The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-09-29
ONCE WEALTHY MAN,
HE DIED A PAUPER
Fast Horses and Speculation
Ruined Walter Craig.
HIS END CAME IN CABIN
Deserted by Friends, He Found Shell
ter in Humble
Home.

TROY. Ohio. Sept. 29.-Walter Craig. |
who a few years ago was worth nearly |
$500. 600. died here in a tumble-down
cabin, the home OF former housekeep- |
err lie had lost everything
Fast horses and speculation combined
10 exhaust his fortune. At one time he
owned a farm ten miles square and built
the largest barn in Nebraska The city
of Craig. in that State. was named for
him
The story of his life of eighty-fve
years is an interesting one and filled
with adventure from the time he left
school in his teens until ten years ago,
when he returned from the West al
most penniIess and broken in spirit and
health. The friends of his boyhood days
deserted him and at his funeral he was
followed TO his grave by only the house
keeper. who was faithful to the last.
Worked as a Cooper.
At the age of twenty Craig left home
with some money, an eloquent tongue,
perseverance. and a lot OF ambition.
Going to Cincinnati, he worked few
years as a cooper. Later he engaged in
the commission business and real estate
deals. and in few years had accumu-
lated sufficient money to buy several
farms.
He cared little for social pleasures.
although as a promising young man he
was invited 10 many functions. In 1870
he married Miss Elizabeth Reagan.
daughter of a prominent farmer near
Covington- Mrs. Craig died and Craig
went East. engaging in business in
Pittsburg and Baltimore
Notwithstanding his rapidly increas-
ing wealth. he caught the gold fever in
1s49 and set out for California. His
company was unfortunate Their guide
was accidentally killed and the party
was set upon by band of savages and
almost annihilated. Craig and five
companions escaped on horses.
The trip was abandoned and Craig re-
turned to Ohio, where he remained but
a short time. He again went East. and
in the panic OF 1857 met his first finan-
cial reverse.
Disposing of part Of his land. he went
TO St Louis and established packets be-
tween that city and lower Mississippi
points. His business thrived. but at the
outbreak Of the rebellion he sold his
boats to the Government for transports.
He remained in St Louis and engaged
in the commission business. He again
married. but his wife soon died, leaving
a son.
In 1870 he again pushed West. and
discovered a gold mine in Southern Cali
fo-nia. which was afterward sold for
For two years following he speculated
IN mining stock and greatly increased
his fortune.
Owned Nebraska Township.
Returning to Nebraska he bought
land that covered township ten miles
square. built the largest barn in the
State. and at times had moro than 5000
cattle on mis- ranch small army Of
men were given employment and vii
lage sprsng up around him. Then he
built a fair grounds and race track
which did not prove a success
He soon tired OF ranch life and be
came interested in Mexican mines. III
went on a prospecting tour into tn
Sierra Madres. near chihuahua. an,
found such promising indications tina
he returned 20 the States and organized
a company for development. His part.
discovered and worked some silver veins
being among the first American miner
10 operate south Of the Rio Grande.
Craig owned summer place in Chi
huahua. and lived the life of a kim
until the death of his third wife. in 1881
lie then returned TO the States. He con
ceived the idea Of taking some horses e
Mexico. Against the advice OF hi
friends he went 10 Texas and in a mont
had collected one thousand horses. an
with a company OF herders set out 70
chihuahua. q distance OF 225 miles. mos
OF which was across a country practi
cally barren OF vegetation.
The trail was marked with dead bodie
OF his animals. and less than half IN
horses reached Chihuahua. There h
learned What others had already toi
him-that the Mexicans had no use 70
a horse as a work animal.
The venture was a total failure an
was the beginning OF his financial de
cline His silver mines ceased to
productive aud he lost heavily by tn
failure Of a san Francisco bank The
began a career OF speculation IN West
ern mining stock. but his old succei
seemed TO have deserted him. and With
year his fortune was exhausted.