New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-13
OBITUARY.
NICHOLAS LCNING.

san Francisco. Aug l. tspccial.-Nicholas LuninG
p prominent millionaire Of Francisco. who devoted
hi, long lie solely to money getting, died suddenly OF
hear, disease late last night at the Palace Hotel lie
had been to the theatre but half an hour after his
return he was dead. His fortune is estimated at
sI5.OOOOOO
Mr.. Luning was born in Hamburg. and came here
early I'm 1850 with a few thousands I'm ready cash
lie never went TO the mines, but hung around sam
bling saloons and lent money TO any one who had
collateral at enormous rates OF interest lie would
take anything As security. from diamond pin To
revolver watch or ring. Early san Francisco mer-
chants made all payments on days when the Panama
steamer, left 80 that sicamcrdy has been from That
time 10 the present. collection day I'm all branches 81
business II imperative for the pioneer ner hant
TO have cash to pay hi, Eastern conNgncr~. or el''
III, would he dropped from their books. 80 Luning
came 10 be known a, a st"aInrrday sharp that
is he wa, on the wharf with money which h loaned
for A. hlsh a, ten per cent month or 40 monthly
for every 300 loaned with interest deducted IN ad
vance for three months.
Everything that he accumulated he put into real
estate or into mortgage, city property, much OF
which fell into his hands for small part OF lis value
because he never failed foreclosure At the earliest legal
limit To Harry" Mclcgs he loaned large sums. and
when Ncigz, sailed away u south America. S73OOO
Of Luning'- cash went with him.
fornla when Eal.toa's death broke H. with d. ..
MN, and other, h. came 70 The rescue Of the BANK
ND hy Tar the largest amount Of coin ana collateral
and making his rescue ~ great moueNcd institution
one Of the most unsclish acts of the financial history
of the Pacific Coast. 81. Indeed, of the country:
luniuc continued hold SEQ shares IN Tho bank until
hi~ dca'h ~, real estate was scattered all over ny
city, and all ~ II was productive ana WoUH sen II
alc ton for double or treble what i cost ,,,...,.
some years before HI, death Thomas H. BYthS
began borrowing money of luning. and AZ his dean
had got into the attcr's death S37Jooo one OF thc
most amusing pieces Of evidence in the famous Byhc
Will case Wa, that Of II Bythes associates. VINO
dcclared Blythe would 10 into house ana De'9ulS
sick when he Luulug walking by BN the DOCS
Market and critically inspecting II. a th"uSn
he hoped one day 10 be it,, owner The loan was nearly
maturcd when Blythe died. hut IN" administrators S"t
4 law passed allowing him "a tanSfcr ms loan ana
thus Of the most valuable bits OF real estate ~
the city, valued AZ 3iOOO.ooo. escaped L'NH.
clutches. LuEiug was Sccrc'iyc mat not t'ea ~
ntmatcs knew the extent OF his fortune. but tnC
bulk OF Il Is In gilt edge securities here ahd IN ul'
East. The old millionaire for twenty years. had !
habit 81 inspecting If, property every wecN' ana ne
arranged nj, walks T. take II all In N,ter2t'iiW .
To his constant pedestrian exercise was due NJ mn
health. lie left VIII. bequoathne all his property
t. three daughters and two sons. one son, John II.
Lining. lives IN New York lie left not cent 70
charity for any public purpose.