Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1884-05-15
KEENE'S METHODS.
How the Daring Speculatdr Made lad
Lost Millions.

New ORR sun.
/ Mr., James r. Keene, about six
years ago, came to New York from
San Francisco with a fortune general
/ ~ estimated at from $4,500. zoe or
I So, eco, 600 On Wednesday he am
nouced MS stability to meet his en-
gagcments.
Mr.. Keene has been for years a
very prominent figure in the street,
and he has been often pointed out TO
visitors there as the slight built gen
tleman of dark complexion, who Step
ped along the walk briskly and
daintily, and always dressed IN the
height of fashion, He generally
wore a shineing beaver over his dark
brown hair, and carried q natty walk
ing-caue He was accustomed to
smoke expensive cigars aud stroke his
black beard lovingly. When deepest
in thought his face was singularly
cxpressiveless, and he appeared to be
gazing iuditrerently into space when
figuring out his biggest money max
ing schemes. One of his friends said
OF him that if one were anxious not
to find out what jim Keene was go
ing to do, the best way 10 keep in
ignorauce was to study his facial eX
presSionS
Mr.. Keene was the son of English
parents, but is Nrginian by birth.
He was born at Lynchburg nearly
fifty years ago. He got his education
in the south, and was originally
trained for the bar. After his rcmov-
al to San Francisco, while still a
young man, he was engaged as coun-
sci IN some mining suits, and from
his Investigation of them he gained
a familiarity of mining operations
that prompted him to speculate in
mining stock He gradually aban-
doned law TO take up the stock broll
erage business He was a curb stone
broker for some years. He finally
pinned his faith TO the great bonanza
stocks, bought them largely, and
shared The marvellous prosperity that
the great mining boom showered up
on Flood. O'Bren an. Ralston, of the
bank of California
He held on to his bonanza stocks
till the fall of 1874, when he sold out
during October and November at an
enormous profit. Later on he invest
ed largely, though less heavily than
in his bonanza speculatons, in Vel
low Jacket, and made much money
in that stock.
When Ralston committed suicide
and things were going to smash gen
orally, Keene, with 5000, 600 or 81,
600, 600 in his pocket, came to the
metropolis with the prestige Of his
dazzling California success undimmed.
He formed the acquaintance of JAY
Gould, and engaged with that opera
tor in fighting Western Union with
Atlantic and Pacific stock. He beg
ged big profit, as result of his flank
movement on Mr.. Gould's now favor
tie stock 1t is said that Keene got
his eyes open just previous to this
lucky Int by his unexpectedly disas-
trous attempt to bear certain stock
which he fancied was a good deal
highe. than it ought to be- In order
to prove it, he ordered 10, 600 shares
to be sold Instead of driving down
its value the stock fell half a point,
and then rallied and left Mr. Keene
to blow on his burnt tigers and resolve
that it would be well to find out the
difference between San Francisco and
Wall street before lie started out
again.
After this he seems to have made
money with the same facility and sue
cess that had marked his California
operations, until after he broke with
Jay Gould in 1877 Gould is reported
to have said as an excuse for the dis
solution Of their friendship that Keene
had played him shabby trick, and
he was done with him. Keene on his
side asserted, according TO friends,
that Gould had gone back on his
friends and sold them out
AS one the results Of this little mis-
understanding Major Selover, who
had been Keene's broker and admirer,
picked Mr. Gould up from "the
street" by the collar one afternoon i'm
August, 1877, and deposited him with
great energy into an exchange place
area, great Y TO the personal surprise
OF good .natured barber who was
shaving q customer Keene said he
was reioiced that retribution had over
taken Mr.. Gould on the ground that
Mr. Gould was the wickedest man in
the world.
The two men never spoke after that,
but Mr.. Kecne, as a result of his con
flicts with Mr.. Gould as rival,
dropped pile that was reported to
contain Sc, 900, 600 lie lost it in try
ing TO get up a corner in wheat, and
to fool with Jersey Central stock. He
held ON TO Jersey Central grimly.
until it ran down forty points in a
single week at "A breakneck pace.
just before this little experience he
was known TO be worth 81, 600. 600 IN
cash, and Isador Wormser, his broker,
said that one day he saw in Keere's
office as much as 81, 400, 900 in cold
cash
He got all he had lost back again,
and more too, with a rush Of his old
luck, and in 1880, during the big
boom in stocks, he was reputed to be
the possessor Of 500, 000, 900.
1t was at this period, the acme Of
his success and fame, that the white
Al A ~