Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1889-09-21

MI. a y gorgeous style Of
W living. Conf
WILLIAM c. RALsroN. dence was unim-
paired and thousands Of humble people
placed their little savings in that bank
because they deemed It "good as tho
government"
Ralston's country house at Belmont, In
the Santa Clara valley, was palace In a
rural paradise. Every foreigner of dis.
tinction and every eastern man OF noto
who visited San Francisco was enter
tanned there. During tho season when
such visitors were most expected Mr..
Ralston had coach and six horses daily
at his bank to drive his guests TO Bel.
mont. Its decorations and grounds were
celebrated in all tho journals; the hospi.
tality dispensed there was truly described
as "kingly." Its owner was leader In
most OF tho great enterprises ON tho
coast, and was considered ono Of tho
shrcwdest and most reliable flnancicrs In
tho country. One August day In 1875
rumor hoatcd through San Francisco that
all tho mining enterprises Of Ralston,
Sharon and others had proved failures,
that the funds Of tho bank had been too
heavily drawn on, and that Ralston was
going out. His friends rushed TO him for
an explanation, and no said with smile:
~ am tired out and must breathe tho
free air awhile. Let those two wild cats
shoulder the load now"
He referred to Sharon and Mills. Tho
next day, Aug. 81, 1875, Ralston drove
to the beach for his daily swim. On tho
way he greeted all the acquaintance no
met with his usual gayety, and to his
servant he said:
"You must drive home quickly when
come out-I will be cold"
Iie dived, swan 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:
"Italston has embczzlcd tho entire
capital of the California bank. lie has
ruined every one in the business" Near.
mourned the death Of Ralston and many
Of whom had followed him 10 the grave,
were next day mourning for themselves.
lamenting the loss Of their all. IL was
ut once concluded that the banker had
committed suicide. At this stage d. o.
Mills, fathcr.in-law Of Whitelaw Reid,
came forward and, according to tho pop
an.., S.In, ',,,on ,,,". -. '"' 'ao, sa'eu .no
D"A ,'onn "s "''. e" s"ouSi''S
49, ,~.,,, W" , VI ."o wv
so"'' "n..i " ~, ensaHe' ~ INN,
"s ep"'' az" oan'"o' ucSo'eu
N,'. , ~ /.
" "
,, '" a' ,"'' VIZ" no was
Shhai' poy n'S 'a''ier ''au '",a MN 10
ina "'er mechanical engineering. The
elder RaLston stated ut that time that
were he an engineer he should so to
Siberia and open up mining shere that
would astound the civilized world. A.
that time he secured promise from Sam
that he would become AN engineer and
do what he could to carry out his fathers
idea. When Sans father was drowned
the youth took his own head, and the
fame OF the great Corliss engine at the
Centennial exposition had attracted his
attention. lie sought the noted engine
builder and carried out that part OF the
plan successfully.
While in the eastern cities Sam spent
money lavishly and was great favorite
with tho ladies. He spent small fort
une in social dissipation and prosecuting
his schemes, and then went to California
and won another competence, which no
invested in Siberia. The exact history
of his cAhteen months there is not
known. The first account published was
that he and his party were escorted to
the frontier by the Russian authorities
and forbidden to ever return; and the
explan nation assigned was that the slady
LOBBYIST OF washington, who had se-
cured tho concession by her influence
over q Russian diplomat. had afterwards
deserted her Muscovite, and he had in