New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-12
TIE CALIF0RYIANS IN WALL STREET.

MILLS AND KEESE-THE PRESIDENT or THE BANK
OF CALIFORNIA BUCKING IN WALL STREET
AGAINST his PRINCIPAL DIRECroR-N Fpiff-
ING SPECTACLE FOR SAN FRANCISCO DEPos-
TORS
TO the Editor Of The Tribune.
SIR: Lively curiosity exists in financial
circles with reference purposes OF two noteh
san Francisco specuIators-D o. Mills, the fresi-
dent of the Bank of California and successor OF Wilhelm
C. Raison. and James r. Keene-both oil whom are III
New-YorK and believed to be largely concerhru III
Waist. little personal history may not oe "iinou'
interest. ,
Whom Ralston many wears ago. organized the Bank OF
California he placed az ts mead SIR D. o. Mills. who had
been kind OF provincial country banker at sacramenIo
City Mr. RalsOn assumed the position OF CASHIER uu'
was nevertheless supreme the management OF the III
stituiion Mills being tgurehead. About the year l7o'
Mr. sharon who United States Senator from Nevada
was cent 70 virginia City TO open Of the Bank Vi
California He advanced and loaned some Sl,1OOoOo
on mines and mill property without much security tha
he could ever get back the funds Good fortune nov"
ever came to- him 10y striking bOnanza in the Becher
mine the stock Of which being carried to hgh price
enabled the pool OF which he was a member 10
unload Oh the Gan Francisco community, with great
profit to every concerned. Mr.. Mills shared
in these spoils II was few years when Sharon oy
his superior manipulation. made Raston, NILS ana MIN
self r1ch ~ tbs extent Of some Sl5OOOOOO. VITA VIII
success Ralston was carried away. Mills resigned his
position and RaAston became president OF the bahk
Trouble followed and the financial complications seemed
almost nsurmontabe yet when the stock OF the BANK
was regarded nv the informed parties, almost
worthless Mills stood by, saw his friend
and benefactor, Sharon, buy the stock at lao ana
never warned him OF his danger. The collapse came
RastOn who had given Mills his position, was caught III
an extremity He appealed to his supposed friend or au
was refused and then II remembering the LANGUAGE
OF Shakespeare, 81 am rapt and cannot cover the
monstrous bulk OF this ingratude with any size OF
words" he plunged into the waters OF the Phelhc
and found oblivion Then followed tne reconstructloh o
the bank. Sharon and James K keeue stood ny tne
wreck and placed it on It's feet Mills held back until
public opinion forced him 10 the front since that uhe
his presence has been felt IN many directions lie as
claims being a Spectator, and yet his knoWl-
EDGE Of Pacific Mail. acquired from the account
kept by the company in his own DAM
gave him a opportunity to 90 short OF
it, stock. three years ago IL was iS anu
his friend A. A. Cohen, who made deal III Western
Union which will be well remembered, carrying the
price 70 49, and on the information adroty circulated
that there was large amount OF stock NOT
for sale, they unloaded at loss TO the
street Of about two millions Of dollars II is believed by
those who know the parties best that Mr. Mills and his
chum Cohen-whO also kind % c0partner I'D d
ualace car arrangement. which enabled the twain TO
travel like Indian nabObscame TO New-NOrk Tor the
purose of again playing their favOrite cards. Cohen
however for some cause has suddenly ahsented him
self Mr. Mills has the stock carried to - ana
down TO 7l25 What he intends to do under the circu
stances is known OF course only to his confidential
brokers and s brother menDers OF the western Union
pool
Itisa significant fact however, and one that should
cnrry its lesson that president and leading director
Of one of largest banks in America should be away
from their posts in New-Y0rk at the same time
possibly engaged in specializing against each
other and taking their chances against tile
trained and perhaps more adrot gamblers OF Wall
ST. II Is nothing to tie dscredt of Mr. Mills that
he started life bartender on the Hudson River
but II is ali important to the great moneyed constituency
winch he represents that his name should not be
connected with stock gambling in Wals;. elsewhere
The fate OF Ral-t0n. and the end OF score of inc
gigantic Operators nearer home, shol sefys is war;
ing though be feels passably sure OF making Ills
immediate turn.
Another ilifornian Of note in the Metropolis is
Mr. James r. Keene. and singular 10 say he represents
that of President Mills, III whose bank he II III
rector and proprietor TO the extent OF $1,000;
when mere LAD and with his o "a father he
migrated To the Pachc Coast At the age OF IL he was
the Democratic editor Of newspaper ~ shasta IN ole Of
the mountain counties OF California, and by the terSe
attention His first personal difficulty occurred here.
growing OF sharp opposition 10 the Hon. Charles
A. Wasnourne afterwards United states Minister To
Paraguay lie is II rapid and suggestive writer.
and his sketches Of mountain and personal
cences of the early DAYS OF FL Dorado. Remoy-
ing ~ san Francisco, he engaged in speculation
and in years became the leader Of the san Fran
cisco market II Mr. kceue who successfully an
tagonized the Big Bonanza firm Of Flood q Brief and
Inv his boiDess and hrcwGness not only saved millions
10 Others. but made millions for himself Describing HIM
personally a CORE pOndtnt Of The BHJdIo Courier
writes "he LOOKS Ike anything nut - speculative
McpLlstOphees Forty viii cover NJ age, ana his
face is a. childkc and baId' the Oriental AhSin
sim in figure fIufrss in dress unassumug IN manner
sensible and refined in conversation, frank IL expression
and generous he has already apparently tina; place
among hs new Eastern friends to which all gentlemen be-
long" His wife Nrgpian and his father, whom he
made rich, is living IN Paris. VIVA; success Ir
Keene may encounter III Nall-st remains "a he seen.
but IL j. q red. Onabie assumption that "A man VINO II
accustomed 10 engage IN enterprises involving millions
OF dollars, who has to-day upward 81 lOOO0oO bushels
Of wheat route 10 Europe and who within 80 days has
made 100000, - not likely o. DE seriously de
cuiVed by Tn" -hdIpest OF ScNG Ork operators.
Net0- lOri., Feb 10, 1877 CAIIFORNIAN OF 10.