Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1888-03-01

W.
body, barring his slight paralytic stroke, works
as well when, years ago, he was of the
best horseback riders in the District of Colum
bia His digestion does not trouble him, and
he sleeps like plowboy. He has remarkable
head. Large, full-featured and handsome, it's
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 of the finest material and the latest
cut, though there is nothing snobbish or stril-
ing about them, and his only ornament is the
coral pin in his dark necktie.f
SKETCH OF HIS LIFE.
Mr.. Corcoran was born in Georgetown His
father was mayor of that village when Wash
ington had no existence, and Mr.. Corcoran held
among his valued possessions the house in
which he first the light, and in his will he
expressed desire that the old home be kept in
the family. He started business life very young,
having had d taste of classical education and a
short term at the Georgetown College. At six
teen years Of age, when his father had been ap-
pointed by President Madison postmaster of
Georgetown, he left school, contrary to his
fathers wishes, and went into the dry goods
store of his brothers. James and Thomas
Corcoran. His ability became so APP
parent that they established him two
years later in store of his own, and he
succeeded well until the panic of 1929, when
on one day s2s, 900 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 1871, however he had made 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 s. Riggs ST" Cd as high in
Washington, as that of the Rothschilds 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 States securities him
self and made a 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 1854
the firm of Corcoran & Riggs dissolved,
and at this time Mr.. Corcoran retired from act
i've business. During the last generation he
has only attended to his own fortune, to the
cultivation of his mind and to the dispos-
ton of his millions to charity.
He told friend one time: ST have known
all the Presidents since Washington was
born, you knew. the year before Washington
died, and saw Jefferson while he in the
White House. Ills business agent, Mr.. John
Barnes, resided at Georgetown, and President
Jefferson often rode over to see him. He sat
his fiery horse well, and he would gallop up
the street and throw the bride over the post
in front of the store. I afterwards visited him
at Monticello and became somewhat ac-
quainted with his great ability. 1 saw John
Al home OuincV 7
her ne was lying on the lounge when I
came Ec 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, sad: My physical
house is out of order, and the landlord has
warned me that he will make further re-
pairs President Madison I knew well during
his presidency, and have visited him at Mont
pelier. 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-
The house Mr.. Corcoran occupied for the last
years of his life was 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
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 q package of papers
from Mr.. Corcoran containing the cancel
alton of all his Indebtedness to him.
The Corcoran mansion is grander
than it was when Webster dined
and wined the diplomats within it. Wings
have been added to it, and it has been SO
changed that it appears more like the country
home of some French nobleman. and it is one
of the most beautiful private houses in the
United States. Facing Lafayette Square, iii
just opposite the White House, and its mate
rial is of red pressed brick and brown stone.
An iron fence, tipped with gold, incloses its
front yard. and its walled gardens comprise
nearly a block of the most valuable ground at
the capital. Though possessing intensely aris-
tocratic ideas, Mr.. Corcoran was proud of
one unaristocratic bit of propertyAthe bench
which his father cobbled shoes in George
town.
He was a 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
tons by these figures: He gave to Wash
ington and the world the Columbia University,
the Ascension Church and the Art Gallery and
Oak Hill Cemetery. To the Columbia Uni
versity he gave an endowment fund of 100000,
and to the medical college in connection with
it. $4,000. To the Ascension Church he gave
$50, 600, and to Oak Hill cemetery SIS 00o. The
noted Corcoran Art Gallery building, which
faces the tremendous pile of the State, War
end Navy buildings, opposite it and next to the
White House, was begun in 1889 and
completed in 1871. The gallery was
opened in 1874. The cost Of the building
and property was 100000 the cost of Mr.. Cor
coran's pictures and statuary 100000, and the
endowment fund was 800 JQtl. q total of 81 p
0j0. The buildings and grounds OF the Louise
Home cost 500, 900 The endowment fund was
s250,o00. making total of s45o,o09. The build
ing was put up 1871. The total OF these bene-
factions is as follows:
Art tzaIIery Si,so9,Uu5
Lorisc Home ..,..,..... 45a.0On
Columbia University. .............. 10000
Ascension Church ---..-.--........ 5i.g0
Oak Hill Cemetery. 1900
The fund for the support of the Louise Home
is the income derived from the rental of the
Arlington Hotel, which was built and dedicated
to the support of the Home.
Mr.. Corcoran married "a daughter of &C mnio-
dore Morris, q. S. NJ, in opposition to the Com
modore's wishes. Louise was the only child
born of this union. She married Mr.. Eustis, of
Louisiana, then in Congress- and died of con-
sumption in 1870, leaving two sons and a daugh-
ter. Her father founded in commemorat:on of
her one of the most peculiar charitable institu-
lions in the world-the Louise Home. His SYM
pathies were with the Secessionists and with
the old aristocratic and slave holding regime.