The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-05
WALL STREET WRECKS.
MEN ONCE MILLIONAIREs NOW
DAZZLING IN BUCKET SnoPS.

Some Actually Are BegRars-The Elk
traordinary Careers of Ives, Ward,
Old Hutch. Stookweli, Tobin and a
Host of Others Who Are Well
Known.
r. r. Wilson IN NeW York Advertiser.
The shores Of Wall and Broad streets are
covered, after every great financial storm,
with greater or lesser wrecks that have
been cast up there by the waves. Every
panic adds to the number of those who fit
about the streets mere shadows OF their
former greatness. Even after everything
has been lost-money, credit, position and
friends-these old financiers hang about the
ticker in Delmonico's, and now and then,
when In funds, 90 into some bucket shop
and bet S., $40 or $25 ON the rise and fall Of
the market.
OF course tho most famous of all these
wrecks is Ferdinand Ward, who not long
ago emerged from Sing Sing, TO which he
he had been sentenced 10 a ten years. term.
But, unlike others OF his GLASS, Ward is not
| TO be found near his old hnunts. At pres
emit, believe, he is living In little Con-
| necticut village with his brother-in>law and
| son; but the chances are that he will soon re-
| enter business life, either in Philadelphia or
| Chicago. He is still q young man,
| and, In O certain sense, has the world be-
| fore him for more than one man has come
| out of Jail and settled down to a successful
| business life in New York. Ed stokes, the
| proprietor of tho Hoffman house, 10 one of
these, and William c. Gilman. the forger,
| is another. James d. Fish, although too
old a man 60 engage in commercial life
Il HNufa " nd al lanf
unnoticed here ever since his release from
the penitentiary.
The ouaintest and craziest OF all modern
| financial wrecks has lately drifted to New
| York, not to make bis fortune, but after he
had lost IL. He must be nearly 20 years of
age; Is tall. gRunt. ungainly and stability
/ dressed. In the summer he wears an old
brown straw hat which be exchanges, as
soon as the snow begins 60 fly, for a big
| rusty sombrero, which be Is supposed to
use as . niRhtcap. He sleeps on big sofa
| In his Office, and his son, still young
man. is worth several million dol-
| lars, and is president OF the Chicago Board
Of Trade, and president Of the Chicago Art
| Institute also But the father. the old man
Of whom am writing now, does not care
for art and keeps a small. cheap restaurant
somewhere downtown. He is known az
| "Old Hutch, and his right name is Benja-
/ min p. Hutchinson. He has never made
any friends, and 80, of course, bis life Is
worse than lonely one. He is too old to
regain his fortune. and some day the rem
nant of his wits will depart and his son will
come on east aud care for him.
| Old Hutch will not DO the first man TO
lose bis reason after his fortune is gone; for
not long ago | read in the papers of the
death OF John W. Hobart, at one time one
Of the wealthiest and most successful brok-
ers In Wall street, who closed his life Of 90
years 10 the Essex county IN. j. insane
asylum. Hobart Yves born in New York,
and, when still young, secured a position as
| Office boy IN Wall street office. He was
successful, and finally went into the broker
age business himself, IN which he accumu-
lated an enormous fortune. But Black
Friday brought his career 10 q close and
transformed him from wealthy man to a
pauper. At tbs close OF a severe illness he
was taken TO the insane asylum mental
wreck and remained In seolusion there until
his death q short time ago.
Alden B. Stock we'll, one Of the most cele-
brated Of the Wall street wrecks. was born
In gainesville, o., and In early life was
purser oE one OF the Lake Erie steamships.
IL happened that on one Of tbs trips OF bis
boats he made the acquaintance OF Elias
howe. the inventor Of the sewing machine