Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-02-23

Chicago. Feb. 23.-Word was re-
ceived in Chicago last night of the
death of Samuel Waters Allerton, for
more than half century prominent in
Chicago's industrial affairs. He died
at his winter residence in Pasadena.
Cal. of diabetes. to which he had long
been subject.
Mr.. Allerton. pioneer packer, farmer,
financier, and one time candidate for
mayor of Chicago against the elder
Carter Harrison, rightfully could lay
claim to more work for making the
citizen.
He came here a cattle buyer in 1856.
An opport unity to corner the entire To-
cal nog market al a low price in 1860
gave him his first big start. He plunged
ahead and ten years later thru him and
John B. Sherman the Union stockyards
became a reality. 1t was the start of
the great packing industry and it was
the start Of Mr.. Allerton's vast wealth
To him was due in great measure
the first cable car operated in Chica-
go. To him was also due much Of the
inspiration that developed the farm
lands OF Illinois.
Mr.. Ailerton made his own way. He
was proud Of it, but when he had time
TO think it Overland that was no:
until late in his busy life-he found he
had pride, too, in his descent from
Isaac AlieIton, who landed with the
Mayflower.
Worked on Farm When Boy.
Samuel Alereon was born IN
Duchess county. New York, in 1925.
and was put to work on the farm al
most as soon as ne was able 10 hold a
hoe. He said he worked hard, and II
his later life was any proof. he did
work hard His labors saved him
$4,000, ne borrowed $1,000 more. and
With this began buying cattle in the
adjoining counties FOR shipment 10
New York.
Each year be came farther west in
his buying trips, and arrived in Chi
cago in 1856. He bought his first cat
tie shipment in the old Merrick yards
on Cottage Grove avenue, and had to
depend upon express shipments Of
money from New York
1t was in 1860 that Alierton had an
opportunity to make his first marked
stroke Of business as a stock buyer.
One day the hog market dropped 81 so
in Chicago. The banking house Of
George S. Smith had all the ba nkable
funds available, and Allerton went TO
the cashier. proposing to Mr.. Willard
that he send three kilograms at Aller-
tons expense making inquiry Of the
Alierton soundness in the east with the
promise that If these were satisfac-
tory Willard should cash a sight draft
for Allerton the next day. The answers
were satisfactory to Willard, who said
that he would cash the draft
"cerners" the Hog Market.
The next day Mr.. -Auerton bought
every hog on the Chicago market and
went into the Smith bank with a
draft on New York for $50, 900.
Eighty thousand dollars worth OF
hogs brought in a day by one man.
MIR. Willard collapsed. 1t was ten times
his widest thoughts could have con-
jured up.
But depended on you; TIL have to
pay for those hogs" persisted Mr.. Al
lerton. Willard insisted that ii was i'm
possible and Mr.. 1Allerton went out into
the street against the hardest PROPOSE
ton of his life. He met friend on
the corner.
DO You know anybody who has an;
money!" ne asked in his blunt direct
ness The friend did and offered t.
introduce Mr.. Allerton 10 the newer
firm Of Aiken & Morton, which. after
reviewing the kilograms and the
answers advanced the money at l
per cent. This was the beginning of
the millionaire Allerton of the union
stockyards and of the First National
bank of Chicago.
Suggests Union Stock Yards.
There were three livestock receiving
yards in Chicago at the time. and The
banking facilities were inadequate. as
Al,erton saw the need. Nelson Morris
came TO Chicago as competitor Of
Allerton in stock buying and Chicago
as a stock na-ke. began looking up.
In 1865 Mr.. A!ierton wrotes a serie s
of letters pointing to :he advisaoility
of a union stocGyards for the city, ard
in 1855, thru Mr.. Ai!erson and John B.
Sherman, the union stockyards idea
was accom- plished in reality. The sue
cess Of the Chicago venture led TO Mr..
Allertons interesting himself in the
stockyards at Pittsburgh Philadelphia,
and Baltimore, in the New York yards
at Jersey City. and. years ia:er. in :;,e
yards at ST. Joseph, Mo-, and at Omaha.