The morning call., 1892-06-11
SYDNEY LILLoN.

The deaths Of men like Sydney Dillon
ought not to be passed over in silence. be-
cause they teach lesson which young men
ought to study. BE began life as a poor
Irish boy (le was born in the State Of New
York Of Irish paTentage) wandering around
in search Of a days work; be died worth
millions, enjoying the respect Of all who
knew him and the affection of those who
were admitted TO his intimacy. For several
years he earned his living with pick and
shovel in the service Of contractors who
were beginning the construction Of our
railroad system, and having saved a few
dollars he presently ventured to take a con-
tract himself. He soon acquired the repu-
tatlon Of an honest, faithful workman, vino
could be relied upon TO put good work into
the jobs he took. The foundations OF bis
fortune were slowly, but securely, made in
the railroads Of New England.
With the money thus acquired he removed
to the plains, and, in company with Dr.
Durant, the Ameses of Boston, Farnham Of
Chicago, and others whose names were
made familiar to all in The Credit Mobilier
investigation, he began to take contracts on
the Union Pacific. When his Western work
was done Commodore Vanderbilt placed in
his hands the job Of sinking the New York
Central track through New York City. The
Commodore was man who paid cash, but
lie wanted his work done cheaply. Dillon
was no longer straitened for money, but
his profits were not as large as they might
have been had his employer been less care
full. He made money, however, and when
his work was done he was counted among
the rich men of New York.
just then Jay Gould, who saw the posi-
bilities of the Union Pacific and had been
quietly picking up the stock and bonds of
the company for some time, suddenly de-
yeloped as the controlling owner Of the
property. lie looked about for some one
who was capable of administering the road,
and his choice lighted upon Sydney Dillon.
Under the Ames regime the property had
been unprOductiYe, and narrowly escaped
drifting into bankruptcy. Dillon brought
TO bear upon it the resources Of his power
ful mind, and was assisted by GOuld's skill
as a railroad manager. He effected such
reforms and economies that the stockhold-
ers saw dividends in the distance, and the
stock rose from $40 to S12 share to S75 to
$50 to 500, while the income bonds advanced
from below $50 to par. at the advance,
after paving a few dividends. Mr.. Gould
quietly disposed Of the bulk of his holdings.
realizing, as is supposed, from ten to fifteen
millions by the deal Mr.. Dillon, who had
an interest in the operation, is supposed to
have cleaned up something like two mil
lions.
After they had unoaded the bulk OF their
holdings there was no longer any reason
why Dillon should retain the laborious Office
OF president and he resigned in favor of
Charles Francis Adams, who was a tbeo
rizer on railway management without prae-
tieal experience. After few years incum-
bency it was found that he had built some
four thousand miles Of road through
a comparatively poor country and had
no money to meet the interest on his
bonds. He had to go to Gould
for help. The great fnancier. in concert
with the MoTgans, advanced twelve millions
to meet pressing liabilities, required Mr.
Adams to resign, and made as condition
Of bis loan that Dillon should resume the
presidency. But the task was beyond the
strength Of the old man. He felt that he
was entitled to rest He resigned in favor
of his old coadjutor, S. II. II. Clark, and
lay down TO die.
The newspaper pictures of Dillon do not
give correct idea of the man. He was a
very tall man, with smiling. smooth face
set in frame of white hair and whiskers.
His stride was prodigious. and when he