The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-17
PROBASCO'S ILL FORTUNE
CTNCJNNATI's 0NE-TIME MILLIONAIRE
NOW IMPOVERISHED.
He Beggared Himself b. Many Public
and Private Donations-His Home
Sold for One-Eighth Its Cost.
Cincinnati NEUTRALITY-SUSPICIOUS..

3tAtS
lakewood, the beautiful Probasco home,
in Clifton, on which over 5000 was ex-
pended, was yesterday knocked down at
auction to Louis B. Reakirt for $4,000, and
thus passes from his possession the last
asset of Henry Probasco. art connolsseur.
Bibliophile and philanthropist. who retired
from business over a quarter of a century
ago worth easily a million dollars. He gave
Cincinnati the magnificent Tyler Davidson
fountain. an art treasure which has added
to the fame of the Queen City the wide
world over: he made public and private do
nationss Ito every kind of cause. until IL is
estimated that his gifts and benefactions
aggregated over 100000. and now. in his
old age, he finds himself a hopeless bank
rupt, homeless and practically penniless in
the city which he so rastingly enriched by
his muniicence.
He is credited with having been a remark
ably good business man. and every trans
action down to the present time exhibits the
man Of most careful and methodical habits,
for his accounts are models of bookkeeping.
accuracy and precision, but giving grew to
be a passion with him, and he literally gave
his all away. The Tyler Davidson fountain,
which was cast in Europe from the design
Of an eminent sculptor. cost s25O.OOo; a
drinking fountain for men and horses.
which he erected In Clifton. cost $50, 90
more; he gave $50. 900 to a church in Clifton.
and when the members failed to raise the
balance he cleared 1t of Indebtedness by CIV
ing 5000 in addition. His mail was loaded
with opportunities for help. and he gave
with his right hand and his left to every
worthy applicant.
Henry Probasco came to Cincinnati be-
fore the war, and he made his fortune as
a member of the hardware house which
had been established by Tyler Davidson.
He married Davidson's sister, and when
Davidson had died and he had sold out the
business and retired a wealthy man he
made the donation of the great fountain as
an evidence of his love for the city of his
adoption and as a monument to the men,
ory Of his friend and business associate. He
went out to Clifton, and on the brow of a
hill built his palace and surrounded it with
a park Of marvellous beauty. There were
thirty acres in the grounds, and he adorned
the plat with every kind of tree from every
land.
The house he had built from the plans of
a famous architect of europe, and he filled
1t with rare art treasures gathered from all
the quarters of the globe. Even to the
kitchen the house was finished in the finest
OF hard woods, and the furnishings and fix
lures were unsurpassed in America: He
rare pieces of furniture, an illustra-
ton being furnished in an inlaid table, con-
tanning more than two million pieces, for
which he paid 5000. He hunted the curio
shops Of Europe for bric-a-brac, and book
sellers counted on him as a sure customer
for any especially rare and costly volume.
His first wife having died. he twelve years
well-know Sherlock family, of this city,
and until but recently they have lived in
the elegant but quiet splendor OF
luxury which could be suggested by re-
fined taste.
Mr.. Probasco counted himself as well
other means had been encroached upon. So,
when he needed ready money, some years
ago, he put a mortgage on his home. Times
got nara 81 and dnl,d Il WA was ane t Ela s ns over
the mortgage, and finally, a year ago, he
made an assignment to Seth c. Foster. in
the hope that he would be able to dispose
of his property and realize something hand
some over and above his Indebtedness,
which amounted to about 100000. Some
months ago his books were sent to New
York for sale at auction, but they went for
a song. His personal property had been
turned over to his wife on a bill of sale, TO
be applied on a considerable debt ne owed
her. The furniture and household belong
ings were sold at auction a few weeks ago,
but for all the rich and costly belongings
the sum realized amounted to but little over
$1,000, and this money. belonging to his wife,
is ali that remains of the vast fortune Of
thirty years ago.
His wife is much younger, and they both
face the situation with marvellous f0rtitude.
They live in a hired house in Clifton. and
terry. of which Mr.. Probasco has long been
president, have insisted on his accepting a
salary for his services.
Mr.. Probasco gave because he loved to
give. Perhaps II is this fact that keeps the
bitterness away from the present situation.
None of the family was present at the
sale yesterday. which was announced by
the auctioneers. William Ebersole & Co.,
for 3 o'clock. on the premises Assignee
Foster and Judge James B. Swing, his
attorney. both of whom had befriended
Mr.. ProbaSco in every way they could. were
on hand, and there were besides some fifty
real-estate men and others, who had been
attraG5sd Of by the the k,n ssle; which shs % GiTcih impart hns
seen In recent years. z. Senior. who Is In
terested in the mortgage on the property,
car line; Louis B. Reakirt. Thomas j. En-
cry. Harry Levy, Charles H. Law, M. Fech-
heimer and o. J.. Wilson were also among
those noticed in the crowd.
The auctioneer began with a forclble pre-
sentation of the intrinsic value and attrac-
tiveness Of the beautiful property, and asked
for a bid. Mr.. Senior started 1t of at $50 goo.
two-thirds of the appraised value. Harry
Levy followed with a bid of $66. 600. and from
this point the auctioneer finally succeeded
In working 1t up to 5000; which sum a. was
DlQ w I1dAly SiCncdS q iCoi-tStdtO oetAs,
acting for Louis B. Reakirt. and TO him it
was knocked down at this priceless than
the first mortgage amounts to.
Mr.. Reakirt is one of the best-known
young men in Cincinnati, and, being the
son and sole heir of Mrs. Lauretta B. Glib
son. will ultimately come into a vast for
tune. in addition to his present estates.
He Is said to have negotiated for the Pro-
basco. property at private sale some time
ago. but finally concluded to wait for the
auction, and he thereby succeeded in getting
it for considerably less than the price which
had been previously named. He expects to