The Russellville Democrat., 1888-03-01

! ~ TASeVfffS/Sst1-- Oh perpetual fouthf
| W,-Is<~ which he seems to
". W. 0orcoraa. have slipped His
body, barring his slight paralytic stroke, works
as welsas 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 remarkable
head. Large. fullfeatnred 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 1t 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 fashional lie gentleman of to-day. His
clothes are OF the finest material and the latest
| cut though there is nothing snobbish or strilS-
| ing about them, and his only ornament is the
coral pin in his dark necktie."
SKETCH or ms 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 taste OF classical education and
! short term at the Georgetown College At six
| teen years of age when his father had been APP
| 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 1923, when
| on one day $4,000 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 tifty
| per cent, and from others received discharge
| in full, In lS47, 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 Il 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 apart
| of them in six of the wealthiest houses in Lon
| don. He bought United States 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-
! terstics was to have an immediate answer to
/ any proposition, business or otherwise, and OF
/ knowing his own mind and saying IL. In 1854
the firm of Corcoran s. 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 own fortune, to the
| cultivation OF his mind and to this disposi-
/ tion of his millions to charity.
/ He told a friend one time: 81 have known
all the Presidents since Washington. I 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 see him. He sat
/ his fiery horse we'll and he would gallop up
! no S4r arat 10 hrf1 ovp he
| in front OF the store. / afterwards visited him
! at Monticello and became somewhat ac-
| quainted with his great ability. / saw John
| Adams at his home in Quincy, Mass. remem-
| Der he was lying the lounge when
| 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 SAID; My physical
house is out Of order, and the landlord has
| warned me that he Will make no further re-
| pairs Pres dent Madison 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. CorcoraR oe upied for the last
| years of his life was once owned by Daniel
! Webster 1t 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
1 aHvsfn
alton OF all his Indebtedness to him.
| The Corcoran mansion is grander
| now than il was when Webster dined
and wned the diplomats within it, Wings
| have been added TO IT, and il has been so
| changed that II appears more like the country
home OF some French u1bleman, and it is one
| OF the most beautiful private houses in the
/ United States Facing Lafayette Square tits
| 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 It's walled gardens comprise
nearly "A block Of the most valuable ground at
| the capital, Though possessing intensely aris-
/ toeratic ideas, MIR Corcoran was proud OF
one unaristocratic bit of property the bench
| on which his father cobbled shoes In George
| town.
| He was lavish giyer and is chiefly known
| to the world through his benefactions Some
idea may be gathered OF the vast sums OF
| tions by these figures He gave 70 Wash
| ington and the world the Columbia University
/ the Ascension Church ana the Art Gallery and
/ Oak Hlll Cemetery. TO the Columbia Uni
yersity he gave an endowment fund OF $4,000
| and to the medical college in connection with
| it, $4,000 To the Ascension Church he gave
| $4,000, ana 20 Oak Hin Cemetery $4,000, The
| noted Corcoran Art Gallery building, which
| faces the tremendous pile OF the State, War
| and Navy buildings, opposite Il and next 10 the
i White House, was begun In 1853 and
| completed in 1871. The gallery was
| opened In 1874 The cost Of the building
/ ana property was $4,000; the cost OF Mr., Cor.
coran's pictures and statuary 100000, and the
endowment fund was S9)l0Jl, total OF 81 251.-
/ 90 The buildings and grounds OF the Louise
| Home cost 8300090, The endowment fund was
| $3.50, 600 making total OF $4,000 The build
! ing was put up 1874 The total OF these bene-
factions is as follows.
/ Art Gallery s....,....... $4,000
4 Louise f0ne. ..t..+ .s.s..ss,s+fst' t1fvJY
Columbia University ..,............ts.. 10000
Ascension Church III. ............. ....,. 5000
1 Oak tllil Cemetery. .*...............+.,. 1000
Total ,.,..,................... eisGs, 600
| The fund for the support OF the Louise Home
1 Is the income derived from the rental Of the
/ Arlington Hotel, which was built and dedicated
I TO the support OF the Home
Mr. Corcoran married daughter OF Commo
| dore Morris, 4. s NJ in opposition 70 the Com
moo0re's wishes Louise was the only child
! born of this union. Sss married Mr.. E9stss, Of
Louisiana, ulen Ia Congress- ana dicd 0f con,
sumption ln 1870 leavns TWO sons and dangh
tor Her father founded IN commemoraton OF
her one o. the most peculiar charitable nstitu-