The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-12-01
MILLIONAIRE MACKAY.
HIS REAPPEARANcE IN NEW YORK
Something About His Struggle With the
Western Union and the Successful
Result of His Cable Schemes
"A Postal Telegraph.


Nackay, the bonanza king, yesterday
afternoon, has naturally created not
little excitement in financial circles.
Although Mr., Mackay has never been
what may be called in the general ac-
oeptance OF the word speculator, hs has
always been ready to invest his money
in legitimate enterprises, and while one
Of the wealthiest men in the country, he
has never been found active aud inter-
ested in any general financial scheme
wherein the public would not, sooner or
later, be beneficiary. He is esti-
mated to be worth somewhere in
the neighborhood of $4,000 900, and il is
safe to say he is bestowing tho enormous
wealth which has been placed at his
command in manner strongly in con-
trast with some others of the rich men
Of the country.
IL is natural, therefore, that the com
ings, the goings and the doings of such
man should be of more thaa ordinary
interest, not alone to the commercial
world, but to the paople generally.
There is a magnetism about the FORUM
ate man which can not be gainsaid, and
the recital of his aims, his projects and
his ambitions is at once an incentive
and heaven star to others.
OHAI BY TIL TICKER.
This morning Dial hand was fortu-
nate enough to be able to spread his
notebook before a we'll known banker
81 this city and learn the following facts
in relation to the past, present and f..
ture projects OF the bonanza king. Tilt
ing his office char back and twirling
the tape, which at that hour was hang
ing idly from the ticker, between his
fingers, he said in brisk, businosS-like
voice:
"Want to hear something about John
w. Mackay, ch?"
The Dial hand licked acquescence,
and the speaker continued:
IL need not tell you of his almost re-
Markable advent into fortune on the
Pacific slope. No, no! of course not.
That Is an old story. Let us come to the
later event and his more recent enter
prise. That will suit YOU hetter?"
Another tick from the Dial hand.
Dwell, some time in August, 1883, Mr.
Nackay returned from Europe, whittier
he had gone on visit, partly of bust
ness, partly of pleasure. While there
hi had enjoyed the pleasures OF the his
torical cities of the old world, and man
foreign artists were the recipients o
printely commissions from him. la
bhe meantime, he had not neglected
business, aud Americans he met abroad
told him of "A new telegraph company
that was being formed in this country"
"And that company was"
DIsCoRD AND DI>shNSIoN.
"The postal telegraph. II the matter
did not provoke me so much, | would
Ike TO FREQ my mind little on the sub
.ject of Western Union. Look at the
trouble, discord and dissensi0n it mas
caused during the late election returns
in the manner it delayed the associated
press reports In those days of anxiety
1t did almost as much to paralyze bust.
nos and unsettle the whole muchi cry
si commerce as the panic of 1873. No
matter what my politics are. Every
decent man in the community depre-
Gated the tardy service of those truub
louS days. Jay Gould's tardy dispatch
10 Cleveland " $ q pitiiul whine OK
torted by the cries OF an inturiated peu-
Pile. IL was on Il par with the whole
scheme of monopoly which has con-
Golled his ma. agement of the Western
Union and every other corporation, with
which he has been associated. Pah!'
And here the merchant gave the tape
I'LL p back into the basket, tearing II
into pieces as he did so, much as the
crowd would have liked TO have torn
jay Gould on that memorable hight
after the election.
"But let us return TO MacSay," con
6nued the merchant, recovering his
eOnpusure. "Wheu he arrived here he
began inquiring into what this postai
telegraph was. He is a man of keen it,
sight and quick IN his decisions. 1t diu
nottak hlu long to learn that the men
connected with the concern wer,.
rhrewd, enterprising, honest and euer-
Setic. In few DAYS he had invested
heavily in the stock, aud mas promoted
the company interests with advice aud
capital ever since, He also wished, by
snterihg into this enterprise, to strike u
blow AZ telegraph monopoly and,
q through the postal work, for a general
reduction IN rates. After maAiug this
nvestment he started for his homo ia
Ban Francisco"
now IT WAS ARRANGED.
"And just here lot mo give you Il little
instance OF the mans wonderful decis
ION Of character. While in Europe h.
had, together with Messrs. Garrett auu
James Gordon Bennett, considered the
expeuiency of laying two new Atlantic
cables, aud the project to lay such cables
was concluded, each conseutiug To bear
one-thlrd OF the oXpens-. HO consid-
cred Tue matter rs something accom-
plished, but when he had reached Pits
burg, Pennsylvania, on his westw ard
"Trip, he received dispatch stating tina
Mr.. Garrett was inclined to withdra y
nom tho arrangement. Mackav took
.ust hve minutes Oconsider the matter.
and then telegraphed back word that
ne would bear two-lhirds insteAi
Of one, of the expenses. As the
words come rushing over the wires
with the speed of lightning they sealed
the success ot the new cables, and work
was immediately begun upon them IL
meant an Investment for him OF $4,000,
600, aud presented the spectacle of tw,,
men carrying through an enterprise
which threatens To strike one of the
severost blows ut monop 'ly and greed"
Nou mean To say that Mr. Mackay
has, individually, invested $GOOO,OOO l.,
The new cablesf" licked the hand.
al mean to say that in fourteen
months he has not only paid out ST, 900,
~ for the new cables, but has also paid
out large amounts Ia promote the inter.
csts OF the Postal, of which he is the
president, and IN promoting Its inter.
eSts he also promotes the inter.
ests OF the public at large. because
the prime aim of the Postal is oheape,
tolevraphy. The Postal, tho Bankers
4 Merchants aud the Southern tele.
giaih companies are now working i'm a
poh, the business given to one helpinv
tho others. The laud service is excel
lent, and, with the cooperation OF III,
new cables IL will be the most perfect
service IN the world. tell you, a mni
who will thus literally invest in sucl
enterprises /, literally a public bouefac
tor, aud he will be- one OF the most hon
ored personages ut the opening of tn,
now cables, which will, shortly TAX,
place"
49,, .Ew or Err ENTERPRISES.
"Has Mr.. Ma kay manylother enter
EpiSes on tOutY'
"other enterprisesY Come, now, young
man, you must be joking; why, of cours,
No has. On his way hither from san
francisco he stopped TO look at a new
silver mine he has acquired. w Gro Their,
te be- ween S6,JOO,0W and $7,OO0,O0O nj
ready In sight. lie has also investo,
22,tOO,0O0 IN n Texas railroad. whiri