Charles Carruth
Worth: $100,000
A younger brother of Nathan, and in the same business with him. [Drug and Paint business]
Source: Dorchester section of The Rich Men of Massachusetts: Containing a Statement of the Reputed Wealth of about Fifteen Hundred Persons, with Brief Sketches of More than One Thousand Characters. By A. Forbes and J.W. Greene. Boston: Published by W.V. Spencer, 1851
This book purports to include the names of men who were “very wealthy,” defined as a reputed net worth of at least $50,000.
The wealth of the 45 men listed for Dorchester ranges from $50,000 to $500,000 and is distributed as follows:
$50,000 15
$75,000 6
$100,000 14
$150,000 2
$200,000 6
$400,000 1
$500,000 1
The combined worth of all 45 totals $5,000,000
To get a sense of the meaning of this level of wealth, one could look at the life of Marshall P. Wilder on this website. His reputed worth as reported in this book was $100,000.
It is interesting that Dover, a town now considered wealthy, boasted not one entry in 1851, while Medway had one entry and Medfield two entries. Milton, a town next to Dorchester, had 10 men with a total net worth of $1,600,000. Cambridge had 37 men with a total worth of $5,200,000.
From the Introduction: Upon the announcement than an individual is in possession of a large fortune, we naturally inquire, “How did he come by it? Was it by inheritance, or marriage, or both? Or, was the present man of wealth once obliged to toil for his daily bread like the thousands who now marvel at his possessions? If his property came by his own exertions, what is the man? What are his strong traits of character? How did he manage? Did any one great circumstance, aside from his natural abilities, favor him? In what business did he grow rich? Has he done, or is he likely to do, much good in the world in consequence of his riches? These are the questions which naturally suggest themselves to us in reference to the wealthy of any place, and these are questions which we have attempted to answer in reference to a very large number of wealthy men in Massachusetts. Our leading object has been to furnish encouragement to the young, from the contemplation of success resulting from a s suitable combination of those sterling qualities, Perseverance, Energy, Carefulness, Economy, Integrity, Honesty. Another very prominent object with us has been, to excite in the minds of the wealthy, and of all who shall become such, greater attention to the importance of an enlarged system of Benevolence. …
In 1856, Charles Carruth became President of the Mattapan Bank. He was a younger brother of Nathan Carruth. They were were in the paint and drug business in Boston. Nathan later became known as a railroad pioneer, due to his presidency of the Old Colony Railroad. He devoted energy and capital to the introduction of railway lines in Massachusetts and in other New England states.