New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-24
RUFUS HATCH.


soon the severe weather OF January set In I'm.
prudent exposure forced him to take to his bed.
Within the last three weeks he had been many times
mt deaths door. but the careful attendance OF DR..
Darlington prolonged his life. The funeral will be-
conducted at his home By the Rev. Jacob 5. Shpman,
Of Christ Protestant Episcopal Church, Boulevard and
sevcnty-iiistst AT p. M, on saturday, and the
burial will be ut WOodhwn.
Rufus Hatch was one OF the most picturesque OF the
generation Of Spectators which Is now passing away
Genial and cordial In his he early earned the
title Of Uncle Rufus" for his patronng kindness and
bluff good nature. His white waistcoat and white
nccktic-a style OF dress TO Which he extremely
partial In summer and winter alike-wcre famous
the ecccntrlctics Of other weknown men. Warm
hearted and convivial, he made friends where other
spectators made enemies. and perhaps II this
feature OF bis temperament which led TO some OF the
vicSsitudcs OF fortune through which he passed. For
while Rufus Hatch years ago a power In tpecua
ton. he experienced many ups and downs 10 his
finances and at tie height Of his prosperity II is
said that 81 ,0OO 600 would be a generous estimate OF
his wealth The money that he made was freely spent.
but In every stress Of life he SLOWED optimism and
"nerve" that excited admiration. Fond OF wit Joking
and rcpartc-, he loved TO put any argument or pass
comment upon any situation in fanciful epgrsm-
matte form. "Cncle Rufus backward in
expressing his Views in bold and imagery and
the columns OF the newspapers In the later Of Ills
life frequently received his contributions In letters or
interviews. An entertaining taker. he generally
accessible TO persons who sought us opinions.
Mr. Hatch born In Wells. York County. Maine.
on June 81, Is32. The family came from England.
branch settling in Maine and the other remaining
In Connecticut. From the Nutmeg state some OF the
Iatchc5 removed to the Mohawk Valley y. Y. when
It was little than frontier. and later they
moved TO the West The ancestry OF the first wife OF
the dead operator could be traced through the Mohawk
Valley TO Connecticut and her maiden name not
changed bY her marriage The Maine Hatch family
were wctodo farmers. but Rufus abandoned ngrf
culture at early age, going to work in country
store nj Kcnncbunk Me-. when only twelve years old
In ls5l he went West, settling In Rockford H. II
was here that he got his first experience In the grain
business Tho farmers in those days were not dram
Ing Of aniiOption laws and when they brought their
grain 10 country and could not sell all OF II
they carried It home In sorrow. Young Hatch OBJ
tanned permission from his employer to Undertake
sales for The farmers on commission at their risk and
he Immediately had 100 grain sacks brought from
Chicago. stcncllc+i "Ruils Hatch. Commission Mer-
chan,- and the farmers filed them with cereals TO be
.old tyhcncver a demand developed The young
man was successful In his enterprise and finally he re-
moved 10 Chicago. ~
Mr. Hatch was one Of the founders OF the chicago
Board Of Trade. lie became a member oil the hrih "'
Armstrong 4 CO.. which failed AZ the clos" Oh Inc
Crmcan War the price Of wheat cOllapng from III ~
T., 81 cents bushel. Mr. Hatch assumed the debts
Of the firm, and subsequently, paid them on WIN III
tercst His partner Armstrong, was the Organizer
Of the postal service and died IN the employ Va
tho Government. II was In Chicago mat Mr' h"'o"
made the ACQUAINTANCE Of Henry Keep, who In his day
va, the Vanderbilt OF the railway world Apr"
dating IN. btuiancy and kccnncs, OF Mr.. Hatch. Mr.
Keen started him in the stock brokerage business IN
Wall street In l5G2. lie was one OF the organizers
Of the Opcn Board OF Brokers, and for some 'lnc was
The officer whose duty 1t TO make the daily - can
n s,o.ks. When the open Board was consolidated
Hat
,unity 10 refuse % the presidency OF the IN
stItuon II was In 1e6s that In tremendous dear
in Chicago and Northwestern Mr.. Hatch reached the
acme Of his fortune. Mr.. Keep was Thoroughly ao-
quainiei with the resources and possibilities Oh INC
Chicago and Northwestern and he and his friends maze
a fortune out OF the development OF the properly
Mr. Hatch conducted the "deal' as broker Tor the
Kccp combination and at time acquired about tie
entire capital stock OF the company. so long as ne
remained an active Spectator, Mr. Hateh was parun
To OPERATIONS in this stock, because OF MS uoiVush
familiarity with the property. The success Oh u'e
Northwestern corner established Mr. lhtchS reP
utatlon "a ono Of the leading operators OF Wall street
and for years his name mentioned In the liSt
with Law Gould Daniel Brew and other leaders oil
spcculatlon In those days the Stock EXCHANGE re-
NAMED open until p M. and at or u p NJ rio'
~ speculation was continued at Galaghers the mead
quarter, in West Twenty f0urthst FOR traders aI'er
regular board hours.
rh. first partnership associates with Rufus Hatch
in Wall street wen, James w. scover and william
Lennon. In 1873 those men left the hrn but the
name " Rufus Hatch Il CO.. was Kept up. IN $50
Mr. Hatch was compelled 10 suspend IL was III 1919
that he first entered the board OF directors OF The
Pacific Mail steamship Company. A. u. stockweh'
who was its president was 0verthrown after big Dun
| c,unaicn and !. l.. Houston made president
Rack Of Mr. Hatch In his operations In PACING Wall
were Henry Hart, John Roach ana other wealthy
men. "Uncle Rufus was male managing director
NJ the Pacific Mall and he devoted himself to adVer-
Using :hc wonderful future" Of the company Under
his administration the steamers City of TOXIC ana ,lV
- p,Lin were built ut that time the largest steam
vessel, of their kind In the world excepting The Great
| Eastern. Fond OF display and good ieiIo"smp' 'r,
Hatch arranged for the trial voyage oil the thy VI
| Toxic from Ncw-lork to Newport, ana among 'he
Marty TINT he drew together President Grant ana
| many members Of his Cabinet Although successful
| f., his Pacific Mail and subsequently In his Union
| t.c,,c succulatons Mr. Iatchs resources had been
40 severely strained In the Jay Cooke panic OF 1873
that three years later he was forced to fail. Mr..
Hatch met his obligations heroically IN The Pnlcky
,u,s lie once said that b. parlei wi three quarters
~ his wealth before the banks were forced to suspend
| nocie pnyments lie added: g IL had known what
they were going do earller would have quit before
| Them all but they had the drop on me ana cavei
in I didn't fail actually until 1870, although my
losses Of 1873 were directly accountable for that fall
| me."
In the year following his suspension the firm
~ Runl, Hatch & co. came again TO life. with James
| Anthony and j. H. Houston as partners In 1850
tbe two last named retired from the house and
Mr. Hatch gradually went down again by the opera
lion OF financial dry rot lie sold his seat In the
stocI, Exchange In 1850. but H. did not lose all OF
nj, financial prestige until few years later. IL Is
| somewhat cuiious that while Mr.. Hatch was IN OPP
ponent of the original scheme OF the Northern Pacific
| railroad. r,dcung 1t In clever pamphlet published
| IN Ie71 after Proctor Knott made his famous speech
81, the zenith city of the unsalted seas 1t was
through lis connection with that property ten
| years later that the hnal stroke was given to his
| fortune In Isso he induced by Henry Willard
ro interest himself In the Northern Pacific projcc
TIE organization Icy Mr.. Hatch Of the Yellowstone
| lark Improvement Company followed. II Is SAT-
mat the collapse OF that cntciI Use was the revenge
/ I'nlnn Cenrral OF whom Mr.. Hnlrh