, 1884-01-10
Willard PO.r out Honest.

nal u : y i OtAL A-DA4Go-r
New NORM, Jan. 3.-The World
say: There is q growing feeling of
sympathy for Willard. Many of those
who lost heavily by his management
still maintain their belief In his man
agemcu.. From several authoriuve
sources We are enabled TO state what
NilimHS condition Is financially and
physically, as viewed by those who
take the most generous view Of his
act. 1t Is said hy these that Willard
l. a poor man; that the fortune he
created in so short time has crum-
blcd Il dust; that he does not even
own the house in which he lives. and
that the SjuH.ubU ne settled on his
wife has disappeared also. Willard.
they say, * an honest man. and has
not created fortune ont of his
friends. and that his great losses.
coupled with the great fall he has
had IN public estimation, have com
pletely shattered him He - actual
ly dazed at his position, and Is fav
from his former self Willard. they
say. aS an explanation of his fall, Is Il
visionary man, and his enthusiasm
ran away with his Judgment This Is
the favorable view of Willard. and it
Is unnecessary TO say there Is a dark
CT construction Of his character and
financial career Willard himself
maintains that he has lost his all.
WILLARD ABSOLUTELY BEGGARED.
NEw YORK, Jan. 3.-Heraid: We
print an interview with friend of
Henry Willard, concerning the rela-
ton of that gentleman to the North
ern Pacific and its kindred corpora
tious. and concerning Wizards
health and private fortune, which
will be read with great interest, and,
We believe,with great sympathy. The
fact that the reporter was referred
by Willard to this gentleman fQr an
authoritative statement gives the 'Iss.
port an air of truthfulness. Foll0E
ing are passages from the interylty- :
Willard is ruined in his private
fortune. He has not as much money
to his name today as you have. All
has gone to help the great enterprise
he has been at the head of There can
be no question Of his conscientious
ness or integrity, for which he has
sacrificed his private means to sup
port the Northern Pacific. He has
nothing absolutely nothing.
His stocks, bonds, two residences. all
are involved in the wreck He has
saved nothing. nothing. He never
was so rich as reported He was not
worth ten million dollars. Five mill
ion was nearer the figure"
Did the conversation with Billings
take place as reported!"
Yes. Last Sunday Billings called
to see Willard. Billings, you know.
had quarreled with Willard, and there
was some iii feeling between them.
When Billings called and found him
sick in bed, and learned that Willard
had impoverished himself in his eff
forts to support the company, Bill
llngs expressed entire belief III Will
ards integrity, and there was a scene
eff reconciliation between the two.
When the rascals on Wall street
made their combined attack on the
stocks, Willard was straininG every
nerve to preserve the company's
credit, and began to sacrifice his own
money. To make matters worse he
was away from the city, and had to
do business By telegraph. A certain
banking firm was in difficulty and
would have failed ifhe had not come
to its rescue by raising money on
bonds and property belonging to him.
So he has gone on, giving his own
money away, until everything he
owns is pledged. But there is one
source of strain upon him which /
have not mentioned Money has
been entrusted in his hands to invest
for other people. All financial men
know what that experience is. His
friends would insist on having him
invest theisavings. When the stock
went down such was Wizards sense
of honor that | have known him many
a time to put his hand into his own
pocket and purchase stocks to save
them from depreciation. l suppose
he has lost a million dollars in this
way"
NORTHERN PACIFIC ANNUAL MEETING
WILLARD RESIGNS THE PRESIDENCY.
New YORK, Jan. 1.-The annual
meeting of the board of directors of
the Northern Pacific Railroad is being
held in the offices of the company
Present, Frederick Billings, 4. H.
Barney, John Wells, r. G. Ralston,
Robert Mcrris, L. +. Oakes, J. Pierre
pont Morgan, August Belmont, j. l.,
Stackpole, Benz. F. Cheney, John G.
Bullet and Henry E. Johnston. Pres
ident Henry Wizards resignation has
been presented.
The following letter from Willard
was read by the directors:
Il hereby offer my resignation as
president of your board. | feel con-
strained to take this step for two
reasons. One is that l am suffering
from nervous prostration, which rem
ders me no longer capable of properly
discharging my official duties, and
my physician advises absolute Austen
ton from all active employment as a
condition of the recovery of my
health. The other reason is that in
my own opinion, no less than in that
OF my personal and business friends
the interests of the company call for
the severance of my connection with
it. 1t is painful to me that such
should be the unjust result of the
years of severe labor and consuming
anxiety which l have spent in my
endeavor to serve the company to the
best of my ability; but my feelings
should not stand in the way of the
welfare OF the stockholders. am
consoled by an abiding confidence
that the future will completely yipdi-