The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1890-05-10
BROADBRIMS N. Y. LETTER

nent business men and well-knOwn politi-
clans within the past few weeks suggests
the question: Can business and politics be
successfully run togetherP No three men
in this community we're better known than
Ex-Governor Alonzo b. Cornell, Franklin
Woodruff, of Brooklyn, and John F.
Plummel, of this city. Six months ago all of
them were supposed to be gentlemen of
ample fortune. Every one of them rated
high on the Mercantile Register, Sixty
days ago either one of them might have
drawn his check for a hundred thousand
dollars, and it would have been cashed by
any bank in the city; to-day two of them
are bankrupts and the other has paltry
judgments against him for a few hundred
dollars. Governor Alonzo B. Cornell was
born to fortune. His father was one OF
the richest men in the State, so rich that
besides providing amply for his family he
had enough left to found the Cornell In
stitute at Ithaca, lone of the most magnifi-
cent institutions of learning in the United
States. From his infancy the Governor
never knew want; his whole life has been
mixed up with bankers, financiers and men
of fortune. His name on the list of
directors of bank or insurance company
gave the institution character and stand
ing tone, and as a consequence he was
much sought after. For several years he
was Vice President of the Western Union
Telegraph company, and being on the in
side ring of that gigantic monopoly he was
supposed to have finger in all the nice soft
plums that float ON the glided surface of the
Stock Market. At times when the bulls and
bears met in deadly conflict a nod or wink
from Governor Cornell was worth a princes
ransom; his word was law and his judg-
ment infallible. Perhaps he believed it
himself; IL he did he was destined to haYe
very rude awakening. 1t is just about
eight years ago in the early fall since the
Governor sat in his magnificent Office in
the Western Union Building. That morn
ing Western Union sold on the market at
110 and was regularly paying It's eight per
cent per annum; before night it had
tumbled ten points. The Governor looked
little blue; not very blue, but just blue
enough. 1t was mere bag of nails; that
little fellow Gould was trying to do some
thing, but he would soon get tired, and
when they did go for him They'll beat his
brains out. The next morning saw the
battle raging fiercer than ever, and so it
continued for many days till the great stock
fell forty points, and then the little wizard
so fixed things that Governor Cornell was
quietly elbowed OUT his place as Yice-presi-
dent was given toone of Mr.. Gould's friends,
has infallible knowledge of the stock
market was found to be sham, for in the
formation OF what was known as the blind
pool, an organization of capital for the
purpose of bulling the market, he lost
everything, The blind pool was miser-
able failure, and everybody connected
with the rest. He never recovered from
the shock. Only few years ago he was
one of the most prominent politicians in the
State, now his name is meyer mentioned,
and the week before last a number Of
small judgments were taken against him.
His business losses are said TO have
affected his mind, and if it is actually SC
he adds one more to the p'tifUl wrecks that
line the shores of Wall street.
In the Harrison campaign there was nc
no more conspicuous figure than John F,
Plummer. Mr.. Plummer was the leading
partner in one of foremost drygoods houses
in New York, the specially of which was
satinets; for long time his house con
trolled the market on certain lines ot
goods. He was known in business circles
rs hustler, and people generally knew
when John f. Plummer was around
During the Harrison campaign, he organ
lied business mems Harrison and Morton
clubs, all oyer the city, and it was he who
originated the idea of carrying the speakers
and band around the streets on bis
truck, stopping on the street corners Of
wherever they could get crowd to give
the people the true Republican gospel, anC
show them the advantages of the protection
of American industry. Mr.. Plummel
abandoned all business for the time anC
deYotrd himself exclusively to politics. HI
spent several thousand dollars in the fight
and when the battle was won his services
were overlooked, and he began TO find ou
that politics, like the white man, was berry
onsartin, He then began TO look into hi
business which he had neglected for seyera
months, and a few mornings after hi
faithful partner with whom he had beer
associated for over quarter of century
skipped over to Canada that Paradise o
American thieves, his books showing de
felt of one hundred and forty thousan,
dollars; and this with other business losse
that he knew nothing OF owing to his de
yOtion to politics has ruined him, and to
day he is bankrupt without a dollar il
world.
Franklin Woodruff was also a wealth,
man who was desirous of distinguishinl
himself in politics, and as stepping ston
to political preferment, got himself electeu
chairman of the Kings County Republican
Committee; and when 1t is remembered
that it was the pulling down of the Demo
cratic majority in Kings County, whic
rendered the election of Benjamin Harrl
son possible, 1t will be seen that MI. Wood
ruff in the distribution of the political loaye
and fishes was entitled to especial consid
GRAFTON, but he received nothing. A polli
ieal rebellion was created by his leadership
his party broke into factions. The oppos
ing faction headed BY disreputable poll
tician, entered the market with Doodle +
buy votes, and in the midst of the fight hi
business crash came, and he went to In
board for two hundred thousand dollars
Mr.. Woodruff was the partner of the motor
ious Frank Moulton, who with Theodor
Tilton, tried TO ruin the late Henry War