Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1884-08-08

day by the action OF congress. Mr.
Blaine was liberal speculator in u
coholic liquors, which fuctuate6 %
widely in value in 1864. Some of his
operations were done through his
brother-in-law, Stanwood, in Boston.
James Mulligan was at this time the
private book-keeper of Mr.. Stanwood
and it is understood that Mr.. Multi
gan's memoranda concerning Blaine's
whisky speculations are quite as
valuable and interesting as those
which he gave to the world
concerning the Little Rock and Fort
Smith railway transaction in 1876. In
the year 1864 Mr.. Blaines profits had
become so large that he was obliged
to seek good permanent investments
for his money, and it was at that
stage of his career that he purchased
the large coal properties near Pitts
burg, Pa, which have never been
worked, but which are certain to be-
come enormously valuable in the
future,
Comparatively little is known here
in regard to Mr.. Blaine's larger opera
tions since the close of the war. That
he has always been heavy sEecula-
Tor is fact which neither he himself
nor his friends attempt to keep secret.
He bought $4,000 In Maine state
bo.ds in 1871, but his Investments
have been, for the most part, outside
of the state. He has usually been for
tunate in his speculatlons, but not
uniformly so. His friends say that he
has lost hundreds of thousands as well
as made hundreds of thousands. The
speculation in the securities of the
Little Rock and Fort Smith railway,
in which Mr.. Blaine persuaded a
large number of his Name friends to
join him, would have been a very
serious matter for him out for the
fact that Scott and other railroad mel
having measures pending IN congress
when Blaine was speaker of the
house, helped him out of the disaster.
There are very keen memories of this
Little Rock aud Fort Smith affair in
these parts Mr. Blame himself never
refers to it The matter was never
understood by the parties interested
hare until after the publication Jin
1876 of Mr. Blaine's own memoran,
da Of his transactions. The facts
were that Mr.. Blaine induced the Co
burns, of Skowegan; the Morrills,
SaMbOrn, of Augusta; the Hazeltlnes
and Johnsons, of Belfast; Alanson B.
Farwel, and some others, to pur
chase through him of Warren
Fisher, jr., of Boston, securi
Ties Of the Little Rock and
Fort Smith railroad, FOR which they
paid in gross the sum of $l30, 000
Mr.. Blame went to each of these
gentlemen and told him it was very
good thing; that he had himself in
vested large amount of money, and
that he recommended it to them be
cause he wanted to put them into "a
good thing" The business was to be
done entirely through him. Each
one was to receive for every 81, 90 i'll
cash paid 81 900 in first mortgage
''onds, 81, 900 in preferred stock, and
81, 600 IN common stock. Mr.. Blaine
assured them that they were ION the
ground floor" with himself. Subse-
quently Warren Fisher, ir., failed, and
the enterprise broke down. Mr.. Blaine
astonished all his friends by prompt
ly handing over the $4,000, and
taking all the securities back. They
were exceedingly glad to get their
money again, and asked no questions,
but 1t surprised them, when Mr..
Blalne's account-book was pro-
duced and published in 1876, to
find that Mr.. Blaine had never
invested a cent in the enterprise, but
had received from Warren Fisher,
Jr., $130, 600 IN land grant bonds and
an agreement to deliver $32, 500 first
mortgage bonds in addition. as COM
mission on the sale of the other secu-
rites to his Maine friends. while had
they gone direct to Mr.. Fisher, they
would have obtained not only what
Mr. Blade gave them, but the land
grant bonds in addition. This publ
cation created vast amount of aston
ishment here. and some of the gentle
men interested have not recovered
from it yet They say that Mr.. Blaine's
intimate friends promised that he
would explain the matter, bat that he
has never done so. Some of them get
together once IN awhile and talk the
matter over. and it is not difficult for
them to understand why it was that
VI
down on his knees to Mr.. Multi
gan to implore him not to make this
secret agreement with Fisher public.
1t may not be remembered that in
1876 Mr. Blaine had made statement
n the house of representatives IN
whi-h he said: I'm common with
hu dreds Of other people in New Eng
land and other parts of the country,
| bought some of these bonds-not a
very large amount-paying for them
At precisely the sarae rate others paid. "
Tile evidence satisfied his Maine friends
that he had actually not paid any
monay or agreed to pay any. In con-
e.sation one of the parties induced
,n purchase these securities by Mr..
> ;.lne said to the writer: HE has
y. yer opened his mouth about the
~ .tter since He lied to me, and he
u Int not to De president.