National Republican., 1881-08-30
BOLD STRIDES TO WEALTH.

The history Of Mr. Skae's elevation to the dig
nifty of n millionaire and his rapid return TO the
humility of poor man would excite the deepest
wonder IN community where the wheel Of for
tune rcvolves more slowly than is agreeable to the
adventurous Californian. Mr. Skae was born in
Canada. one of his parents being Scotch and the
other lrish II is rather difficult to classify him ma
tionnlly. 1t is an established fact however, that
like the majority of men who have acquired great
wealth on the Pacific coast he started in the race
for fame from an humble position. He was telc-
graph operator of uncommon ability, which was
utilized in the business of transmitting dispatches
between the Comstock and the san Francisco stock
market The great lode was almost bursting with the
promise of untold millions, and the whole coast
was | II the tlroes of malignant mining fever.
The wires were bufdcned with the history of the
lode from day to day, and there was no one who
read tho story with more interest than Johnny
Skac, the telegraph operator. A large portion of
the history was Clouded with the mystery of cipher
dispatches: but the little Canadian, II is tcd, had
learned TO penetrate the caballstic secrets. lie
was wonderfully shrewd young man, and the
stock spectators of that day were not the experts
in concenng their intentions that bitter experience
has since made them. The greater portion Of the
cipher dispatches flashed over tho wires from the
Comstock apprizing the managers in san Fran
cisco of the promise of each days work in tho
mines was capable of being read by uniricndly
eyes, and tradition has 1t that Johnny Skac did not
show himself the incapable one.
LIGHTNING LAID UNDER CONTRIBUTION.
1t lives in the history of the Comstock aud the
anecdotes of the telegraph offices that the little
Canadian operator not only read the secret dis
patches, but, unlike the majority of his craft pos
sosscd the business tnct to make capital of his
knowledge. The information thrust bcforc.h him
day by day made him master of the situation as
fur as his capital could extend, and he continued
TO expand the limits of his operations until the
telegraph office knew him no more. The profess
sion of telegraphy is one that greatly develops the
Imagination, and In every telegraph station slowed
In the crevices of the Sierras the blographcr
of wealth can resurroct ancient and alarming
stories of Mr.. Skae's exploits with the wire.
Many of these stories, descriptive of how
the smart Canadian snatched the secrets of
the Comstock from the lightning, as 1t were,
and reliant ON his knowledge, defed the horns of
the bulls and the claws OF the bears Of California
street, are highly improbable. There is, however,
no room for doubt that Mr.. Skae made the best
possible use of his knowledge ofelegraphy, for he
abandoned it to assume control Of the Virginia
and Gold Hill water works, piece of engineering
skill which represented vast outlay Of money
and labor, and promised q proportionate profit on
tho investment. Water, strange as the fact may
seem, is the most priced of tho fluids that enter
into the sum of the COmstocks requirements and
Mr. skae found himself OH the high road to fortune
with Sharon, Jones, and the other magnates OF the
Sierras we'll in sight.
AT THE s3,OOOOOO POINT.
The easy pace of the prudent bondholder was
not to the liking of Mr.. Skae however, and he em-
braced all the opportunities that tho stock market
offered for excitement, until the fame Of the big
bonanza set half the country at its wits end,
Johnny Skae had but n small amount Of the stock
when 1t commenced to climb the scale of prices,
but he dashed at the market, and, with astounding
recklessness, followed the securities, until Con-
sodaed Virginia was close to the thousand dollar
limit, and the value of California mining stock
was set at an equally exorbitant sum. When the
" deal ended and the tidal wave of excitement
had receded leaving the market strewn with the
wrecks Johnny Skae was S3,0O00OO ahead.
SO California street said, and the SCARED
war-worn veterans of Paupcr alley talked
reverentially of his luck for he seemed TO bear
charmed sack With the ebb of the bonanza ex-
element the fame of the winners grew less and
was finally eclipsed. The palatlGl residences that
the newly made magnates had built became, by
the mutations of an Improbable stock market,
plain boarding houses. The capacous stables,
once full of the blue blood Of Kentucky pGsturago,
became the resting places. of degraded livery
hacks. ono by one the crop Of milionaires was
gathered into the Nevada Bank and lost to the
outside and no longer endearing world. With the
others went Johnny Skae. So report said, and the
public mind, having satisfied itself that the ex.
tclegrapher was no longer millionaire, cxpunged
him from its most sensitive spot.
TUMBIISG AIR-CAsTLEs.
Those who watched the stock market and the
figures revolving around IL knew that Johnny
Skae was still interested In the insecurlties; but
1t took practiced eye TO detect his presence. Ills
reckless system of fighting luck by doubling up"
until his margins" were too thin to support his
air castles had made n sad inroad on his three
million "clean up" and left him to hang his hopes
on few speculative properties In this uninvit-
ing category was the Sierra Nevada minc of which
Mr.. Skae was president Hope long deferred had
made the Sierra Nevada stockholders very sick
indeed. The stock was down to bed. rock, but
even at that state Mr.. Skae did not want 1t. The
market seemed dead The Comstock gave no
hopes of resurrection, Con. Virginia was
selling for song, Savage was full Of
water, Yellow Jacket was reminding its stock
holders every month of the expensiyeness
of Its pumps. 0verman had discouraged even Bob
Morrow. Along the whole length of the lode there
was only barenness and despair A sudden desire
for travel possessed the mining men. Mr. Skae,
obeying the popular impulse, went East He had
not reached his destination when the entire aspect
Of affairs on the ComstoCk and on the San Fran
cisco stock markot was changed by q few dis
patches One of these Informed Mr. skae that
there were indications of a bonanza in Sierra Ne
yada and he came back rs fast as a special train
could carry him. An examination of the mine
convinced him that n great bonanza was in pros.
pect, and with all his characteristic recklessness
he dashed ntothe market. He had only three
thousand shares ofSierra Nevada and not great
deal ofhls three clean up on Con. Virginia
THE LAST FIGHT.
All that he had, however went TO his brokers
and the substantial firm on Pine street which hc
4 4. Il HI.an
doubled for the bold spGculator. and he bought on
his brokers' money until the stock stood at s21S u
share. The same tactics and the same firm had
stood him in good stead in the Consolidated Vir.
glnia and California excitement and seemed to be
serving him well again. lie became the lion OF
the hour Before Il had been Flood, but the new
star eclipsed the Nevada Bank, He was hailed as
the father of the new bonanza" and his prospect
i've millions counted up by his admirers until
Nanderbilts fortune seemed only pittance. Songs
| In his praise were made An alleged poet, nov
engaged on q stock paper described The
magnate's hOSty return from the East II
| parody on "Sheridan's Ride" and headed
! Johnny Skaes Ride" Under ordinary cir,
| cunlstances the outrage would have been avenged
with shotgun, but instead Of chasing the poe
down to blow the cobwebs ont Of his head, th'
most enthusiastic Of Mr., Skaes friends hunted th'
malefactor up and presented him with 500. Tho
| report Of this piece OF extravaganza soon spread
and inside Of "a week every Bohemian in town who
could write ten lines Of doggerel was wearing q
new suit Of clothes and jinglng few $50 pieces IL
his pocket The eugolized magnate left no stone
unturned to increase his popularity. He lost 500
900, II was said, at one poker game In the Palace
! Hotel in one night His unostentatlous acts o
charity here however, were nothing tohis beneyo'
! lent exploits ON tho Comstock, where million
are who does not live up to the tenets Of the town