Savannah morning news. [volume] (Savannah) 1868-1887, 1886-10-28
A SPECULATIVE PATRIOT.
A Fortune Out of Andrew Jack
sons Cotton Breastwork.
From the Neao York TYne

From the N61o York Tl,aes.
''Do any of you know what became of
the cotton that Gen. jackson used for
breastworks at the battle of New Or
leans?"
This inquiry was addressed by one OF
New YOrk's old merchants the other even.
ing to a company of friends, not one OF
whom did know where that famous cot
ton went.
sit formed the foundation or one of New
York's biggest fortunes" went on the
merchant. Eighty years or so ago one
of the milliOnaires OF this town was Ste
phen Whitney; millIOnaires were scarce
then, but MIR. Whitney's fortune was al
most worthy of rank with that of John
Jacob AstOr. Whitney started out in lie
without much money, but had made some
progress when the war of 1872 came. He
was a conservative merchant, with a re-
putation for carefully considering every
enterprise that he entered upon, ana nat
urally, therefore, lots of his friends were
astonished when, at the close of the war,
he hurried down to New Orleans and
bought the great pile of damaged cotton
that had stood between Jackson's SOL
diers nd the British bullets. The bulk Of
his fortune went into the investment. Fie
bought every scrap of il. There were few
people cognIzant of this action who did
not believe that it would prove disastrous,
but Stephen " hitney put the doubt
ers quickly TO reut. The tons on tons OF
cotton he paid the government > cents a
pound for were soon upon the market of
Great Britain, aud, thanks to the effect
of long-cOntinued embargo, netted MIN
omething like 80 cents upon every pound.
There was the great corner stone OF mer-
chant Whitney's tortune-a fortune that
figures still on New York's tax lists
as 1.-THE Whitney's estate" Investments
in New York real estate developed the
fortune.
Mr.. Whitney's old home, remaining yet
practically in the same condition, save
for few minor alterations, as II did in his
lifetime, is down upon Bow ling Green at
No. Z, and there isn'C much Likelihood
either that there Will be- any changes in
the ola building for many years to come.
Those houses on Bowling Green were
built under the provisions Of an old con-
tract. the rich old New Workers who Sc
lected that as the choicest spot on all the
island Tor their homes agreed one with
another in sort OF perpetual contract th at
the house should he located after fashion
that should be interchangeable except by
the unanimous consent of every one on the
block. The fronts OF the houses were TO
be kept some 30 to 40 feet back from the
street line, and upon the back were to
have an alley or driveway, the common
property of all, for communication with
their stables. The provisions. carried
out, are yet lived up TO closely, for what
ever influences might be brought to bear
upon the owner OF any one OF the Bowl
ing Green houses he could contract TO
make no change except with the consent
OF each Of his neighbors. This rule stands
as a bar to the building up OF that particu-
lar site, otherwise great office buildings
would nave risen there long ago. lis re-
lated that when the heir OF Mr.. Whitney
TO this property came into its possession
there was feeling of dissatisfaction
upon the neir's part. 1t wasn't altogether
unjustifable dissatisfaction either, for
then the old building was productive
practically Of no income whatever be-
You'd taxes, insurance, and the like; $780,
600 would have been a big estimate Of its
market value, but quarter OF a million
dollars could not buy 1t now.