The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1868-09-10
How a Poorhouse Boy Became Mil
iOnaire.

A Chicago correspondent Of the New
York EOening Post says; The recent
change in the management of the great
corporation, the Chicago and Northwest
ern railroad company, by which the con-
troll passes into the hands of Henry Keep,
the representative of Wall street, has ex-
cited some curiosity here in regard to
this new Western railroad king, and |
have been at considerable pains to learn
his history. Mr.. Keeps first distinct re-
collection Of life is connected with the
poorhouse of Jefferson county, New \ ork,
into which the death of his father in
poverty had consigned his mother and
himself
Having thus lived until he became old
enough, as the county officials thought,
to earn his own living, he was bound out
to neighboring farmer, who gave him
plenty of hard work, but no schooling, as
he had agreed, and little else that was
desirable. So one fine day Henry tied
up his few possessions in a hankerchicf
and ran away, and reached the Erie Can
al, on which working his passage by rid
ing horse, he iourueyed until at safe
distance from his master, bringing up I'm
ally at Honeoye Falls few miles back of
Rochester. Here he worked for a miller
for while, and then, going to Roches-
ter, he became man of all work for Gould.
Saving his wages and earning little
extra by occasionally saving cord OF
wood for fifty cents, he invested at first
in Monroe county bonds, which happened
to be at discount, making handsome per
centage when they rose to par. Then lie
began to collect Canada money and take
it over the border to exchange for State
currency, always at profit. By shrewd-
ness, care and economy he accumulated
at least enough money to start a bank,
which he did at Watertown, where he
married the daughter of Mr.. Woodward,
a prominent and wealthy citizen. He
established several other country banks,
and finally going to New York, he took
a leading position on Wall street as
stock broker, now, at the age of about
fifty, ranking among our millionaires.
He was treasurer of the Michigan South
ern Railroad from 1851 to 1868, and af.
: terwards for about six months president
of the New York Central
~ tue SltCliOu VI lh6
and Northwestern railroad in this city,
June 4th, Mr.. Keep controlled about S2S,
100000 of the $50, 100000 OF stock re-
presented, owning himself 81 500, 900 and
of course secured his almost unanimous
election. Some fear was felt by the peo-
pie of this region that the supersediug of
: Mr.. Ogden by Wall street inancier
would not be for the advantage of the
West, but as we yet see no cause for
anxiety.
Mr.. Keep is remarkable instance Of a
, self made man, as his history shows He
has an extraordinary ability for speculat-
) ing keeping his own counsels, asking no
: advice, reserved, almost taciturn, pre-
sistent, ambitions be takes up the bodest
schemes and rarely fails. His influence
in financial circles is very great and his
credit unlimited. 1t is said that he keeps
no accounts but his bank book, although
his transactions amount to vast sums. =
. He was prompt and liberal in talking Uni
D ted States securities during the war, when
many were prophesyiug ruin, saying that
e it was the duty of every man to stand by
4 the Government. He lost nothing by his
, patriotism lie owns fne mansion on
t Fifth avenue, and it is to be hoped en-
joys the fruits of his upright and perser
yering career.