The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1883-12-28
A MASTERPIECE OF'ISFLATION.
Prom Heinrich Hilgard TO Henry Willard
The Greatest Railroad Blow Ont
Or Record.

Il AoAAncA idLSC nOlucEOA OLtSOu lIauS-
continental stock, whom Mr.. Wizards
friendship is said TO have cost $4,000,
saws:
when Heinrich Hilgard was a New
York reporter he is said 10 have been al
most communistic in his democracy.
Nothing pleased him more than TO he
able to puncture the epldermis OF a mill
iOnaire. When his salary reached so a
week he felt himself as good as a prince.
Once in a while board bill would en-
barrass him. but he did not let Such mat
tiers trouble him.
Some years after the war me returned
TO Germany. About the same time ;be
panic occurred, and the bottom fell out
of all railroad securities. The foreign
holders Of Kansas Pacific stocks and
bonds were in despair. Their property
had become valueless, and they were
helpless. Mr.. Hilgerd appeared as de-
liverer. He sought these persons out and
told them that he possessed information
and an idea which would restore their
property 10 its former value. To such
good effect did he talk that they appoint
ed him their agent. He came 10 Amer
lea again and succeeded so well that when
he sold the road 10 Jay Gould he made
$4,000 out of the operation. This was
his start. BE then came 20 Oregon ard
soon controlled the phenomenal Oregon
Railway and Navigation Company. From
this new company was evolved and the
new company had new president with
new name. He became Henry Willard.
This company has stood the most re-
Hsaa-l-al.la -. tor
Mr.. Willard invented the blind pool.
He called upon all his friends TO enter.
Having blind confidence. We did. We
subscribed Sl2,000,0O0. He was our
trustee. The Oregon and Transconti-
mental Company was formed. IL has
been the receptacle for the loads which
Mr.. Willard and others accumulated IN
their speculations. If the deal was profit
able il was Wizards. If improbable the
company's. Into IL he emptied his Rail
way and Navigation stock around 10
OF course the company could not stand
this.
The heaviest losers are his friends,
those who had confidence in him. Mr.
Billings has lost hundreds of thousands
ID. O. Mills, Geo. NJ. Pullman, Horace Por-
ter, A. II. Barney, B. p. Cheney. w. X.
Vanderbilt. G. B. Wright have all lost.
They are among the worst hurt and can
stand II. Some of the Others cannot.
Mr.. Willard has scarce any of the
stock of any of these companies left. His
name appears on the Northern Pacific
books for a small amount bought for the
occasion, but most of this has since been
sold. He has not lost"
Five years ago he had hard work to
pay his Office rent in the Continental
building. To-day he is worth ten mil
lions. He has a two-mIllion-dollar house.
and a twO-million-dollar claim against
the Oregon and Transcontinental COM
pany among other things. A little while
ago he transferred half million dollars
IN government bonds TO his wife. / con-
slider 1t the most gigantic piece of rail-
road initiating ever accomplished. It's a
masterpiece"
WHERE SOMZ OF TIE MONEY Is.
Mr.. V. on the 18th. moved into his
wonderful New York palace. This tri-
umph of architecture has been described
at length in The AsToRIAE. II is mod
elled both in its exterior and interior
after 4 Roman palace, and consists really
OF six houses. Mr. Y. himself occupying
one entire wing. which Is separated
from the other by an enclosed
court. In height 1t is four
stories above the basement. The
drawinc-rOUms. occupying the front of
the house. are furnished N Light woods
richly carved. with an slunlSIAce of rich
tapestries. The dinjnG7oorn y aiso-eu-
tirely IN carved Woods. The hail is of
yellow marble, the floor being in mosaic
q sl-l the ceiling in a yaulted arch. or
rather series of arches, al IL marble and
designed by st. Gaudiens. II alone will
cost 100000 when completed. The music
room, at the extremity of the hall, is the
most costly room in the mansion. Ii
occupies two stories, and is a miniature
theatre. The gallery for the musicians
is after a gallery in the Fontainebleau
palace. Ii will probably be two years
before the finishing touches can be put
on this room and the decorations are ex-
pected to cost $4,000. None of the work
has been done by contract, 50 that the
exact expense has been unknown, but it
Is stated by the architects that the struc-
ture finished would cost fully million
dollars unfinished. Over nine hundred
thousand dollars had been expended
some time ago. High wages have been
paid for the most skilled workmen, the
Italian artists some of them demanding,
1t is reported, $4,000 before coming TO
this country.
For three weeks, furniture of the most
sumptuous kind had been arriving.
Heinrich has stated that the interior
decorations and furnishing of his house
would cost nearly a million dollars
Marcott d. Co., of Paris, have manufac-
tured the furniture. There are sets of
chairs which cost $500 apiece, on whose
backs are oil paintings of real merit.
IL has cost $4,000 TO put this furniture
In place alone.
The main floor of the new house is not
yet completed. Workmen will be en-
plOyed on it all winter. Six artists
brought from Italy for the work are
decorating the music room and main
hall The labor is of the finest nature.
and the best of sculptors are employed on
the marble work Fifteen inferior work
men are doing the less important work.
Heretofore Hilgard has lived at his
Dobbs Ferry house, stopping st hotels
when remaining in town. The Dobbs
Ferry place cost him nearly a half mil
lion. The ground alone is worth $500
an acre. The decoration of one room,
done In gold, cost $4,000. There he
lived IN elegant style, keeping a stable of
twenty horses, and entertaining in a be-
coming manner. There was always
retinue Of servants about the place, but
most of them have now been brought TO
the new palace, the housekeepeT being
left In charge at Dobbs Ferry. 1t is un-
derstood that in the summer. when not
at the watering places, he will occupy
this country seat.