The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-06-10
A RUNAWAY TEAM.
Causes the Death of Austin Corbin. the
Wen-known Financier.

-NtNItOIl. ~ H. ullt i. AQSl LII
! Corbin and his grandson Corbin Edgell,
with DR.. Paul kunzier and coachman
John Stokes started on a fishing trip
about three O'Clock Thursday afternoon
On going out of the yard at the farm
house, the horses SHE'D, tipping over the
open carriage, throwing the occupants
| down an embankment about eight feet
against a stone wall. The family saw
the accident from the piazza and hur-
ried TO their assistance with the farm
help. They found Mr.. Corbin conscious
but terribly wounded. His nephew and
the doctor were also conscious The
coaehman WAS unconscious and appar-
emily hurt the worst of all. They were
carried to the house and doctors sum-
moned.
| Mr.. Corbin's injuries were very seri-
Gus, Il compound fracture of TIE right
/ leg above the knee, a fearful scalp
wound over four inches long on the
forehead. cut through 10 the skull; one
on the right side of the head three
inches long and the hip and chin cut
badly.
DIR. kunzier was thrown over the wall
and sustained a broken arm and
sprained ankle, SO far as known, and
Corbin Edgell has his leg twice broken
between the knee and ankle.
John Stokes right leg was broken
between the knee and ankle, an ohe sus-
tanned a fractured skull. Stokes died
from his injuries d bout six O'Clock with
Out regaining consciousness
The cause of the horses shying is said
to he from the fact that the coach1nan
was driving them for the first time with
out binders.
Mr.. Corbin died at 9:42 Thursday
evening, shortly after the arrival of DIR.
Cilley from Boston. His son. Austin
Corbin. Jr-. arrived on a special train
form Boston about IL o'clock, but too
late to see his father alive. All the other
members of the family with the eXcep-
ton of his son-in-law, Mr.. George S.
Edgell, who is in the west, were present
when he breathed his last
Mr. Corb1n was born July II. 1927. near
Newport, n. H, of an old New England an
| cestry. His father, a farmer, was many
times elected member of the legislature
of that state Mr.. Corbin received his
|
state. He afterward studied law with
| Chief Justice Gushing, of New Hampshire,
and Gov, Metcaf, of Rhode Island, and
finished the course at the Harvard law
school, where he received his degree in
/ ls49 He practiced while at home, but in
1851 removed TO Davenport, Ia, where he
remained until 1865. Though successful as
a lawyer, Mr.. Corbin did not practice long.
He became a partner in 1854 Of the banking
firm of Macklot & Corbin, which was the
4
which did not suspend payment in the
financial panic Of 1851.
Upon the passage of the national bank
| ing and currency act Of 1869 Mr.. Corbin.
though located far distant from the fnan-
cial centers of the country. was among
the first to apply for a charter under that
act. He organized and became the presi-
dent Of the First national bank of Daven-
! port, which opened its doors for business
| June %, lSs3-the first in the country. the
second being the First national bank of
| Philadelphia, which commenced business
| two days afterward, on July l. The bank
| was successful. and Mr.. Corbin was enabled
| in 1865 to come TO New York with q con-
| siderab bic fortune. Here he founded the
| Corbin Banking company and acquired in
terest after interest until he became one
| of the leading fnanciers Of the commu-
nifty. He had in the meantime become
| still larger lender Of money upon Iowa
] farms, not only on his own account but for
moneyed institutions and individual in
| vestors IN New York and New England
| the business having so grown as TO engross
almost his whole attention. II grew in
| volume and rapidly extended over the
states Of Minnesota, Nebraska Kansas
! and Oregon, and the territories of Dakota
Montana and Washington, and finally over
the whole west and south
Not content with the personal manage
| nent of the details of this vast business
he soon turned his attention to railroad
| affairs. His first experience in this direc-
ton of any consequence grew from the
| care of large investments in the securities
of the Indianapolis, Bloomington G. Western
| Railroad company, which he successfully
reorganized in the interest of the bond
holders of all classes. Afterward he be-
came actively interested in various rail-
road enterprises, but II was his counec-
| ton with the Long Island railroad that
| brought him most prominently before the
public as railroad manager and hnancier
He bought into the control Of the property
| in December, 1885, January 1. 1881, he went
| into possession as receiver and president Of
| the corporation
| Within the space Of eight months a revo-
| LUTON was wrought From a condition
which made ii the laughing-stock Of rail-
| road men IL became Thoroughly equipped
and completed system, with numerous
branches reaching every part of the island,
| and one of the most reliable paying prop
critics in the state. As in the case Of the
Indianapolis. Bloomington & Western
| railroad, he was virtually forced into Read
ing in 1906. He was looked upon as the only
man who could save the company. On
January !. 1855. he presented the property
to the stockholders not only in a solvent
condition, but with a largely increased and
1 rapidly increasing revenue
Travelling Men Adjourn
| Terre Ha11fe Ind lime 6-The Trav-