The weekly miner. [volume] (Butte, Mont.) 1878-1881, 1881-06-14
HENRY WILLARD.
Pen-Portrait Of the New Leader in
Wall Street.
His Successful Business Career.
Eight Millions of Dollars Placed in
His Hands Without Security
THE ''Blind Pool" OPP
Grafton.
CORRESPONDENCE Philadelphia Times.

lists and new names-names unknown here
only a few months ago, except, perhaps, to a
few great operators and railway men. The
world has been curious about one of them,
and the mystery has made it seem as though
there must be some Interesting romance about
him. do not know whether there is or not,
but Henry Willard does not look much like
a victim of romance, and his short, active life
has not given him much time to think OF any
thing but his great projects. l called yester-
day at the offices of the Oregon Railway and
Navigation Company on Nassau street, where
MIR. Willard presides. The Treasurer Of the
company is Horace White, formerly the
editor of the Chicago Tribune. The two have
been together before, during the war as news
paper correspondents. MIR. Willard appar-
emily does not seclude himself. He has three
or four rooms, not over-well furnished, the
floors covered with a white canvas-like ma
terial, generally in a state of dirt left by the
feet of EMPLOYEES and visitors. In a little room
sits the great tinancier, except when he is
moving about, talking to his clerks or som
of his associates. He is a big man, over six
feet high, and must weigh over 200 pounds-a
man that carries with him the impression Of
great force and power. He has a big, round
head, covered thinly with dark hair, and a
short gray mustache. His voice is soft and
pleasant, and he smiles as though he enjoyed
life to the full. These who know him well say
that he does-that he gets all the keen enjoy
ment possible out of his prosperous work and
his great wealth. Mr.. White kindly gave me
the main incidents of his career. Mr.. Willard
was born in Speyer, the capital OF Rhenish
Bavaria, in 1885. His father was Judge Of
the Supreme Court of Bavaria. After going
to Heidelberg University Mr.. Willard came to
this country when he was p years old. He
went to the Pixies Peak region with the first
party of emigrants who went there in search
of gold and vent into Journalism, working on
various newspapers
A A CORRESPONDENT.
After remaining at Pixies Peak for a year
or two, he became an army correspondent at
the outbreak of the war. He was a member
of a firm having a news bureau at Washing
ton, and representing the New York Tribune,
Cincinnati Commercial, Boston ADVERTISER
and the Chicago Tribune. The firm was
composed Of MI. Willard, Horace White and
Adams S. Hill. MI. Wizards duties were
with the army, and, in that capacity, he was
with Grant in the West and afterwards with
Rosencrans and Burnside on the Potomac. He
was present at the battles of Fredericksburg,
the Wilderness and Spottsylvania Court
House. Let Mr.. White tell the rest of the
story in his own words CATER the close Of
the war Mir. Willard went to Germany and re-
manned a year. When he returned he mar
ried the daughter of William Lloyd Garrison
and went back to Germany, where he stayed
two years. During this time he formed con-
necticns with certain banking houses in
Frankfort which gave him the command Of
considerable capital, and, having the conf
dence of those houses, he was invited by them
to take charge of their interests in Oregon,
where they had invested some $4,000 900 in
the bonds of railway and steamship enter
prises undertaken by Ben Holiday. Holla-
day eventually failed and the Oregon proper
ties went into the hands of the bondholders
represented by Mr.. Willard. While manag-
ing their interests the Kansas Pacific Railway
became bankrupt, and as the majority of the
bonds were likewise held in Germany, Mr..
Willard was solicited to take the receivership,
a position which he continued to occupy to
the great satisfaction of the bOndhOlders UNI
til the road was able to resume the payment
of its interest obligations. After the receiv-
ership was closed Mr.. Willard conceived the
idea of raising money in New York to pay
off the foreign Indebtedness of the Oregon
Steamship Company, which operated a line
of iron steamships between Portland and
San Francisco. SO great was the confidence
of capitalists in New York, with whom he
had been associated in the Kansas Pacific, the
money to pay the foreign creditors of the
steamship company was raised IN a few days.
A new Oregon Steamship Company was
formed and new steamers were added.
AvIsIT TO OREGON.
"Mr. Willard then visited Oregon, where he
was brought in contact with the principal
owners ofthe Oregon Steam Navigation Com
pany. This was in 1879. The majority of
the stock had been owned at one time by Jay
Cooke & Co.. When the firm met with mis-
fortune the stock was distributed to the cred
itors along with the other assets of the estate,
and had been gradually bought in by Portland
capitalists. The original capital was $1,000
009, of which over 100000 0 was owned in
Portland. Mr.. Willard conceived the idea of
buying this stock and uniting the steamship
company and the Oregon Steam Navigation
Company into one corporation. A price was
agreed upon for the stock. Mr.. Willard re-
turned to New York in June 1879, raised the
money for the purpose in a very short time
and placed 1t to the credit of the Oregon
owners in the Park Bank. The present Or
egon Railway and Navigation Company was
then organized under the laws of Oregon,
consisting of the properties OF the two old
steamship companies and a railway company,
which had about thirty miles Of rails running
from Walla Walla. The success Of the new
company was very remarkable. Its earnings
were large and its stock was soon quoted
above par. The stock was $6,000,OOO and its
bonds a like amount. Since then the stock
has been increased to $12,000,00O, the
additional $6,000,0O0 being paid fol
in cash and expended in building {
railway along the Columbia river IL
order to avoid the uncertain and difncui
navigation and to meet the demands Of in
creasing business. Considerable misconcep
ton has grown out of a suit Instituted by
certain holders of old stock of the Naviga
ton company, who allege that in winding nj
the affairs of the company they did not re