New-York tribune., 1884-01-04
DIR. rILLlRUs FORTUNE ALL LOST
A TALK WITH HORACE wnITE-wIIo WILL BIZ PEESI
DENT OF THE NORTHERN PACIFIC?

DINT or THE NORTHERN PACIFIC !
A meeting Of the directors of the Northern
Pacific Railroad Company will be held to-day. 1t Is
expected that every member OF the Board except Henry
/ Willard, viii be present. His resignation president
| will be one OF the matters to be considered
| at the meeting and, while it is admitted
that the resignation win be accepted without debate, on
account Of Mr. Wizards Illness the choice Of his
sOr is involved great dOubt Several names have been
mentioned candidates for the Office, but one has
vcnuIcd predict the result OF the meeting meeting
OF the Finance Committee viii precoIc that OF the full
| Board
II has been intrnatcd by Of Mr. Wizards friends
that ne has lost his entire fortune in attempting to carry
out his railroad enterprises 10 successful end and that
his misortuncs have partially at least, unsettled his
reason II has been stated that both he and his wife, on
whom he had previously settled considerable fortune
have surrendered everything In their control for the
purpose Of meeting his obligations. The house which
they moved into less than three weeks ago. when it
yet completed, is sad to be Included in the surrender
and the country house at Dobbs Ferry not included
merely because the mortgages on it left little Of
real value to be transferred. These state
mcnts, which have been circulated cOnhdentiay
for several days confirmed Ill published interview
IN The Hcr1d yesterday with Of Mr.. Yilard's
friends whose name was not given.
Horace White, treasurer Of the Oregon Railway
and Navigation Company and the oregon I'm
prOvemcnt Company, and controller OF the
Oregon and TranscOntnental Company, said
last evening" "The published interview IS substantially
correct, and do not what can add to it,
the person quoted by The Hcrald but the statements
made are to my knowledge, You perfect
liberty to quote authority for the correctness or
the statements Mr. Willard three years ago. worth
S 100000 He has lost everything In the days Of his
prosperity years ago. he transferred property to
his wife; she still has it, but do not know what it
amounts to- But Of Mr. Wizards estate there Is pracu-
eay nothing left He has sacrificed in efforts to pro-
tect MS friends They more anxious about Mr. VII
lars reputation than about any losses they may have
suffered. No, Mr. Willard has made assignments he Is
not bankrupt in the general Of the term.
But he has lost all OF ais estate;
may have debts and yet have lost
his fortune. suppose the house in Madison-ave. will
have to 20 with the rest Mr. Willard has not sold IT,
but be will probably do IA the Spring and go 10 the
place at DObbs Ferry which Is held in his wifes name
There was never any % one M TI n T rnb
was that he two years ahead Ot the time. He cal
bound 70 10 II In time but which dd not come as
he expected Jay Cooke was twelve years ahead
way with Mr. Willard except that he was only two years
in advance .
presidency Of the Northern Pacific Mr. Whie SAID;
There Is that have heard mentioned except |
Mr. Frederick Billings. There Is no other choice II he
can persuaded 10 accent the position. MI. Nhite
added: "Thcre has been some criticism In wall street
regarding the omission Of the bonded debt Of the Oregon
aud Iran-oontlncnja company rom lhe recent lfOlS
But the bonds a collateral loan secured by the bonds
on the Northern Pacic5 branch lines and the one Offsets
the other There has been no Issue al bonus o., 'Te %
branch lines In OF the mileage completed The
interest the bonds Is already secured by deposit 9r
the first two years and aleI ihat the Northern faHc
guarantees the interest Before the bonds would become
a charge against tho Oregon and lnnsconnental the
branch roads would first have to ia 10 earn thc lhe'
and the Northern Pacific fail its guarantee. These
TOad- built through settled regions and must pay
There was a meeting Of the EHccutve committee oi
the Oregon Railway aud Navigation Company yertrr-
Day at which Il Is undgr'tood R%Pos1n 70 d f'Ggo aag
clusiJn Oi the committee WAS not made KNOWN