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

WGIt NRudh6lo duu
,orr,n the lad was raised
in habits of frugal
ity and industry. At IS he became clerk
in the store of Platt Adams, which
stood in the village of Durham, Greene
county, within the shadow of the Cats
kills Shortly afterward he started a
dry goods store of his own at Oneida, and
year later removed to Loekport He was
successful from the beginning, and though
Lockport was a thriving town, the young
Quaker soon found his ambition superior to
his opportunity. He cast about for more
promising location, and while upon a pros
pecting tour spent one day in Chicago. This
was then a.straggling town of 10000 people,
but the keen eye of the dry goods merchant
perceived the signs of coming greatness, and
that one day decided him He at once sold
his store in Lockport and came to Chicago
with capital of less than $1,000. That, was
in 1852, and the first year his sales were
$4,000, He was almost an ideal merchanto of
the old school; was first to arrive at his
store in the morning, the last to leave at
night careful alik> Of his credit and that of
his customers, watchful of the pennies and
polite to the ladies. With all of
his Quaker prudence he was bold
when boldness was required, and this
quality of courageous action, following the
resolve born of keen perception, was ulti-
mately found to be the secret of his great
success. The war was his opportunity, and
he was not slow in improving it He be-
lieved that values were soon to become
greatly inflated, and, risking his fortune
upon the correctness of his Judgment, he
filed all the warehouses he could rent with
cotton and wooden goods, purchased imme-
diately after Sumter was fired upon. His
courage was amply rewarded. In four
years he made $2,50O,00O, and when, in 1865,
he concluded to retire from business, he held
more than $2,20O000 in government bonds
Satisfied with what he had, he abandoned his
position as the merchant prince of interior
America. In thirteen years the sales of his
house, now wholesale as well as retail, had
grown from $4,000 to $7,000,000 a year
making it the largest dry goods establish
ment, with two exceptions, on this continent.
A bachelor of 40, the possessor of good
health and $3,0O0,O00 or $1,000, 900, Mr.. Pal
merretired to what he hoped would be a life
of ease AT Saratoga he SOON acquired repu
tation as dashing man of the world. Nc
turnout was finer than his, no man more
liberal with money than he, no fiift more des
perate than the Quaker dry goods prince from
the wild west. During one gay season he was
the lion of the Springs and at him were SHED
innumerable feminine caps. Queer stories
are told Of those holiday prailks of late din
neis,a Of Idashing rides behind fours-in- hand,
accompanied by one or more beauties of the
hour, OF rivulets of champagne and gold
galore Doubtless some of them have come
down to us by evolution out of ameIe proto-
plasinic germ of truth; but, be that as it may,
Chicago society was, startled when it heard
in 1870, that the belle of the town, the daugh
ter of a then most prominent and wealthy
citizen, FL H. Honore, was to wed the blase
Potter Palmer. With all his millions, s'they"
of Society declared the high-priced beauty
was throwing herself away in marrying
man twice her age. "They, however, were
for once mistaken, for no more happy and
devoted and apparently well mated couple
can be found in Chicago to this day
But Palmer did not devote himself entirely
to pleasure. At the close of the war Chicago
had no retail street of pretensions State
street, save two blocks, was a narrow lane,
between rows of shanties. Single-handed and
alone, Potter Palmer set out to make this
alley theiprincipal thoroughfare Of the grow
ing city, Removed with characteristic bold
ness, In. less than six months he bought three
quarters of a mile Of frontage; he bought old
buildings, moved them back so as to make
the street 100 feet wide, or built new ones on
the new line. He coaxed some property
holders and frightened others; and at last
after four years of work and expenditure, he
succeeded in having State street made 100
feet wide. Almost as if by magic the new
street became metropolitan in appearance.
Palmer himself erected a dozen fine build
ings, including the first Palmer house, and a
store building, whose marble front alone cost
more than 100000, and which was, upon its
completion, the finest building in the world
devoted to trade. In October, 1871, the new
Palmer house was begun, and State street
was then, what it has since remainsd, the
leading thoroughfare of Chicago
To Potter Palmer the great fire cane as
crushing calamity Ninety-five of his build
ings were destroyed. A rent roll of Sl92, 600
year was reduced to nothing. His total loss
of income was 1920, 600, and the income re-
manning was not sufficient by $1,000 TO- pay
the taxes alone. The prospect was so dreary
that for day Palmer hesitated Only year
married, and about beginning a series of
travels, his dreams of ease and bliss were thus
suddenly dispelled. He was tempted to with
draw the remnant of his fortune and leave to
others the work of rebuilding the city While
thus hesitating he went to his wife, whose
sister is Mrs. Fred Grant. To her he described
his perplexity. What" he asked, 'shall we
dor
"Mr. Palmer" replied the wife, sit is the
duty of every Chicagoan to stay here
and devote his fortune and his energies to re-
h,,ildinr tbic Sfricken city
This decision gave to Chicago her palace
hotel and score of palatial business blocks.
From that moment Potter Palmers energies
were devoted to the work Of resurrection.
Upon the ruins Of a dozen buildings AN army
Of worilmen were soon busy clearing away
rubbish Train loads Of building material
came rushing IL % his order Foundations
were renewed or rebuilt. For the first time in