The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-01-07
WIN. S. LADD DEAD.
Undoubtedly the Richest Man in
the Pacific Northwest.
PORTLAND's PIONEER BANKER.
Worth Twenty Million Doiiars-Band-
master Capps Dead-Blaine and
Senator Kenns Improving.


pioneer banker of this city, died here today.
His death was due TO heart failure. About e:30
this morning Lsdd arose and was being dressed
by his attendant Just as his shirt was being
drawn over his head he gasped and fell back On
his bed. Death was instantaneous and peaceful.
Arrangements for the funeral have not yet been
completed.
Mr.. LAdd was . large property owner in this
city and ali over Washington. He was the
principal stakeholder in the First National and
Dexter Horton d Co.'S banks, the latter of which
has Just finished the finest bank building in the
city. He owned between 400 and 500 acres OF
land in South Seattle estimated to be worth
10000 and had much choice city property. lie
also owned property In nearly II not every
county in Washington, his holdings being par
ticularly heavy in the Sound country, and his
holdings in this state were nearly If not quito
&5U0.OO0. the banks in which he is interested
will hold meetings TO consider what action they
shall take on bis death.
William Sargent Laid, the richest man in the
Pacific Northwest, was born at Holland, VT,
October 10, 1896, OF a family that came TO Amer
lea in 1923 While he was boy his parents re-
moved 10 New Hampshire and found work for
him on farm, and sfterward bought fifteen
acres OF very rough, rocky and wooded land.
which young Ladd brought into cultivation by
his own personal exertions. AT the age of I9 he
taught school Mt Loudon, y. H. in district
where the teacher had to fight pitched battles
with the older pupils; but he tanned TIE
wild boys and made some OF them
learn. After reaching manhood he obtained
employment in the freight house of the
Boston, Concord & Montreal railway at
Tilton, n. H., and obtained practical business
education The discovery OF gold in California
turned Ladd's attention to the Pacific coast.
and ne became impressed with the belief that
not the region out of which the gold WAS dug.
but that from which supplies were obtained Tor
the miners, would ultimately anass the greatest
wealth: belief that time has proven 10 be cor
rect Lsfd sailed from New York February y.
EArZ anafx rkaa~xa hat aharf
T. Iiitou, an old school friend, selling con-;gn-
,nents which he was receiving from New York
TO iobbers. Laid proposed 70 Triton that they
go into business and thereby sell the goods
themselves. To this Tlltou did not accede and
Laid went up 20 Oregon. At Portland he found
il difficult TO gain foothold. and he was glad
MT one time to take job of removing some big
etumps from what is now the northwest corner
oi Front and Morrison streets. Alter he secured
the contract be was obliged to obtain adj
vance OF money in order to buy meal to
strengthen him for the undertaking. Ledd
opened general merchandise store at Morrison
aud Front streets. He found an opportunity to
close out q stock of goods brought TO Portland
in vessel by friend OF his father. and
cleared $1,000 by the transaction. This sum
he Immediately reinvested in articles of
ready sale, and was enabled 10 prosecute
his mercantile business with vIgor and increas-
ing profits. His business habits In the early
Dos were most exemplary lie was always TO be
found at his store. often as eAry as o clock in
the summer mornings. He q shrewd
trader, and accepted his gains and losses with
word from Tilton that turpentine running
low in the San Francisco market, he made
shipment by the steamer Gen Warren, an old
vessel. Striking the Columbia bar she went
out she went to pieces. Tho morning the news
OF the wreck reached him Ladd purchased in q
few hours all the available turpentine i'll Port
land and had il in HIS store. This brought $40 a
gallon at San Francisco, the profits more than
covering his former loss In 1892 Ladds BUSH
ness was strengthened by partnership with
Tilton. and in 1853 by the arrival of his brother
Wesley. In 1s5i he was married to Miss Caro-
line A. Elliott, whom he mad known in school
days. In 1853 steps were taken with Tilton for
the formation of 4 bank. and i'll 1859 the institu.
ton was ready for operations. This is the IA
NOUS Ladd Tilton bank, at the southwest cor
more money than any other institution in the
Northwest The building which it occupies
was the first brick block in Portland. Ii was
stsrfed with capital stock OF $4,000. aiterward
increased TO $780, 900 and later to 81 0p.000 When
the partnership was Dissolved in 1850 bills re-
ceivsbe amounted to s25o,00. In 1860
fadd, Simeon g. Reed, J. G. Answorth and K.
X Thompson established the Oregon Steam
Navigation Company. making connection, by
steamers on the Columbia aud Snake rivers and
a portage railway at the Cascades, between
Portland and Eastern Washington, Eastern Or.
egop and idaho. The discovery of the Idaho
mines gave a great impetus TO travel and all
the passengers aud freight paid toll to Laid.
From 1860 20 lsso the company. which had
invested s2oooo. cleared 100000. aud
Company s0 for iAfa sso Soash' Besides ahs i b.
banks, he owned enormous tracts OF land more
more than any other man in the Northwest He
owned three fine farms by himself ana five in
partnership with 5. q. Reed He conducted
there partly for amusement and recreation pur
also Tor the sake OF discovering and Introducing
the most improved methods, testing machinery
and importing live stock. breeding fac cattle,
but not last horses He controlled th-ee-fo
OF the entire hoGring mill business of the Pacific
Northwest lie was identified with the Oregon
Iron and steel Company, having a great plant at
Oswego. aud was st timo n controlling
stock holder in the Oregon Railway K NAVIGATION
Ia nd n 70 PM Of fAaay
Portland and lots and buildings all over Port
land He was very unprogressige about inn
proving his property, aud this made him unpon-
ular with the later comers His home on Jeffer-
son street was one of the handsomest in Port.
land. but this was the only creditsble building
be ever erected. For fifteen years ar. Ladd had
been unable to walk, owing TO "A stroke Of par-
aiysis OF the lower limits, yet he personally
looked after mis- vast business. going 10 the bank
III an omen carriage, from and into which he
had To be assisted by "a servant He came down
town every day, and few persons In Portland did
not know him by sight In his prime he WAS n
powerful man. weighing more than 100 pounds
His estate Is worth at least s-0.0Go,0u0 His wife
and five children survive him. His eldest son.
William NJ. Laid, II u IA tuer in the bauk He
has his fathers tastes,ani Will LOOK after the
vast estate as carefully George Gould pre-
serves his fathers fortune. The sevoud SOP.
Charles f. isde. i, az the head % the great
Iadd Touring husiceSs The third son. Nes-
ley. Is barely of age. The eldest daughter -
the vile OF Henry J. Cosbett. son OF ex- senator
toTbett. The second daughter - the wife of
Charles Pratt. OF Bruoklyu. The Standard Oh
magnate. MI. ladds business integrity WAS
never questioned, ami his whole career WAS a
pattern OF upgichtuess. Has gifts 70 charities
amt religious institutions have b en- lruniucent.
He endowed the chair OF practical Theology in
the PreshS teFiAn Theological seminary at
Oakland, IN 1850. with $1,000. and gave several
scholarships TO NiilaAette uniVefsitv He had
assisted neariy every church in Oregon, For
twenty years the Library Associate N occupied
rooms above MS hank free ot charge From the
nrst IL was iadd's custom - set apart one TENTH
OF has net income Tor charitable purposes. 1t
principle Of his business never TO go to
lsw except as Il last resortl
CARHA ~ DEAD