Munsey's Magazine, April 1912

Museum Catalog Note "The Millionaire Yield of Cleveland," Munsey's Magazine, April 1912 This biographical and historical article by Isaac F. Marcosson traces Cleveland's development from a frontier log blacksmith shop (circa 1800) to a major American industrial center. The text chronicles the city's founding by General Moses Cleaveland in 1796, documents the evolution of its name, and details its economic transformation through the Ohio Canal (1827), ore deposits, coal access, and petroleum refineries. The article profiles influential Cleveland capitalists across generations: Leonard Case Sr., a disabled pioneer who became a land authority and banker; Nathan Perry, an early merchant trained in Indian trade; and later magnates including John D. Rockefeller, Marcus Hanna, Tom L. Johnson, and Myron T. Herrick. It emphasizes how diverse manufacturing—iron, steel, and oil—rather than single-industry focus distinguished Cleveland's development from Pittsburgh. The narrative credits New England settler character and determination as foundational to the city's prosperity, and notes the emergence of Jeptha H. Wade as a major figure.