Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-05-15
KEENE'S KEENNESS
Could cot Save Him from the Sharks
who Lie in Wait for the
Big Whales.
In Want Of Money He is Compelled TO
Sell a Picture and Mortgage
Home.

states that transaction OF great interest was |
reported on Wall street Friday. 1t was |
not the sale Of great block OF stock or the |
negotiation of an immense loan, though It !
eIcites as much interest as either of those |
would. 1t was, however, simply the sale Of
picture, but the seller was no less man
Than James E. Keene, aud the purchaser |
was his most noted antagonist in the great |
stock deals Of the past few years, Mr.. Jay |
Gould. 1t has been the subject of much re-
mark on the street OF late that Mr.. Keene |
had forsaken his old brokers, Samuel Boo |
cock & Co., and was doing business through |
Dir. John Pondir, the Apollo of Wall street,
and the report was that Mr.. Pondir had ne
gotiated the sale OF the picture for Mr..
Keene. The transaction was made doHbly
interesting from the fact that, az reported,
the picture was sold al a great sacrifice,
which was interpreted as meaning that Mr..
Keene was in search of ready cash.
There is no Disgusting the fact that Mr..
Reene ia the subject Of a great deal Of gossip
on the street Just now. Nor il the gossip
confined to Wall street. Yesterday private
dispatches were received, it ia said, from Chi
cago, making inquiries relative to Mr.. Keene,
and saying that it was rumored that the
great speculator had been losing heavily Of
late, and that his immense fortune was rap
idly melting away. In view of these reports,
. I
had disposed Of a great painting az q sscri-
fee, and one that he had pufchssed only
little over year ago.
A reporter of the World sought to confirm
the report of the sale of the picture.
Mr.. Keene could not be found by the re-
porter, but he is reported to be very much
incensed at the reports which have been cir
culated about him, and to deny most en-
phatically all statements rejecting on HE
financial standing.
Mr.. Gould, at 3 o'clock Friday afternoon,
was approaching Chicago on a special train,
. and was expected to arrive yesterday evening
in this city. So he could not be seen.
Mr.. John Pondir shut himself up in his
office at No. 20 Exchange place, and refused
| to speak with newspaper men. Mr.. Henry
Clews, however, who was seen by a reporter
of the World, said he knew that Mr.. Keene
had disposed of picture to Mr.. Gould
| through the agency of Mr.. John Pondir.
| Mr.. Ciews has fine collection of paintings
himself, and is an authority on such subjects
| among the members OF the Exchange. His
office in New street is crowded with paint
| iuss, and his home in Fourteenth street is
almost gallery OF fine arts. Mr.. Clews said
| the picture disposed of was a noted one. Its
subject is q cattle scene, and the artist is the
| famous painter of cattle, Rosa Bonheur. Mr..
Clews said that the price paid for this
picture by Mr.. Keene about year
and a half ago was $4,000 Mr..
Pondir he's been trying to negotiate
| the sale for some time and tiaally disposed oil
| il 10 Mr.. Gould Tor S16,000-a sscrifice on
| the price OF $4,000. Mr.. Clews, however, ex-
pressed his belief in the fnancisl stability OF
Mr.. Keene, and said that nobody believed
| the reports of his being on the verge OF
| bankruptcy. The only ground for such re-
ports was the fact that Mr.. Keeue has recent
| ly mortgaged his property in Newport, and
| has Just disposed of thiG fsmous picture.
| Mr.. Clews is a neighbor Of Mr.. keene al
| Newport, and the latter related how he OBJ
| tanned his estate there. 1t was shortly after
| the panic Of 1878, when real estate took
| tumble, and Mr.. Keene obtained the prop
| erty at a bargain, paying in fact only $4,000
l for a most desirable estate, convenient and
| beautifully located. Some years ago the
/ mansion burned down. Ii was Mr.. Keene's
intention to rebuild, but he eglected to do 30.
/ A little over a year ago he informed MIR.
Crews casually that he was in consultation
with archit ects with regard TO rebuilding and
| excused himself from an invitation to dinner
\ on this accorut. But for some reason or
other Mr.. Keele has never rebuilt his dwell
| ing, and short time ago he mortgsged the
| property for $4,000, which shows how rap
| idly real estate has advanced at Newport.
Mr.. Clews says the property, though the
| original dwelling is destroyed, must be worth
| $l25 900. Mr.. Keene lives in gentlemen's
1 quarters in West Tenth street, elegantly but
| moderately. The sale OF his most valuable
| picture and the mortgagipg OF his Newport
| estate, Mr.. Clews says, may be evidences of
lack OF ready cash, but they are not proofs
of his impending financial collapse, as has
been reported.
II hrOf late iauf i'm fer
ence to the matter. Mr.. Conner admitted
that Mr.. Gould had purchased "from Mr..
| Pondir" s painting by Rosa Bonheur, and
| that the price was "at least $4,000" Mr..
| Common, however, spoke strongly in regard
to the reports concerning Mr.. Keene. ave
have been in several fights against Mr.
Keene, and | would be likely to hear of his
impending bankruptcy il such was the fact
The reports have doubtless been put in circu-
lstion by his enemies, of whom he hss many.
But l have no confidence in them. Mr.
| Keene is very shrewd operator, more
| shrewd than many persons give him credit
| for. He is still entering his fast horses in
the English races; he is still engaged in
large stock operations; he has large inter-
l est-about $500, 000-in the Tidewater Pipe
| Line Company, of which 1 am a stakeholder.
| All this does not look like bankruptcy. The
| sale of picture does not indicate that he is
| in need of money 10 keep ahoat. Several
brokers have cautioned US against dealing
| with Mr.. Keene, giving as a reason that his
| old broker, Mr.. Boocock, no longer did busi-
ness for him. But that does not mean any
| thing. Mr.. Keene and Mr.. Boocock have
| several times had fallings-out, but in .
| month or 30 Mr.. Keene has been seen TO be
doing business through his old brokers. l
| don't think Mr.. keene has transferred his
/ business in the Tidewater Pipe Company.
/ II he had / should certainly have heard OF i"
| An old and prominent broker in conversa.
| ton with reporter OF the World last evening
| said that it was the general impression on
the street that Mr.. Keene, though perfectly
| solvent, is very much in need OF ready money
| and this impression has deepeued into con-
| viction since the colossal speculstor has
mortgaged his home and sold his noted
| picture. "Mr. Keene," he said, "came into
| Wall street with a fortune of 100000
| made in mining stocks in California. He
became a wild and erratic speculator in al
most every commodity. About two years
| ago he was heavily loaded with stocks, was
| engaged In great wheat and lard deals, was
| continuing his mining operations and was
| even dabbling in opium and other articles
of which he knew nothing. The great fall
in prices wiped out large part of his for
| tune. He lost ia Jersey Central. He has
now large holdings, but he can only realize
| from them just as he has from the sale OF
| this picture--at a sacrifice. l have it on
good authority that he is now trying TO dis
pose OF his interest in the Underwater Pipe
Company. OF course he is entirely solvent,
| but he is in need of ready money. He owes
Boocock, his former broker, and other
houses, of course, sn ample security. The
fact is interesting, because it shows that the
| famous operator is not so strong as he once
was. His friends say that he is getting very
irrit able in cnns lnnence of his ll.lnck.