St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-10
"A FLETX-IalElEONAIRE.
His Name is George Smith, and He
Hates to Pay Taxes.
Chicago Mail.

Chicago Mail.
There was tall and exceedingly grace
full looking man of about 45 years in the
party of directors of the st. Paul which
recently went over that road He was
Peter Geddes, director in the St. Paul
and Chicago, Burlington and Quincy rail-
roads; splendid man Of bust
ness, the almost absolute controller
OF vast sum of money, clever
as a talker, elegant in manners,
an all-around man of the world: but famous
not IN his own right, but as the agent of
| George Smith. Peter Geddes has S36. OOO.-
600 of his chiefs money in two of the
granger rcads-the st. Paul and Chicago.
Burlington and Quincy. He has $50, OOO.-
600 Of his chiefs money invested on this
side tie water. Whenever Peter Geddes
goes to the other side OF the water and
meets old George Smith the two chuckle
| over the TACT that not penny for taxes
is paid to the United States
or any other government ON all that
$50, 600, 600. Smiths is one of the big
| secreted fortunes of the world. The public
has had no knowledge of it, yet his wealth
is so great that not a hundred men in the
world, probably not fifty, rank in money
strength above him. He made his fortune
here at Chicago. How many knew that?
|
| ular lists of millionaireS? Yet the books
of the st. Paul and the Burlington rail-
roads show that he owns $40, 600, 900 bonds
and stock of the former and SIG. 900. 600
bonds; and stock of the latter. Smith began
| banking on Clark street in 1855 with So OOO
| He IS now u years old and bachelor. 1t
| is said that he even lives at London club
| instead of at house of his own, so as to
| avoid taxes. Peter Geddes was a clerk in
! the Clark street bank. Afterward he be-
came its manager. He is not voter.
either Like his chief, he doesn't want any
citizenship. At New York now Re has
big office and a score of bookkeepers.
They are all busy taking care of George
Smiths fortune. They have plenty to do,
too.
Most men who were in Chicago in the
early war days know very well what
George Smiths bank notes were, and re-
member how they were priced above the
other ''Stumptal." Fernando Jones tells
how he stood in Smiths bank when a
prominent furniture man of that day came
III with note for renewal. Old
George Smith looked at 1t and re-
fused to renew it. The customer afterward
told Mr.. Jones that he skirmished
around forty-eight hours and got the
money and paid the note. AS he was leay-
ing the bank George Smith, as unconcerned
as if he didn't know that the fellow had
been breaking his back to raise money.
said, ''By the by, Mr.. -, couldn't you
use little money in your business?" Old
George Smith wanted the paper in his
bank paid when it came due. Each trans
action with him was new one. He
wanted no renewals, wouldn't have any,
thing to do with extensions
Allan Pinkerton, now dead and gone, was
farmer until somebody. inspired by the
credit of George Smiths bank notes. was
led into counterfeiting them. Allan Pink
erton sat at work ferreting out the criminal.
He was successful, and, backed by the rich
Scotchman, started his new business of de-
tecting crime. He made himself as every-
body knows, rich, and won reputation as
the cleverest catcher of crooked people in
the world.
Alexander Mitchell represented George
Smith at Milwaukee. AT first the former
went to Milwaukee to help get out Smiths
notes, which, when he came here, were re-
garded with suspicion, A great many
farmers brought grain into Milwaukee.
At one time a good many more traded
there than at Chicago. Mitchell used to
go up from here with the money in small
satchel, and to bring back receipts
for graz in. The business finally grew
very large. The bank established by George
Smith as the wisconsin Fire and Marine
Insurance Company's Bank" numbering
title, which became Smiths bank" in the
mouths of everybody, is now ''Mitchelps
bank" the richest in the West l suppose
that every other institution in this country
might break and Yet Mitchelps bank
be sound. 1t is MitchelPs; and
Mitchell is worth $40, 900, 900. Smith
and Mitchell, although both Scotch,
although both made their money
together. although both were partners, and
although both for years lived and slept to-
gether over their bank, were very unlike each
other. Smith was miser with his money.
Mitchell has always been very liberal and
broad. When the younger man married his
handsome wife and the elder decided to
leave business and go back to the other side
of the water. they had an accounting.
There were millions of dollars of stocks and
bonds and cash to divide. 1t was all done
and there was such shaking of hands and
congratulations as naturally would follow
on such an occasion. Smith stopped and
said, thoughtfully: ''By the by, Aleck.
there are the bedclothes upstairs So
Mitchell, who had never thought of the
old quilts which they had both slept under
in the room above the bank, inyentoried
them at So, and put them down and
divided them. That was characteristic of
George Smith, who to-day has $50. GOO :
900 invested in this country, $50. OOO. Oor
in two great Western roads, and who does
not pay penny taxes.
When man says: ST feel like q fab
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