Thank you for visiting SNEWPapers!
Sign up freeThe Daily Minnesota Pioneer
Saint Paul, Ramsey County, Minnesota
What is this article about?
Report on St. Louis millionaires' wealth, detailing rental incomes of Col. John O'Fallon ($151,000), James H. Lucas ($80,000+), Col. Joshua B. Brant ($36,000+), and others like Daniel D. Page with high banking profits; notes land value rises and business earnings up to $1.9M in sales.
OCR Quality
Full Text
The receipts from rents, &c., of property owned by Col. John O'Fallon is said to have reached $151,000, last year. The rents of James H. Lucas, Esq., exceeded $80,000; and that of Col. Joshua B. Brant $36,000. The sum first named represents, we suppose, the entire yearly revenue of Col. O'Fallon; the other sums, only the rents from real property. Col. Brant is besides rich in stocks and money. Mr. Lucas' landed estate—a portion of a few arpents bought by his father—hardly forty years ago for ten or twenty dollars an acre—is worth now probably three hundred thousand dollars and is rapidly rising in value. There is besides Daniel D. Page, who is immensely rich, but whose income we have not heard stated. "The profits of his banking business—conducted in St. Louis and San Francisco, under the firms of Page and Bacon and Page, Bacon & Co.—are set at very high figures running from three hundred to six hundred thousand dollars a year. There is besides a little host of millionaires or men not far from millionaires—men like brothers Lindell, Rankin, the Mullanphy heirs, Walsh, &c., &c., &c., whose incomes rise from ten thousand upwards.
We have spoken now only of fixed incomes, derived from rents, stock dividends, interest on money, &c. Coming to profits in business we find among our merchants and manufacturers very large incomes. Not to mention names, there are individuals or firms transacting a business valued at from $500,000 to $1,500,000 a year. We have heard of a single house which last year sold to the amount of nineteen hundred thousand dollars, yielding a profit of little less than a quarter of a million of dollars. St. Louis Herald.
What sub-type of article is it?
What themes does it cover?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Story Details
Key Persons
Location
St. Louis
Event Date
Last Year
Story Details
Overview of St. Louis millionaires' incomes from rents and businesses, including O'Fallon's $151,000 revenue, Lucas's $80,000+ rents from land bought cheaply 40 years ago now worth $300,000, Brant's $36,000 rents plus stocks, Page's $300,000-$600,000 banking profits, and others with incomes from $10,000 up; business profits reach $250,000 on $1.9M sales.