The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1883-12-25
Portland and the Willard Stocks.

The losses by the depreciation III Vii
lard stocks have been great set back to
this city: fully $6,OOO,OOO being taken
away that would otherwise have been in
vested here IN building and other enter
prises. The number of rich men (thank
goodness the poor couldn't afford TO buy
such ktocks) who have been ''cinched'
by the bear movement in Wall street is
much larger than the public generally il
aware of. A prominent banker who has
facilities of knowing. says that there
were very few men IN Portland who had
ready cash but went into IranScontlnen-
tai and suffered for it, and that nearly
every day he hears of some new unfortu-
nate. who prefaceS his demand for loan
with the announcement of having quit
loser IN Wall street" According 10
New York paper at hand the banks Will
loan little or nothing on Willard securl-
ties. and confidence is entirely destroyed.
not only IN the stocks, but the officials
who make the game and play with load
ed dice"
The Sunday OreyOaiuR eXpr ssses
doubts regarding Mr.. Paul SchulZe's re-
ported losses in aranscohtinsntal stOcAS.
but IL Is nevertheless true, for be was
sold out by his brokers, like }. y.
Dolph. some time ago. Further than
this, Mr.. G.. II. Prescott. manager of the
q. X. a. y. Co, lost very heavily by IN
vesting in ''Yillards." 50 heavily, IN fact,
that he was visited with nervous prostra-
tion, and has gone east for the benefit OF
his health, which we hope be may re-
cover and likewise his lost money. Dir.
Prescott IL a gentleman who has many
warm friends III Portland, and not one
of them but what will regret tO hear Of
his reverses. Mr.. Oakes, the bosom
friend os Mr. Prescott. Is also known -
have speculated disastrously III Trans
continental. 1t is currently reported on
the street here that Willard c!eaned up
about Sl0.0O0,000, and that his frienCs
were the principal 'contributOrs-no one
being in the secret except Carl SchurZ,
the editor of his paper, who has Just re-
tired from journalism with Sl,COO,OO0,
made on the deal. The resignation ot
Willard from all the corporations except
the Northern Pacific, is said To have bet n
brought about by influential men who
made it plain to him that there was lack
of confidence in his management-a fact
that was made palpable IN most uncom-
plimentary way by the stocks making
Jump skyward the moment the street
OI HIS llAuh
is not ruling as the great Il am" even in
the Northern Pacific, as well as these
other corporations, there is a well ll-found-
ed belief: and as a small straw We point
To the fact that Otis Sprague, who was
of that element who lost power on ac-
count of friendship for Billings and
Wright, will be promoted TO the superin-
tendency of the Pacific branch of the
Northern Pacific railroad. under Mana
ger J. NJ. Buckley. Personally. Mr.. Viii
lard is financier of mushroom growth.
He has never handled railroads or mill
ions before, and it is natural that such
old experts, in such matters, as Billings,
should look with distrust upon his man
agement. Men who have thousands of
dollars invested want an experienced
man TO manage their money What eX-
perience has Henry Willard ever had in
such things? But yesterday he was a
man who couldn't pay his board bill.
and to-day he poses as a great railroad
manager and manipulation of millions.
The feeling prevails here that he will lose
the presidency of the Northern Pacific
railroad, and in proof of II prop
erty has deprecated IN Albina and
is booming at Tacoma. With the pros
pect of the control of the Northern Pa
cific being in the hands of such men as
Billings and Wright, Tacoma makes no
mistake IN holding its town lots at stiff
| figures. 1t is a singular thing that Mr..
Willard should cling TO the Northern Pa
cIfic Railroad in preference to the Trans
continental, which he has represented as
owning a controlling amount of stock III
the o. X. d y. Co., the \. p, and other
Willard corporations; and on telegram
! to Senator Dolph, of this purport.
Portland capitalists were induced
to buy the stock. IL the Transcon-
tinental company rules all the
} Others, why did Willard resigni
Simply because the Transcontinental
does nothing of the kind, and its stock,
like that of Erie, when the English stock
holders were thrown down." will never
come to par. Willard has duped the
people, has grown rich at it, has been
| found out, and will have to go, even if he
did vote $54, ,O00, 900 worth of stock at the
last election.-.SUnd0y Welcome.