William Chapman Ralston

Overview

other names	W. C. Ralston, Chap Ralston
birth date	January 12, 1826
birth place	Wellsville, Ohio, U.S.
death date	August 27, 1875
death place	San Francisco, California, US
burial place	Lone Mountain Cemetery; later moved to Cypress Lawn Memorial Park
occupation	Businessman and financier
known for	Founder of the Bank of California
spouse	Elizabeth Fry (m. 1858)
children	4

William Chapman Ralston (January 12, 1826 – August 27, 1875) was a San Francisco businessman and financier,[1] and the founder of the Bank of California.[2]

Early life

William Chapman Ralston was born at Wellsville, Ohio,[3] son of Robert Ralston III and Mary Wilcoxen Chapman. He was known as "Chap" when he was young.[4]

Ralston grew up with three younger brothers:Woodburn Ralston, Andrew Jackson Ralston, and James Alpheus Ralston. His mother died around 1835, after the birth of James. Robert Ralston remarried the next year, and William grew up with three half siblings.[5]

Death and legacy

The day after the collapse, his body was found in the San Francisco Bay on August 27, 1875.[15] He was the victim of either a stroke during his regular swim, or suicide.[12] About 50,000 people were said to have watched his funeral procession, and 8,000 of his friends were said by Robert Brereton to have attended the public meeting held in Union Hall on September 8, 1875 to express the community's loss. His partner, U.S. Senator William Sharon, acquired many of his assets, including the Palace Hotel and Ralston Hall. He was buried at Lone Mountain Cemetery (which had recently been renamed Laurel Hill Cemetery) in San Francisco,[16] and later moved to Cypress Lawn Memorial Park in Colma. In 1941, there was a memorial erected in his honor on the Marina Green in San Francisco.[17]

Namesakes

Ralston Avenue is one of the principal roads in Belmont, California.[14] Ralston Street in Reno, Nevada is named for William Ralston. There are Ralston Avenue exits from both Highway 92 and Highway 101. Ralston Middle School, Ralston Hall, and the William Chapman Ralston Award are all named for him. A small mining town in southwest New Mexico was named Ralston City in honor of William Ralston, its largest investor, but has since been renamed Shakespeare. A very small (pop. 70) town in Iowa is named Ralston. Ralston Lane in Redondo Beach,CA, 90278. is named for him.

The town of Modesto was to be named for Ralston; he declined, however, and it was called Modesto as one of the Spanish-speaking workers at the naming ceremony for that town said he was "muy modesto" or very modest. Modesto is home to Ralston Tower, an 11-floor building for the elderly. It is the second-tallest building in the city.

Popular culture

Ralston was portrayed by Ronald W. Reagan in a 1965 episode of Death Valley Days, "Raid on the San Francisco Mint". The episode dramatizes an 1869 event in which Ralston gets the head of the mint drunk in order to persuade him to authorize an exchange of bullion for coins. Vaughn Taylor was cast as financier and adventurer Asbury Harpending.

In a 1968 Death Valley Days episode, "The Great Diamond Mines", narrated by Robert Taylor, the role of Ralston was played by Tod Andrews, who is deceived by two prospectors who claim to have a functioning diamond mine in the desert.[18]

William Chapman Ralston

Early life

Career

Collapse of his financial empire

Personal life

Death and legacy

Namesakes

Popular culture

External links

References