National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-02
JIM KEENE's CAREER.

How He Made an Immense Fortune and
Lost lille May Pny Dollar for Dol.
lar.
New YORK, May 1.--Mr. Keene was at his
Office this morning, but refused to see any
person but two OF three friends It was the
sentiment of the street that Mr.. Keone would
pay 100 cents on tho dollar very shortly. It
was said that he had several offers ofassistance
to-day, but refused them until he finds his
exact position. IL was also said that he had
mot two or three small demands this morn
ing; one was for 900 and tho other for 5000. ,
Tho excitement caused by the announcement
OF the failure yesterday has entirely sub
sided, although 1t is the principal topic of
conversation on tho street.
James r. Koene. the California millionaire,
who came east in 1876 to try his fortunes in
Wall street. has at last succumbed to tho hard
luck which has been running against him for
some years. At the time Of his arrival in
New York his fortune was estimated at S.
100000, all Of which he had made by specu-
lating in mining stocks in California. He
made the trip from San Francisco in q private
palace car, and Jay Gould ia credited with
q prophecy to the effect that he would go back
in freight car. From tho fact that Mr..
Keene was unable to take up the privileges"
presented to him on Wednesday afternoon in
comparatively small blocks, IL would seem
that his cash account has run very low. There
are still enthusiastic admirers, however, who
assert that he will pay dollar for dollar.
Mr.. Keone's early history is involved in OBJ
sourity. One account says that he was born
in England and was brought TO this country
by his parents when yet an infant another
account says that he was born at Lynchburg,
Va, after his parents who were English en-
igrants, had settled there When quite q
young man he went to California and IL Is
said, began business in San Froncisco as ped
dler of milk. By industry and frugality no
saved some money and in 1862 being then %
years of age, established himself as broker.
He soon attracted the attention of brokers
and stock spectators, and by and py became
one Of the great men of the mining stock ex-
change himself His operations in the Com
stock lode and in the California and Virginia
Consolidated brought him a fortune of some
thing like 100000. When president Rail
ston of the bank of California committed
suicide Keene in connection with d. o.
Millssand other capitalists, reorganized tho
bank and restored public confidence
After coming to New York Mr.. Keene
struck hands with Jay Could and the twain
went into Atlantic aud Pacific telegraph
speculation. In the fall of 1877 he parted
company with Mr.. Gould, and since then they
have generally been regarded as antagonists.
Up to 1873 no succeeded SO we'll in his opera
tions that he had actual property OF the value
of $9O00,O0O, and $2.i00,000 deposited with
ono OF MS DroKerB. lie went into the great
Chicago wheat corner of 1879, aud fortune
took turn against him, his losses being
estimated ut $l,750,000. Soon afterward he
lost some So, 600 600 by the sudden collapse of
the stocks Of the New Jersey Central rail- ,
road. Since then he has been in all tho great
speculative operations in grain and stocks, in
which millions have been made aud lost. OF
late ho has locked up great deal of his capt.
tai in unproduotive enterprises, and the
shrinkage in Northern Pacific last fall dealt
him heavy blow. Luck has been running
against him continuously for some months,
and he at last reached point where he was
obliged to halt and ask the indulgence of his
creditors
Mr.. Keene was formerly great patron Of
the turf and has owned some of tho best
horses that ever ran In this country or in Eu-
rope. Foxhall and Spendthrift were perhaps
the most celebrated Of his racers. For the
past year or two he has gradually been with
drawing from sporting circles. In person
Mr.. Keone is tall and slender, with heavy
black eyebrows. piercin gray eyes, and high
cheek bones, such as usually characte rice per-
sons of q consumptive nature. His health has
not been good for many years, rendering him
at times quito irritable, giving rise to the be-
lief that he was ill-natured which his friends
say is not the case His face Is utterly with
out expression, and he has always had the
rare faculty of meeting any turn in fortune
with complete imperturbability and philos-
ophy which has amazed those nearest to him.