The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-08-21

THE CRoCKER ROMANCE.
How a CALIFORNIA; Newsboy Came To BE q
California Multi Millionaire.

San II raDClscO Special
The story of the life Of Charles Croker, the
California railroad king. who died on Tuesday
at Monterey, reads like a romance. He was
born In Troy, n. Y, in 1922. aud received but q
meaere education. The first money he ever
earned was by selling newspapers When four
teen years old the family removed to northern
Indiana. and in a few years his mother died aud
the boy left home. after a disagreement with
his father. to seek his fortune. All that ne had
were the clothes on his back.
After wandering about from place to place be
secured EMPLOYMENT at a saw-mill at mrsha-
waka. on the St. Joseph river. in Indiana. where
he fell in love with the daughter Of his employer.
The gold fever Of lS49 seized him, and he made
mp q party of young men who crossed the
plains for California. Mining not proving
remuperative enough he opened a
store in Sacramento with his brother and
then he went back to Indiana and married the
daughter of his old employer. Miss Deming. A
week later a fire swept away his Sacramento
store, involving q loss of sS0,000; but
he soon rebuilt 1t, and in the next half-dozeu
years accumulated a fortune of 5000, 900. He
drifted into politics, and in that way met Gov.
Stanford and Messrs. Huntington and Hopkins.
1t was in 1862 when these four men began the
work of building the Central Pacific railroad,
which eventually enabled them. through govern
ment subsidies. TO divide among them $50, 600, 900
in stock aud SIP, 600, 900 in bonds. The recent
report OF Governor Pattison, chairman OF the
United States Pacific Railway Commission,
Shows tn3t tQlS cOmUlDatlQ0 divided Sl4Z. UOU. OUU
In cash and securities. by reason of their connec-
ton with the Central Pacific and it's adjunct
corporations.
Within a year after the completion of the road
suits were brought against the management in
order to recover on stock of the road. Charges
were made against the directors that immense
sums of money had boen made but misapplied.
As Croker, Huntington. Stanford and Hopkins
were then anxious to float soma S25, 600. 900 of
bonds Of the Southern Pacific railroad thew were
anxious TO acquire the stock held by the parties
who instituted the suits. and it il in evidence
that they paid from $3.50 to 81 $50 a share for
this stock.
The capital stock Of the Central Pacific was
first placed at 50. 500. 900: then it was raised to
$50. 900, 0c0, and finally was showed up TO $780,
600, 900.
In 1871 Mr.. Crocker's only brother, E. b.. be-
came afflicted with softening of the brain. and.
as the doctor told Charles he would meet the
sarne fate If be did not retire from business, he
took a two-years' trip to Europe. Upon his re-
turn he again embarked in the railroad business.
and became deeply interested in everything that
his old associates had taken up.
Mr.. Croker had six children, but @ four
are living His wife survives him.
Good judges of real estate say to-day that the
estimate of Crockeris wealth at $40. 000, 900 or
$50. 000. 900 is too low. They put his fortune AZ
from $40. 900. 600 to $50. 600. 900. ranking him sec
ond only to Senator Stanford among Pacific
coast millionaires in wealth aud landed posses
sions. HIS share in the Central and Southern
Pacific railroads and the California and Oregon
is estimated at so. 000. 900. To this must be
added property In this city worth IS, 600. 900. and
land In Shasta, Sacramento. Santa Barbara,
MERGED and Kern counties valued at $40, 00O. 900.
Ia MERGED county he owned 80, 900 acres. valued
at Sle0 per acre, and he owned half the MERGED
canal. which cost 81. 500. 600.