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Sign up freeThe Cairo Daily Bulletin
Cairo, Alexander County, Illinois
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Biographical sketch of Chicago millionaire Potter Palmer, detailing his humble origins, business success, ownership of grand buildings destroyed in the Great Chicago Fire, and his resolute plan to rebuild.
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A CHICAGO MILLIONAIRE.
(From the N. Y. Sun.)
Among the very successful men of America who have become millionaires through honest industry, and judicious business energy, Potter Palmer of Chicago stands pre-eminent. He was born in 1826 at Potter's Hollow, valley of the Catskills in this State, his mother being a daughter of Samuel Potter, a Quaker from Massachusetts, who settled there early in the present century. His only education was received through winter schools, and a country store. He kept a dry goods store for several years in Central New York, and about twelve years ago moved to Chicago, where he laid the foundation of his fortune in the first year of the war by buying an immense stock of woolen goods, including carpets enough to cover the state of Indiana.
Among his buildings the dry goods house of Field, Palmer & Leiter consists the finest, the facing of pure white marble from Connecticut costing $75,000. On the centre of this structure was a great slab with his name in bold relief, which he facetiously termed his monument. He owned one mile on Michigan avenue. His other buildings were of the yellow stone of Joliet, or of wood. His hotel stable, as the Palmer House, was nearly completed, when the terrible news reached him at Erie on Monday. Nothing daunted he telegraphed to his agent, "Clear away the ruins and prepare to rebuild."
Mr. Palmer was married for the first time about a year ago to a most estimable woman. With firm health, good habits in the flush of mature and vigorous manhood, he hopes to live to see his stately buildings rise Phoenix-like from their ashes, and the wonderful city which owed so much to his taste and energy present a greater wonder to the world than before its wholesale destruction.
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Chicago
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Born 1826; Moved To Chicago About Twelve Years Ago; Fire On Monday
Story Details
Potter Palmer rises from humble beginnings to become a Chicago millionaire through business acumen, amasses wealth and builds grand structures including the Palmer House, loses them in a devastating fire but immediately plans to rebuild.