St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-15

Cnelr cldln the following:
Northern Pacific railroad preferred
stock. ACKNOWLEDGEMENTS ~ shares
Oregon Steam Navigation company
stock. 49,. ............ .....3l2 shares
St. Paul & Duluth railroad common
Some of the holders sold out their
stocks right away at very low figures,
while others held on. In 1879 the as
sets in this first dividend were worth
$1,000 per $1,000 claim. In October,
1878, another dividend was declared, in
November, 1872 another, and in March,
1881. fourth. The fifth will be made
after the coming sale, and may reach
per cent in cash. The creditors will
then have received S157.50 in cash, 81
shares of Northern Pacific preferred
stock, 81 shares of Oregon Steam Navi-
cation stock, % of a share of St Paul &
Duluth railroad preferred stock, 24
shares of st. Paul & Duluth railroad
common stock and $50 of asset scrip.
This asset scrip was receivable by the
trustees at par in payment for any OF
the lands belonging to the estate. Some
men took uptown lots in Duluth with
this asset scrip, paying therefor S45.
which same lots have since sold for
$4,000 cash. Others made fortunes in
New York City lots. Many man laid
the foundation for future wealth by
buying up at ruinouS prices the assets
OF the estate, which the poorer creditors
were obliged to sell.
ALL WEALTHY AGAIN.
1t is q curious circumstance that all
the active men in the firm, although
beggared by the failure, have since re
covered their wealth aud business
standing. Pitt Cooke and Henry u.
Cooke, the latter of whom had charge of
the Washington house, are both dead.
William G. MoOrhead, of the Phila-
delphia house, made no effort to re-
sumo business, but has picked up a
competence through opportunities at
forded him, and now lives in retirement.
Culloeh, of the London house of JAY
Cooke, McCuloch Il Co., lives in Mary
land in comfort and plenty. y
For two or three years after the fail
Wre Mr., Cooke assisted the trustees in
STRENGTHENING out the accounts of the
firm, A man whom he had once be-
friended in his days of afllNenee then
Interested him in the Horn silver mine,
in Utah, Mr. Cooke visited the mine,
and seeing its great value secured an
Optl0N on oNe>halt OF it for Ss,SO0,00Q,
lie 0rgaNiZeda company to take this on.
tl0I> and succeeded in placing enough
stock to give him an interest for Moth
iNg, The mine proved very Valuable.
aud IN the t0ll0WlNS seven yearS he re-
eelVe0 IN dividends between $4,000
and $$(NOON With this money, he
hONgAR hNek his home. the Island Glib
raltaY> in Lake EVSA
Mr. C0NNe sun PetNSMeSi his faith in
Duluth and purchased at a very low
price about A>lEl0 acres OF land back OF
the city, on both sides OF the river ST.
Louis This he lNteN(loa to develop AS
Ntl(Sa(NS the AANGSdSNt water power, ANs
0eterENea executing his pNrQeSe ana
within the last sixty dAyS he has sold
out the entire NrNNerty for \ sum app
pN0NSMatSMg $l>O0A09A> he Is the prSNs
cSNSl owner of the &atsySNNrg & HAMS
bSlrS railroad, which ne proposes 10 eS>
tend 10 WAShSNge0N, owns the South
Mountain mon property IN this state
and has SNN&rs other INVESTMENTS His
present fortune is estimated at about
SSoo0ooo.
TllR PARTNERS.
Harris c. EaANeStocS and James A
Garland were the principal partners in
the New York house. They continued
their relations With Wall street, and
fiNally secured an interest in the First
National bank. The bank has been
wonderfully successful, and its stock is
now quoted at $1,000 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 partner
in the Philadelphia house, attending to
A rannnrinrr
all the assistance in his power to the
trustees he engaged after a time
in the banking and broker
age business with Joseph NJ. Shoe
maker, one of Mr.. Cookies heads of de-
partmentS. The firm proSpere6, but a
few years later Mr.. Thomas was offered
and accepted partnership in the firm
of DreXel & Co., of Philadelphia. He is
the executive partner in the house and
enjoys the unique distinction of having
managed the two largest banking firms
that ever existed on this continent.
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 partnership with Charles
d. Barney, under the firm name of
Charles D. Barney & Co.. which has
ever since been one of the most prOmi-
nent banking firms in Philadelphia.
The building where the firm carried
on its gigantic financial operations has
become shop. The wall of that part
of the room where Mr.. Cooke had his
private office, and where he conceived
plans involving millions. is now covered
by an immense blackboard. upon which
the changing quotations are displayed
before band of impecunious men and
boys who buy or sell five or ten shares
of stock at time. The place still re-
tains, however, something of the pepu-
larity it once enjoyed, for it is the larg-
est and most prosperous bucket shop III
Philadelphia.