St. Paul daily globe., 1893-06-25
JAY COOKE is HERE.
The Noted Railroad Builder
and Financier RevisitS
the Northwest.
Past Reverses Have Left No
Traces Of Bitterness in
the Man.
AS the "Father OF Duluth" He
Takes Pride in the Ze-
NTH City.
Business and Pleasure Inspire
the Present Visit Of the
New Yorker.

Sixty years of active life have moi
dimmed the eye Of Jay Cooke. AS
successful fnancier of government
bonds in the time of the civil war, as
president of the Northern Pacific dur
ing the early busy days of that great
railway, through his connections with
many important railway movements,
and as the head of the firm of Jay Cooke
& Co., which was for many years the
most conspicuous banking concern in
New York and Philadelphia, his name
became household word throughout
the Union, and was we'll known i'll the
financial circles i'll other lands.
The collapse of this bank
ing institution in 1878 was a
calamity felt greatly in the
Northwest, where Mr.. Cookies principal
operations were then under way. He
has regained much of his wealth and
prestige through his control of the
lands and water power of the st. Louis
river, twenty miles from Duluth. He is
largely interested in other enterprises,
and is here today visiting Mr. and Mrs.
E. w. Peet.
AS he stepped from the train yester-
day afternoon his alert movements,
strong physique and keen eyes gave
evidence of power to still move along
vigorously in the business world.
Twenty Years OF fGrOwth
in the Northwest have been wonderful,
and yet. Mr. Cooke says, but for the
railroad improvements at st. Paul and
other cities there might now be 100000
people in Duluth. The Zenith city was,
and is, his pride, for he was, practically,
its founder. While there during the
past week he was accompanied by a
large number of Leading Duluthians on
a trip to Thomson and Carlton, where
the brick mannfactory, in which Mr..
Cooke is especially interested, is 10
Gated. They saw the slaIe rock blasted,
pulverized. nodded by immense ma
chimes, and baked in great kilns at the
rate of 10000 brick per day. de sold
the magnificent water power for 81 ,0O0,-
600 about three years ago. and re-
purchased it at the first opportunity.
His visit now has been on business con-
nected with the property which includes
the brick manufactory, together with
the recreation and pleasure of visiting
his many-friends in this section.
Jay Cooke is pleased to be known as
the t.father of Duluth" He said:
There were only seven houses in Du-
luth when went there in 1866. Now it
has nine miles of electric line, from the
manufacturing center at the west on
down to the residence districts. The
communities at the head Of Lake Su-
perior
Are All One
as far as interests and prosperity are
concerned. The city holds valuable
geographical position, and the vast eX-
panse of rich country to the west will
pour millions of dollars of wealth into
ller business houses. This growth of
the entire Northwest will continue
despite the temporary adversely of the
present"
Mr. Cooke dwells with pride upon the
fact that his father secured the first
charter which was ever granted for
railroad in America; so he followed his
father in railroading naturally and was
connected with many important enter
prSes. Among them were the North.
ern Pacific, the Lake Superior Il Mis-
sissippi, from Duluth west, the line
from Minneapolis to Saltwater and a
part of the st. Paul 81 Duluth railway.
He will be the guest of Mr.. and Mrs.
Peet, on Summit avenue, over Sunday,
and will start on the return trip to his
home in Philadelphia tomorrow.