Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1893-03-31
CLEvELAND'S WEALTH.
IL Is Estimated at s25O,OOO-Some
of His Intimate Friends.


In magnifcently equipped train,
such one as has been made up for
few persons in this country, Mr.. Cleve-
land and his personal friends started
tor Washington, and the luxury and
splendor of this excursion suggests the
newer associations which Mr.. CIeve-
land has made in New York since his
retirement from the Presidency in
1889. The modest and transformations
way in which his approach to the capi-
tai just before March 4, 1885, was made
was OF his own choice. Then he could
have had a palace on wheels and a
special train for himself and his
friends, but he would not listen to
such suggestions. He was then a
comparatively poor man. His wealth
was estimated at less than $4,000 by
those who were the best judges. His
habits were simple, he cared nothing
for social relaxation, and even the re-
ceptions which custom compelled him
to give while he was Governor were
tedious and perfunctory ceremonials.
He had seldom entered a drawing
room as guest and was stranger to
dinner parties.
Mr.. Cleveland goes back to Washing
ton rich man, whose chief associa-
tions are with men who have made
great fortunes, mainly in the manipu.
lation of what are called Wall street
stocks. That is a pursuit which has
had no fascination for Mr.. Cleveland.
A belief prevailed that Mr.. Benedict,
who is reputed to have made $3,OOO,-
GOO or $4,OO00OO by his connection
with the Chicago Gas Trust, would
gladly have taken Mr.. Cleveland into
some of those mysterious pools which
have skinned the cream in these gas
stock transactions. But if he made
such suggestions to Mr.. Cleveland
they were declined. The President
owns some bank stock-or did-and
his property is permanently invested
in directions toward which federal leg
islation cannot point. He went out
of the White House $4,000 richer
than he entered, mainly owing to a
fortunate real estate investment in
Washington.
His earnings since he has been
practiciEg law here have, it is believed,
been fully equaled by his expenses.
He lived in no very luxurious way un-
til year ago, in house on upper
Madison avenue, and in o style entail
ing an expense, judging from the ex-
perience of those who lived similarly,
of about $4,000 year. His invest
ments have yielded incomes to be re-
invested, and the general impression
is that he is now worth $230,OOO. Mrs.
Cleveland, who is richer than he, con.
trolls her own property.
Cleveland's most intimate friend is
Mr.. Benedict, who is a typical Wall
street man. He keeps q yacht which
is in commission during the summer
and costs about $50, 900 q year to main
tain. He has a fine place in the
country not far from the first
summer home which Edwin Booth
built for himself, and it was the fact
that they were neighbors that brought
Mr.. Booth and Mr.. Benedict into init.
mate relations, and this acquaintance
extended to Joe Jefferson very soon,
and Jefferson with his friend Mr..
Glider, brought Mr.. Cleveland and
Mr.. Benedict together. Their first
intimacy was that of the sportsman,
lovers OF the aea and his pleasures.
MIR. Benedict sold to Mr.. Cleveland
without driving very stiff bargain the
house upon Fifty-first street, which is
in the very center of aristocratic life
in New York. The Vanderbilts live
around the corner; Mr.. Whitney a
stones throw away; The Astors are to
put up their city palaces a few blocks
further north; G. P. Huntington's
splendid though gloomy looking man.
sion of stone, is within sight, and in q
circle, with radius of quarter of a
mile from this house, there lives
families whose aggregate wealth is not
far from 5O0,O0O,OOO. Therefore this
neighborhood is probably the wealth.
lest in America and perhaps within it
are concentrated the largest number
OF multi-millionaires to be found in
any similar area in the world.
Going from such a center of
wealth and aristocracy as this as the
representative, as he believes he is, of
the plain people of the United States,
seems to suggest nothing of inconsis-
tency to Mr.. Cleveland's friends
here. Martin Van Buren, was the
only one of his Democratic prede.
cessors who had wealth when he served
as President. Mr.. Van Buren's wealth
came from rather rigid economy and
wise investment. He went to the
Presidency from a rural home in the
Valley of the Upper Hudson.
Had Mr.. Tilden been seated in the
Presidential chair he would have fur
nished precedent in the matter of
luxurious living for Mr.. Cleveland,
Tilden's greater wealth did not come
until after Mr.. Hayes was inaugurated
but he was a millionaire when nomi.
mated; had for many years lived in
Gramercy Park, a very exclusive, aris-
tocratic and wealthy section of the