Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-01-04
Mr.. wizard q Ruined Man.

HIS PRIVATE FORTUNE SWEET AwAY-Hls RKSIGNA-
TON As PRESIDENT OF THE NORTHERN PACIFIC IN
THE HANDS OF THE DIRECTORS
1t was said In Wall street wednesday that Mr..
Henry Wizards private fortune has been swept
away. It was stated Wednesday that MI. Willard
had declared to MI Frederick Billings that he was
ruined financially, and that thereupon Mr.. Billings
had congratulated Mr.. Willard, saying that, this
being true, 1t was q conclusive answer With which
to stop the mouths OF Mr.. Wizards enemies and
furnish proof OF Mr. Wizards sincerity and honor
us pacing MN IN position to show mat ne had
not enriched himself at the expense OF the great
corporations so long under his control
A New YORK Herald reporter who applied to Mr..
Willard, who has just recovered from serioUs illness,
pale and his features plnched, and he had the
Tagged manner OF one who had suffered physically
and Se 70 Ss to sn inf,ma an
friend and adviser OF his tMr. villardS who, he
said, might perhaps speak for him. This gentle
Freely OF M Vluards position, and, as he said with
an intimate knowledge OF the subject.
Mr. WIZARDS RUIN.
yea said this gentleman to the Herald re-
porter; sthe story you tell me OF is true-Mr VII
lard Is ruined man In bis private fortune. He
hasn't as much money to bis name to-day as you
nave II has all gone TO the help OF the great en-
terpr1ses he has been at the head or There can be
no question of his conscientious integrity, for he
has voluntarily sacrificed his private mean rs to sup
port the Northern Pacific Mi Willard deserves the
sympathy OF the public instead OF the vi.ilcation
and abuse he has received from some quarters lie
Is very Sick man. This thing has prcyed upon his
mind so that thought at one time that he would
never recover his mental faculties"
" Has he nothing leit:'
Absolutely nothing. BIS stocks, his bonds. his
TWO residences, are all involved in the wreck He
has saved nothing. He never was SO rich man as
was reported. he was not worth ten millions, as
nave heard II said: five was nearer the figure, but
ten made bigger mouthful."
HOW 1T CANE ABoCr
"Why did Mr.. Willard sacrifice his own fortune:r
"Well, II Is a long story. Briefly, you must know
that the burden Of this great enterprise upon him
has been almost beyond belief. Upon him alone
depended the carrying out OF this gigantic under
taxing III Was absolutely necessary that the road
SHOULD be finished before the present Congress met.
What its late al The hands Of Congress would have
been otherwise. the bills that have already been
introduced viii show. Nost railroads with char
ter from Congress are permitted to issue bonds for
eScFt twenty-five miles Or SO OF completed road.
Lhese are sod TO raise money with which TO build
But the terms OF the Northern Pacific charter re-
CURED IT to complete given number OF miles be-
lore bend could be issued. his made IL necessary
lof Inc company TO borrow loney-soDe times as
much as s12,Q00OIO or .UOu,AG0-aS at the time
GaEneid was Shot, when no action coI,ld be had
from Congress The first thing President Arthur
was called on to 10 was to authorize the issue OF
DonuS for over thrte hundred miles OF completed
road All this fnanciering had TO be done by Nil.
Willard himself"
THE RECENT DECLINE.
when the rascals in Wall street made COM
blned attack on the stock recently, Mr. Willard was
straining every nerve to preserve the company's
credit. and began to sacrifice his own money. To
make matters worse, he was away from the city,
and had to do business by telegraph A certain
banking firm was in difficulty. and would have
Tailed II he had not come to the rescue by raising
money on DOnuS and property belonging TO himself
individually. SO he has gone on giving OF his own
money until everything he owns is pledged.
but there Is One source Of strain upon him which
nave not mentioned Money haSh ppn h11,St frfo
his hands to invest for other people. All financial
men know what that experience is. Friends would
lHslSt on having him invest their savings When
the STOCK Went down, such was Mr.. Wizards sense
OF honor. that have known him many and 10 INV q
time to put his hands into his own pocket and pur-
chase the stock to them from its depreciation
nave In mind one case within my own know edge.
II should Iel you the mans name ydA would lie
surprised In this Mr.. Willard voluntarily suf-
600 in this way"
Has VI: Willard resigned the presidency"
Yes ms resignation is liz the hands OF the direc-
tors, and will be accepted at Fridays meeting, 1
suppose"
Mr.. HORACE WHITE CONFIRMS THE REPORT.
MI. Horace Whites attention was called yester-
day to the reports affecting Mr.. Wizards financial
standing. With the request that he would get an
authorized statement Of the facts for the public
HIS attention was also called TO the reports circu-
lated that Mr. Willard had secured profits while
every one else had lost in the Northern Pacific en-
terptses, and it was suggested to him that If the
to him, might consider it their duty to say so In
manner that would admit Of no question There
upon Mr. White said that he desired to consult with
MI. Holmes before making any statement. Several
hours afterward Mir. White said OF the report that
Mr.. Willard had lost his fortune 81 am authorized
to say that II is substantially correct"
HE HAS SACRIFICED EVERYTHING.
From the New York World
sWhat do you think of Mr. Wizards assertion
that he Is poor man and has lost everything in
the depreciation In Northern Pacfc?" was asked OF
a well-known man intimately connected with Mr..
Willard
sit is true" he answered ssMr. Willard is poor
man"
s'What do you mean by poor MANI"
81 mean that he has lost everything. The house
OF which so much has been said cannot remain his
own His Dobbs Ferry ma nslOn has been swept
away by the flood His entire fortune has crumbled
to dust"
''But some time ago he settled on his wife half a
million dollars What Of that?r
THAT has gone, too. Mr.. Willard is a BANKRUPT
He has saved nothing from the wreck save his rep
utaion..