The silver state news. [volume] (Winnemucca, Nev.) 1907-1909, 1907-12-16
THE FATE OF RALsToN
The Tale Of One VINO staked His
All and Lost

From the Reno Reveille.
With the romance of the story Of
already, alas, is "as a tale TINT IS
told,'' must ever be indissolubly asso-
ciated with the name Of W. G. Ralston.
In Virginia City, even today after the
lapse Of more than a generation since
the day the waters of San Francisco
bay folded in theid chill embrace his
despairing heart, he is spoken of with
respectful affection.
For all that, but little is really
known of the man, what he did and
how he persisted. Many have blamed
William Sharon as having wantonly
deserted Ralston in the hour of trial,
and many have thought his death
came from a heart overtaxed while he
was swimming. To these, as to many
others, the following extract from
Goodwin's Weekly, whose editor knew
the whole truth of the affair, will
prove not merely instructive, but, it is
to be hoped, interesting and edifying:
A Close Parallel.
The circumstances leadink up to the
death of Charles Tracy Barney, late
president of thhe Knickerbocker Trust
company, were very like those that
VIM. C. Ralston in San Francisco, ex-
eept that Ralston was a natural plung-
err and Barney seems to 'have been a
most careful business man. Ralston
used bank funds, Barney seems to
hive permitted funds of the bank to be
used by other up to the danger point.
OF Barney's business methods Mr..
Morse, one of his associates, when the
news of his death waas told him, said:
"In all our dealings hee always act
ed as a man Of thhe most scrupulous
honor, and his methods of transacting
business compelled the respect of all
his associates. Mr.. Barney died of a
broken heart. His dethronement from
the presidency of the Knickerbocker
Trust Co. was in my opinion most un
just. His life was wrapped up in the
success of thhe Knickerbocker. 1t was
his especial pride. He had built it up
from An obscure beginning to M Of
commanding influence in the financial
world. When he walked out of the
board room Of the trust company on
that lastt day, he wkas a broken
hearted man, and in the time that
elapsed since then his anguish and
grief multiplied until his position had
become unbearable.'
A Comstosk Benefactor.
In the same way w. G. Ralston
from small beginnings had built up the
Bank Of California until it was the
foremost financial institution on the
west coast Whhen the bank was be
ing organized, RalstQn selected D. 0,
Mills for president, then a prosperous
banker, worth perhaps 100000, of
Sacramento.
Mr.. Sharon went to Virginia City in
the early sixties, and his acute brain
took in the possibilities of the place
in a day; he saw, too, that it was halt
ing for need of money. He wired Mr.
Ralston that a bank was needed
there. She reply was, "Come down
and fe will talk it over.o The result
was that q branch of the California
bank was started in Virginia City
within a month, with Sharon in charge
There were no millionaires on the
coast in those days. Sharon at once re
duced interest from 5 per cent a month
to IL per cent per annum, took up the
indebtedness of the town, started the
mills and the mines and in a year had
loaned out $750,00O. Thhen Mr.. Mills
called a halt, insisted that the business
on the Comstock should be closed out
the losses marked off, and that there
after tho bank should pursue a legiti
mate banking business.
Mr.. Sharon explained that it would
mean 0 mighty sacrifice to close the
bank, while if let alone for another
year he would save the bank agains'
loss and make the bank richer thar
its directors ever dreamed of. Ralstor
stood by Sharon and the business wen
on until it made Mr.. Mills a ten times
millionaire.
The Day Of Wrath.
The Ralston opened up new Mont
bomery street, he began to build thu
Palace hotel, to cost when completed
and furnished, 50, 1000, 900, but which
he had spent 100000 on when HI
died and the roof was not yet on; tn,
great bonanza began to fail, and will
II all the stocks on the Comstock; thu