Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-05-02
JIM KEENE's FAILURE.
The RsignIna Sensation lnNsw York
Monetary Circles.
THE CAUSES THAT LEAD TO !
Constant sses-Braye Fight Against Fate
A History Of His TransactiOOs-Ihs
FIutter Caused by the Announces
ment-Scenes on the Street.

X. he6ne Is unf DdleO. 4n0 AoSt sASs -
had 'Iaid down" on his privileges was
made known so late yesterday that not
few operators, remembering the often
circulated and always, heretofore, I'M
founded -umors OF bis insolvency, were
somewhat inclined TO deny the report at
tributing It to his enemies or even dodge
on his part to hedge on unpro6tableistock.
That he has been losing money for months
some of the wise fellows now say they
knew. @As< -
The trouble eliminated in an attempt by
a put and call broker to get Mr.. keene to
receive $500 shares OF Erie at 22 tnat De
| ing the price at which be had agreed TO re-
ceive it in the put he had sold. other
holders of his privileges also tried 70 de
liver ste cks TO him to the extent, 1t is SAID,
of 10 600 shares or more, but were unable
TO 90 so. They had, according to the condi'
lions of the privileges, notified Mr.. keene
on Tuesday of their intentions to deliver
him the stocks. Upon presenting them
they we're kept waiting On one pretext ana
smother until at last Mr.. keene said that
he and they would have to agree upon a
settl. ment price or they could sell in the
market, and be would DO what he could 20
psy the differences. When the fact that
Mr.. Keene had really Laid down" on his
pIiyiIeees became known among those who
were late on the street, the put and call
brokers made il very lively at their head.
quarters in New street. Some Of them held
srge sums of Ktene's paper which they
were more than anxious 10 unload. One
man, Vroome, of Micbelot Co., IS SAID to
hold so 600 shares OF stock. The privileges
bFgsn dropping and finally reached ~ per
cent.of their cost price.
What Keene Says.
Mr.. Keene says nothing. He admits his
failure without sDy explanation. He re
fuses to see reporters, and the only thins
to be got from him was the statement sent
ut by the Press Association yesterday. S.
far he has refused all offers OF assistance
althongh they have been numerous ano
generous. What his plans for the iuturt
are he does not indicate in. the most re
note way.
what His Friends Say.
Friends Of Keene are vehement in their
protestations of faith in the fallen spscu
iator. They say wild speculations ruined
him, but that he Is the luckiest and the
olucRiest man on the street, and he will
soon be on top Bets are freely offered that
he will pay 100 cents on the dollar. Old
>peculstols say he is completely smashed,
and will never be factor in Wall street
sesin. His transactions were principally
in Erie, Western Snion and Union Pacific
stocks.
Lille OIL.
There ere some United Pipe Line certif
Gates. The amount Of these is estimeted
at about $4,000. They include calls at
81 10 barrel, and puts in the neigtbor-
hood Of 9S cents. II was reported that the
sharp advance in the petroleum market
Yesterday was partly due 20 the efforts OF
the Stsndard Oil Company to prevent the
free delivery of oil on the Keene puts,
Mspy Of the puts issued by Keene within
the last few weeks have been extravagantly
above market prices. In addition to put
on Erie at 90 sgainst the closing asked
quotation OF 15ss, were puts OF Westera
Union at II, sgainst G21G asked last night;
Union Pacific at 7S agaipst 68%c; Pacific
Mail at 81, against 447a and other
stocks in thesame relation. 1t is believed
Keepe realized the hopelessness OF his
ntfairs some time ago and sold puts at
prices that would tempt purchasers 10
order to raise money to meet his immediate
necessities, desperately hoping possible
change in stock speculation wonld save
him. A friend Of his acknowledged that
Keene's operations on. privileges recently
had been utterly wild" The fact thai
Keene has been losing money in the street
wss recognized by careful observers
long time ago. For more than year
mspy conservative houses have refused to
,ccept his privileges as partial margins
ior the operations Of their customers.
In the Markets.
The petroleum market assumed'a bullisb
tendency from the first yesterday morning
rbe price varied from 2to 2H cents, clos
l.. alu nf 40 Ru auaninU tho
excitement had about subsided and no
further disturbance is looked for.
A BIT OF History.
Mr.. Keene came to Wall street in No.
yember, 1872, bringing with him $5,UO1,OO9
which he made in California first in tn
great rise IN mining stocks and afterward,
venture was with Gould in the Atlantic
and Pacific Telegraph combination agAins'
the Western Union. In the sumner o!
1877 the two men quarreled, aud keeue
vas hailed by Wall street as RISING
power distinctly in opposition to G0uld
At the time of the railrosd riots in 1877,
KPepe was almost the only man who dared
ouy stocks. He bought them by the ream
70 the face of the severest decline, and lift
nsd not been for him the consequences to
he market probably would have been ter
rible. Although he traded on both sides
If the market, most Of his money was
made in the rise Of 1880. l believe thai
It one time his wealth was fully $4,000,
100. The great great grain corner with
which his name is SO popularity connected,
caused Mr.. Keepe loss OF about 5, ,OOO.OOO
Since 1880 he has steadily been losing
money.
Eene's Horses.
KePne's American stable is at Shesps-
head bay. and probably the best animal 10
L is Dutch Roller, who is not likely to win
spv great races, All his horses on both
id, of the ocean would not probably nov
fetch at suction more than $4,000 though
Fox hall might bring 10000 OF that. keens
made some attempts at breeding, buying
the celebrated Derby winner Blue Gown
for big sum, ALTHOUGH the horse was Tar
advanced in years He died on the yoyass
to America. In days of prosperity keeue
bought the Matthews villa at Newport and
spent his summers there This was destroyed
nv FIRE and never rebuilt. keene owned
little real estate beside his New Iork
property, and that was heavily mOrtgaeed
He st one time owned some costly paint
ines. Jsy Gould took the best OF them
Rosa Bonhsur-ofT his hands at q price
much less than Keene paid for IL, and II
row adorns Gould's parlors in his Filth
avenue residence.
A Personal Point.
Illustrating the f1slity OF jim kEENEs
wife 10 the fortunes of her husband whom
she rr arried against the remonstrancs oil
iii friepCs, and by so doing placrd herself
for the time under the bane of society b.
necouing the wife Of a gambler, is an an
ecdoie related BY KEENE himself TO person
si friends while In the zenith OF bis wealth
and glory.
He was running q gambling ssl'on in
ssp Frspeiseo. The wheel OF fortunf
,urneG against him and bis bank was burst
I'd He.S as reduced TO ahject peuury and
didn't have 8 mon.bful 10 eat IN his hon@e
ard not a dollar TO buy with. CorAipg
home at night De iected, spiritless, and ~ito
rbouebts OF suicide in bis brain, his wife
met him at the door with q bright smile
md A loving kiss. Loading him into ths
room she sat down by him and lovingly
.sr,sstd 'shsr dear boy" until excited
nerves and besting heart we're kissed u
sIe.p Then she invited him to ths dining
room. where, to his sstoDishmenth he touna
| prensred one OF the most delicious sup
| ners be bad ever eaten. No qnestloas
| we're asked until the meal wss over, tnen
| ..~oaoh;n1 HE wIfe with trembling voiG7