Year: 1873




led Mr.. Ames to interest himself so
largely with western railroads, from
his connection with which his name
has since become SO widely known
Being in possession of "a very large in
come he was almost forced into seek
ing various and extended means of in
yestment. More than this, he was by
nature of singular bold and venture
some temperament. Ite took keen
delight in entering into operations
where, though the chances of profit
might be large, there were great risks
attendant upon their success. In this
he was actuated neither by slight i'm
puless of favor or fear. At moments
when millions of dollars of his prop
erty were trembling in the balance be-
tween profit and loss, he was outward


ly as calm and undisturbed as If his
business arrangements had been be-
yOnd the reach of human interference


He thus exhibited in vast financial en-
terprises the spirit found, it is true, in
all walks of life, but only among men
of moro than ordinary moral and phys
ical courage. Among the earliest rail
road investments at the west with
which Mr.. Ames was connected was
the Cedar Rapids railroad in Iowa.
This proved very fortunate invest
ment and as it is now one of the con-
Meeting links between the Atlantic and
the Pacific, it is safe to suppose that
this suggested to him the project OF
building the great road across the
Rocky mountains. This period was
perhaps the darkest time during our
civil war, and it would be well for
those wao have since assumed so. ear
ly the part of fault-finder to bear this
in mind. The grants then given by
government to the Union Pacific rail
road were thought anything other
than excessive in character, and indeed
were so little regarded that years went
by before any capitalist could be in
duced 10 venture his fortune ON so un-
certain an undertaking. 1t can hardly
be open to dispute that If Mr.. Ames
had been wanting in courage this real
ly wonderful achievement would not
even now have been completed. In
1866 when Mr.. Ames first interested
himself in the Union Pacific railroad,
little or nothing had been done but
from that time forward the utmost en-
terprise was shown. All the private
means that Mr.. Ames could command
was diverted TO this purpose, and a
| score or more Of our wealthiest mer-
chants who are now financially con.
nected with this company were induced
to embark in the undertaking solely
through the solicitations and influence
OF Mr.. Amcs. 1t would be beyond the
province Of this sketch to give histo.
ry of this railroad or the Credit Mob,
| ilier with which it is indissolubly uni.
ted. Enough has been made public III
the various congressional investiga.
tions that have been held on this sub.
ject to acquaint every one, not only
with the facts in the case, but with tho
numberless theories drawn from them
It may be justly said, however, that
until the road was all but completed


neither the stock of the railroad or o.
the construction company was cOnsid


cred safe investment by careful bust


ness men, and none knew better thar


those who were associated with Mr.


Ames in this work, that il it had no


been for his indomitable energy ant


perseverance both companies woult


have been obliged, through bankrupt
| cy, to have discontinued the road


The amount which Mr.. Ames investe,


in order to carry the work to a sue
cessful issue, was more than his privat
fortune altogether justified, and on thi


account his ordinary business affair


have been at times, during the pas
J five years, in state of embarrassment
which would have been almost impos


sible had the demands for vast enter
prise been less exhaustive. Some tw
. years since the firm of Oliver Anne
& Sons were obliged to ask their cred
itors for an extension of credit, in or


der to save them from failure, and a


1t was clearly shown that their asset
: far exceededed their liabilities, thi
, was freely granted them. The tim
given expired last winter, and at ths


time every demand was fully satisfied


and the credit of the house at the pres
ent day is on as firm footing as cvel