Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-02-24

= nl!yYI' l!Y
doubtful whether Mr.. Corcoran had made any
bequestS, or at least any large bequests, OF
public character. When his fortune was divided
among his three grandchildren his principal heirs
and provision was made for his nephews, neces,
and other relatives, there would be little remain
ing for public beQuests. This was the view OF a
man who supposed that MIR. COrcorans Idea OF a
suitable provision for his grandchildren and other
own wealth and manner Of life. Mr.. Corcorans
property consists OF real estate in Washington and
landed interests in Illinois and other Western
states besides considerable personal property. He
is large stockholder In the Washington and
Georgetown Railroad Co., In the Washington Gas
light Co., and the Columbia Fire Insurance Co.
and has stock In other local business Institutions
THE ART SCHOOL PROJECT.
Mr. Corcoran had project that he fondly
cherished In connection with the Corcoran Gallery
OF Art, and it is said that he has made provision
for this In his will II he has made no other public
bequests. This is the establishment OF a school OF
art and design. About ten years ago he attempted
to purchase the vacant ground on 18th street ad-
Joining the Art Gallery with view TO erecting
suitable building or extending the present
structure 10 accommodate the art school.
His plans, however, were then defeated by the
refusal or the owner OF the ground to sell. 1t Is
believed that he has provided by will for carrying
out the plan, and It is said. has dedicated the
mansion in which he lives TO the purpose. This
house has attached to 1t ground that. once en-
braced nearly the whole square. Within recent
Side or the square have been sold and residences
have been erected on 1t. There Is still remaining
however, more than half a square OF ground in a
section OF the city where the price or ground Is
higher than In any ether residence quarter.
AN AUTOBIOGRAPHY.
Mr.. Corcoran, it Is said, wrote some years ago,
an autobiography, which was printed. The printed
copies have been carefully kept from the public,
to be distributed after the affairs of the estate are
settled.
Einancier and PhilanthrOpist.
The life OF Win. Wilson Corcoran which has
just closed stretches back to the end OF the last
century. II Spanned the whole period en-
braced by the history OF the capital city,
with which his name has been so closely and
cred1tably identified. His father Thomas CorcO-
ran, emgrated from Ireland in 17s3 and settled in
Georgetown in 1857. Thomas CorcOran became a
muca-respected citizen OF Georgetown. He was
chosen by his fellOw-townSmen at different times
as alderman and mayor, and served them also as
postmaster. He married bef ,re coming to George
TOWN. Hannah Lennon, an est1mable lady OF Bal
timOre County, Nd VIM. Wilson CorcOran was
born December "a, 1898, at Georgetown. He re-
ceived such education as the schools then es-
tablished in Georgetown afforded. When a
young boy he took position In a dry
goods store, and subsequently formed partnership
with his elder brother The little business enter
prise was wrecked, however, in 1924. by financial
disaster, and the firm suspended. The firm was
granted an honorable discharge by its creditors
who were principally Philadelphia merchants
Mr.. W. W. Corcoran, however, twenty-Ihree years
afterward, having then become a prosperous
banker paid in fun all the Indebtedness Of the old
Iirm with interest to date.
BEGINNING HIS BANKING CAREER
Mr. Corcorans excellent qualifications for busi-
ness attracted the notice Of Gen. John Mason,
president OF the Bank Of Georgetown, and after
the failure referred to Gen. Mason gave him a
place In his bank as clerk After three years there
Mr. COrcoran entered the service OF the branch
bank OF the United States then located opposite
the Treasury. His business there brought him into
contact with many officials OF the Government and
confidence When the Bank OF Georgetown sus-
pended Mr.. COrcoraD was commissioned by the
Government to dispose OF the real estate held by
the bank, and which, as the creditor OF the bank,
the United States was obliged to take In satisfac.
iOn OF It's claims. Mr.. COrcOran subsequently
opened modest banking and brokerage establish
ment, and In 1897 formed the banking house OF
C0rcOran Riggs, his partner, MI. Geo. w. Riggs,
Peing son OF Es1a Kgg tne partner o. Geo
his fine manners and appearance won the con-
fidence Of Elisha Riggs, who contributed capital
to the new banking concern.
HIS MARRIAGE.
In 1885, two years before this, Mr. Corcoran
married Louise Amory Norris, the daughter OF
Commodore Charles Morris. Lady OF marked per-
sonal charms and accomplishments. Mrs Corco-
ran died In ls40, at the age OF twenty-three leav
daughter, Louise. The daughter grew to woman
hood, and was married in 1850 to Hon. George
Eustis Of louisiana she died IN 1857, leaving
daughter Mr.. CorcOran erected and endowed the
Louise Home on Massachusetts, avenue. Though
death OF his beautiful wife, prosperity attended
Mr.. COrcOran's business ventures and he began q
70 40 vOr1h nuo os q
TAKING A GOVERNMENT LOAN.
In 1841, when the Government was embar-
rassed financially its income being insufficient for
its needs, Walter Forward, then Secretary OF the
Treasury, attempted to negotiate loan abroad,
through Daniel Webster, then secretary Of STATE
offered to take Government loan Of 5000, 900 At
lOl. This proposition was accepted. and the dar-
country, proved successful. II 1t had been other
wise, the whole capital OF the young nrm would
have been swept away ahe hssd dfFansaction more. more
to establish a credit at home and abroad that was
| never shaken In the most calamitous times. This
tune which Mr.. Corcoran acquired, and which he
has administered largely as though 1t were trust
placed In his hands for the benent OF his fellow-
men.
THE MEXICAN WAR LOAN.
Upon the outbreak OF the Mexican war In 1S46,
Robert j. Walker then Secretary Of the Treasury,
gave to Mr.. Corcoron the Government loans to ne
gotiate. Mr.. COrcoran went to London upon what
was believed by many to be hopeless mission.
Several states had repudiated their debts, and
American securities were generally regarded with
doubt and suspicion In European financial centerx
Mr.. Corcoran was warmly welcomed BY George
Peabody and the Bartngs, the great bankers OF
London. Mr.. CorcOranD manner and financial
knowledge gained the confidence OF these gentle
| men, and through them he was enabled to place q
| loan OF about SlO,OOO,0OO on the London MARKET
Upon his return from this audaci0us and patriotic
mission, which, BY reason Of Mr.. Corcorans tact,
skill and personal influence, resulted 90 success-
fully, he was rendered an ovation, and hailed a.
the fortress OF American credit Nj. CorcorAn
In Washington real estate. At the auction sale OF
the 90, 700 lots acquired by the Government n the
division Of the city landA Mr CorC0ran was largo
| purchaser. He bought also several farms about
the city, one OF which, known a. Trinidad, now =
! very valuable tract he gave few years ago 70