The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-12-05

needle, was taking pleasure trip In COM
pany with his two daughters. The young
purser was very attentive to them and
when they made the return trip on his
boat he succeeded In establishing himself
in their good graces to such an extent that
he was looked upon as a family friend and
afterward married . one OF the daugh-
ters. On the death of his father-in-law +,
Stockwell obtained full control of the sew
Ing machine company, which was then
making enormous profits. enough indeed to
have satisfied any man Of moderate embi-
ton. But the profits were not large enough
for Alden b. Stookwell, who by this time
had become interested In one or two Wall
street ventures, and the year 1870 saw him
installed as one of the most prominent men
on the board. IL was about this time that
he began buying Pacific Mail stock at 30,
and never left off till he held controll-
ing interest and the stock was worth l05.
His decline and fall began about 1878,
when a political scandal In regard to the
Pacific mail subsidy developed and COM
PEELED his retirement from the various COM
panies In which he was interested. He left
New York and went TO Europe, and when
he returned but a small part of his former
fortune was left him. lie still owned, how
ever, a seat on the stock exchange and +,
with the fatal persistence of born gambler,
he began to do a trading business there.
Some years ago he was compelled to sell
his seat and buy one In the consolidated
and, a year or two ago, he failed on the lat
ter exchange for less than $500, an amount
which he might have given away in his
prosperous days without noticing 1t.
Another broken-down Wall street mag
nate. who was once worth $2000.O 900,
slouches around tho bucket shops OF lower
Broadway dressed in particularly seedy
coat and attracting very little attention
from any va tina few whO know the story
Of bis career. And vet this same seedy old
gentleman, now perhaps Is years OF age.
made cool million OF dollars out OF Com
modore Vanderbilt's great Harlem corner
In 1868. John w. Tobin was formerly q
gatekeeper on the Staten Island ferry dur
ing Commodore Vanderbilts control. He
attracted the attention of the old
flnancier, who gave him opportunities
for advancing his position In life, and
his prodigy was clever enough to
make the most of it. l have heard that
Tobin finally quarrelled with his chief over
a check which he had given to John Nor
rissey to pay a gambling debt. Morrissey
complained TO the commodore that Iooin
had had the check stopped at the bank and
defied him to take the matter into court of
law. This conduct snraged the old man,
and he ousted Tobin from the presidency of
the Hudson River road which he then held.
To-day Tobin Is dealing in the bucket shops
on pointers given him by those who were
his associates in the days Of his prosperity.
About or 5 o'clock every afternoon be
may be seen ambling down Broadway to
the staten Island ferry, for he still lives In
the home where he first knew the man who
made him so rich.
henry N. Smith. although financial
wreck so far as Wall street is concerned.
need not complain Of his hard luck, because
he 10 still owner Of the famous Fashion Stud
Farm, near Trenton, n. j., where be is
spending his declining years engaged In his
fsvorite occupation Of stock raising and
talking about past events in Wall street
with the old friends who visit him from time
to time Mr.. Smith came from Buffalo
originally, and first attracted attention
by the boldness of his operations
during the early years Of the war.
Early In the eighties he went into a
Lake Shore pool. for which young Willie K.
Vanderbilt got from his father 80, 900 shares
Of stock at a Aery favorable price, but
somehow the stock failed to rise, and then
the Marine Bank failure knocked all the
bull pools 20 pieces, and Smith was involved
In the general rein. Young Vanderbilt
lost on this occasion about 81, 900, 900, which
his father paid and threatened to deduct
from his anticipated share of the VaDder-
bilt estate. Smith, although in a bad way
financially. formed combination with
Baron Woerishoffer TO bear the market,
and would have been successful IN this OBJ
! GRAFTON IL he had not stayed on that side Of