The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1889-03-07
MILLIONAIRE QUARTET.
LIFE OF J.. e. FLOOD, WHO DIED
RECENTLY IN EUROPE.

=
His Millions-JOhn W.. Macke,
and James G. Fair the Survivor
OF the Quartet.
The death of j. c. Flood, the >Califor
MIA and Nevada millionaire, last week, a
the Grand hotel, Heidelberg, Germany
gives occasion to publish the history O
one of the most remarkable millionaire,
of the age.
James Clair Flood was born in New
York City on October 25, 1896. Hi
parents were in anything but afflue Mt cir
cumstances, and his father followed the
trade Of wheelwright. Young Flood
received practical education in the com.
mon schools which fitted him for any
ordinery business pursuit. The family
moved to Fort Hamilton, N. Y, and he
entered the wheelwright shop of his father
to learn the trade. Those who knew him
at an early age speak of him as having
been very bright and industrious boy,
possessed of considerable ambition. His
life was uneventful, however, until he
struck out for himself. In 1849, at
tracted by the glowing accounts of the
discovery of gold in California, Flood be-
came one of the pioneers.
He was then % years of age. He en-
barked on the ship Elizabeth Ellen,
which sailed around Cape Horn, and ar
rived during the memorable year. lie
had very little money when he landed,
but was stout of frame, had strong,
sangulne temperament, and was pos
sessed of great determination. He did
not loiter about the town, but left for the
mines. He began work on the Yuba
river with ROCKER" but met with
moderate success He succeeded, how
ever, in getting together about 5000.
With this money he returned to New
York in the fall of 1851 with the inten-
lion of settling down there in some busi-
ness. His capital proved to be to small,
and he wisely concluded to return to
California and try again. This step
marked the decisive turn in his fortune.
Mr.. Flood has often remarked to his
intimate friends that had he gone back
% New York with $4,000 he would never
nave returned, and might, in all probillty,
IN his return to San Francisco he en-
,aged in several pursuits, which were
profitable. He opened res
aurant on Washington street, near Pike
treet, which he conducted for quite a
lme. In 1856 he entered into partner
hip with the late William s. O'Brien in
he retail liquor business. This was the
oundation of the great firm of Flood &
)'Brien, which afterward occupied such
leading place in the mining financial
history of the world. The firm opened
he famous Auction Lunch saloon on
Washington street, between Montgomery
nd Sansome, and bad much of the trade |
+ the people in the Washington Market
nd IN the neighbering part of the city.
t was while in this business that Flood
nd O'Brien became acquainted with all
he prominent mining men and stock |
rokers at this city, and this acquain-
ance led to the foundation of their i'm
1ense fortunes.
Very fortunate investments. were made
y them in the Comstock mines. In 1862
hey made large profits from their pur-
bases in the Kentuck, Crown Point and |
,elcher. The first really great winning,
owever, was made when together with
edward Barron they gained control of
be Hale & Norcross mine. They made
nlly 100000 by this operation.
The Auction Lunch and the liquor
usiness were gwen up. The firm of
'lood and O'Brien took an Office over
'arrott's Bank, on the northwest corner
Montgomery and Sacramento streets,
nd confined their attention exclusively
D mining and dealing in securities. In
867 a copartnership was formed with J:
'. Mackay and James G. Fair, and tho
amous bonanza quartet of Flood,
''Brien, Maokay and Fair was thus or
anized. The firm succeeded in getting
ontrol of that section of the Comstock
,dge now occupied by the Consolidated
california and Virginia mine, and out of
his ground the Consolidated Virginia
nd California mining companies took
yer sl5O,OOOOO0 in gold and silver, most
{ the profits of which went into the cof-
srs of the bonanza firm. They organ
ed milling, water, timber and other SUD-
ly monopolies, which vastly increased
aeir wealth. William S. O'Brlen died
lay 2 1878, leaving an estate valued at
from which fair idea of the
ealth of his partners at that time may
q cleaned. The next important epoch
Mr.. Floods life was the organization
the Nevada Bank. On October4, 1876,
lis bank opened for business with
.pital of S., ,OOO, 900, which was afterward
cresed to s1O,O00,OOO. On the death of
:. S. O,Brlen the capital was reducted
$3,OOO,0OO. In 1881 James C.
lood became the President Of the
evada Bank and George L. Brander