The following excerpt is taken from the "Overland Monthly" article entitled: "Life of Pastor Russell" by E. D. Stewart.
"Charles T. Russell was the second son of Joseph L. and Ann Eliza Russell, and was born in Pittsburgh, Pa. His father was a well-to-do merchant, and the son, when not engaged in study, spent much of his time helping his father in the store. By so doing, he rendered himself liable to the awful charge that certain ministers in various parts of the country have brought against him, that in his early life he was "a seller of shirts." In this work, however, he developed the qualities of industry, perseverance and earnestness of purpose, qualities that have been such prominent characteristics of his mature years. As the father was a very successful business man, it was only natural for the son also to begin business as a merchant. In this work the young man manifested such business acumen that, in a few years, he was the owner of five clothing stores. In all this work he was so thoroughly honest and his goods so thoroughly reliable that his success was marvelous, so marvelous that some who then knew him believe that if he had continued in the mercantile business he might have rivaled in the accumulation of wealth some of the richest money kings of his day. But his great desire was not to be rich, but to be useful. We need not tell you this, you may know it for yourself when you consider the following facts:
At one time in his life, while he was yet a young man, the valuation of his real and personal property is said to have reached over $200,000. Of this $40,000 were spent in the publication and circulation of his first book, "Food for Thinking Christians." At various times he contributed large amounts to the Society of which he was president. In fact at the time of his death he had but $200 left of his own private fortune. Notwithstanding this fact, there have been men so ignorant of the facts in the case, or had so little regard for truth and veracity as to say: "Russell has just started this religious movement as a money-making scheme." The utter foolishness of such a statement could not be fully manifest to persons unacquainted with the manner in which the Watch Tower Bible and Tract Society is operated. The very idea of a company of men getting rich preaching the gospel without money and without price, while their friends at the various appointments advertised the meetings "Seats free; no collection." The truth of the matter is that those ministers who have done this talking about "money making scheme" concerning Pastor Russell have simply been "measuring his corn in their own half-bushel." A man whose own life is actuated by low motives cannot appreciate a higher motive in another man. In all of Pastor Russell's work, and in all the work of the Society including missionary work, translation of the books into all the important modern languages, exhibition of the Photo Drama of Creation, etc., not one penny was ever solicited and no collection was ever taken. That, of course, does not mean that money has not been liberally contributed, but every contribution is and must be absolutely voluntary and unsolicited."
--------------------------------------
I am not sure that E. D. Stewart was a "Bible Student", but if he was not he would have still have had to get his info from one of the Brooklyn heavyweights.
The important part of the excerpt is the assertion that Charles Taze Russell was the financer of the $40,000.00 spent on printing and distributing "Food For Thinking Christians" (which was technically a "tract", NOT a book) which occurred in 1881.
Technically, FOOD was distributed by ZWTTS, not by Russell. 1881 was ZWTTS's first year, and it received just over $35,000. in donations in 1881, and practically all was spent in 1881.
Interestingly, the financial report for 1882 indicates ONLY $3374. in donations in 1882, with nearly $6000. spent; leaving a deficit of nearly $2600.
Donations were evidently so poor in 1883 that Russell chose to not even release a report that year. In January 1885's ZWT he finally published a report for 1883 and 1884, which showed donations for both years of ONLY $2500. Expenditures for 1883-4 were ONLY $2400.
IF RUSSELL WAS SO RICH, WHY DID HE DONATE ONLY $500 OF ZWTTS's $5000. INITIAL CAPITAL, AND WHY DID HE NOT DONATE MORE TO ZWTTS IN 1883 AND 1884???