Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-05
Especial te.expar to the Globe. I

New YoRK, Jan. 4-WaH street to-day
assumed an air of bustIinR activity such
as it had not worn for
many months. The beginning of the new
year seems to have infused new life into
everybody. Investors, brokers, operators
in hundreds CT thousands and bucket shop
gamblers in FIVE share lots were run
ming in and out of offices, chatting over
the "tickers," comparing notes on the sice-
walk or exchanging points" Wall street
had many things to talk about, bat the
chief topic OF conversation was the resig
nation of Mr.. Henry Willard from the
presidency of the Northern Pacific road.
Opinions among the smaller fry of gpecu-
lators were about evenly divided as to
whether Mr.. Willard had acted the part Of
sharper or that of an enthusiast in the
management of The properties to which
his name is applied. When it became
known that the directors had voted him
salary fer the time he served as president
of The Northern Pacific, it was facetiously
suggested that he could use the money
as margins to go short OF
some of the stock and get square
with tbs Company. The fact that he ha d
excuted deed Of his new house to seccre
payment of his Indebtedness to the Ore
gon Railway IL Navigation company was
regarded by many as proof OF his dlsinter-
tstednsss, while q few oynically suggested
that the amount OF the debt might be very
small. and as the balance after paying
this will revert TO &rs. Willard, a great
effect, is being secured at very little actuel
outlay. As nobody however, seems
to know just what is the
amount due to the Navigation company
THIS sNEER WAS LOST.
What the millionaire and the merchant
had TO talk about will bs seen By a glance
down this column.
81 don't know anything as to Mr.. Vii
lard's failure said Mr.. William b. Van
derbilt tonight in answer to question by
a reporter. II never was thrown in con-
tact with him, and in fact do not know
him at ALL personally. Was his failure
surprise to me? Well, no; I cannot ex-
actly say that it was.
Since the failure have
read Of good many things about it which
have surprised me more than did the crask
itself. For instance? Well, this having
thrust upon him of millions of dollars of
other peoples money for investment seems
to me very curious affair"
"Hsve people ever come to you, sir"
asked Mr. Vanderbilt of the repo rter, with
an air of skeptical inquiry, "and trust
money In your hands and insisted
that you invest it.? Did you
ever hear of anybody coming to
me-" continued Mr.. Vanderbilt with still
greater air of inquiry, 'and putting hun
dreds of thousands of dollars in my hands
TO invest for them?" Mr. Vanderbilt
paused moment and then resumed: mo;
don't know abou5 the Northern Pacific.
] never owned q dollars interest in it in
my life. 1 don't suppose it viii be great
ly affected by wha5 has happened 10 Mr.
Willard Individuals DON'T amount to SO
much in these big enterprises"
'Doyou believe shat AR, Wizards friends
viii rally ABOUT hin aua assist him 10
make a new ssart?n Mr. Vanderbilt was
asked
"Bahw was the reply. 'Ysu don'6 find
much Of that kind of friend ship now a.
days. Men will say: He was "a mighty
nice fellow or Tn swfully sorry for him.
or ITS too BAD Al! this don't cost any
thing, but whan you ask them how much
are you sorry for him?' and call on people
to put their hands down into their pocket
that's a different thing. He might be helped
to start in a small way but what
cou!d ii be for a man Ike Willard who has
been accustomed to manipulate millions TO
handle a few thousand? lie would not do
it. The game would be too small. He
could have u interest n the world. There
are some men you can't keep down; they
are bound to spring up again anyhow.
But these men are very few. Willard too,
is rather old for thst kind of thing"
"What do you think of the prospects of
the Northern Pacifo?"
''It was built Frematurely. The country
through which il passes won't be III a CON
dition to maintain road like the Northern
Pacific for some years to come. Il will be
q good property say ten years from now. "
UNCLE RUFUS.
81 heartily indorse that letter." said Mr..
Rufus Hatch ghel4 tbs text of Mr.. Wizards
resignation was read to him. 81 indorse
and approve every word of it. Ihave just
had q talk with Mr.. Rolston, president of
the Farmers Lean and Trust company.
and from whaS he tells me and from
what / know of my own knowledgeI in
dorse that letter. think what Mr.. Willard
says is true, and 1 am confident he never
did dishonorable act in his life. Bat
when leople love money they're likely to
growl. I think it possible Mr.. Willard
may have deceived himself as to the i'm
mediate prospects of his road, but I am
confident that it can bear all the liabilities
to which it is subject. think
its future will yindicate not only Mr.. Vii
lard but even Jay Cooke. I speak from