The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-03-18
MR.. KINGAN'S HALF MILLION.
THE VAIL STREET OPERA TONS IN
UHICH IT WAS USED.
What IL Thought of the Manner OF Mr.. Kim
gan's Death breaking the News to His
wife-The Steamship Ticket Found on Him.


What IL Thought OF the Manner OF Mr.. Kim
gans Death Breaking the News to His
Wife-The Steamship Ticket Found On Him.
Tho puzzling question, what did James
Kingan do with his half Million is fast ap-
preaching solution. Large and important as
his Produce Exchange dealings were. he also
bullcd the stock market. and exercised no in
considerable influence upon II. As has been
already said in THE SUN. Mr.. Kingan was an
extremely roticent and secretive operator,
whether in stocks or produce. Four years ago
he became identified as far rs the Stock Ex-
change Is concerned with what is known on the
street rs tho Twenty third street gang. He
trained with them and the points upon which
he operated were obtained from or through
them. In order TO prevent them from following
him.. his orders through the broker who on
joycd hie, and their. intimate Friendship were
very small seldom exceeding 900 shares Of any
stock. What he really expected TO make large
profits from were orders OF from 1000 to 5000
tiveness he had full confidence. With them, as
with Produce Exchange brokers. his relations
them with his plans fully matured. gave his
ordsrs put up his msrs I II any were Re.
cuso was without whining or manifcstng ella
ton. Those who acted for him say that his
margins for purchases almost invariably were
in cash-ccrtifed checks on the Corn Exchange
Bank IN which he kept his account; II ho
proflted by those transactions he usually gave
stock whose cost would cover the amount and
in this way he seldom had any considerable
amount on deposit with his brokers. Every
transaction was made complete in itself. and the
profits wore funded ut once
During the panic of 1873, Mr. s. " White OF
Wall street Carried u heavy line Of stocks for
him. on which the depreciation ut times
amounted 10 20 per cent. u day. Tho margin to
cert fled checks, one Of which was for fl56 900.
Ia the end. Mr.. kingan got out without loss, but
he never squealrd' during the time that the
depreciation was devouring his capital with APP
palling rauidity. His transactions with those
stock brokers through whom he did his really
speculative business were extensive. amount
INK To seldom less than 1000 shares Of any
stock. and generally 10 5000 shares. His losses
from tins source. as far as asccraincd from
several Of his brokers, could not have aggre.
gated more than s75.OO0 above his profits. Stlll
his favor- until Mr. Kinpan's sudden death re-.
Nealed II. and others yet may bc fouNd through
whom his losses might account not only for his
fortune made in Legitimate trade. but for the
profits made IN speculative enterprises extend
ing, oyer four successful years. II Is u singular
ways command from 100000 to $4,000 for
any speculation. This indicates that hc funded
very little 81 his fortune and preferred the un-
certain returns OF stock and produce specula-
ton.
Among those with whom he dealt in stocks he
stood very high. Said Mr.. =. V. White: &c
never knew u man whose turns were ordered
10y maturer Judgment, or whose engagements
were more promptly filed. Whatever he en-
gagged 70 do ne could be- counted on Ia do every
time. He was constitutionally u bull operator.
being OF n sanguine temperament but his
losing operations ON that side Were due 10 facts
and circumstances TRANSPORTING after his con-
tracts had been entered upon. He was oftener
These circumstances indicate that his stock
speculatlOns Were extensive. and that most 81
M SrSnr was k' s baI s Sb o
with the tendency OF the stock market for the
H., twG months can readily account iQT he
ing was heard M 70 6 r. NJ yesterday from Mr.
Thomas hinsan. the brother, who, went To New
all IN the Inquest The opinion IL gaining
ground rapidly that suicide will account for
at first that Mr.. .,ingan had left this city with
not less than 800. 900. A. far as can be asccr.
tanned. he uur,'hnsed no exchange that day and
he took away only the bonds purchased Of Wor-
den x Levcrch. They were bought between ~
and o'clock. and he had ample time 10 dispose
took the train for Portland. Tho property found
ON his person seems to have been principally
The full details Of the tragedy were not com
municaed TO Mrs Kingqn until yesterday, She
days before. With kindly intent. the heart
rending details had been spared her; but wifely
instinct had persuaded herthat something was
being kept back. and she would not rest until
every circumstance had been fully explained.
She has been intensely nervous since but other
wise her condition IL improved.
Adviccs from Portland. received yesterday
morning 10y friends 4 James Knga1 in this
city state that although the reports make IL APP
pear that he sailed from Portland on the Scan
dinavian, and that on his body had been found
ticket for England 10y that vessel. the Scand-
nayian had not sailed from that port since last
January. The Nardinian sailed last Saturday;
but Il appears. ON inquiry at the Portland office.
that no ticket mad boon sold 10 any passenger
under the name II kinEan or Moore. The
probability Is, therefore. that the name ~ tho
nAyan. and that Mr.. kingan bought his ticket
under the name oi Moore. in Canada, and IT the
colonial route 10 Halifax. intending 10 Join the
ship there.