The San Francisco call., 1905-03-02
HOW. WEALTH
Of STANFORD
v AS AMASSED
Starts as "a Poor Attorney
and Eventually Becomes.
a Millionaire.
RAILROAD
With Huntington and Hop
kins Acc0mplishes Feat
of Financiering.

The story of the making of the Stan
ford millions is typical of early Califor-
mia. Leland Stanford came to the State
in 1852 a poor lawyer. In 1861 he was
Governor of the State and president of
the company that projected the first
transcontinental railway.
Stanford came West on the advice of
his brothers, who were conducting a
store in Sacramento: The brothers
''grub-staked him and the future rail-
way magnate went to Michigan Bluff,
where he engaged in mining. He accu-
mulated a little money, but tired of
mining and went back to work for his
brothers at Sacramento.
. He took an active interest in politics
and was soon recognized as a leader.
He was delegate to the National Con-
vention of 1860 that nominated Presi-
dent Lincoln. In 1851 he was elected
Governor of California.
Prior to 1861 Leland Stanford was
convinced of the feasibility Of q trans
continental railway. He concentrated
his energies ON the project and in 1851
was made president of the Central Pa
cific Railway Company.
The Legislature of the State granted
a charter for the. line in California.
This was only part of the battle. The
support of the Federal Government was
needed, and it was obtained through
the persistence of Stanford. Coils P.
Huntington and Mark Hopkins.
Though the national credit was
stretched to the limit at the time, an
act of Congress appropriated and gave
to the company twenty miles of terri
tory along each side of the proposed
railway. The nations credit was lent
to the scheme in the form of thirtyhve
year bonds, the company agreeing to
pay $4,000 mile for every mile con-
structed.
The work was done-in the face of in
Vulnerable difficulties.
Material had to be brought around
the Horn" at enormous cost. The
bonds issued for the work were only
recognized for third of their face
value.
On May 20. 1869, Governor Stanford
with his own hands drove home the
last spike in the Central Pacific Rail-
way and the silver hammer connected
by wire with the telegraph systems
of the country flashed to the remotest
parts of the land the tidings that the
East and West were united by bands
of steel.
Shortly after the road was completed
the State gave the new company a
half million dollars as a gift. Several
counties contributed sums that almost
aggregated like sum.
Later Stanford took an interest in
shipping and became one of the larg-
est shareholders in the Occidental and
Oriental steamship line. He was
elected president of the company and
retained that office until his death.
Stanford married Jane L-athrop while
he was a penniless lawyer. The story
is that he borrowed $50 of Charles. Mil
ler sof Port Washington. his counsin.
to defray his wedding expenses. Miss
Lathrop was the daughter of Dyer
Lathrop of Albany, New York.
Mrs. Stanford came across the plains
with her husband and endured with
him the hardships that all pioneers
wives endured. A shrewd woman of
business herself she was often con-
suited by Governor Stanford and her
advice helped In the accumulation 9of
the Stanford millions.
l. Besides the railway. interests the
Stanford estate includes some Of the
finest vineyards in the State, horse
I farms famous ALI over the eworld, a
country seat at Palo Alto and a
mansion eat Powell and Sacramento
streets. The university property at
Palo Alto Is valued at over $40, 600, 900.