Telegram-herald., 1889-09-30

paired and thousands Of humble people
placed their little savings in that bank
because they deemed it good as the
government"
Ralston's country house at Belmont, in
the Santa Clara valley, was palace in
rural paradise. Every foreigner Of dis
tinction and every eastern man OF note
who visited San Francisco was enter
tanned there. During the season when
such visitors were most expected Mr..
Ralston had a coach and six horses daily
at his bank TO drive his guests TO Bel
mont. Its decorations and grounds were
celebrated IN all the journals; the hospi-
tality dispensed there was truly described
as "kingly." Its owner was a leader in
most of the great enterprises on the
coast, and was considered one Of the
shrewdest and most reliable financiers in
the country. One August day in 1915 a
rumor Goated through san Francisco that
all the mining enterprises of Ralston,
Sharon and others had proved failures,
that the funds of the bank had been too
heavily drawn on, and that RalstOn was
going out. His friends rushed TO him for
an explanation, and ne said with smile
Il am tired out and must breathe the
free air awhile. Let those two wild cats
shoulder the load now"
He referred TO Sharon and Mills. The
next day, Aug. 27, 1915, Ralston drove
10 the beach for his daily swim On the
way he greeted all the acquaintances he
met with his usual gayety, and to his
servant he said:
you must drive home quickly when
come out will be cold
He dived, swam far out into the bay,
turned, waved his hands gayly to few
friends on shore. and sank to rise no
more. William Sharon, soon to be noted
as the absentee United States senator,
at once assumed the right TO speak for
the bank, and his statement was in these
words:
"Ralston has embczzled the entire
capital of the California bank lie has
ruined every one in the business" Near
ly 1000 men and women, who had
mourned the death OF Ralston and many
Of whom had followed him to the grave,
were next day mourning for themselves.
lamentinC the loss Of their all. It was
at once concluded that the banker had
committed suicide At this stage d. O.
Mills. father-in-law Of Whitelaw Reid.
came forward and, according 10 the pop
ular impression at the time. saved tho
tank from utter ruin. 4 few thousands
were saved for the family, Of the two
t -r.t sr.
inE speculauons and samuel devoted
/ himself with great success 70 mechanical
engineering aud improved methods Of
mining.
Samuel Ralston said that when he was
q small boy his father had told him to
master mechanical engineering. Tie
elder Rais.oa stated at that time that
were he an engineer he should 60 to
7 Siberia and open up mining there that
would astounl the civilized world At
F that time he secured promise from Sam
f that he would become an e--inecr and
f do what De could tocarry out lis father
+ idea. When Sans father was drowned
f the youth took his own head. and tbe
fame of the great Coriiss engine at tie
i Centennial exposition had attracted hls
f attention. He sought the noted ereine
+ builder ani carried ont thar part e the
/ plan successfully.
Nh-e in the eastern cities sam -7eni
+ money lavishlv aai was 3 great farorite
VIII Che ladies' He spent a small fort
unc in sooial dissipation and prosecuting u-
his schemes. and then went to gs if1r1 a
a1d ven another competence. which BE
invested in siberia TIE exact history
~ lis eighteen months fh-re IS r-
s-vn. The FIRST account published v a.
tsss he snd has party were escorted to
tne frontier tr the Russian Authorities
ard forhlilen 81 ever re-rrr ana fre
explanation assigned VS. THAI Gee lads
.cnnvst- ~ Wasrir ztc~ who hsi 50
~ure'3 Che -cr-ess en- ~ Ser Influence
+ over q Russian z rion-s- rsi sftsrTvsr
deserted frr Mrsror'ta ard he bad m
re~r~-s irtr-- tte r7-reg
/ governments permits Another story IS
that sam Rs.st-n was ir~s e5 1to
partnership with a R1s-ar nrr erasn
wnc proved t0 ne rr'irrr ~ a. .e~
srd e, involved BIS f-o0 is IN his rrs0
The resr't was th-f Ssr- rat-rret =
California a Ian srrrt a-t e-cssn heart
sd. AMI n T1ue cE 1855 too< bis 3Tn llls