Arrived San Francisco on board the
SS Panama, 1849
Theodore Payne joined thousands of other successful businessmen in
the rush to California to seek new fields of opportunity. He was
among the first tide of gold seekers and reached Panama in September
1849. There his trials began.
The agents of the steamship company lost his baggage so he reached
San Francisco with nothing at all. Being a resourceful individual
used to successes, he remained optimistic. He forged ahead and
shortly after his arrival, he joined with W.J. Sherwood and opened
the auction house of Payne & Sherwood. Their business
thrived and in so doing, Mr. Payne met many other industrious and
well-connected individuals.
In October 1950, he dissolved the business with Mr. Sherwood and
opened Theodore Payne & Co., a real estate auction-house, in a
formidable building on the southwest corner of California and Montgomery
streets.. His initial connections in the City opened many doors,
includi ng being chosen by town commissioners to sell the City's landed
interests.
Like all residents of the City, Theodore Payne's fortunes waxed and
waned with the fortunes of the City. Great fires swept through
the downtown streets in the City's formative years. On more
than one occasion Mr. Payne's business was engulfed in flames.
However, with great self-confidence and an equal confidence in the
growing City, he continually picked himself up and began again.
At one point, he used his personal fortune to help the City through
a nasty real estate deal wherein the City was about to lose a great
deal of it's own property. Mr. Payne paid $17,696 to regain
the property for San Francisco.
In September 1851, Mr. Payne was elected by the people to the office
of Street Commissioner. However, before long, he turned his
interests entirely back to his business and became one of its permanent,
most useful and valued citizens.
Theodore Payne's quick rise to fortune is indicative
of just how quickly an industrious man could reach new heights in
the growing City. Quite often, those who remained in San Francisco
rather than bolting for the gold fields made significant and solid
fortunes, whereas mining for gold was always an extreme gamble that
proved fruitless for most seekers. He was also a member of
The
Society of California Pioneers
To Top of Page
Copyright © 1998-2011:
D. Blethen Adams Levy/The Maritime Heritage Project.
All rights reserved.
Note: Codes are hidden in the pages to discourage copying the site. Cartographers of old used this method. We like it.
Please inform us if you link from your site.
And please do NOT link from your site unless your site specifically relates to
immigration in the 1800s,
family history,
maritime matters, maritime history and/or California history.