San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1891-08-24
FROM NOTHING TO $11,OoO,OOO
A Man Who Made a Princely For
tune and Then Lost IL.

. dispatch from New York which
told of the failure of A. B. Stockwell,
who was once power ia Wall street,
to meet and make good his contracts
stated that much sympathy was ex-
pressed for the downfall of once
wealthy man who had shone so
brightly in Wall street, and intimat-
ed that Mr.. Stockwell formerly re-
sided in Cleveland.
An investigation of the matter re-
suited in the unesrthing of an old
time friend of Mr.. Stock wells who
was willing to tell all he knew of the
man. His story, as told to reporter,
was as follows: "Andrus B. Stock
we'll came to Cleveland when quite q
young man and embarked in the coal
business. 1t was somewhere in
the sos, think, and he was full of
lite and vigor, entering into business
with an energy that startled the
old heads of the city. He was
worth butlittle money at the time Of
his advent into the BUSINESS circles
of Cleveland, but his pluck and
perseverance won him place in the
field of speculation. [ will say this,
however, that he speculated mostly
in real estate here and hardly ever
ventured beyond that. He was noted
for his social qualities, and to that
more than anything else L attribute
his success while in this city. After
he hat amsssed considerable for
tune he struck balance one day and
discovered that the total amount
his fortune was close to 81 100, 900.
He thought that in New York he saw
chance to increase this, for
those times, already colossal
fortune, and sold out his bust
tropolis in 1868. Soon after he reached
there he met Elias Howe, the invent
or OF the Howe Sewing machine, and
became acquainted with that gentle.
mans only daughter. He married
her after a short courtship, and then
embarked on the sea of speculation
on Wall street. The swath he cut
there was a wide one, and even the
old men Of the street opened their
ewes at the daring of the yOung spec
ulator. Whatever he touched seemt d
to turn into money at once. HIS
widest schemes were successful
and he played havoc with the
traditions OF the moneyed men.
He became the idol of the
investors, and mOneyed men followed
his lead like sheep. His word was
looked upon as the gospel Of Wall
street, and no one was more courted
than the successful young speculator.
That r. minds me OF an incident in
his career which will show what the
man WAS To 1871 friend OF his in
this city visited him in New York and
one morning they took barouche
and went for q drive down the ave-
nue.. After driving few blocks, Mr..
StCckwell stopped the horses and
beckoned to a small. why looking
man with black whiskers who stood
NJ the corner OF street
they were passing, to come
ana get into the carriage with
him. The man did so, and the
carriage was driven on. The two men
entered into discussion of financial
matters, and the friend leaned back
on the cushion and listened. After
driving few blocks further the car
rage stopped, and the little man
a!ighted without beingi Introduced to
his friend. After the carriage had
been driven out OF hearing dlstal c.,
Mr.. Stock well said: Il suppose yoH
wonder at my not giving you an intro
duction TO that man. Well did not
suppose you would care to meet him.
| sometimes use him in my deals
here. His name is Jay Gould. L
find 1t handy to make use of him In
my business
1T was out short time after this
conversation that Stockwell went to
pieces and the direct cause OF the
crash was this very same Jay Gould.
It was in 1874 or 1875 that the smash
came, aud when he fell his fall was
felt all over Wall street. 1t came
partly from the financial panic which
came upon the country at that time,
but as | said, Jay Gould was the oil.
rect cause. Just before the crash and
when Stock we'll was at the height OF
his glory, he was probably worth
$ll 900. 900, in those days fortune
ranking with that of the Vanderbllts
and other prominent moneyed men.
With the financial trouble came
trouble of q different nature, harder
to bear. His wife died and his home
was broken up. He worked hard to
revive his fallen fortunes, but every
time that his hopes seemed about
realized reverse would come and the
framework of his castle in the air
would be shattered. He never could
regain the money he had lost, but he
still kept up specializing in small
way, and very small way, too, for
he let 200 shares of stock he sold out
under the rules for matter of S4OO.
1t seems sad to think of his decline to
such q level, but only goes to show
how small q thing q single man
is In the whirlpool Of specula-
ton as it exists today in Wall