Democratic Sentinel, Volume 17, Number 17, Rensselaer, Jasper County, 12 May 1893 — Ho[?]v Corcoran Began. [ARTICLE]

Ho[?]v Corcoran Began.

The foundation of the great fortune left by the late W. AY. Corcoran, of AVashiugton, was laid by negotiating a loan for the government in London/ The government was in need of money to del ray the expenses of the Mexican war. Air. Corcoran offered to negotiate a loan ot $10,091,000 in London Most of the financiers of that day thought that it would be impossible to obtain the money desired by the government on anything like reasonable terms. Mr. Corcoran had no difficulty in selling the bonds in London at six pet- cent. It was regarded, however, as a remarkable achievement and Air. Corcoran was intrusted with the negotiations of other loans. He was paid a commission as high as two per cent, and his profits are said to have been fully $2,000,000. —[Detroit Free Press.