Savannah morning news. [volume] (Savannah) 1868-1887, 1886-07-01
California Milliouatres.


SANTA CLARA CAL, June I9.--Santa Clara
lies forty seven miles south of San Francisco.
and along the route lie those parks made
famous by Callf0rnia's dead and gone million
aires -Ralston. Latham, sharon and ParrOtt.
Poor princely Ralston, remember him in the
glory OF his days when the Bank of California
swaycd the coast with golden sceptre, and
the nod OF its President was the nod Of a Gar.
A hundred thousand year was his enter
tainment fund allowance from the bank-he
trebled 1t from his own riches, and rivaled the
prodlgals OF Rome. Grandees from Europe
were daZZled by the magnlhcence of his daily
bauuuets, and seeing the millions that ebbed
and flowed at his command cheerfuily in
trusted TO his discretion the investment of
their boards. No corner in stocks could force
the mar tet no avalanche in shares could de-
press it If the great bank said nay.
The King must have no goddess but the
State:
The state That's Richeleu"--
California had no goddess but that bank of
her good name, and that bank was Ralston.
remember yet how men laughed when it
was SAID that Flood and o. Brien. Mackay and
Fair, bore the bank no good will. The two
former were barkeepers suddenly enriched
through points given them by custOmers-the
two latter worked in the m mes in Nevada
and were scarcely known. Then came the
bonanza strike, in November. 1874. On Nov.
Is Clara Sharon was married and Ralston
was master Ofceremonles. Never did he look
brighter or happier. never was his star more
golden or asce dant. Two days later the Street
shook with the tumultu rise in Comstock Sc
curities. Consolidated Virgins and California
rose from 10 to 10 on the frst call; next day,
$50; next, $50; next, $40; at the end of the
week, 700. Ophr and Mexican follow ed suit.
Flood and O'Bren, Mackay and Fair, pos
sessng ~, 900, 600 between them, came out OF
the deal with 81 0 000. 900. san Francisco was
in an uproar. Solid millonaires of fort
night before were beggars now, and clerks
and servants nillionaires. A Chinaman who
had scraped together few hundreds ped
ding vegetables had bought the stock before
the rise, doubled at every tut II and held on 10
the last clearing twelve hundred thousand.
He had it cashed in silver and went back to
China, saying 10 his brokers: "Chinaman
catchee pl nty Mclean man dam foolee,
houpla Dl ker no catchee mean eNhl bitiOn
of hard Celestial sense which many equally as
fortunate should have emulated.
Men no longer laughed at Flood and
O'Bren, Mackay and Fair, but watched to
see the issue Of their grudge. A few months
went by Suddenly the lightning struck ana
stunned the city. The Bank of California
had failed and the waters OF the bay closed
over a suicde--Ralston How IL was done
nobody knew. Some said there was vast
corner in gold, some that the bank had loaned
freely on collapsing securities, some that 1t
h q launched it's treasures in speculation and
ia lied, but certainly the great doors were
c osed and ashes to ashes, dust to dust-the
most daring, exJravagant, ehrewd, generous,
farsee ng and reckless of all the western
kings was laid away In bankrupts grave.
Milton 5. Latham, senator, Governor, mill
Ii onAre, made one fortune-lost it-made an
other-piled mi lion upon million with start
ling rapidity-led society for decade of
years--lost all but q pittance in one gorgeous
crash and went to New York to die. sharon,
the mysterious, losing or making ten millions
in week, burrowing, burrowing, burrowing
incessantly. and generally emerging IN the
m ddle OF some careless neighbours pocket--a
little cadaverous, yellow haired man, like
an itinerant parson in bad repair, deadly
il eumity and draw poker, and only
noored once, and that by woman-John Par
rott, the blum and reliable-never specuiated,
gifted with awful deafness, which smote him
when a shaky customer wished to borrow and
relaxed when solid man came in To pay
rolling up millions by discounts and per cents.
and never caring how stocks rose or fell
these were the men who built their palaces
and laid out broad miles of roses and lawn at
San MateO aud Menlo park, and then passed
70 uncovoted rest and left them to the red dag
shd the hammer.