The morning call., 1892-02-06
A arILLIoNAIRE's STORY.

New York has been surprised by the
valuation set by the appraisers on the estate
# the late John B. Trevor, who in his life
time was the head Of the clearinghouse of
Trevor & Colgate. His property is APP
praised at SIC, SOC, eco, which means that II
would command that sum at forced sale.
There are many larger fortunes in New
York than this; but it is large enough to
place Mr.. Trevor after his death in rank
which he never occupied IN his lifetime
that of the very rich men Of the day
He was a dealer in stocks, bonds, bullion
and currency. Thirty Udd years ago he used
10 run around Wall street with a pad in MS
hand, soliciting orders from spectators TO
buy or sell a hundred shares CT stock for
commission of So u; while his partner
bought our current money, and put uP gold
and silver IN kegs for export SUCH busi-
ness supplied the members OF the firm with
a handsome income, and enabled them 70
accumulate a tidy capital; but It could not
make them millionaires. Their first con-
siderable gains were made by John b.
Trevor in the reorganization Of the Ohio
railroads before the war; they were swelled
by judici0us operations during the boom Of
paper money; but the great prizes were not
won till afterward.
In the beginning Of 1869 it became evident
to the controlling minds in the Pennsyl-
vania Railroad Company that they must
obtain an entrance into Chicago. The only
line by which they could extend their sys-
tenn 10 that point was the Pittsburg, Fort
Wayne and Chicago. which ran from Pitts
burg to tie lake The company which
owned the line was in straits. Il had come
into possession Of the property through
sale under foreclosure, and the road not
only earned no dividends but was con-
stantly defaulting on its interest. The
bonds were selling at something like 50
cents on the dollar; the stock had no value
at all, except what it derived from its vOt-
ing power. The Pennsylvania people
secretly resolved to acquire the line. As
they were not rich enough to buy outright
control Of the stock and bonds they had 70
seek cooperation from outsiders, and they
cOnfded their secret 10 three New Iorkers-
Samuel J. Tuden. jay Gould and John B.
Trevor These three had much loose money
Of their oHn. and their credit was such that
their borrowing facilities were practically
unlimited. They Jumped at the offer Jay
Gould, who was the richest of tie three,
agreed to furnish most of the money re-
guired; Tilden undertook to manage the
law business involved; Trevor acted as the
broker. But each of the three bought Fort
Wayne securities on his own account to the
full extent Of his capacity. In June, 1869,
the syndicate found that il held control OF
the Fort Wayne. A secret meeting was
held one night and next morning the
financial world learned with amazemeut
that the Fort Wayne property had been
leased in perpetuity TO the Pennsylvania
property, which guaranteed the interest on
the bonds and promised dividends on the
stock The consequence Of this was that
Fort Wayne bonds, which were worth 30
cents OF 50 cents on the dollar, b came worth
par, and that Fort Wayne stock, which had
been valueless, acquired a speculative value
of something like 50 cents on the dollar.
Out Of this operation Jay Gould is sup
posed to have cleaned up fifteen millions,
MI Trevor probably made one-thiTd, per-
haps nalf. the fortune he has left, and Mr
| TideD who was too cautious to take risks,
possibly realized a million or a million and
a half.
Like MI Rockefeller, Mr.. Trevor was a
Baptist and muniiceni contributor to
Baptist charities, churches and scho0ls. The
rule Of poverty which prevailed among the
Baptists when Roger Williams was expelled
from Massachusetts was long ago repealed.
Lives Of honest frugaiily ana Industry,
coupled with an astonishing development Of
mental acuteness, have created larger pro-
portion Of rich men among the four million
Baptists in the United States than can be
found, perhaps, in any other sect. To the
day Of his death Mr.. Trevor eschewed the
pomrs and vanities Of this world. he lived
| plainly, dressed plainly, and neither he nor
/ any of his family ever mixed In social dis
| sipation. But he is gone now, and his chill
! dren, finding themselves milliOnaires, VIII
! probably spend their money as other mill
| i0naires do. and will Rbate something OF
their sturdy simplicity of life in favor Of the
| Measures which riches bring.