The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1908-02-07

a valuations-is conserv-
alive estimate of the
money that goes every year into the
pockets of New York lawyers. 1t is
based on the opinion of a noted at
torney, who is pessimistic rather than
given to exaggeration. On one side
were fees of $750,00O and $1,000,000
earned in single cases. Among the
great lawyers 100000 fees are not un-
usual
The fees of the great attorneys in
the past seem pitifully small. Rufus
Choate, even when recognized as one
Of the greatest of American lawyers,
took cases for $50 again and again. 1t
was only toward the close of his career
that he thought that sum too small.
Aaron Burr, a successful practitioner
in his day, accepted cases for much
less. Daniel Webster, in the height of
his legal career in Boston-in the days
of the Dartmouth college case-earned
$4,000 year. Before his life ended
be accepted contributions of money
from his friends. The same was true
Of Henry Clay.
Lincoln's Small Fees.
Like Lincoln, both of these famous
men sacrificed much to public life One
of Lincolns largest fees while a law
yer in Illinois was a land warrant
for his services in the Black Hawk
war. He took tract of land in Iowa,
opposite Omaha. His fellow-lawyers
took him to task for accepting small
fees, or none at all, saying it demora-
liZed the profession. "Ofd Abe" as he
was then called, defended two boys on
murder charges and would take moth
ing for it. When he came to New
York in 1860 to deliver his famous adj
dress at the Cooper institute, an old
friend asked him how he Jared in the
world
'Oh, very WELL" Lincoln is said to
have replied. Il have a cottage at
Springfield and about $4,000 in money.
If they make me vice-president with
Seward, as some say they will, shall
be able to increase it to $4,000, and
that is as much as any man ought to
want"
Lincoln's fortunes were about in
this condition when he went to the
White House as president.
When New York lawyers talk of at
torneys who have earned big fees they
usually mention William Nelson Crom-
we'll among the first. He is "a physi-
clan of Wall street." the new type of
lawyer bred by the growth of great
corporations, the most skillful reor-
ganizer of wrecked business enter
prises in the legal profession. But
among laymen he is better known as
the man who earned $1,0O0,O0O when>
he bought the Panama canal.
Mr.. Cromwell, small, secretive and
rather nervous man, has been COM
pared to a mole for the way he bur-
rows into intricate business prob
lens. He combines legal judgment
with brilliant financial skill.
Fortune in Single Case.
A man with such a unique genius
might be expected to make exception
ally large fees. His first big case, for
instance, brought 100000 This was
in November, 1890. The brokerage
firm of Decker, Howell & Co. was
forced to suspend with liabilities of
$10,000000. Mr.. Cromwell was made
assignee. He managed the affairs of
the concern so skillfully that he de-
clared a dividend of 100 per cent. He
was paid $7,22216 for this work.
The many great cases that have
since added to Mr.. Cromwelrs fame
were overshadowed by his fee for the
Panama canal deal. Busy as he was
here, Mr.. Cromwell found time to look
into the higher politics of Central and
South America. How he got track of
the situation IN Panama is mystery
When he became general counsel for
the new Panama Canal Company in
1896 the isthmian route hardly had
friend in this country. He quietly
started the campaign to have the
United States buy the property, won
over the French bondholders, gained
supporters for the scheme in this
country and finally offered the United
States the option of the canal for
S40,000,000. What came after-the
failure of the Hay-Herran treaty, the
Panama revolution, said to have been
planned in New York, and the hasten
ing of the negotiations-is familiar
history. But as monument to the
genius of Mr.. Cromwell was fee the |
like of which can hardly be paral- |
leled in the history of the legal profess
sion. 1t was not fee, properly speak !
ing, but a commission. The largest |
estimate of it is $1000,000. In reality |
Mr. Cromwells profits have been esti- |
mated as nearer $2,O00,000.
Guthrie's Big Victory.
Equally remarkable in its way was |
the fee William ID. Guthrie received in |
the Plant will contest. He was of |
counsel for Mrs. Margaret ]. Plant, |
of Horne, DroI1ax Dlop4 L