The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-05


left the house to take the air mo, he would
not be absent long but it would be useless for
the reporter to wait, as Mr. Wizards health was
too precarious to permit him to see any one on
business, except of the most urgent Importance
and the attendant was quite sure that no one
could see him except Mr.. Oakes, the vice
president of the Northern Pacific company.
When Mr.. Willard returned it was apparent at
glance that he had indeed been very i'll. His
face was pale and his features pinched, and he
had the tagged manner of one who had suffered
physically and mentally. He begged to be ex
cused from an interview, and referred the re
porter to an intimate friend and adviser of his
tMr Villardsl, who ne said, might perhaps
speak for him. The gentleman who asked that
his name might be withheld, spoke freely of Mr.
Wizards position, and, as he said, with an init
mate knowledge of the subject.
Yes he said, the story you tell me of is
true-Mr Willard is a ruined man in his private
fortune He hasn't as much money to his name
to-day as you have. 1t has all gone to the help
of the great enterprises he has been at the head
of. There can be no question of his cOnscien-
tious integrity, for he has voluntarily sacrificed
his private means to support the Northern Pa
cifc. Mr.. Willard deserves the sympathy of the
public instead of the vilifcaton and abuse he
has received from some quarters. He is a very
sick man. This thing has preyed upon his mind
so that thought atone time that he would never
recover his mental faculties"
Has he nothing leftW
Absolutely nothing His stocks his bonds
his two residences, are all involved in the
wreck. He has saved nothing He never
so rich a man as he was reported: He was not
worth ten millions, as | have heard it said five
was nearer the figure but ten made bigger
mouthful.H
Did the conversation with Mr. Billings take
place as reportedF
Yes; last Sunday Mr.. Billings called to see
Mr.. Willard Mr. Billings, you know, had quar-
relied with Mr. Willard, had resigned from the
management of the Northern Pacific, and there
was some i'll feeling between the two When
laA a1.l nj
him sick in bed, and when he learned that Mr..
Willard had impoverished himself in his efforts
to support the company, Mr. Billings expressed
his entire belief III Mr.. Wizards integrity, and
there was a scene of reconciliation between the
two"
tuner
'Well. it is a long story. Briefly you must
know that the burden of the great enterprise
upon him has been almost beyond belief.
Upon him alone depended the carrying
out of this gigantic undertaking. 1t
was absolutely necessary that the road
should be finished before the present Congress
met. What its fate at the hands of Congress
would have been otherwise, the bills that have
already been introduced will show. Most rail
roads with charter from Congress are permitted
to issue bonds for every twenty-five miles or so
of completed road. These are sold to raise
money with which to build But the terms of
the Northern Pacific charter required it to com
plete a given number of miles before bond
company to borrow money-some times as much
as $l2, 900 600 or $l5, 600 000as at the time Gar
field was shot, when no action could be had from
Congress The first thing President Arthur was
called on to do was to authorize the issue of
bonds for over three hundred miles of com
pleted road All this financiering had to be done
by Mr. Willard himself.
when the rascals in Wall street made q com
bined attack on the stock recently, Mr. Willard
was straning every nerve to preserve the com
pany's credit, and began to sacrifice his own
money To make matters worse he was away
from the city aud had to do business by tele-
graph. certain banking firm was in difficulty
and would have failed if he had not to the
rescue by raising money on bonds and property
belonging to himself individually. So he has
gone on giving of his own money until every
thing he owns is pledged.
But there is one source of strain upon him
which have not mentioned. Money has been
thrust into his hands to invest for other people.
All financial men know what that experience is.
Friends would insist on having him invest their
savings. When the stock went down such was
Mr. Wizards sense of honor that l have known
him many and many time to put his hands
into his own pocket and purchase the stock to
save them from its depreciation. | have in mind
one case within my own knowledge. If | should
tell You the mans name you would be surprised.
In this case Mr.. Willard voluntarily suffered
loss of 100000. l suppose he has lost 81 100000
in this way"
What are Mr.. Wizards plans for the future}7
",They are not determined yet He is too much
broken in health"