Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1884-05-09
A MAN OF THE WORLD,
Keene's Phenomenal Career.

.I f..r4
A MAN OF THE WORLD.
Keene's Phenom email Career.
net HAVING FIVE DOLLARS TEN YEARS
AGO, he MAKES EIGHT MILLIONS IN
TEN YEARs-HoW GOULD sCooPED
HIM.
A special from New Y rk to the BaIti.
more Herald, under date of May 1st, says:
Contrary to the expectations of many,
who believed from yesterdays report that
James Keene had been completely over
whelmed by his recent reverses, that gen.
tleman was at his Office early this morning
and throughput the day. Many of the
best known brokers on the street called and
proffered assistance, and offers were made
in the same direction by wire by friends
in other cities. To a reporter this after,
noon Mr.. keene said: "My troubles
have been considerably magnified. Mat
tiers are being Strengthened out, and in
be settled satisfactorily"
Henry Clews said this afternoon that.
to his personal knowledge. some of the
best houses on the street haye offered to
help Keene out, but the offers have been
declined on the ground that he needs no
assistance.
1t is now believed that Mr.. Keene's liza
bilities are less than 5000, 900, and it il re.
ported that he has cleared that amount
since yesterday morning by his petroleum
investments. -.i't>ts- tA
Less thai ten years ago, it is said, Mr..
Keene had not SIS in the world. Within
three years from that time he had SIS ,OO0.-
OG0 in bank, and two years later was
known as the second great operator in
stocks in this country and was worth
IS 600 600 Mr. Kenna's fathe- an
English merchant who met with reverses
and came TO this country to retrieve his
fortune. Mr. Keene himself was born on
British soil. There are people, however,
who assert that he first saw the light at
Lynchburg, Va, after his fathers expa-
triation. Well informed persons say that
he studied law in San Francisco and was
employed as counsel in number of min
ing suits, and that it was the knowledge
he thus acquired about the ''inside'' of
these companies which showed him the
vast possibilities Of speculation in stocks
At any rate. he soon turned up as curb.
stone broker, and was employed by
banking house to do its 'street" business.
His employers soon recognized his ability.
and purchased for him a seat in the board
of brokers. He quickly became known in
California street as a successful trader.
who formed speedy and correct judgments
and was sensitive as a photographers plate
to the slightest fiuctuation in the market.
Mr.. Keene soon gained sufficient funds
to make his influence felt, and acquired a
considerable following. His first notable
venture was in Belcher and Crown Point,
and his profits we're estimated at So. 500
800. His next large speculation was In
Ophir, which, it is said, yielded the hand
some sum of $640 900 in single week. Bv
this time his friends had dubbed him Jim
Napoleon" Some of the Flood and
O'Brien properties were then selling at
enormous figures, and he had the shrewd-
ness to perceive that they could not be
sustained. He boldly asserted that thew
must go down. Down they did go, sure
enough, and the young operators bal
ance was swelled to the amount of S.
900, 900.
The failure of the bank of California
sent things in Frisco to eternal smash. .
and among the sufferers the banking
house which had aided Keene in his strug
Cling days was involved to the extent Of
a couple OF millions. lie at once rendered
his check for $3.50 600 to help the bank
pun tulOuSus h1IcI CulS IL was evident
to the new-made millionaire that the
Pacific slope would not for some time
afford theatre sufficiently capacious for
his genius.
About that time Major A. A. Seloyer.
who had lost good deal of money in
New York, bearing Western Union.
turned up at the Golden Gate in connec-
tion with some mining business. He and
his brother were heavily interested in the
Little Emma mine of Utah, the manipu
lations of which On the London Exchange
involved General Poker Schenck in so
many complications. Selover became in
innate with Keene and soon convinced
him that the New York Stock Exchange
was the richest mine in the world for the
latter's Respondent abilities. Selover ex-
planned that he was well acquainted with
Jay Gould, and that an alliance between
that redoubtable speculator of the east
and the young Napoleon of the west
would be-well just Irresistible.
Soon after his arrival in New York the
Californian operator thought he would
make little coup in order to pay the ex-
penses OF his trip, and selecting an appar-
emily weak stock, he gave orders to sell
10000 shares of it out of hands. Then he
took hold OF the tape and waited for the
price to go down out of sight, When he
had sold MS last hundred shares the stock
had only declined half point, and before
he had fairly realized the astonishing fact
it was up to where it started from.
About this time, Keene having been
duly introduced to Gould, a close alliance
was apparently formed between them.
Major Selover making "a good third in
the presumptive race for millons. After
few turns in various stocks had been
successful, it was proposed to begin a
bear campaign against Western Union.
Keene and his followers borrowed i'm
mense quantities of stock and sold it
''short." The prices dropped very little.
Somebody was evidently supporting it,
but who was it? When they got the an
swer to this question it was found that
Gould had been buying the shares as fast
as his associates sold them. 1t was ira
ditlon that his patrons in former trans
actions of this kind had made away with
themselves. In this case. however, the Sc
c1et got out too quickly and the pro-
gramme was varied a little-Selover being
put into financial ''hole'' put his faith
less associate into another sort of hole
throwing him into an area. SINCE that
lime Mr.. Keepe has been Mr.. Gould's
most constant and vigorous opponent on
the street.
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