Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-25
VILLAR1'S VACATION.
SO 4TH'S" EXPLANATIeN OF HIS RE-
GENE RESIGNATION.
1t Was Forced Upon Him by Financial
acknowledgements Reports of the
Magnif1cence of His New House-What
Mr. Willard Thinks of Being Kicked
When He Is Down.
Especial Telegram to the Globe.

Especial Telegram to the Globe
NEW YORK, Dec. 24.-The occurrences in
Wall street for the last two or three weeks
have been of a dramatic sort. For the
second time in the history of the enter
prise the Northern Pacific railway has been
in financial collapse. The young man who
took control of it and drove it with great
vigor to its completion, and scarcely cele-
brated his success when untoward times
seized him, and he not only lost large
sums of money himself, hut those who
had put faith in him, not without reason,
for years, found that the concurrence of
events had been too great, even for one of
his address and moral courage. All that
ever heard of Willard, whom I do not know
at all, is creditable. he probably has the
errors of Germans in our country who are
the best class of our Immigrants, and
come to stay with us and ere
much indebted in many directions, yet it
is to be doubted whether they are the
equals of the better class of natives of the
soil for business and direction. The distin-
gushing feature of the American is his
adaptability to all situation. No ties nor
tradition hold him at anchor. Nearly all
Americans were brought up under certain
fixed and Strengthened beliefs, and yet at
the present day NO nation OF men, the
Germans hardly excepted, is more eman-
cipated from superetitions. The
American worships the day in which he
lives and the day that is
to follow it. He has respectful esteem for
the past, but does not square his life by
the condition of his parents and ancestors.
It seems he has shown in the management
of his railroad property too little of the
Democratic instinct and too much of the
autocrat. Hence his failure. 1t Is said
that his bankers consider that he was too
stiff, and wanted his own way too much
after the fashion of tyrants.
I dropped into my friends, the brokers',
day or two after Willard had resigned
from his properties, anu asked him some
questions.
"What do you think of this man Viii
lard?"
Il am not personally acquainted with
him" said he, land have been prejudiced
against him during his more triumphant
career. But now that he has met with re-
verses, am bound to say that he is one of
the biggest spirits We have had in con-
struction in this country. Some say he Is
a rascal, others say he is gentleman.
Whichever view of him you take, he is a
great, big fellow. His strangeness in
this country, his foreign antecedents and
the way he mas worked right into our sys-
tenn and played his part, show me that he
is man."
SIS it supposed that be is rich?"
"There are different views about that.
Some are willing to accord him con-
science provided he has got no property.
Yet Willard might we'll have put something
aside for himself in better days. This
world of speculation and construction is
so uncerta in that every man is justified in
taking care of himself at the right time,
provided he does not sacrifics his rsplta-
ton. Men come into nay office and say
that Willard sold out hfs stocks last sum
mer when they were high. l do not be-
lieve it; otherwise it would have been told
at that time. Whatever is going on in the
street. is pretty we'll knoEn at the time of
its occurrence. II will not do to wait till
man meets with reverses and then jump
on his remains and say this man did SO
and so year ago."
"Have you any information about Mr..
Willard and his new houseW The
spot where we were talking
was hardly two squares from
Wizards house in the rear of the great
| Catholic cathedral. Said ny informant:
Eyes, 1 can give you some Information.
One of my customers went 70 see Mr.. Vii
lard last Sunday, and he reports TO me that
Willard said to MIN Have you noticed the
extravagant statements going through the
newspapers about the cost Of my house?
One account IL this west. says my house
cost from s5.Oo0,0O to S7,O0O,0OO, and is
rival to Mr.. Vanderbilts honse. Nov
bought these lots" said Mr.. Willard,
that is to say the two lots on
which my house now stands, when
real estate was cheap, aud paid about
S35, 600 for them. When l concluded to
build house I thought was pretty rich
man and could afford it. But my entire
property here, house ard lot, haYe not cost
me $5,000,000. The remainder was taken
up for some friends who have built resi-
dences on the came plan as my own, the
three making a triangular court, one of
these persons is Mr.. Holmes and another
Mr.. Adams, Mr.. Willard added: My
wife went to her dressmaker some time ago
who charged her what she considered too
much money, and she rather exclaimed
against it. Said the dressnaker: "Why,
what do you care? You are just going
| into house that cost $7,000,000" Mr..
| Willard then remarked: 1T is mortifying
| and annoying in the midst of ones re-
verses to see these Representations. l
did not buy lots on Fifth avenue at any
extravagant figure, though got in more
modest portioa of the same nelghbos-
| hood"
| When the broker had finished I said to
him: "Does the last statement of the
Northern Pacific railway show that the
| property can earn much?"
| mo, Pm sorry to say it has not. That
road has been built SO rapidly that popu-
| lation has not grown up with it. 1t hard
| ly pays operating expenses at present.
Nevertheless the railroad is finished and
| there will be movement on that line,
and one of these days 1t viii be one of the
most populous belts between the inter
mediate west and the Pacific It will take
| time, and as have always supposed, the
failure of Jay Cooke would be vIndicated
by the failure of another man coming af-