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WILLIAM C. RALSTON. denco was unimpaired and thousands of humble people placed their little savings in that bank because they deemed it "good as the Ralston's country house at Belmont, in the Santa Clara valley, was a palace in a rural paradise. Every foreigner of distinction and every eastern man of note who visited San Francisco was entertained there. During the season when such visitors were most expected Mr. Ralston had a coach and six horses daily at his bank to drive his guests to Belmont. Its decorations and grounds were celebrated in all the journals; the hospitality dispensed there was truly described the B SEM JOHMO sil su most of the great enterprises on the coast, and was considered one of the shrewdest and most reliable financiers in the country. One August day in 1875 a rumor floated through San Francisco that all the mining enterprises of Ralston, Sharon and others had proved failures, that the funds of the bank had been too heavily drawn on, and that Ralston was going out. His friends rushed to him for an explanation, and ho said with a smile: "I am tired out and must breathe the free air awhile. Let those two ild cats shoulder the load now." He referred to Sharon and Mills. The next day, Aug. 27, 1875, Ralston drove to the beach for his daily swim. On the way he greeted all the acquaintances he met with his usual gayety, and to his servant he said: "You must drive home quickly when 1 come out-I ill be cold." He dived, swam for out into the bar. turned, waved his hands gayly to a few friends on shore, and sank to rise no more. William Sharon, soon to be noted as the absentee United States senator, 10J quods 03 14811 one pournssu oouo 18 the bank, and his statement was in these :sprom "Ralston has embezzled the entire capital of the California bank. He has ruined every one in the business." Nearly 2 2,000 men and women, who had mourned the death of Ralston and many of whom had followed him to the grave, were next day mourning for themselves, lamenting the loss of their all. It was at once concluded that the banker had committed suicide. At this stage D. O. Mills, father-in-law of Whitelaw Reid came forward and, according to the popular impression at the time, saved the bank from utter ruin. A few thousands were saved for the family; of the two sons, William C., Jr., engaged in mining speculations and Samuel devoted himself with great success to mechanical engineering and improved methods of Sanarar Samuel Ralston said that when he was a small boy his father had told him to master mechanical engineering. The elder Ralston stated at that time that were he an engineer he should go to Siberia and open up mining there that would astound the civilized world. At that time he secured a promise from Sam that he would become an engineer and do what he could tocarry out his father's idea. When Sam's father was drowned the youth took his own head, and the fame of the great Corliss engine at the Centennial exposition had attracted his attention. He sought the noted engine builder and carried out that part of the plan successfully. While in the eastern cities Sam spent read U SCAL pue Applicant secure with the Indies. He spent a small fortpuu social up our his schemes, and then went to California and won another competence, which he invested in Siberia. The exact history of his eighteen months there is not known. The first account published was that he and his party were escorted to the frontier by the Russian authorities 041 pau return: 1940 01 pus explanation assigned was that the "lady lobbyist" of Washington, who had se. cured the "concession" by her influence over a Russian diplomat, had afterwards deserted her Muscovite, and he had in revenge induced the canceling of the government permit. Another story is that Sam Ralston was inveigled into a partnership with a Russian nobleman, who proved to be a traitor or swindler, and so involved his friends in his ruin The result was that Sam returned to California a bankrupt and broken hearted, and in June of 1887 took his own life. and 81 your Supervidans arom 11118 V most of Sam Ralston's intimate friends have come to grief. Of the group of young men with whom he associated in 111 SUM euo "I a Providence Arizona and another in Mexico: another
