Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-08

the lands belonging to the estate. some
men took uptown lots in Duluth with this
asset scrip. paving therefor S45, which same
lots have since sold for SIC. 900 cash. Others
made fortunes in New York City lots. many
a man laid the foundation for future wealth.
by buyinr up at ruinous prices the assets Oh
the estate, which the poorer creditors were
obliged to sell.
ALL WEALTHY AGAIN.
Itisa curious circumstance that all the
active men in the firm, although beggareo
by the failure, have since recovered lnelr
wealth and business standing. Pitt Cooke
and Henry d. Cooke, the latter of whom haa
charge of the Washington house. are ootn
dead. William G. Moorhead, OF the fhlla-
delphia house, made no effort to resume
business, but has picked up compe'ence
through opportunities afforded MIN, anu no"
lives in retirement. Ex-Secretary OF Ine
Treasury Hugh McCulloch, OF the LONDON
house of jaw Cooke, McCulloch & Co., lives
in MARYLAND in comfort and plenty.
For two or three years after the failure
Mr.. Cooke assisted the trustees in stralghten-
ing out the accounts of the hrm. A man
whom he had once befriended in his Gays OF
affluence then interested him ID the morn
Silver mine in Utah, Mr.. Cooke visited the
mine, and, seeing its great value, secured
an option on one-halt of 1t Tor y, oUo'o.V'
He organized company to take TINS option
and succeeded In placing enough STOCK 70
give him an interest for nothing. Ine mine
proved very valuable, and In the followlng
seven wears he received in dividends between
500, 600 and $500, 900. With this money he
bought back his home, the Island Gibraltar
in Lake Erie.
Mr.. Cooke still retained his faith in Du-
luth and purchased at q very low price
about 1000 acres of land back OF the city,
on both sides of the river st. Louis. Thls
he intended to develop by utilizing the
abundant water power, but deferred execut-
ing his purpose and within the last go days
he has sold out the entire property for sum
approximating s., 100000. He is the prin-
cipal owner OF the Gettysburg and Harris
burg Railroad, which he proposes to extend
to Washington, owns the South Mountain
Iron property in this State, and has sundry
other investments. His present fortune is
estimated at about $3, 600, 600.
THE PARTNERS.
Hqrris C. Fahnestock and James A. Gar
land were the principal partners In the New
York house. They continued their relations
with Wall street and finally secured an in
terest in the First National Bank. The
bank has been wonderfully successful, and
its stock is now quoted at s., 900 for 500
shares. Messrs. Fahnestock and Garland
own very large interests in the bank and
are both independently wealthy.
George c. Thomas was the executive part
ner in the Philadelphia house, attending to
the practical business. After rendering all
the assistance in his power to the trustees he
engaged after time in the banking and
brokerage business with Joseph M. Shoe
maker one OF Mr.. Cookies heads of depart
ments. The firm prospered, but q few years
later Mr., Thomas was offered and accepted
a partnership in the firm of Drexel b Co..
of Philadelphia. He is the executive part
ner in the house and enjoys the unique dis
tinction of having managed the two largest
banking firms that ever existed on this con-
tlnent
jay Cooke, Jr., was member of the old
firm for only short time before the failure.
A year or two after the crash he formed 6
partnership with Charles d. Barney, under
| the firm name of Charles d. Barney & Co.
which has ever since been one OF the most
prominent banking firms in Philadelphia.
The building where the firm carried on it
gigantic financial operations has become 9
shop. The wall of that part of the room
where Mr.. Cooke had his private Office and
where be conceived plans involving million,
is now covered by an immense blackboard
upon which the changing quotations are
| displayed before a band of impecunious
men and boys who buy or sell five or ten
shares of stock at time. The place still
retains, however, something of the popular
! ity it once enjoyed, for it is the largest and
| most prosperous bucket shop in Philadel-
| phia. y. .. a.