San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-07-22
MILLIONAIRE PAUPER.
Alexander Gamble, Once Worth 3d.
100000, In an Almshouse.

100000, In an Almshouse.
How tickle is the goddess of for
tune was never better shown than in
the case of Alexander Gamble, I3
years of age, an inmate of the city
and county almshouse. Forty years
ago he was reputed to be worth be-
tween S3,OO0OO0 and $4,000,000, being
reckoned as one of the wealthieSt
men in California. Away back in the
fifties. when Gamble was the owner
of extensive mining properties up in
Nevada, one of the many men who
worked for him in the diggings was
Patrick Reddy, then a day laborer
Now, after the lapse of two score
years, Reddy is at the head of the in
stitution which shelters Gamble.
In 1919 Gamble came TO California
from Belfast, Me-. bringing with him
nothing but a pair of strong hands
and n college education. He was So
Der and industrious, and within few
years. by hard work, directed by SUI
perior intelligence, gained controlling
interest in several of the richest mines
in Nevada. These were the Wide
West, the Del Monte, the Sunrise, the
Pond, the Honest John and several
others of less note. They were all at
Aurora. Esmeralda county, Nevada.
At that time Gamble was on the crest
of the wave of good luck. His credit
was almost without limit. He could
borrow thousands of dollars from the
banks of this city upon the security
of his mining properties. Gamble
availed himself of his ability TO Dor
row, and obligated himself for up
ward of S150,000 in working his mines
and accommodating valuable realty
holdings.
In 1865 he bought part of the great
Pulgas ranch at Menlo Park and eX-
pended over 100000 in stocking it
with fine cattle and horses and in
erecting on it pretentious buildings.
But Just at the dawning of the seven
ties CANDLES fortune was reversed.
His mines deprecated in value, his
creditors pressed him, he found him
self unable to meet their demands,
and the inevitable followed. His cred
itors sold him out, and he was left
with what he had when he first en-
tered the state, twenty-five years be-
fore-a pair of strong hands and
college education. To those posses
siens, of course, was added the eX-
perience he had gained in the inter-
vening time. At the time Gamble
made over his property to his credit
ors he was indebted to the Bank of
California about $4,000.
In 1S4S, Gamble graduated from
Waterville college, Waterville, Me.
This school is now known as Colby
university. Gamble is a member of
the Phi Beta Kappa society of the
university, and he received a letter
from the society's secretary regard
ing it's affairs After leaving college
Gamble taught for one year at the
COrinth academy. That was just be-
fore he left Maine for California.
Gamble is a native of Ireland. He
came to this country when he was IL
years old, and settled with his people
at Lenneus, Me. There was founded
the Gamble homestead, and there still
resides a married sister of Gamble.
Gamble paid most of the purchase
price of the homestead from his earn
ings as a school teacher and as a mi
ner in Nevada. He thinks that prob
ably he has an interest in the proper
ty on that account, but he does not
worry much about it, as he has passed
that period in his life when money
could give him pleasure.
Gamble has living two sons, Ivan
andTheodore, aged respectively "a
and %. Ivan is an actor in a New
York theater and Theodore is a musi-
clan in Seattle.-San Francisco Chron-
icle.