The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-01-25
INCOMES oFNBwYoRKLAwYxRs.
Nemoers OF the Bar Who Find a Hard
Struggle for Existence.
From the Philadelphia Press

struggle for Existence.
From the Philadelphia Press.
NEW YORK, JAN l9-In the issue Of the
FTeSs of Saturday, report Of the amount
of the estate and yearly earnings of the late
Lewis c. Cassidy was printed, and was read
with great interest by two or Uhree Nav
York lawyers, whose practice is consistent
with their great ability, to whom the Press
correspondent showed the article. The
amount received by Mr.. Cassidy for ME
practice during a single year seemed 70
surprise each Of these lawyers, for. althoneh
the distinguished advocate and counselor
had repute in this city which was most
enViable, yet it was not thought that his
earnings could reach the sum of $4,000 a
year. 1t puts Mr.. Cassidy in the yerv
h1gheSt rank OF those who make great sums
by practice at the bar.
There are, am told, 5000 LAWYERS in
New York city, and Of the number less
than twenty can show any such figures as
the results OF a years prac ice. The vast
majority OF them earn beggarly sums.
There are clerks and salesman who earn far
more than many lawyers here do.
Like the wealth of men known to be rich
the income OF lawyers here who are of
great repute is greatly over-estimated. The
stories OF the largest fees and sple add earn
fngs OF Roscoe Conkling were exaggera-
tions. He was said to have earned in ona
year as much as 100000, and his practice
IN the first year Of his connection with the
New York city bar was declared by one of
ms most trustworthy and intimate friends
20 have been $40, 900. Yet in his life of
Conkling, his nephew asserts that his in
come at times was precisely what Mr..
Cassidy's is said to have been, and il is a
fair inference to suppose that at no time
was it greater.
Mr.. CLEVELAND'S FIRM
Some Of the legal firms in New York do
make, as firms, much more. The firm of
which Senator Evarts is the head is be-
lieved TO take in S250,000 to $500. 600 a wear.
but there are five partners, and great
throng of lawyers and clerks employed by
the firm, so that the individual share of the
partners is not greater than the sum Mr.. Cas-
sidy earned. The firm with which Mr.. Cleve-
land IS associated as special counsel does a
very large business, and pays or guarantees
the ex-preSdent an income reputed to be
$4,000 year. If he hives upon his income
from this connection ne must receive pretty
nearly that, for he is living in the social
swim, where to live entails the expenditure
of at least So. 900 year.
Dan Dougherty, who had such repute. at
least as an orator in Philadelphia, makes
Roadway slowly here. II he had practice
IN Philadelphia that his reputation here
justified he made mistake pecuniarily, at
his age, in coming to New York HoWsver
he is now associated in the the amusing, and
yet uncanny breach Of promise case, brought
by Miss Cammerer Of Philadelphia against
senile and silly old Lothario here. for
breach OF promise, and, as the case is fully
reported, and attracts more incidental at
tentlon on account of the connection of Col
Bob Ingersoll as well as Doughsrtv, with
it as counsel, the silver-tongued and white
haired loaf Tor IF r,a foc
cock was ''the superb" may get some
advertising that will help him. His political
connection with Tammany will serve him,
aud it is the intention of that organization
to send him to congress if he will 20.
Perhaps the larges5 receipts enjoyed by
any law firm here were those of the firm
which the late S. L. NJ Barlow created
But much Of their income was derived from
mortgage loan business, more strictly
allied to conveyancing than to the practice
of the law.
THE VERY RICH AND THE NOT so RICH.
One gentleman with whom talked about
Mr.. Cassidy's career made some assertions
of interest about our men of wealth. This
gentleman is not a practicing lawyer, but is
engaged in business enterprises of magni-
tude. Said he:
"The tendency is to overestimate the
wealth of most men here reputed to be very
rich, but there is another tendency not so
conspicuous, and that is the disposition to
underestimate the riches Of some Of the
very rich men. l suppose, in regard to
men engaged in active business, the proper
way to estimate their wealth is as they do
in England-by their permanent incomes.
There they say man has so many thou
sands pounds year. Here we say that a
man Is worth so much money. Now,
man who is up to his ears in business never
can tell how much he is worth. His
property might, if closed out at O
forced sale, fetch many thousand dol
lars less than it would if he con-
tinued to handle it. l have seen in
the papers certain men set down for million
aires. whom | have every reason to know,
If they died and their incomes stopped,
would leave an estate which would not
yield S250,000 The millionaires in this city
are fewer, proportionately, in number-I
mean the single millionnirss-than are the
hundred millionaires. The richest men we
have in New York possess more wealth
than they are given credit for. l
saw some time ago a statement that
John d. Rockefeller OF the Standard Oil
Company, was the richest man in America,
and probably in the world, and have seen
within day or two statement which
makes estimates Of Rockfeller'S wealth at
$90,O00,0O0 The first assertion Is nearer
correct than the last. There are several
men in New York who possess more than
100000. Both of the Vanderbilts have
property. most of which is in clean cut,
gilt-edge securities, placed in immense
vaults in their safe deposit companies
which will yield considerably over 9O,0OO,-
600 if turned into cash.
think Jay Gould's wealth is underestt-
mated and that he has to-day nearer $780,
100000 than the $6O,0O0.00 with which he
is credited The income from his property
and from the Vanderbilts is an enormous
sum of money aad goes on compounding at
aprodigious rate. But none OF them has an
income that will compare with john ID.
Rockefellers, and the property of no man
in this country, and thlnk no where in the
world, shows such steady and enormous ac-
cretions of wealth as his