Great Falls tribune., 1889-09-28

WILLIAM Q. RALsToN. dence was unim-
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
tained there. During the 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 the journals; the hospi
tality dispensed there was truly described
as "kingly." Its owner wasa 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 1875
rumor foated 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 he said with smile:
81 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. 81, 1875, Ralston drove
to the beach for his daily swim. Onthe
way he greeted all the acquaintance 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, 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:
''Ralston has embezzled the entire
capital of the California bank. He has
ruined every one in the business" Near
ly 1900 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,
lamenting the loss of their ALL 1t 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 to the pop
ular impression at the time, saved the
bank from utter ruin. A few thousands
were saved for the family; of the two
sons, William G., Jr., engaged in min
ing speculations and Samuel devoted
himself with great success to mechanical
engineering and improved methods Of
mining.
Samuel Ralston said that when he was
a small boy his father had told him to
master mechanical engineering. The
elder Ralston stated at that time that
were lie an engineer he should go to
Siberia and open up mining there that
would astound the civilized world. A,
that time he secured a promise from Sam
that he would become an engineer anC
do what he could to carry out his father'E
idea. When Sans father was drowned
the youth took his own head, and tn.
fame of the great Corliss engine at tn,
Centennial exposition had attracted hi
attention. He sought the noted engin,
builder and carried out that part of th'
plan successfully.
While in the eastern cities Sam spen
money lavishly and was a great favorit
with the ladies. He spent small fort
une in social dissipation and prosecuting
his schemes, and then went to Californi
and won another competence, which b
invested in Siberia. The exact histor,