The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1883-12-21

There have been few business careers Ii
the United States more conspicuous In th
past two years than that Of Henry Willard
He emerged like . meteor from that loca
obscurity which envelopes the small railroa
President In this day and generation an
sped athwart the journalistic sky - tb
great financial genius In whom . few CAPT
talists In the little city Of Portland, Oregon
had sufficient confidence to trust seven mil
hon dollars - 90 blind pooln-that ID
handed him the amount and told him to d,
with II - be would. or course this was ai
buncombe. Portland and the Oregon Navi
CATION Company had TO capture the North
ern Pacific organization IS . matter of self
protection, and this seven million dollar
enabled Mr.. Willard to buy In enough NOR
stock TO get that control, Dust the Billing
administration and elect officers who woult
subserve their interests. He accomplished
the purpose, and not only placed himself q
the bead Of the Northern Pacific, but Of th,
consolidated interests known as the Trans
continental Company. Mr.. Willard ct one,
leapt into worldwide notoriety, and th.
Northern Pacific came into q prominence
that secured sufficient moneys to give the
work Of construction that powerful impulse
which carried its line TO completion-so fal
as through connection Is concerned. 1t Ii
not TO be supposed but that the old admins
tration writhed under the new relations
but the first great object to all stakeholder.
was to get the road completed and save the
land grant, and so although the extrava.
gsnce and wildness of the new management
was apparent and there was an undercurrent
of resentment, the situation was endured
until the last rail was laid, the last spike
driven and the land grant assured. Then,
almost IS ex.fresident Billings Vas making
his memorable speech al The spike driving,
which showed no love for V lizard, the bears
started the raid on Willard stocks. on Wall
street that has had no cessation. 1t devel.
oped that the Northern Pacific was hope.
iessly In debt, and then began Mr.. Wizards
inexplicable explanations Of how the Trans.
continental Company was related 10 It, held
the obligations against 1t, and would furnish
1t money, and how 1t was . kind of family
matter, and IL was not the business of any.
body In particular except himself, and every
thing was lovely. This explanation knocked
all the stocks down several more points.
Then 1t became known that It was ahso-
lutely necessary for the Northern Pacific to
have twenty-five million dollars to save It,
and capitalists refused to come forward with
the amount until they had assurances of re-
trenchment and more economical manage.
ment. Mr.. Willard had too high an opinion
Of himself to understand that this meant
che must CO." and nothing else. So he dis
banded his "last spike" guests as hurriely as
possible, and on the heels of reckless extrav-
agsnce sent out the edlct of disastrous re-
The repair shops were closed
Cinnamon substituted for white men,
wherever 1t was possible; wages cut down
until good employees left the road
by scores to give place to cheap and fire.
quently incapable men, and even the switch
wstchmen and guards discharged. 1t Is
for the immediate present, but
Il Is not economy; and whether II was one
'f Mr.. Wizards own schemes, or was kindly
to him by some one who has
cordial desire to see him dethroned, the effect
mas been the same. The capitalists would
not put up the portion of the twenty-five
million dollar loan needed for the immediate
purposes Of the TranscontInental until he
the presidency of that company,
Ind the indications appear TO be that he will
De choked of from the presidency of the
Northern Pacific before the balance Is paid.
The meteor Is waning. People In New York
ire beginning to follow the example set In
Montana in September, and say what they
hink about him personally, and talk disreS
pectfully about his bank account. There
will be great many dry eyes In Montana II
lejs displaced; The entire management of |
he road, Its actual and announced policy, |
nd Its relations with the people Is we'll rs
he finances, need sthorough overhauling.
rhe succession OF Mr.. Billings would, We
'elisve, be ominous of good as has been |
aid, "any change from Willard must be for |
be better" We believe further, that 1t is
Sir to claim we represent the sentiment Of
bout fve-fourths Of the people Of Montana
n saying we would be very glad to try the
experiment. and take chances.