The Portland daily press., 1893-03-28
cLEvELAND's WEALTH.
1t is Estimated at $3.50 ,OOO.-some of His
Intimate Friends.

New York Correspondence Philadelphia Press.]
In magnifcently equipped train,
such one as has been made up for few
persons in this country, Mr.. Cleveland
and his personal friends started for
Washington, and the luxury and splen-
dor of this excursion suggests the newer
associations which Mr.. Cleveland has
made in New York since his. retirement
from the presidency in 1889. The modest
and unostentatious way in which his
approach to the capital just before
March 4, 1885, was made was of his own
choice. Then he could have had pal
ace on wheels and a special train for
himself and his friends, but he would
not listen to such suggestions. He was
then comparatively poor man. His
wealth was estimated at less than $50, 900
by those who were the best judges. His
habits were simple, he cared nothing for
social relaxation, and even the receptions
which custom compelled him to give
while he was governor were tedious and
perfunctorv ceremonials. He had sell
dom entered a drawing room as guest
and was stranger to dinner parties.
Mr.. Cleveland goes back to Washing
ton rich man, whose chief associations
are with men wdo have made great for
tunes, mainly in the manipulation OF
what are called Wall street stocks.
That is pursuit which has had no fas-'
cination for Mr.. Cleveland. A belief
prevailed that Mr.. Benedict, who is
reputed to have made 100000 or S4,,-
100000 by his connection with the Chi
cago Gas trust, would gladly have taken
Mr.. Cleveland into some of those mys-
FERROUS 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 in
vested in directions towards which fed
eral legislation cannot point. He went
out of the White House $4,000 richer
IMAM ne GutcTcus OWiils9 w q W
tunate real estate investment in Wash
ington.
His earnings since he has been Drac-
ticing law here have, it is believed. been
fully equaled by his expenses. He lived
in no very luxurious way until year
ago, in house on upper Madison
avenue, and in a style entailing an ex-
pense, Judging from the experience of
those who lived similarly, of about
$2O,000 a year. His investments have
Welded incomes to be reinvested, and
the general impression is that he is now
worth $3.50, ZOO. Mrs. Cleveland, who is
richer than he, controls her own prop
erty.
Cleveland's most intimate friend is
MI. Benedict, who is typical Wall
street man. He keeps yacht which is
in commission during the summer and
costs him $40 900 a year to maintain. He
has fine place in the country not far
from the first summer home which Ed
win Booth built for himself, and it was
the fact that they were neighbors that
brought Mr.. Booth and Mr.. Benedict
into intimate relations, and this acquain-
lance 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
sea and it's pleasures.
Mr.. 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 stones throw
away. The Astor's are to put up their
city palaces few blocks farther north;
c. P. Huntington's splendid, though
rather gloomy looking mansion of stone,
is within sight, and in a circle, with
radius of a quarter of mile from this
house there live families whose aggre-
gate wealth is not far from $500, ZOO, 900.
Therefore this neighborhood is probably
the wealthiest in American, and within
it are concentrated the largest number of
multi-millionaires to be found in any
similar area in the world.
Going from such center of wealth
and arist0cracy as this as the representa-
tive, as he believes he is, of the plain
people Of the United States, seems to
suggest nothing of inconsistency to Mr..
Cleyeland's friends here. Martin Van
Buren, was the only one of his Democratic
predecessors 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 millionaire when nomina ted
had for many years lived in Gramercy
Park, very exclusive, aristocratic and
wealthy section of the city at that time,
and although he had no family, yet Mr..
Tildeu was, when he chose to bea lux
urious entertainer.
Benedict confines his intimacy with
Mr.. Cleveland along the line of con-
geniality, and he will probably continue
to play cribbage with him, to fish with
him in the summer and to take him sail
ing upon his yacht. 1t is probable that
Mr.. Benedict, before the close of Mr..
Cleveland S term, will Ibecome an office
holder, since it is the intention of the
Democratic party in Connecticut to nomi-
nate him for governor next year..