New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-25
SKETCH OF HIS CAREER.

William Wilson Corcoran, the Peabody Of Wash
ington, was born in Georgetown, ID. c., December
81 79S, and had therefore reached the great
age of eighty nine. The of Corcoran is an old
one in Ireland, from which country his father came
to America in 7e3.and it has been borne with dis
tinction by bishop of the Roman Catholic Church
in this generation. Georgetown was then a pros
porous port, with harbor full of shipping, instead
of being the sleepy Southern village it is to-day,
and Thomas Corcoran moved there after living
four years in Baltimore. This was in 1891 tho
year the Constitutional Convention met in Phila-
delphia, and Thomas was young vidower, twenty
three years of age. lie became in time one of the
most prominent and influential citizens Of the
place, and no one better known for deeds Of
philanthropy lis son may be said therefore, 10
have inherited tendency to benevoence. An incl
dent Is related Of the fatherw which may or may not
be altogether correct lie had been a shocmakerand
one evening at a fashionable gathering in WASH
ington he heard noted lady say in tone evil
IDENTIFY meant for his ear " Do you smell shoe
makers wax ?" Some years afterward he had be-
come Mayor of Georgetown, and issued invtations
to a grand ball, which was the talk of the place.
The lady referred to carefully omitted from The
list Of invited guests There was fierce struggle
in her bosom, but pride of one sort gave way be-
fore pride of another. She sent and pleaded for
friend who knew the story told you she Shouii
smell shoemakers wax
HIS SUCCESS Az A FINANCIER.
William went into the drygoods business 10
Georgetown at nineteen years OF age. lie sue
ceeded SO well that in few years he erected
large warehouse and went into partnership with
his brother Tuomas, in the auction and commis-
sion business But in 1923, at twenty-five years
of age, he failed. The debts Of the firm were COM
promised on basis satisfactory to the creditors,
but Mr. Carcoran's honesty was Of too stern
character to be satisfied with such a settlement
Twenty years AFTER in SAB, each of the creditors,
or his representative, received check which nlade
the whole debt good to him with twenty years
interest. One of them a leading merchant of
Philadelphia, was moved by this most credtate
action TO say that in long commercial expcrienoN
involving many millions Of dollars he had ne'ef
known parallel case
Mr. Corcoran's business talent and social tact
soon brought him into relations with the Govern
ment in which he was able to render marked ser
vice to the country at the same time
that he carved out great fortune
for himself From S2s to s36 he had the man.
agement of the real estate of the Bank OF tho
United States in Washington and the Bank OF
Columbia in Georgetown, and subsequently he en-
gagged in the banking and exchange business in
Washington In ls41 he was made agent of the
State Department in its financial transactions
abroad Mr.. Webster then Secretary Of
State and thus began the intimacy between tho
two which continued unbroken until the great
orators death in s52. in ls42 the Governments
was seriously embarrassed for the want of money,
which il could not borrow abroad because the re-
pudiaton OF their debts by number of the States
had DESTROYED American credit There were many
foreign holders of the State bondsit has probably
not been forgotten that Sidney Smith held some
Pennsylvania stock-and wi.h the memory Of their
losses still fresh in their minds II seemed useless
to attempt loan. Mr. Corcoran who was form
ing banking partnership with George w. Riggs.
proposed that they should take the Governments
loan proposals for which had been called ior. The
loan was awarded to them. and was disposed OF at
handsome profit This made great reputation
for the new firm besides. They bought the old
square building of the United States Bank at the
corner OF Fifteenth-st and Pennsy lvania-ave.
which is one Of the landmarks OF washington ana
continues to be the banking house of Riggs q 20.
to this day. The operations of the firm after this
date were Oh Large scale aud wsrt