The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-24
UNCLERUFUSHATCHDEAD
Els DEMISE DUE TO LIVER AND
KIDNEY TROUBLES.

for q Living at a render AQe-He
Was the Founder Of the CHICAGO
Board of Trade.
NEW YoEK, Feb. 23.-Rufue Hatch. the
veteran flnancier, at one time president of
the Pacific Mail Steamship Company. died
at his home in the upper part of the city to-
day. He had been ill a long time from a
complication of liver and kidney troubles.
Rufus Hatch came from sturdy stock.
said the New York Press recently in an ar.
tice on the fnancier. His parents were
farmers in the little village Of Well. York
county, Maine, where the family settled 100
years ago. The Hatch family came from
England 200 years ago, some settling in
Maine and others in Connecticut 1t was
century later that Rufus ancestors settled
in Wells. some OF the family went west,
and their descendants may be found in
Ohio
Rufus was born in 1888. At 10 years OF
age he was forced to earn his own living.
aud secured employment in general store
in Kennebunkport, Me- About this time
Rufus first fell in love with a pretty girl of
that town. One fateful evening the bows
charmer came into the store. She wanted
gallon Of mOlaSses. TremblDglY Rufus
took the jug from her and went TO the hogs
head. 1t was a bitter cold night and the
molasses ran out slowly. Rufus kept his
eyes and thoughts on the girl, and when her
Jug had been filed he gave it TO her. Then
he closed up the store and went home The
next morning his employer opened the store
IL WIS still dark, so he could not see. The
floor seemed very sticky and slippery, maka
ing locomotion uncertain. He struck a
light and then found thatthe floor was COW
cred with three inches Of molasses. Rufus
with his brain in whirl over the young
woman, had forgotten to turn off the mos
lRsses.
THE FINANCIER's EARLY YEARS.
When Rufus was 10 his family moved TO
Rockford, Ill. The town was then the can-
ter of farming country. Young Hatch
got work In a store, which was the head
quarters OF the farmers for miles around,
His employer was unable to buy up all the
produce brought to him, so he gave Rufus
permission TO buy and sell some for himself.
The young man did so with so much sue
cess that he was soon able to make his head.
quarters In Chicago.
In that city he engaged in the grain trade
and was again very successful. With sew
eral other merchants he founded the
Chicago Board of Trade. About this time
he married Charlotte T. Hatch, distant
relative, whom he had met in Rockford.
Shortly after this ne sent a S15, 600 organ to
the Rockford church, in which he had
worshiped and in which he had played the
melodeon.
In Chicago Hatch became acquainted
with Henry Keep, president Of the Chicago
Northwestern railroad, and the two men
were fast friends both in Chicago and in
this city during the war. He was a mem
Der Of the gold board and the stock ex-
change Of this city.
In 1871, when he was the managing direc-
Sor of the Pacific Mail Steamship Company,
the company built two palatial vessels, the
City of Pekin and the City Of Toxic. The
initial trip Of the Pekin was to Newport
and Boston. On board the vessel was Presi-
dent Grant, members OF his cabinet, Gov.
John A. Dix Of this state, judges of the su-
preme court and many other dignitaries.
The trip was one grand triumphal cruise
for the Pacific Mail, and 10 was advertised
far and wide
Rufus Hatch always showed that he was
determined to be recognized by those whom
he considered under his command. On the
last Saturday Of September, 1874, the City
of Pekin sailed from this city for California
in charge Of Capt. Griffin and Chief Engi-
neer Douglass, and Rufus Hatch and party
OF friends as passengers. Shortly after the
steamer left her pier Hatch and the chief
engineer had some words and Hatch ordered
Capt. Griffin to suspend Douglass. This the
the steamer at anchor, and as soon as the
vessel was stopped Hatch hurried back to
this city and endeavored to have the Pekin's
clearance papers rescinded. Failing in this
ne attempted to get a majority of the d.
rectors together In order to remove the
captain. Again he failed, and on Monday
morning the PekIn sailed but without
Griffin and Douglass found orders there
suspending them by order Of the board of
directors and ordering them to report TO the
company's office in this city. Hatoh's iron
hand had made itself felt.
HATCH CAUGHT IN SQUEEZE.
In 1878 Hatch entered into deal TO boom
Northwestern stock. 1t was hard work at
first, but the securities went up, when sud
denly there was a sudden slump. Hatch
was we'll nigh ruined. Up to that time he
had been friendly with Henry Clews, the
banker, and the latter is said to have adj
vised him to go through bankruptcy to re-
lieve himself of his debts. Hatch felt
offended at the proposition, retorted holly,
and left the bankers office 10 a rage Since
that day the two men have not spoken. The
following year Northwestern went I'D
without coaxing. Hatch got back a por-
ton Of what he had lost the year before
Inside of three years he had paid up every
dollar which he owed.
ceived the idea Of building iron steamboats,
with water tight compartments for river
navigation. This idea crvstallized iato form,
and to-day the Iron Steamboat Company
is the outcome Of it, As a member of the
produce exchange he made many bold
strokes. He thought nothing of buying
1000, 600 bushels Of wheat at a time, and he
always came out of the deals gamer. These
transactions were all conducted in the name
Of James R. Keene The success Of the
pair was due to Trustworthy information
which Hatch received from Chicago.
One of Hatoh's biggest ventures, and the
one which finally wrecked him, was his
entry into Northern Pacific affairs with
Henry Willard. With him he formed the
Yellowstone National Park Improvement
Company, and interested in the scheme
such men as Roscoe Conkling and Gov.
Green of New Jersey. The scheme was to
build hotels for tourists in the Yellowstone
park and provide other accommodations
Tor their comfort The company secured
lO~year lease from the interior department
OF small areas in the park for their hotels.
They began work with a capital stock of
$1,000 900. They gave out contracts for the
building of stage lines from the railroad
through the PARK to their hotels, and also
arranged for telegraph aud other facilities.
Great difficulty was experienced in build
lng-trst, owing to the lack of means to
transport material, and secondly, owing 70
nod 10 ho