Great Fortunes, and How They Were Made

by James Dabney McCabe

Early struggles—Acquires an education—Undertakes the support of his family—The boy teacher—Hard work—Is made instructor of Latin—A trying position—How he conquered his difficulties—Is made principal of a public school—His first business ventures—Engages in the building of houses—His platform of integrity—His success—A great mistake—He indorses a note—The consequence of a false step—Liberal action of the bank—Mr. Stout resolves to accept no accommodation—Pays the notes, and loses twenty-three thousand dollars—Establishes himself as a wholesale boot and shoe dealer—Enters the dry goods trade—Close attention to business—His system and its success—Organization of the Shoe and Leather Bank of New York—Mr. Stout is made Vice President, and subsequently President—Character as a citizen—Is made City Chamberlain—Generosity to the police force—Interest in church affairs—Kindness to the poor—Encouragement which his career affords others.

[CHAPTER VI.]

JONAS CHICKERING.

The largest building in the United States—The Chickering piano factory—Birth of Jonas Chickering—Early love of music—Is apprenticed to a cabinet-maker—Is employed to repair a piano—Succeeds in the undertaking—Consequence of this success—Becomes a piano-maker—Removes to Boston—Is employed as a journeyman—The labor of his life—His patience and skill—Is known as the best workman in the establishment—History of the piano—Chickering's first discovery—His hope of success based on intelligence—Becomes a master of the theory of sound—His studies and their result—Makes an improvement in the framing of pianos—Invents the circular scale for square pianos—Generously makes his invention free—A noble gift to the world—His business operations—Increase in the demand for his instruments—Death of Captain Mackay—Mr. Chickering undertakes the sole charge of his affairs—Fears of his friends—Magnitude of the business—The lawyer's question answered—The mortgages paid—Rapid success of Mr. Chickering—His varied duties—Sharp competition—A bogus Chickering—How a Boston bank lost his custom—His independence in business—His character as a merchant—Trains his sons to succeed him in business—The result of his efforts—The present house of Chickering & Sons—Destruction of the factory—Offers of aid—Mr. Chickering's kindness to his workmen—Sets to work to re-establish his business—The new factory begun—Sudden death of Mr. Chickering.

[CHAPTER VII.]

NICHOLAS LONGWORTH.

The grape interest of the United States—Growing demand for American wines—Instrumentality of Mr. Longworth in producing this success—Early life of Mr. Longworth—Apprenticed to a shoemaker—Removes to South Carolina—Returns to Newark and studies law—Removes to Cincinnati—Admitted to the bar—His first case—Is paid in whisky stills, and trades them for lands which make his fortune—Rapid growth of Cincinnati—The oldest native inhabitant of Chicago—Longworth's investments in real estate—Immense profits realized by him—His experiments in wine growing—History of the Catawba grape—Longworth decides to cultivate it entirely—His efforts to promote the grape culture in the Ohio Valley—Offers a market for all the grape juice that can be brought to him—The result of his labors seen in the Ohio vineyards of to-day—His wine cellars—Amount of wine made annually by him—The process used—How "Sparkling Catawba" is made—Longworth's experiments with strawberries—His liberality—Gift of land to the Observatory—His challenge to a grumbler—Estimate of his character—His eccentricities—His generosity to his tenants—How he made money by helping others to grow rich—His politics—How he subscribed one hundred dollars to elect Clay—His hatred of vagabondage—His stone quarry—How he provided it with laborers—His system of helping the poor—Is charged with stinginess—The "devil's poor"—Personal appearance—The "Hard-times" overcoat—Charity to a millionaire—Death of Mr. Longworth.

[CHAPTER VIII.]

GEORGE PEABODY.

Birth and parentage—Early education—His first lessons in business—An apprentice in a country store—Youthful ambition—A desire for change—The visit to Post Mills—Removal to Newburyport—Reasons for his attachment to that place—His first patron—Peabody goes south—A soldier in the War of 1812-15—A young merchant—A change of prospects—A partner in the house of Riggs & Peabody—Peabody's business capacity—An irregular banker—His reputation as a business man—Promising opening of a brilliant career—Retirement of Mr. Riggs—Growth of the business—A branch house in London—Mr. Peabody saves the credit of the State of Maryland—Tribute from Edward Everett—Success in London—A model American merchant—Establishment of the house of George Peabody & Co.—The Fourth of July dinner—The exhibition of 1851—Patriotism of Mr. Peabody—How he saved the United States from humiliation—Admission of the "London Times"—Mr. Peabody's business habits—His economy—Adventure with a conductor—Finds a conscientious hackman—Personal simplicity—Visits to the United States—His munificent donations—His last visit—Returns to London and dies—Honors paid to his memory—The funeral ceremonies—His burial at Peabody—Statement of his donations and bequests—His example encouraging to the young.