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woolen mill at Newark, Ohio, contracting debt to secure machinery.
In 1851 he sold out at Newark and established the Dresden Woolen
Mill, at Dresden, Ohio, which is still (1892) in operation, in the name
of L. Rambo & Co., with a reputation for goods of superior quality.
Like many others, his prosperity beguiled him into investments
outside the line of his education and watchcare, and resulting from
this his ledger shows on the wrong side of profit and loss, viz.: In
1874, a wheel factory burned, $4,500; in 1884, a arge flouring mill
burned, $50,000; in 1887, a woolen mill at Findlay, Ohio, burned,
$8,000, and a large farm dwelling house was added to the holocaust.
Having been a subscriber and reader of the New York "Tribune"
for forty-seven years, we may judge the trend of Mr. Rambo's
political idiosyncracies. In 1875 he was nominated by the Republican
party for State Representative, and was the only one on his
ticket elected. Even now, with his three-score and ten expended,
the same energy serves him well, being extensively engaged in woolbuying
and shipping.
P. S.--Mr. Rambo died on July 31, 1896, at Dresden, Ohio, of
which town he was Mayor. A published obituary states:
"Out of respect to the dead Mayor and honored citizen, every
business house was closed from 2 to 4, and flags hung at half-mast.
The town officials attended the funeral in a body," etc.
GEORGE WASHINGTON RIGGS.
(1398)
[CONTRIBUTED.]
GEORGE WASHINGTON RIGGS was the oldest son of Elisha
Riggs, a prominent and successful merchant at Georgetown,
D. C., where the subject of this sketch was born on July 4,
1813. He was educated at Round Hill School, Northampton, Mass.,
and at Yale College, where he was graduated in the class of 1833.
Marrying Janet Shedden in 1840, he formed in that year a copartnership
with William Wilson Corcoran, of Washington, D. C.,
under the firm name of Corcoran & Riggs, in the banking business,
Elisha Riggs furnishing capital. The house, from its establishment
in Washington, took a creditable position in the financial world, acting
an especially conspicuous part in the placing of the Mexican War
loans of the United States Government. Mr. Riggs retired from the
firm in June, 1848, his place being taken by his half-brother, Elisha
Riggs, the firm name continuing unchanged.
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