New-York tribune., 1878-02-21

| yeasri waich Americans cannot furnish that the
cxpraitiOn has existence, yet and that there
il no safeguard in the bill prevent the vessel from
being sold rs matter of speculation. on the Ameri-
can register, which is said to be worth $4,000.
THE ENTERPRISE A SPECULATION.
wooDRUFF SAID TO De WEALTHY HIS BANKRUPTCY
| IN THE WEST.
| Considerable attention has been attracted for
wear or two to "a so-calIed Woodruff Scientific Expe
dion around the world There is something peculiarly
American the spirit In which this expedition has been
conceived aud during the year or two IN which 1t mas
been kept before the public by its promoters 1t has
been presented in such way TO gain for II hold Oh
| the Imagination and sympathy OF all who are inter.
| cstcd eitner In the college world or In enter
prses tending to reflect credit on American nation
| ality. If tins ship ever sails from the shores or
the United States it viii probably carry with 1t de-
gree interest in this country never before excited
By an American vessel in time of peace. 1t WI bear
away 200 or more OF the flower of be American youth
| and a large number of men eminent in science and
| the Gov crnment service. IL will visit the capitals
| of the civilized world on the one hand, and on
| tbe other the most outlandsh and distant places
inhabited by barbarans, accessible by the sea, and VIII
| ,rayerse "A route GoOOO miles long The intention is
that II hall sail under the American flag, and be glori-
fled bv the prestige and protection OF the Republic IL -
expected that it VIII be as useful scientifically as the
Challenger and various other great European expedi
lions and certainly will be talked about as voyage OF
such character could not fail 10 he, bOth during the
two years of It's proes and for many afterwards
| The project OF this expedition introduced 70 the
public a year two ago, coming from Mr. James D.
Woodruff who Was said TO be young and wealthy mer
chant OF Indianapolis man who addea to the posses
sion large fortune enthusiasm for science III WAS
stated enterprise sustained by MI Harmon
] woodruff. of Auburn, ~ Y, also wealthy merchant,
The fatcr of the younger and that these gentlemen
had undertaken to achieve this expedition without any
idea of making money, hut purely intellectual way
OF spendng part II largo fortune and OF concerning
lustre on the family name The senior woodruff Is au
estimabe man. living at Auburn and now retred from
business. Wheeler he is aware or lot Of the
use that has been made oi hls name. Is not
known. bu; 1t has been used as stated The junior
Woodruff was said have conceived the idea Of the ex
petition while living In Florida after the war, WHITTIER
he went TO recruit his health impaired by service IN the
army II Is said that there "under the orange trees, sill
ting rs II were at the threshold OF The tropcs. the
thought OF this Journey round the world this peep at the
wander. and splondor Southern lands ard seas
10 him" Tie OF the Woodrus and the dsner-
est character OF the enterprise were mentioned both
In public and private and they securedfor the expedition
share uf tie consideration 1t has received on the part
Of college mon aud others and Of the testimonials which
Lav, beon published In the pamphlets announcements.
aud circulars of the expedition.
bill hss been introduced In Congress 10 repeal so
much OF the Navigation laws of the country as would
| interfere with the rroprietors Of the Woodruff Tx
| pcdiiiyn in buying forrlgnbu snip ana
| sailing Il around the world under the auspices
Of the United states Government and flying the
American nig This bill passed The House the Goth
nit The fact that bankrupt could 90 To Congress
and obtain from the House the passage OF bill which
had been denied % influential and substantial al-
plicants and several other circumstances which have
lately come gh have induced TnE TRIBUNE To iuves-
tgate more closely the OASIS on "hleh ths eNpeuuoh
rests
The real promoters Of the enterprise are Mr. James o.
Woodruff and General Daniel Macauey, both of Indian
apos the latter commander o. The Indana Legion during
the war and afterwards Mayor OF indianapolis. icw
| wears ago. during the lush times, Mr.. Woodruff then
fresh from Floridn. Instrumental In introducing 10
the CITY OF indianapolis the Holly system OF water
| works, Bonds were issued 10 a large amount by the
| company which was formed for this purpose. These
bonds have since dcpreciated as TO have little
| market value whatever
After this operation Mr.. woolrcT went into real
estate with General Slscauey under the firm name Of
| MacauIey, Woodruff & Co. They bought tract OF
land called Iammonds Woods. in the edge OF the City OF
indianapolis, for conversion into building lots on the
cooperative PLAN The tract contained eighty acres, and
cost 240 600. OF which $4,000 was paid down. and the
rest secured by mortgage cross street was opened
through the middle OF the tract and called Woodruff
place It was intended TO sell OF lots each side Of
ths avenue 20 people OF means, who should expressly
ngrec 10 build Of good size and character and I'M
prove the grounds leaving the grounds between the
houses OPEN except that shubbcry and fountains and
other features purely ornamental might he introduced
| at will. The city OF indianapolis was dclueed with
glowing pictures OF Woodruff place. IN which the one
succtae bnidlnc on the grounds. and striking
features which existed only in contemplation were in
troluccd 10 embellish the view General Macauey,
g no il shrpwd and tnterprisng business man. was the
ncs active agent In the enterprise though 1t IL not u
derstood that he had uuch capital in It, not being man
of means The speculation would have made It's pro-
he had 4 x
area OF real estate laid around indianapolis for
building purposes enough IL is said to build the CITY OF
NewYork and this made the enlefprlse 20 slow. ibe
hard times ana the speculation ended ID disaster
IN proprletors lost everything ney had
of Mr. woodruff in Auburn, n. ~ were Involved in the
disasier Mr. Woodruff came to New-iorh bankrupt
of noating university around the world Their plans
had been large aud daring uut the iea estate venture
syamped thcn ana the concern could not even pay s
debts.
TWO ATTEMPTS TO SECURE 4 SHIP.
Mr. James o. Woodruff and General Macauley came to
NewYork the Spring OF 1877 to embark Ia the new
terprise The latter as before largely the active
business agent Of the firm. He went TO Mr. G. NJ Thom-
son a ship broker who has credit among steamship
mon I'm town, and represented that Mr.. WO0druG had
planned voyage for scientific study and sightseeing
for college boys. around the world. He said that Mr.
Woodruff a wealthy man, worth half million, that
he had father and brother each the owner OF stunt
lar fortune and he organizing the expedition
I'm question with public spirited and dlsinteresed mo-
tyes lie set forth TO the ship broker the character OF
the enterprise In the light IN which IL has
since been exhibited to the pubc. The broker
named the terms upon which he would undertake TO
cure n shin for the voyage. They accepted and III
May 1877 broker signed conditional contract for
| his principals for the purchase OF the steamer
| city OF Merida. running out OF New-York har-
bor IN the trade to Havana The Merida Is
| n wooden vessel OF 1900 tons burden,
feet staunc in good condition and capable OF carrying
$50 passengers II offered for the expedition at
sl35 900 The conditional contract to run for ninety