Evening capital journal. (Salem, Or.) 1888-1893, 1889-04-06
WHEN FORTUNES COME.
A Statement That Wealth in America Is
Acquired by Men of Forty.


Acquired by Men of Forty.
One of the brightest young men in public
life said to a New York Sun man the other
day that he was going to make his ever
lasting fortune some day when he grew
tired of politics. "But there is plenty of
time for that said he "Do you know that
it IS almost a rule in this country that men
do not make their fortunes until they are
forty years old or older! The grand excep-
tiOn to the rule is Jay Gould, but the con-
temporary fortunes were nearly all made
when their founders were at or beyond
middle age. Commodore Vanderbilt, John
Jacob Astor A. 7. Stewart, and all the
others prove what 1 say"
The reporter to whom this was said
turned over the pages of the biographies
and other works of reference at his hand,
and found enough in them to warrant the
assertion that at least a great many rich
Americans have been beyond forty years
Of age when they have accrued riches. Ger
tainly the richest body. of men in the land
the United States Senate, is composed of
elderly men; but in the lower house of Con-
gress we see millonaires who look scarce
ly old enough for the rule.
Alexander I. Ste wart came here in 1923
from ireland, where he was born in 1903.
He opened little linen store on Broadway,
and gathered wealth very slowly at first, as
most other men had done. He was prudent,
shrewd and original, and gradually became
a heavy importer; but he was forty-five
years old when he became able to put up the
first of the two great stores in which he
.afterward transacted his business.
Henry Clews is an example. He spent
his early manhood as a clerk, and when the
war broke out and found him a broker in
small way he began to make money He
and his partner, Mr. Livermore, who retired
lat the close of the war with half a million,
.jobbed in certificates of indebtedness, and
laid the basis Of the wealth which Clews
afterward accrued, He failed but further
demonstrated the rule by making his way
over again, as Henry Willard has done.
Henry Willard is about ifty.tive years old.
He came here from Germany at twenty
years of age, and sold subscription books at
first, then became an irregular writer for
the press. He studied law later, but gave
that up and adopted journalism as his pro
fession. He was forty-one years old when,
in 1874, he began the great Oregon railway
operation that made him wealthy. Nine
years later, when the famous golden spike
was driven through a Northern Pacific rail
road sleeper he was worth s., 600, 000 He
Impoverished himself in trying to maintain
the value of his property, and went under.
Next, at more than fifty years of age, he
rose again as fnancier.
Warner Miller is fifty years old Be
ginning in the humblest way, he managed
TO organize mill company, and worked six
teen hours a day for ten years to make his
fortune. He was past forty when his bank
accounts showed him that he could afford to
oil To l.
millionaire now. Levi P. Morton is about
sixty-three years old. Twenty-Five years
ago, when he was thirty-eight or thirty
nine, he founded his banking house. He
was fifty-one when his wealth enabled him
10 devote a part Of his time to public life.
His great stroke was made when he
his London house in 1868, and
loon afterward went into the syndicate for
lunding the United States debt. He was
)ast forty-three then. Charles Croclzer was
'ast forty when he began to be a millionaire.
Edward f. Jones, the rich scale maker and
ACKNOWLEDGEMENT of this State, was
)orn in 1928, He began his business career
II the close of the war, and was long past
ortv when he became rich. Henry B.
courtney, the marble millionaire, now dead,
tarted with fifty dollars in 1858, when
hirty-three years old. He was beyond
niddle life when he got his pile.
John B. Slawson, the car-fare box in
rentor, was twenty-five years old when he
vent to New Orleans in 1910 from this
ytate. There he slowly made his way up
yard. But for the war he would have
pushed hls invention at forty six years of !
.ge, but he had to wait, and he was past fifty
Vhen his big money began to pour in. His
riend Stephenson, the horse car builder,
llso a millionaire, had to wait for middle
lge to get great riches. So did the elder |
Bennett, of the Herald, so did Hon. Oswald |
Dtteudo.fer, and so did the late Marshall o.
Roberts.
Jay Gould's early life was a failure, but
his phase of it was very short He was
porn in 81, and went into specializing in
'ailroad stock in 1859, when he was only !
wenty-eight years old. He was very sue
,essful, and made use of the war, when it |
broke out, to give large returns on small or
Ihrewd speculations His fortieth year
ound him, in his present opinion, only |
itarting in life, but the world already !
rnew him as master money maker, for he
lad been more than three years president |
II the Erie railroad, and his associate, Fisk, |
lad startled America with his share Of the
Samuel j. Tilden made his first consider |
bile money as lawyer, but he was more
han forty years old before he put other
SEPARATIONS aside for the time and began
hat devotion to his profession which was
suickly distinguished by his connection
Vith the greatest law causes Of the day.
BE was forty-one when, in 1855, he was
defeated as a candidate for Attorney-Gen-
sral of the State. After that came his
Ereatest legal triumphs, and after them his
till greater financial operations.
The Standard Oil fortunes nearly all
orove the rule. Mr.. Rogers made his share
IF that pile while younger than forty years
,ld, but Messrs. Rockefeller, Starbuck and |
were beyond that age when they
grew rich. In Philadelphia, George w. |
Childs is probably an exception. He Is only |
,ixty years old, and has been rich more
.han twenty years; but John Wanamaker
only began the making Of his fortune in
ls76. when he was thirty-eight He was
bearer fifty than forty when he became real /
N rich.
Augustin Daily is fifty two years old. He |
WAS thirty-four when he began his brave |
vrritn fba dramatic pOmDaUV that ]