River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1880-10-14
BONANZA BULLS AND BEARS.
Whom They Make and Whom They
Break by Stock- JobbiEg Points.

BONANZA BULLS AND BEARS.
Whom They Make and Whom They
Break by stoeiS-Jobbing Points.
San Francisco Letter
The phenomenal financial success of
Ulysses S. Grant, Jr., through the
medium Of Mr.. Floods points, is in
teresting. 1t is said that young Grant
is engaged to Floods daughter, Jennie,
who has s., 100000 government bonds,
the interest on which is 100000 per
year, which added t. Bucks modest
$500, 600 will give the young couple
very fair start in life
The system adopted by j. c. Flood
in distributing points illustrates his
knowledge of human nature. He has
in his employs private secretary named
ed Wells When he wishes to distribute
points to the street he drops a few hints
contidentialy to Wells, who of course,
has friends. In less than IN hour Wells
has distributed the information :where
it will do the most good. Wells goes
in ON his own accord, on the strength
of these points, and is kept of course
III a continual condition of poverty.
The bonanza firm keep all their EN-
ployes poor. If they permitted them
to get rich they would leave. Floods
points to young Grant were doubtless
truthful. An alliance of the two families
was desired ''for old times sake" Grant
it seems, was one Of the best customers
Flood & O'Brien had at the old "Auc-
ton Lunch" saloon, in Washington
street, during Argonaut days. Flood
rnAantnl that t,,T,,,IJ L.
daughter to marry a poor young man,
and further that it would be better and
cheaper to put young Grant in the
way of making little money on his
own account than to be under the
necessity Of giving him the money out
right in the end. This put all parties
ostensibly on a more independent foot
ing. But the points given to Johnny
Skae, formerly worth $2,500,000, and
now $3.50, 600 worse off than nothing,
were not so well grounded in truth
as those given young Grant. Charlie
Noyes of the Chronicle could also a tale
unfold if he would on the subject. Some
years ago, when he WAS a prosperous
merchant, worth S75, 900, they gave him
through their cappers, points that left
him high and dry on the curbstone.
| And so it has been with everyone whom
they approached. They never let
man go while he had cent. remember
that after the movement in Union and
Sierra Nevada last fall, while men were
running around nearly distracted for
more "mud" to make their fleeing
margins good, threats were made
against Floods life One man, u
| rnx,E,,oly1nn 10 ,,,1,,1l
room in building commanding Pine
street entrance to the Nevada block
and shoot Flood on sight Whether he
would have done so do not know, for
his troubles eliminated in day OF
two afterward in lunacy and he was
removed from the city. The resources
of the bonnaZa firm and their cappers
in distributing points surpasses com
prehension. They have ruined every
one they ever went for with the single
exception of James Keene, who knew
their cappers and well understood their
deadly hostility to him. When one of
these parasites approached him with
exclusive information he expressed the
greatest gratitude, set up the wine, and
forthwith coppered the information
He left San Francisco with $4,000, 900.
The thousand and one stories that are
told, written and published about the
princely liberality of the bonanza firm
are made out of white cloth. Their
wealth is very much over-estimated.
They are worth as firm about $40, 00O,-
000-that is, taking the market quota
tons for their stocks, the value of their
real estate, government bonds, and
banking business. If all their property
was sold to-day at forced sale they
would clean up about $25,000,000.
Mackey has Il twO-fifths interest in the
firm, and Flood, Fair, and the estate of
| w. S. O'Brien, deceased, each a fifth.
Fair has retired from active business,
Flood, it is said, has sold out all his
mining interests to Mackay, but no
| body believes it. Mackay remains in
Virginia City, working as hard as any
miner, because he is lost amid other sur
roundings. He possesses more honesty
and generous instincts than any of the
firm He is modest, but of late years
has become somewhat mOrose. The
possession of unbounded wealth, for
the administration of which he is not
fitted either by education or instinct,
has served only to show to him the
meaner traits of human nature He
has been beset by adventures appeal
ing to him for aid under every possible
pretense, until he has become soured
in temper and of suspicious charac-
ter
The reignof the bonanza kings isabout
ended. Ayoung man from New Jersey
has been fighting them in the courts
for more than two years to force them
to disgorge nearly $40,OOO,OO0 alleged to
have been feloniously withheld from
stockholders by means of illegal con-
tracts. Recently their last demurrer
was overruled, and the cause will now
go to trial upon the facts, all the law
points having been decided in Burke's
| favor