The Republican journal. [volume] (Belfast, Me.) 1829-current, 1884-01-17
The Rise and Fall OF Railroad King

The Rise and Fall Of a Railroad King.
A few months ago Henry Willard was the
President and controlling spirit of the Northern
Pacific Railway, the Oregon Navigation Com
pany and other corporations, and ranked
among the half dozen, more or less, American
railway kings. The driving of the golden spike
which marked the completion of the new trans
continental railway was witnessed by many
prominent officials of this country and by car
load or two of titled gentry who came from the
other side of the Atlantic and were carried
across the continent at Mr.. Wizards expense to
witness the ceremony. Willard was then at the
zenith of his fame and power. His career. from
an impecunious newspaper writer and cores
pondent, to the control of great corporations,
and the accumulation of a fortune estimated at
ten or more millions, was traced with interest.
1t was another illustration of what may be ac-
complished in this country with no other capt
tai TO start with than energy and brains.
Then came fall in the Willard stocks, as
they are called. Willard had moved into
mansion in New York, not yet fully completed,
which was said to have cost, for the building
alone, one million dollars. The stocks went
down, down, down. President Willard was re-
ported i'll. and remained secluded in his resi-
dence. 1t was said he had anticipated the de-
cline, and had increased his fortune through
the msfortunes of those who invested in his
enterprises The imaginative reporters picur-
ed his house as a strong castle. with narrow
windows giving the idea of Ioopholes and here
this bad man was supposed to be lin hiding with
his ll-sotten gains.
Later developments have shown this to be a
false picture. and Mr. Willard is revealed as an
honorable man, bankrupt only in fortune and
in health. He has resigned the Presidency of
the Northern Pacific and Navigation companies,
and turned over every dollars worth of his
property to meet the claims of the latter com
pany against him. Everything he had he put
into his support of his railroad enterprises and
he sacrificed 81 100000 of his own money to
save friends who had insisted he should invest
for them. And, finally, he never was worth
$4,000 900, says friend authorized TO speak
for him, S5,0O0,000 being nearer the figures.
The tide of public opinion which Il few days
ago set so strongly against Willard is now turn
ing in his favor. The directors of the Northern
Pacific, at recent meeting, endorsed his policy,
and it is believed the road viii eventually meet
the expectations he had formed of it. But lust
now he is a dethroned king, with both power
and fortune vanished.
There are quite Il large number of candidates
in the field for the position on the Supreme
Bench of the State to be made vacant by the re-
trement of Judge Barrows, and their claims are
strongly urged by the newspapers of their re
spectve sections. We have no word to say
against any one of the candidates named but
our support is due to the candidate presented
by the Waldo county bar-Col. W. II. Fogler
of Belfast-whose qualifications for the place
cannot be questioned. We trust that the
claims of this gentleman will be properly pre-
sented by his friends and the people of this
section, and that they may be daily considered
by the appointing power. as We have no doubt
they will be.