TWHP


James Flood, 1826-1889   

Like many who came to California to make enough money to buy a farm back east, James Flood found the boredom of his planned life unbearable and soon returned to San Francisco. After failing in his carriage-oriented business, he paid off his debts and opened the Auction Lunch saloon with William O'Brien. The pair wanted a business immune to the ups and downs of the business cycle, and they noticed that people continued to drink whether times were good or bad. They ultimately chose a location near where most of the city's auction houses operated, and they offered free food for the price of a drink; Flood poured the liquor, O'Brien sliced the roasts. They made money not only from the bar, but also from investment tips picked up from customers. After setting up as stock brokers, they entered the partnership with Mackay and Fair, surreptitiously buying control of mines the latter two recommended. After the four hit the big bonanza and speculation in mining stocks turned into a frenzied addiction for many in San Francisco, Flood became reviled as a master manipulator since he was more noticeably active than O'Brien, and the other two partners operated out of Virginia City. He lacked Mackay's thoughtless generosity, and Fair's false charm, and though he took care of old friends, he shielded himself from moochers and reinforced the sense of aloofness. The chief conciliator of the four, he was adept at defusing anger and keeping everyone talking. He built a magnificent brownstone at the center of Nob Hill, as well as Linden Towers, a big, wedding cake of a house south of San Francisco in San Mateo. The brownstone remains today as the Pacific Union Club, and his son built the Flood office building in his father's memory, situated on Market Street at Powell, where the cable cars turn around.


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