New-York tribune., 1891-03-05

York who was recently removed from LONDON 10
Brighton in the hope that his health, which had
been In a precarious state for some time, might
no ;mnroyed. died last night. Mr. Jerome's wife
and daughters were present at his bedside wheh
he died.
Men Of to-day will remember Leonard Jerome only as
c,pbman and turfman as the founder Of jockey clubs
and the president OF Jockey clubs. They forget tat
in his earlier days he concerned himself with hlucI
more serious business. They forget that the Deht anu
broken figure seen in streets ana on our Taoo
courses In years once enjoyed the dsncnoh Oh
being a Wall Street king They knew him as
man Of moderate means yet there was me N '5 uuo
NJ his affairs when lie played at seesaw with Millions
His riches came swiftly and took to themselves "IhsS
His birthplace was in Onondaea county -
Four brothers had preceded him irt0 the "oru' lou'
came after him. and his was the master Didlh Vi "
Two brothers both graduates OF Princeton dieo III carry
youth one at Princeton and one In the Soutl. lIcc
came 10 NcyyYork to try their fortunes All chteieu
Wall Street. All prospered. The fortune oi vi"
eldest, Addison, became impaired some years ooi'
his death. Lawrence known everywhere As L".iS'
one OF the noted wits OF his day, is sad 10 haNo p.
the proceeds of the sale of his scat on the STOCK EN-
change In an annuity, which added Sf'ooo 10 u" al
ready fair income. His son. capable young
an Assistant DisrictAttorney under JOhh H. feiio"'
Leonard Jerome had two Alma Matters haNIus oe'"
bachelor OF arts of both Union and Princeton coHes
Leaving college he read law, was adhl'~u u ''o u''
and practised for four years with MS uhct' jug
Jerome at Rochester. Indifferent success causeu nm
to drift into journalism, and establishing Inc
Rochester Native American" he sportcd with the pen
tiu he received the appointment OF consul at trieste
subsequently he drifted TO New-Io Without Inoos
and almost without name he came upon NaIi o"V''
He put himself at the start among the lHoSV O"ii7
d proved to b, one of the most successful OF
He took his place as leader OF fashioh. Ho
81 nd
terms to the street. The foundation of his success
was laid in the panic OF 1887. one LUCKY
stroke gave him fortune, which he sca'lered VIII"
lavish hand lie became the friend well as The
patron of artists and actors. HIS passion lor "i'
theatre and oper was exceeded only by his fondnesS
for horses. lie built his stable before he ouilt Ills
bouse. II was Of brick faced with marble, tInee
stories high with a mansad roof lie hleu II
with horses and carriages OF the finest MAKES rA
cept the Emperors News, in Paris. 1t is doubtful II any
stable in The world at that time. surpassed Jerome .
Black walnut plate glass carpeted floors ana o'her
costly decorations ornamcnted the place. ABOVE uc
stable he built private theatre. more brilliant IN
decoration than Nibo's or Waliacks. Here 1t was
arnonnced he was to give ball. Invitations were
sought eagerly by the Four Hundred of that day. ana
all the wealth and fashion and beauty OF the me
tropolis took part in the dance. The theare "as
handsomely adorned. Two fountains we're placed III
the centre OF the auditorium, one playing cologne the
vellous The front of the theatre was Illuminated the
sidewalk was covered with crimson tapestry and the
servants were numerous and elegantly dressed Iho
cost OF The supper reached into the thousands.
In front of his stable Mr. jerome built his house.
and for years it the centre of fashion, FROM us
doors one sunday afternoon, he drove the hrst four
in-hand ever seen in this city. The roads. for the
most part were bad. and he determined 10 improve
them Above the Harlem River, in Westchester
County is a fine boulevard which bears his name.
1t was built by his enterprise and largely at his eX-
pense At this time he became interested in The
New-York Times" then edited by Henry j. Raymond
and was, during the war, its largest stockholder lie
exhibited much public spirit, giving money and
services all that within his power. to the Union
cause He contributed so, 900 in one sum toward the
building Of a war vessel the Meteor which was in
tended to destroy the Confederate cruiser Alabama,
and all the expenses Of the great war meeting III the
Academy Of Music paid by him. He was the
treasurer of nearly every large Union fund created in
this city for one purpose or another and contributed
literally to all.
The following account OF Mr.. Jerome's Wall Street
operations was published twenty years ago " In 1oGl
Pacific Mall which has had innumerabe ups and downs
since it supplanted the Nicaragua Accessory Transit
Company in 1856, was greatly depressed and fell to
60. Its next years earnings were enormous novel
ring was formed. Twenty-six thousand of the 10000
shares were bought by combination OF leading opcra
ors and transferred 10 Brown others trustees to
hold for years for the Joint benefit of the members
of the ring. Jerome the man chosen 10 send up
the stock. He known TO the Street as dashnG
operator whose and nearly balanced
each other, bat whom reveIses never depressed For
the most part his operations confined to dividend
having securities and he usually bull in stocks.
He made heavy purchases Of Pacific Mall. and rose
to l6O in thirteen months after the ring was formed.
But there thousands of the shares still out and
when l6O was reached the bears threw upon the
market 1t to 164, dropped 10 100 and 155. and
sprang up TO 165 1t led the whole market, going up
with nervous Jumps that showed the nervous man be
hind it, Up went other stocks in It's train but 1t sii
held the lead and week after it had reached 165 II
was resting at 76only for an hour and then straight
on 10 600 The shorts settled al 16O and in good time
1t mercy of the management that they did So for
Pacific Mail stayed up. In 1865 its capital was in
creased from 81 900 900 TO S100O00OO. and still the
price stood 24O Next year this capital was doubled.
and 1t still stood at 15O paying yearly dividends of 20
per cent.
"Durng these five years Of bulng jerome had
not confined himself to one operation. Indeed it was
in another that his kngshp fully established
In 1868 he held thousands of shares of Hudson. and
the bears had worried the market down to 112
Jerome furious at the decline, and formed strong
CLIQUE TO bull the stock. The market was full OF
Offers and took all that was offered at sellers
option This lasted several days and the market be-
Gan TO fall The clique ready, and bought cash
stock until IL had control OF nearly the whole capital
The bears exulied In what they thought Jeroes folly
They bought in cash Of the ring 20 sell back again al
an advance on twenty and thirty days options The
facilities given them for this manoeuvre persuaded them
that the clique was in need OF money, and a heavy
short interest developed itself. Cash stock In I'M
mense quantities was sod for future delivery ana
the clique took it all in. Then settlement came
The bears were cornered. No stock was 10 be had
The price up TO $50, and the clique lent at pei
cent per day. Fifty thousand shares were due and
On many of them the short interest was duly PAID
The bears finally bought at 175 and 10, and covered
their shorts OF 107 and ll2 The rest OF the STOCK
was disposed Of privately.
"Jerome's profits were immense lie LED the street
now 10 the exclusion OF every Tobn, even with
ALI Vanderbts influence, had not tie power OF Jerome