The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-10-08
Compiled for Denver News.)


The first dollar earned by Coils P.
Huntington was for piling wood for
neighbor. History does not STATE now
long this woodpile was. but it may be
imagined that it covered q great deal
OF ground, as a dollar in Connecticut
in those days was as large as the pro-
verbal cart wheel.
At the age Of II years the boy left
school to go out into the world, which
he had determined TO conquer. His
father gave him his time with the
understanding that he should support
himself. He found employment on q
farm at 81 per month and board. At
the end of the year he haG saved $S4,
the entire amount of his wages. The
next year he entered a general country
store. where he studied the people who
traded there and acquired business
ShTewdness, which he added 10 his nat
ural-bOrn thrift
He became a power in California.
helped to span the continent with
railroad, returned to the eas.. gave his
adopted daughter to a titled European,
and, while he possessed several palaces
for homes, lived always IN frugal style
He was probably the original l5-cents-
a-day luncheon man. He liked apples
and era ckers and milk for his midday
meal
OF powerful physique, a Yankee love
ture, and very human himself, he was
a typical shrewd American who became
a Monte CriSto by his own endeavOrS.
He did not go into society, was a hard
man at a bargain, but full or humor
and quaint sayings.
For sixty years he toiled necessarily.
His vacations simply shifted the scene
of his work He guarded his health as
well as his wealth and lived to oe 20
years old.
Young Huntington came to New
York in 1887, a boy OF &C. but a man in
enterprise He had $175 in his pocket
and lots of good advice in his head His
mothers parting advice made (. deep
impression on him, and he avoided the
snares of the town and was a total alb
stainer from liquors.
HuntingtOn's employer in Harwin-
ton, Ebenezer Noble, who kept the gen
eraI store, had given him a letter of in
with whom he traded and offered to
stand sponsor for the young man in the
way of credit.
With faith in himself Huntington
bought d lot of watch findings and
Travelled through the south. IN this way
he made his first 81. 600. He met all his
bills, and with his profits took large
number of o'clock notes. for collection.
His travels through the country on this
enterprise gave him knowledge Of the
character and resources of various 10
calities.
Mr.. Huntington began business in
Sacramento under his own name but
subsequently the hardware house of
Huntington & Hopkins was established.
In seven years the firm had accumu-
lated a fortune.
Then followed the great coup of Mr..
HuntingtOn's life, the building of the
Central Pacific railroad, in which he
and his aSsOciates-his partner, the
CrOckers and Leland Stanford-after
many years interested the United
States government in building. The
plan was perfected in the store of
Huntington & Hopkins, and the men
interested united in paying the ex-
penses of preliminary survey across
the mountains.
In 1851 these men organized the Cen
trail Pacific Railroad company. Stan
ford was made president and Hunting
ton vice president.
The latter went to Washington and
put through congress in 1852 the bill
authorizing the cons truction Of the road
and contributing bonds TO help in the
enterprise The day the bill was signed
he telegraphed to his partners:
THE bill has passed and we have
drawn the elephant
The act passed by congress gave to
the Central Pacific Railroad company
franchise to construct q railroad and
telegraph line through California from
west TO east, having the right to con-
tinUe eastward until it met the Union
Pacific.
In aid of the project the government
agreed to give every alternate section
of public land TO the number Of FIVE al
ternate sections per mile on each side
of the road, the secretary of the treas
ury to issue to the company bonds of
the United States payable thirty years
after date, bearing per cent interest
and sold S1,500,O00 of the bonds in cash
after pledging the credit of hfrns
his firm for their payment.
The construction was. begun
pushed, though Huntington & Hop.
mortgaged themselves to get the funds
At last. in Nay, 1869. in Utah. was
driven the last spike which connected
the Atlantic and the Pacific by rail.
When the road was finished only five
men remained in it-HuntingtOn. Hon
kins. Leland Stanford and the Crockers
Other men who had assisted at the be-
ginning had dropped out, and the i've
men were willing that they should do
So
The survivors formed the Credit e
Finance company, which became the
Credit MObilier of the Central Pacific
As directors of that road they made a
contract with the finance company
themselves-to build the railroad Civ
ing therefor 81, O00. 600 of government
bonds which they had received as
subsidy. so 600 of the companv's
first mortgage bonds and 5000 600 of
land bonds which they issued on the
government grants.
This was done gradually as the work
prospered, but the above sum. with
about S21 GOO more OF bonds on IN
subsidized road which the cornDar1-
bought, was paid TO the Credit a ri
nance company for building the road.
Out OF the surplus thus gained the
I'VE men bought all the other railroads
in California, all the river and 49,