The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1884-01-18
OFFICIAL PAPER FOR BENTON COUNTY
WILLARD AND HIS SCHEMES.

fortune. Some five or six OF these Journals
have recently spoken exhaustively upon the
subject and in way that seems not alto
pether without fault in Willard. In short
they claim that Willard when he had large
lot of ''Transcontinentaf' and Northern
Pacific" stocks on hand sold most of them
off at about 90 on margins ard tkeu run the
stock down to from 20 to 40, thus requiring
those who were holding stocks to pay in
large sums of money to make their margins
good. This, however, is TO new theory to
the GAZETTE, because if its readers will re
member when the downward tendency in
Willard stocks began to make holders trem-
BILE some months ago, this paper then ex-
plained the situation of those stocks, aud
that Willard was purposely putting them
down as means of speculation. The New
York papers, however, further state that
Willard has recently invested several hun
dred thousand dollars in United States
bonds in his wife's name, and has completed
a magnificent and tremendously large struc-
ture on Madison Avenue. and he has kept
himself secluded therein from the gaze and
fury of the crowds on Wall Street who have
been specializing in his stocks and as a
result therefrom find themselves "dead
broke" The furniture in the house which
Willard has recently been building is sail to
have cost hundreds OF thouss.nds o. dollars.
The New Yo:k Heralds correspondent says:
Gossip has it that a leading broker in
this city gave customer $1,000 to-day %
tide him over the lst of Janusry. A year
ago that customer bought 10000 shares of
Northern Pacific at 81. He could afford it,
his house is one of the hal. .dsomest in the
city, His furniture is superb, his pain.iogs
are the talk Of his set; he was intimate in
Wizards Office where .'la.nts" We e freely
given him, and although row and again
forebodings puzzled him somewhat, he had
faith in Wizards ability and sagacity, re :
lied in his promises and declined to ACCEPT
the advice of his broker. To-day, in tech
meal parlance, he is stc:pped. He lives in
his magnificent residence, yet, but it is
mortgaged. I met hin yesterday on the
road in fancy Russian sleigh drawn by two
high steppers, but the horses and the sleigh.
the coachman and shs footman, must go,
and instead of European trip promised to
his wife and children in June next, he will
be lucky if he is not forced for his daily
bread and butter to enter Wall streets lists,
and contest in the arena of finance with the
bulls and bears of trade.
Where is this to end?
First OF all, there being 10 demand for
manufactured articles, we will find that
manufactures will shut down, and the first
to do so is that influential body known as
the Western Nail Association. On the 26th
of this month, week from to-day, 5000
men will be literally turned out of d. OF,
and for six weeks thereafter will have DO
thing to do, no work and no pay. 1t is
estimated that with their families, the
aggregate number thus plunged in distress
is about $4,000. The bread winners of
this large number of people have had work
eight months only during the closing H.
Is this desirable state of thugs? Is this
to make the poor better OF: Does this in
any way tend to postpone the coming
struggle between the very rich and the
very poor? The 29th OF December is very
near the Is, of January. Thus $4,000
people face 1884 with no work, no money
Their stomachs will crave food, and, if
storekeepe-s will trust them, they will get
it, otherwise they must 60 hungry. How
long will ls,Oc0 people consent to be
hungry: On the first of January 5000 men,
who are employed by the tube works in
begin work with a general re-
duction of wages. In other words, assum-
ing that these 5000 men with their fami-
lies constitute township Of $4,000 people,
gloom, dissatisfaction and discomfort are to
be the atmosphe; E in which that particular
cltyfull begins new existense. Iron and
steelworks, mills where rails are made,
sheet iron mills and all cognate places of
employment, will be compelled either to
lower wages or suspend, and that this
great, rich and prosperous country, whose
revenue is SO monumental as to be per.
feet bugaboo in the sight of politicians and
statesmen, will find upon its hands in less
than six months 800, 600 unemployed men,
upon whom depends, on an average, three
persons each, with no work, no money, but
a continuous physical demand for clothes
and food and for shelter. That is precisely
the sermon to be drawn from the text MFR.
Willard has planted in letters of brass upon
the front of Wall street. As I wrote
months and months ago, in no sense will
he participate IN the trouble and embarress-
ment he has precipitated. He and the
gangs who work in like methods have
coined millions of dollars. In their wives
names stands evidences Of millions of dol.
lars of property, and they can afford to sit
and laugh and sneer-until the day of
judgement comes. Many of these great
factories and workshops in the East and
hereabouts, and in Pennsylvania are in
the hands OF corporations; the stock of
tna cornoraijonx ia owned generally by