Daily independent. [volume] (Elko, Nev.) 188?-1915, 1889-05-28
WHEN FORTUNES COME.
A. Statement That Wealth in America Is
Acquired by Men of Forty.

One Of the brightest young mon in public
life said TO New York Sun man the other
day that he was going to make his ever
testing fortune some day when he grew
tired of politics. "But there is plenty of
time Tor that" said he. 'T"Do you know that
it IS almost q rule in this country that men
do not III AXE their fortunes until they are
forty years old or older? The grand excep-
tion to tho rule is Jay Gould, but the con-
temporary fortunes were nearly all made
when their founders wcre at or beyond
middle age. Commodore Vanderbilt, John
Jacob Astor, A. T. Stewart, and all the
others prove what say"
The reporter to whom this was said
turned over the pages of tho biographies
and other works of reference at his hand,
and found enough in them to warrant the
assertion that at least 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
older.y men; but in the lower house of Con-
gress we see millionaires who look scarce
ly old enough for the rule.
Alexander r. Ste wart came here in 1929
. from Ireland, where ho was born in 1903
He opened a little linen store on Broadway.
and gathered wealth very slowly at tirst, as
most other men had done. He was prudent
n heavy importer; but he was forty fyt
years old when lie became able to put mp the
first of the two great stores in which he
aftcrward transacted mis- business.
Henry CleWS Is an example. lie spent
his carly manhood as clerk, and when the
war broke ont and found him g broker in q
small way -ho began to make money. He
and his partner, Mr.. LivermOfc, who retired
, at the close of the war with half q million.
-. 4
laid the basis of the wealth which G. cws
demonstrated the rule by making his way
over again, as Henry Willard has done.
Henry Willard is about ifty-tive years old.
He came hero from Germany at twenty
! yeIrs 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-
! fessiou. He was forty-one years old when,
! III 1874, no began the great Oregon railway
! operation that made him wealthy. Nine
years later, when the famous go den spike
! was driven through Northern Pacific rail
{ road sleeper he was worth $4,000, 900. 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 a 1inancler.
! Warner Miller is fifty years old. Be-
ginning in the hUmblcSt way, no managed
to organize mill company, and worked siX-
teen hours q day for ten years to make his
fortune. He was past forty when his bank
accounts showed him that he could afford 10
take the world more easily. He is q
- millionaire now. Levi P. Morton is about
siXty-three years old. Twenty-Five years
ago, when he was thirty-eiEht or thirty
nine, he founded his banking house, He
was fifty.onc when his wealth enabled him
to devote 81 part Of his time to public life.
His great stroke was made when he
established his London house in 1868, and
soon afterward went into tue syndicate for
funding the United States debt. He was
past forty three thon. Charles Crocker was
past forty when he hogan to he q millionaire.
Edward F. Jones, the rich scale maker and
LicutenantGovcrnor Of this State, was
born in 1898. He began his business career
at the close of the war, and was long past
forty when he became rich. Henry p.
Courtney, the marble millionaire, now dead,
started with fifty dollars in 1858, when
thirty-three years old. He was beyond
middle life when he got his pile. ...
John B. Slawson, the car-fare box in
ventor, was twenty-five years old when he
went to New Orleans in 1910 from this
r State. There he slowly made his way up
ward. But for tho war he would have
pushed his invention at forty six years or
age, but he had 10 wait and he was past fifty
when his big money began to pour in. his
friend Stephenson, the horse car builder,
also millionaire, had TO wait for middle
age to get great riches. So did the eldcl
Bennett, Of the Herald so did Hon. OSWALD
Ottendorfer, and so did the lato Marshall o.
Roberts. .....
Jay Gould's early life was failure, bu
this phase of it was very short. Ho wa:
born in 1881, and went Into specializing !,
railroad stock in 1850, when he was only
twenty-cight years old. Ho was very sue
cessfui, and made use of tho war, when i
broke out, To give large returns on small o
shrewd specuiations. His fortieth yea
found him, in his present opinion, onl.
starting in life, but the world abroad,
knew MIN as n master money maker, for III
had been moro than three years prcs,acn
OF the Eric railroad, and his associate, Flax
had started America with its sharo cf th
partnership. ...-..--.-...-...- .-....--