St. Paul daily globe., 1892-06-07
How Lawyer Latham, the
Railroader, Lost His Head
and Was Ruined.
Brannan the Mormon, Raj
StOn the Brilliant and
UXoPiouS Sharon.

Pacific, but Brigham halted by the way
and built the New Zion at Salt Lake
City. says the San Francisco Examiner.
When the gold discovery came he
utilized his followers in mining, care
fully collecting one-tenth OF what they
mined as church tithes. This tithing
money started him OH the way to for
tune, and when Brigham demanded the
tithes Brannan laughed at him. The
Mormon president cursed Brannan.
Brannan laughed and went on making
money. He was worth S5.000.000 in 1855,
when the first vigilance committee was
formed. He gave freely to every pub
lie purpose. He scattered his fortune
in a hundred ventures, and finally the
crash came. 1t was forced by BrannaRs
drinking and his neglect OF business.
Brannan went to Sonora, where he
had betn granted big concessions by the
Mexican government: but bis land was
held by the Yaqul Indians, and ne could
never secure possession. He returned
here Just before his death. When l saw
him he was in a wretched room III a
cheap lodging house. for which he paid
25 cents night. He told me. with grim
humor, that he had met that day in the
streets no less than three men whom he
started on the road to wealth, and each
one passed by on the other side. Yet
when he said this he wasn't bitter, and
when he left his last words to me were !:
You'll see that in few months Pll be
on my feet again. There's plenty of life
in the old man yet"
Latham Lost His Head.
The next millionaire to succeed Bran
nan was Milton S. Latham, lawyer,
who developed great taste for building
railroads and developing industrial en-
terprises. He had tue finest house in
the city in the later fifties, filled it with
costly paintings, held superb receptions.
He sank $4,000. 600 in a railroad, and
this, with other disastrous ventures,
swamped him. He collapsed and died.
leaving no heirs. His fine mansion was
converted into boarding house.
I A contemporary of Latham was +. l..
A. Phoebe, a shrewd Frenchman, who
once owned acres in South San Fran
cisco. He handled his pfoperty well,
built houses, drew enormous rents and
was soon many times a millionaire. He
quarreled with his family and sent
them back to France with ample means.
Then he built a superb house on Stock
ton street, overlooking the beautiful
bay.
If its mirrored and frescoed walls
could speak they would tell of Sardana-
palian DanquetS and of orgies III which
houris from Paris took prominent
part. But evil days fell ON Phoebe. Like
so many others, he lost his head, drank
too much brandy, and one morning was
found dead in his beautiful rooms with
a pistol bullet through his head. He
left his estate in such fearful cOnfu-
sion that very little was saved from the
wreck. His noble mansion was de-
graded to the service of boarding
house.
The Most Brilliant of Them All.
But of all the men who have flashed
like metcors through the California
financial armament by all odds the
most brilliant as we'll as the most la
mented was Ralston. He combined
nerve, energy and audacity. Ralston
gained his nerye and much of his re-
markable GOODNESS in time of danger as
a pilot on the Mississippi.
AS president of the Bank Of Cali
fornia RalSton had unlimited credit.
He built the Laurel palace at Belmont,
thirty miles from the city, which is still
the finest country house OH the coast.
There he dispensed hospitality that
has never been equaled in this country.
But the flood of silver and gold from
the Comstock, which had put this eager
life into the veins of San Francisco, be-
Gan to run low. RalStOn felt the change
first, for he had planned everything on
such royal lines that no retrenchment
was possible. The great hotel, which
was TO cost So, ,0G0, 900, had absorbed that
amount before it had risen more
than one story above the founda-
ton, and ultimately cost S6,000.-
600. He drew money from the
bank to tide over his affairs.
but times grew worse. the bonanza mill
ionaireS controlled the situation, and
they showed no mercy. Finally expos
ure of Ralston's oyerdrafts came, and
the Bank of California was on the verge
of failure, and Ralston drowned himself
in the bay.
Sharon, Ralston's partner, had nearly
as much tragedy in his life, although he
died in his bed. He had phenomenal
success as miner and manipulation of
mining stocks. He gathered FULLY $780,
900. 900, but RalSton'S failure crippled
him for few years.
In 1883 Sarah Althea Hill, MISSOURI
girl. broughts1it against him for divorce
and division of his estate, alleging that
he had married her by contract. The
publication of the arrest of Sharon on
these charges produced a great sen5a-
ton.
1t would have been money and repu-
taton gained for Sharon if he had paid
her quarter of N llion and thus
sealed her lips. Although Sharon pre-
tended to care nothing for these eX-
posures his intimate friends knew that
he was morbidly sensitive. Every
taunt, every caricature. every Sneer
told on him. The climax was reached
when Judge Sullivan gave judgment In
favor of the woman.
Sharon lived long enough to know
that the upper courts would ultimately
reverse Judge Sullivap'S decision. He
died fully ten years before his time,
worn out by the passions aroused by the
divorce suit.
Sarah Althea is the latest victim. Her
brilliant mind is wrecked and she is
now communing with spirits and tight
ing over again the battles for the
millions that she is fated never to
grasp.
Old Mark Hopkins was the financial
brains of the big four on this coast. He
was remarkable mathematician, ana
no one ever surpassed hin% in skill in
drafting contracts and making eStim-
ates. Hopkins had no pleasures aside
from the accumulation of wealth.
Neither Hopkins nor his wife left any
bequests to charity. Directly across
from the Hopkins castle is large lot
belonging to ex-senator James e. Fair,
the bonanza millionaire. Fair Is re-
garded by many as the ablest of the
firm that included Flood, Mackay.
O'Brien and himself. He is still in the
prime OF life, but he is working now |
merely for the sake of retaining his
wealth and the power it carries with it. |
Nine years ago Mrs. Fair obtained |
divorce from her husband. He made |
no defense. and has secured freedom |
and 81 100000 She was all Irish woman |
of no education, who had helped Fair |
when poor. She bore him five chill |
dren. Great wealth proved curse to |
the children. The oldest boy is just
dead, victim of drink. The second |