The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-10-04
DEAN OF The SPECTATORS.
EDWARD n. WESLEY DIES IN
his RJNETY-SEVENTH YEAR.

An Older Hand In wall street Than Russell
sage-One Of tho Founders % the
'"Timcs" and Of the Union Trust Com
pany- speculated All His Days n Won,
PORT CHESTER, Oct. S.-Edward b. Wes-
ley, known a. the dean OF American specu'
lators, died to-day at his country homs
near Port Chester. The cause OF death
was old age. Mr.. Wesley was in his ninety.
seventh year. Mr.. Wesley Ia said TO haYe
left an estate OF more than three millions Of
dollars consisting Of Standard Oil, New
Haven railroad and copper stocks. oil
interests in western Pennsylvania and
southern Ohio and real estate in West
moreland county. Virginia and W~estchesteT
county, New York. Almost up to the day
OF his death the aged fnanoier had been
making weekly trips to New York to at
tend to business.
He was a director and one Of the organ
izers Of the Union Trust Company Of New
York, and for fifty years never missed
a Thursday meeting OF the concern. He
was the capitalist behind the New York
Times when il was founded. Standing
more than six feet in height, with broad
shoulders and massive frame, the aged
B~peculator was one Of the noted figures
in Westchester county and In Wall Street.
His first money was made when he was
a boy Of thirteen, selling birch beer and
cakes to crowd Of people who had gathered
at his birthplace, the little village OF Leices-
ter, Worcester county, Mass, to see Gen.
Lafayette pass. The profits OF the day
were 81.
Mr.. Wesley landed in New York in Is2S.
having walked a large part Of the distance.
as his money had given out. Speaking
Of his early experiences In New York, over
eighty years ago, Mr.. Wesley said recently:
when 1 arrived in New York l went
to the City Hotel to see il / could find an
uncle. The City Hotel adjolned Trinity
Church and was at that time the finest hos
telry in the city. Greatly TO my disappoint-
ment, l found that my uncle had gone to
Buffalo, The proprietor OF the place was
very kind to me, however, and helped
me to get a boarding place in New street,
where ] paid g e week, n got very good
board too, My first employment was at
the old tavern, but l soon gave up the job
n went to Albany, working my passage
up on the old steamboat Jefferson, which
was then known as Queen OF the Hudson,
l finally managed to get a job as Office boy
many prominent men in the company at
that time. among them John Mason
who founded the Chemical Bank, and
Michael Var Beuren, who built the first
block OF stone houses in Blocker street
From the Albany Office i was advanced
TO q position in the'New York ONCE at q
a month. 1t was not long, however, before
l saved enough out OF my salary to begin
to speculate, and l a v been specializing
ever since.
The reason that l could saVe was b.
cause / never drank, smoked nor went To
theatres like the other young men in the
office. My first deal was in fish. l kept
watch on the outside market, and when ish
were cheap in New York and dear in Albany
l could buy and ship il up on our steam
boat. After that / speculated in butter,
eggs, vegetables and, in fact, nearly every
thing in the market, and at the end of my
first year ! found that l was over 81 ,OOC
ahead"
After that Mr.. Wesley began trading in
notes and money, which brought him in
contact with Commodore Vanderbilt, Jay
Gould, Russell Sage, Cyrus W. Field and
many other noted fnanciers. In Wall Street
it was said that no man could'read the ticker
better. Until recently. when rheumatism
began to bother him, he had never been i'll
a day.
Mr.. Wesley was a widower and leaves
only one child. Mrs. Ida Breck of Chester
Hill, Mount Vernon. He was a member of
the Protestant Episcopal Church and a few
years ago ave a handsome altar and rere-
dos to the Church Of the Ascension Of Mount
VeUon as a memorial to another daughter.