The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-09-19
JAY COOKIES VISIT.
Great Financier Comes to Seat
tie on the WOlcott.
FATHER OF NORTHERN PACIFIC.
HIS First Trip Over the Whole Line
Some "Reminiscences OF the
Early Struggles.

jay NOokes Win IhHllfg, CafnS No"A
from Tacoma yesterday morning in the revenue
cutter wolcott, took luncheon at the Rainier
hotel, and returned 10 Tacoma in the afternoon
Mr.. Cooke LETT his home In Philadelphia sont
weeks ago, intending TO come only as far Wes
as Dakota His family, however, were bound
for Tacoma, and were going from there to Van
eouyer 10 say goodbye TO his grandson, Mr.. Jay
Cooke, Cd, who has set out on trip around
the world. After starting SIR. Cooke found thai
he would have time to go over the whole line oil
the Northern Pacfc-the road of which he Il
the father. President 7. F. Cakes put the Min
netaska, sumptuous private car, at his dis
posal, and he has traversed the road carefully
from Duluth to Tacoma. He has been at the
latter place all this week as the guest OF MI
Theodore Hosmer, and he has received every at
tentlon from the citizens. Thurday night The
Chamber of Commerce gave him a dinner, and
he has received invitations TO visit all the prln-
cipal points on the Sound. The Beilingham
bay cities sent delegation to Tacoma. and
Judge J. n. Scott was prepared to entertain MIN
at Port Townsend.
"My only reason for not going to every place
on the SOUND" said Ar. Cooke yesterday, SIS
lack of time. Before had decided 10 come thus
far I had invited 10 my summer home. Glbraiter
island, in Putin Bay, Lake Erie, number OF
friends whom must go back to entertain
In consideration of Mr. Cookies distinguished
services 10 the country the government officers,
Mr. Cooke should De shown every attention.
Accordingly Captain d. f. Tozier placed the
revenue cutter Noicott at the disposal OF the
party and they started from Tacoma yesterday.
The Tolcott was very beautiful with her new
fittings and furniture. ana was greatly
admired by all. Those on board with Mr.. Cooke
were bis son, Mr.. jaw Cooke, IT., two grand
children, Miss Carrie Cooke and Nr. Jay Cooke,
Sd Mrs. Isaac ". Anderson, of Tacoma, and Mr..
Theodore HOsmer. Captain Tozier and Lieu
tenant II. b. West of the Wolcott, and Mr.. Al
fred Holman took luncheon with them at the
Rainier. On the way TO the hotel the
party went over some OF the principal
streets OF the city, and returning TO the VOL
colt they called on Captain Toziers brother-in-
law, Mr.. D. II. Vail Captain Tozier had pur-
posed holding public reception for M Cooke
the Woicott at seattle and Port Townsend,
but the eminent guest would not spare the
time.
Alter reaching Tacoma last night Mr. Cooke
and his family took their car for Portland.
From there Mr.. Jay Cooke, il, and his TWO chill
dren so on to san Francisco. Mr.. Jay Cooke
himself comes back to Tacoma on Monday and
starts directly East. 81 have invited TO accom-
pany me- said he, "my old friends, Mr. Hosmer
and Captain T0zier, but am sorry that neither
of them can go with me" When Mr.. Jay Cooke,
IT,, gets back from San Francisco with his two
children, they will make a trip around the
Sound in the Wolcott.
Mr.. Cooke, who is the greatest fnancier this
country ever produced, and who has been for
years one of its most conspicuous figures, is
fully 70, yet he bears lightly the burden of age,
for though his hair is gray, turning to white,
and his long, full beard like snow, his eye is yet
bright, his cheek clear and rudy, his hand and
his step firm. As he walked up to the hotel yes
terday he set the pace for the captain, who is in
the full vigor of his early thirties. Mr. Cooke is
still great lover of fishing, shooting and out of
door sports. He is tall and well built, and his
finely-molded head is decidedly intellectual.
His early life was passed in the West Al
lived in st. Louis when there were not more
than $500 people there said he, ''and | have
Killed game where the principal stree IS of the
city are In those times Chicago only Fort
Dearborn. with few scattered houses around
in the mud"
After 1899 Mr.. Cooke was in the bank
ing business in Philadelphia, and his firm
had worldwide reputation. Three years be-
fore the war broke out he retired from regular
banking business and gave his attention to
building railroads. form OF financial enter
prise which the firm had largely undertaken.
The house of Cooke was al the back of most of
the railroads constructed before the war, and
Mr.. Cooke had long experience in handling and
placing large amounts of securities. When the
government was in need of money to carry
on the war, he the man
OF the house, and he soon became the govern
ments sole financial agent He ii0atcd over
two thousand millions of the government bonds
the vastest piece of financiering that had ever
been known. In five months, toward the end of
the war, he placed loan OF ssh. 600 600, and in
one day he sold Si2O00,000 in bonds. Though
his part III putting down the rebellion not
- SNOWY as that played by general III the field,
20 him is nevertheless Que the credit for raising
the enormous sums which were absolutely
necessary for the crushing out of the rebellion.
His "reminiscences OF the days when he took
hold OF the great work OF building the Northern
Pacific are interesting in the extreme. The
charter had been obtained in is6i." said he yes
to-day, but no work had been done, AMI in
1850 this charter was sold to 81 syndicate repre-
sentiug the leading railroads of the country.
The directors OF the Pennsylvania had tenth
interest, the Erie Il tenth, the Maine Central
a tenth, the Vermont Central, the Chi
cago * Northwestern, the Fort Wayne,
and so on. These hardly knew what 70 do with
the charter, aud they came 10 me in 1SG6, asking
me To take hold of the enterprise OF building the
road. had lived in the West, and was be-
lever In the West and its future development,
but at that time was too busy with the gov
ernment matters. ! wanted specie payment re-
sumed in lad6-aud am sure that IL could have
been done. 1 wanted the debt refunded at pei
cent, ard an confident that that also could
have been carried out.
matters, ana | could not take up the Northern
Paciuc. The owners of the charter came to me
each year until 1859, when / agreed u get this
money. one part OF the stipulation was ths
we were AZ no time To be required to adyauc,
over 100000 OF the amounts needed as WORK
progressed.
"Be!o-e | bound myself irrevocabiy, I said
that must satisfy myself beyond all possible
doubt as 70 the resources of the country throug b
which the road WAS To pass SO / sent out
. party consisting of ". Miiner Roberts the
leading engineer of the country, smother engi
neer named Johnson, Rev. Dr.. Claxtou who
WAS professor In the West Philadelphia Divin
Vy schoo,-snd a sArewd business man. by the
way-my nephew, William T.. Moor head Sam.
uel Wilkinson, OF the New York Tribune, and
three others. They went to san Francisco eli
rect, aud there took "A steamer Tor Portland
Crossing from the Columbia, they travelled 4
every part Of Puget sound, going even beyond
the Canadian border, So far as was possible
they took account oi the bouudless resources OF
tbs country, ana made careful notes OF what
they saw
Having covered the ground here they went
back "a Portland and up the Columbia; then
over Lake Pend OrCille; along the Clark river
and through Deer Lodge pass in Montana They
visited Helena, then small mining town. Gal
latin city, and gave the country there q
they had gone.
ii received further valuable information
through large party of Montsna men. who
came East by following the Yellowstone down
To the Missouri
Il also induced Governor Marshall, OF Mime.
sofa. 20 go with = party through Minnesota
from Lake SUPERIOR To the west
boundary; and TO explore Dakota through the
Devils lake region and the vicinity OF Nils
"a -