The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1888-03-02


WSfoL/%<% which he seems to
". ". COrc0ran. have slipped. His
body, barring his slight paralytic stroke, works
well when, years ago, he was one OF the
best horseback riders in the District Of Colum-
bia His digestion does not trouble him, and
he sleeps like plowboy- He has a remarkable
head. Large, fulI-featured and handsome, its
forehead is broad, high and intellectual. Its
nose is straight and the mouth firm, but pleas
ant. His jaw is as strong as that of Sam Ran
dali, but is more clean in its cut. and the lines
about it are more gentle. Mr.. Corcoran's mus
tache is of frosted silver, and his features
show all the signs of culture. He dresses in
exquisite taste and there is no better picture
of the fashionable gentleman OF to-day. His
clothes are of the finest material and the latest
cut, though there is nothing snObbish or strik-
zag about them, and his only ornament is the
SOral pin in his dark necktie."
SKETCH OF HIS LIFE.
Mr.. Corcoran was born in Georgetown. His
father was mayor of that village when Wash
,ngton had no existence. and Mr.. Corcoran held
among his valued possessions the house in
which he first saw the light and in his will he
expressed a desire that the old home be kept in
the family. He started business life very young,
having had a taste of classical education and
short term at the Georgetown College. At six
teen years of age, when his father had been ap-
pointed by President Madison postmaster of
fathers wishes, and went into the dry goods
store of his brothers. James and Thomas
COrcoran His ability became so ap-
parent that they established him two
years later in a store of his own, and he
succeeded well until the panic of 1923, when
on one day s28, 600 of his bills receivable went
to protest. The result was, he failed. He was
at this time twenty-five years of age, and he
compromised with some of his creditors at fifty
per cent, and from others received a discharge
in full, In 1S47, however, he had made a second
fortune, and he then computed the interest due
from himself and his brothers to each of these
! creditors, and adding this to the principal, he
paid the sum in full, which was then more
than double the original amount. From dry
goods he went to banking, first as an emplOye
and afterwards as partner, and for years the
firm Of Corcoran & Riggs stood high in
washington as that OF the Rothsch1lds in Lon
don. He took charge of the Mexican loans when
no one else would handle them. and placed part
of them in six of the wealthiest houses in Lon
don. He bought United s tates securities him
self and made fortune out OF their rise when
the New York bankers predicted that the
country was gong to ruin. One of his charac-
| teristics was to have an immediate answer to
/ any proposition, business or otherwise and of
! knowing his own mind and saying it. In 1884
| the firm of Corcoran g. Riggs was dissolved,
and at this time Mr.. Corcoran retired from act
i've business. During the last generation he
has only attended to his fortune, to the
cultivation Of his mind and to the disposi-
tion of his millions to charity.
He told friend one time: i'I have known
Rll the Presidents since Washington. was
! born, you knew, the year before Washington
| died, and saw Jefferson while he was in the
| White House. His business agent, Mr.. John
| Barnes, resided at Georgetown and President
| Jefferson often rode over to him. He sat
MS fiery horse well, and he would galIop up
! the street and throw the bride over the post
! In front of the store. I afterwards visited him
/ at Monticello and became somewhat &C
/ quainted with his great ability. saw John
1 Adams at his home in Quincy, Mass remem-
Der he was lying the lounge when I
came IN. He gave me his hand and, during my
| chat with him. found his mind bright and
| clear. He referred to his old age and pointing
| TO his weakened body, sand: My physical
| house is out of order, and the landlord has
/ warned me that he will make no further re-
| pairs President Madison knew well during
| his presidency, and have visited him at Mont
1 peher. Dolly Madison and myself were ac-
| Quainted for years, and John Quincy Adams did
| his banking business with me. AS for such
| young men as Polk, Pierce and Buchanan, Of
| course knew them and during the tour took
| through Europe in 1855, President Fillmore was
| with me-
! years of his life once owned by Daniel
| Webster. It was bought for the statesman by
| his Boston friends when he was Secretary of
| State. When Webster left the Cabinet he
found that he could not afford to keep up so
| expensive an establishment, and Mr.. Corcoran
| became its owner He also became Daniel
| Webster's banker; and Webster went to Cor
| coran whenever he was in need of money. AS
| he grew older his debts became greater and
| one day, after he had made his extraordinary
| speech on the Missouri Compromise in the Sen
| ate, Mr.. Webster received package Of papers
| from Mr.. CorcOran containing the cancel
alton of all his Indebtedness to him.
1 The CorcOran mansion is grander
now than it when Webster dined
and wined the diplomats within it. Wings
have been added to it, and it has been so
741,.4
home of some French nObleman, and it is one
of the most beautiful private houses in the
United States. Facing Lafayette Square, it is
just opposite the White House, and its mate
rial is of red pressed brick and brown stone.
An iron fence, tipped with gold, incIoses its
front yard and its walled gardens comprise
nearly block OF the most valuable ground at
the capital. Though possessing intensely aris-
tocratic IDEAS Mr.. Corcoran was proud of
one unaristocratic bit of property-the bench
on which his father cobbled shoes in George
town
He was lavish giver, and is chiefly known
to the world through his benefactions. Some
idea may be gathered of the vast sums of
money which he expended in public benefac-
tions by these figures: He gave to Wash
ington and the world the Columbia University,
Oak Hill Cemetery TO the Columbia Uni
versity he gave an endowment fund Of 100000,
and to the medical college in connection with
| ii. $4,000. To the Ascension Church he gave
noted Corcoran Art Gallery building, which
faces the tremendous pile OF the State, WaI
and Navy buildings. opposite it and next to tha
White House, was begun in 1859 and
completed in 1871. The gallery was
opened in 1874 The cost of the building
and property was S25O.0O0; the cost Of Mr.. Cor
coran' S pictures and statuary 100000, and the
endowment fund was s919,O1), total of s., ,25O.-
| OJO. The buildings and grounds OF the Louise
Home cost 100000 The endowment fund was
e25OO00, making a total Of $4,000 The build
ing was put up 1871. The total Of these bene-
factions is as follows;
Art Gallery 80, ,0OC
/ 1oulse Home G.-.- ssss.-.s-..-. 49oiU0e
! Columbia University. .-.+--...s....---. l4OsuO1
/ Ascension Church-. oJsV1e
| OAK Hill Cemetery. ...s.... fS,UJl
Total 81 os5. .0OC
The fund for the support Of the Louise Home
IS the income derived from the rental Of the
Arlington hotel, which built and dedicated
to the support OF the Home.
bIr. Corcoran married a daughter Of COnmo
dore Morris, Q. s. n, in opposition 70 the Com
modore's wishes. Louise was the oAly child
born Of this union. She married Mr.. E1stis, o.
Louisiana, then in Congress, and oied Of con
sumption in 1870. leaving two sons and daugh
ser. Her father founded In commemoration o
her one OF the most peculiar charitable institu.
tions ia the world-the Louise Home. His SYN