Was Built Up Out of
BpGE VIZ the Cotton Used at New Orleans.

DpGs VIZ the Cotton Used at New Orleans.
New York Times.
do any of you know what became of the
cotton that General jackson used for breast
works at the battle of New Oreans?"
This inquiry was addressed by one of New
York's old merchants, the other evening, to
company of friends, not one of whom did know
where that famous cotton went
1T formed the foundation Of one of New
Yorks biggest fortunes" went on the mer
chant Thirty years or so ago one of the mill
ionaires of this town was Stephen Whitney;
millionaires were scarce then, but Mr.. Witney's
fortune was almost worthy of rank with that of
John Jacob Aston Whitney started out in life
without much money but had made some prog
ress when the war 1912 came He was conserv-
alive merchant, with a reputation for carefully
considering every enterprise that he entered
upon; and naturally, therefore. lots OF his
friends were astonished when, at the close of the
war; he hurried down to New Orleans and
bought the great piles of damaged cotton that
had stood between Jackson's soldiers and the
British bullets. The bulk of his fortune went
into the investment He bought every scrap of
it. There were few people cogniZant of this
action who did not believe that it would prove
disastrous, but Stephen Whitney put the doubt
ers quickly to rout. The tons and tons of cot
ton he paid the government cents pound for
we're soon upon the market OF Great Britain
and thanks to the effect OF long-continuec en-
barge, Melted him something like so cents upon
of merchant Whtneys fortune-a fortune that
figures still on New York's tax lists as ''the
Whitney estate" Investments in New York
real estate developed the fortune.
Mr. Whitney's old home, remaining vet practi-
caliy in the same condition, save for few minor
alterations, as it did in his lifetime, is down upon
Bowling Green at No. Z; and there isn't much
likelihood either that there will be any changes
in the old building for many years to come
Those houses on Bowling Green were built under
the provisions of an odd contract The rich old
New Workers who selected that as the choicest
spot on all the island for their homes agreed one
with another in a sort of perpetual contract that
the houses should be located after fashion that
should be Interchangeable except by the unani-
nous consent of every one the block The
fronts of the houses to be kept some thirty
or forty feet back from the street line and
upon the back were to have an alley or drive
way the common property of all, for communi-
cation with their stables These provisions car
ried out are yet lived up TO closely, for what
ever influences might be brought to bear upon
the owner Of any one of the Bowling Green
houses he could contract to make no change ex-
cept with the consent of each of his neighbors
This rule stands as bar to the building up of
that particular site. otherwise great Office build
ings would have risen there long ago. It is re-
lated that when the heir of Mr. Whitney to this
property came into its possession there was
feeling of dissatisfaction upon the heirs part 1t
wasn't altogether uujustfiabe dissatisfaction
either for then the old building was productive
practically of no income whatever beyond taxes,
insurance and the like; $40. 900 would have been
big estimate of its market value. but a quarter
of million dollars could not buy it now.