The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-06-23
M'GEoCH,s METHODS.
The Harsh and Hard characteristics of the
Broken Spectator.

milwaukee Correspondence Boston Herald.
Peter McGeooh, whose lard collapse at
Chicago forms the present commercial SEN
sation everywhere, is at his home in this
city. He is better known here than else
where, but still few profess acquaintance
with him, and none claim intimate friend
ship. He is not man of genuine friend
ships and he repels sympathy. In physique
he is towering grizzly, gray and sturdy, and
as Scotch as a Scotch thistle. His two chief
characteristics, to which mainly is due all
the past wonderful success he has attained,
and to which also, in large measure, is due
his present overwhelming misfortune, are
chronic and deep-seated suspicion of every
one with whom he deals and an absolute
harshness and hardness that refnse to re-
ceiye or give common sympathy. He
asks OF the world nothing for which he
does not stand ready to pay hard cash, and
he gives nothing without ;exacting full re-
quital. He is afflicted with serious deafness,
and that infirmity has developed his natural
tendency to be suspicious. His business
methods seem to indicate that he coants
every man an enemy, and dealing largely in
Chicago, as he does, this popularity may not
be inconsistent with common prudence
But more marked than his suspicion of men
IS McGeoCh's clear-c and steel-like business
attitude, which neither gives nor asks
quarter. If he has human blood in his veins
and the warmth of heart common to average
men, the fact is never suggested by his bush
ness intercourse, Five years ago he failed
in Milwaukee fer several hundred thousands
more than he possessed, and the men who
profited by his wreck gloried in his down
fall, and tainted his helplessness; but
McGeoch only kept still. Three
LATER when at the front
again, he carried to a successful issue
corner in wheat in which his whilom victors
were HOW squeezed. Mc(ieoch, on the floor
of the Chamber of Commerce, shook his fist
in the faces OF his victims, and, like a ma
MAC, he cried out in his happiness as he saw
them suffer. The more they writhed the
more he put on the screws and the happier
he became. 1t is doubtful ii, in that success
full hour when scores of old business asso-
ciates were forced into heavy losses, he was
known to erelent in the least in any single in
stance. If pound of flesh is due, he will
collect his debt to the uttermost and the
shock of his victim is sweeter to him than
any music he could hear McGeochs suspi-
con, which deters him from relying on any
one, has n all his past career guarded him
from losses through irresponsbies or tricks
and his hardness has steadily
held him back from yielding any adj
vantage gained; but these traits, which
nave rendered his lTSbSuBCe6SeS more IDdTkeQ
than those of other men, now assert them
selves to emphasize and aggravate his mis-
fortune. For his invariable and often I'M
deserved and hard suspicion, the men with
whom he has dealt now return like coin.
Those over whom in their misfortune he has
gloried now glory over him, and in his down
fall they rejoice. McGeoch lis now taking
the bitter medicine he has relentlessly sought
to give to every man with whom he has
come in business contact, and his wry face
only delights the iookers-on Summed up
in a word, McGeoch is a business Ishmaelite,
between whom and the average business
man there is very little in common. Thus
it follows that in Chicago and his home
city the bold Scotch speculator is left in
his downfall without friends and without
sympathy. His best personal friend,
Daniel Wells, of Milwaukee, advanced
money on the lard deal as long as in his
personal Judgment the corner promised we'll;
but when he lost faith, on that instant he let
McGeoch drop, probably with no thought of
any obligation Of friendship. So, too, with
Alexander MITCHELL who WIS McGeoch's
banker. While the collateral was good be-
yond peradventure Mitchell dealt out the
money at Notebooks call; but when the deal
had gone too far, Mitchell promptly said no
to McGeoch's frantic appeal and the Nc
Geoch bubble burst His losses probably ag-
gregate $500000 more than his assets. Six
his wife his elegant and costly country horne
in the southern suburbs of Milwaukee, and
much other property in houses and land. By
this means it is not improbable that $500 600
at least will be saved from the general
wreck. That the bankrupt will pay
dollar for dollar in settlement, as is tonight
rumored, is quite improbable. He will make
the hardest terms of settlement that credit
ors will permit. This may be counted upon.
1t has been reported here since Saturday that
the lard crash had made an end of McGeoch's
business career, and that speculative circles
would see him no more; but those who re-
port thus do not know their man. He loves
revenge better than success. While life lasts,
he will never relinquish the purpose to pay
in their coin, with frightful interest, the men
by whom he has just been punished. Nc
Geoch will be heard from again, and ere
many months, will be recognized as the same
daring speculative king different from his
former hard and relentless self only in being
harder and more relentless.
AFRICAN EXPLORERS.