Daily Yellowstone journal. [volume] (Miles City, Mont.) 1882-1893, 1885-08-06
JIM KEENE'S COUP.
THE 81 5RY CT HIS BATTLE WITH
tn: BONANZA MEN.
An Expert on the i,soo-Foot Level
Drawing a Map from Note Book
Data-Creating q Panic In
Mining Stocks
New York Times !

New York Timesl
The story of the bogus map, which
created great deal of excitement among
stock spectators in California some fifteen
years ago, has never. | think. been told
in detail. A man who asserted himself to
be one of the principal actors In the trans.
action gave me the particulars one windy
night last winter as we sat in little min.
ing cabin on one of tho black slopes OF
the Sierra Neyadas watching with hungry
eyes our supper Of bacon and fapiacks
cooking on the stove. My friend. whom
/ will call Hill. was Hat on his back at the
time, dead broke. but he talked as airly
and farmiliarly OF untold millions as
though the miserable shanty was place
ON Mob hill and the flap ack he was toss.
hurled upon the market TO make or break
the fortunes Of the day.
At the lime | refer to, ".Iim" keene
was just coming prominently into view
among the little cOterie of dashing &C.
ulators which. in those days. ruled Cali.
fornia street with rod of iron. lie was
a large holder in the Consolidated Nir.
ginia and , ifornia mines on the Com
stock; 50 heavy holder in fact. that he
was allowed the privilege of hayin an
exl ert in the mine to look after his in.
terests The bonanza crowd, Flood.
OBrien. ct al. also held large blocks OF
stock. which they were trying to unload
upon keene. and in pursuance Of this
design were circulating rose colored re
ports of extraordinary indications and
rich strikes. especially on the l,500foot
level eene's expert accordingly turned
ell his attention TO that part Of the mine
Now. once in the labyrinth of drifts and
leads, which constitute the big Comstock
mines II is, of course, impossible TO oh.
tain any idea Of their topography without
the aid Of instruments. and these he was
not allowed 10 have The expert. not to
be outdone had small compass inserted
In his watch locket and asO provided
himself with pedometer. BY the aid Of
these he could easily obtain data which
would enable him TO construct 4 iolera.
bly, correct map Of the level and SO get at
the true condition of affairs.
But on the second day be was detected
and Mr.. Gene was informed that his
man could not enter the mine again. The
expert went down 10 the "bay and had a
long talk with eene lie told him that,
as far as he could Judge. the mine was
worthless, but. of course, could not sup.
port his assertions with proofs The
bonanz people, seeing that it was neces.
sary 10 disarm any suspicious keene
might have. invited him 10 make per.
sonal inspection Of the mine The drifts
aud leads 10 the big silver mines are gen.
orally boarded up at all sides by loosely
fitting plsnking. Through the cbinks II
Is easy 10 see whether the drift Is running
through pay dirt or through country OF
barren rock. The bonanza crowd sailed
three or fodr Of the drifts by putting ore
behind the boards and keene was then
shown through. There were millions in
sight everywhere and they kept leading
him backwards and forwards through the
salted leads until he should suppose he
had seen the entire level.
Eeene went back TO San Francisco not
knowing what 10 think. Naturally. he
suspected the BONANZA people. and there
was the evidence of his expert On the
other hand. he knew what he had seen
with his own eyes In this emergency
the expert telegrsphed in cipher to Hill.
who was then in irginia City, saying
that the bouanza people were about TO
LAY down" on keene, and asking him IL
be could do anything to prevent It. Hill
went at once TO the foreman OF the mine
and tried TO bride him to tell him the real
condition of the mine Failing IN this, he
remembered that he knew o shift boss on
hat particular level He knew him to be
an intelligent young fellow. and that he
had taken very full notes about the real
condition Of the mine at that point. He
addressed himself to him and finally sue.
,eeded in obtaining his note. book. With
that as guide, Hill drew a map Of the
l,50Ofoot level, showing all the drifts.
ore deposits, etc.-in fact, describing with
minute PARTICULARLY the mine as II really
was The two men went 10 San + ran.
cisco and had an interview with Keene
After carefully examining the map. Keene
expressed himself as satisfied that the
mine was worthless In return for the
service they had done him, heene gave
Hill and his PARTNER S100,OOO margin at
his brokers. -.....
The stock was TO be cut up into smaller
shares In few days, and hill determined
10 buy first. believing that the stock
would advance a point or two on the
division. Then his plan was TO sell every.
thing short on the merits of the mine
They told Gene what they proposed TO
10. lie bluntly advised them TO sell
short at once and when they ersisted
told them that he intended in that case to
sell 100, 900 himself TO cover his own in.
terests They disregarded his advice aud
bought The next day, to their horror,
the map neatly Autographed, was hung
out on California street Amidst the
most intense excitement the stock com.
menced to fall. The newspapers came
out with broAdsides on the criminalitJ of
libels for speculative purposes. aud the
bonanza people offered heavy sum for
the apprehension Of the author Of the
bogus mp. Ms II was called.
But Il was Of no use. The facts were
there, and the stock fell. In few hours
i went down 10, 20, then 80 points
/ ortunes were made and other fortunes
were swept away In twinkling. while
millions OF dol airs changed hands Hill
and his partner lost, Of course, with the
rest oil the unfortunates who were on the
wrong side Of the market keene, who
had disposed fast OF his own stock, sold
everything short. clearing by the coup
several millions. while the BONANZA crowd
lost between them ten score OF moder.
ate fortunes. -Of course. said Hill, as
be applied himself TO the fruits Of his cul.
mary Efforts I'VE didn't really lose any.
thing. for the 100000 VIC had belonged
TO heene. and we only had the use OF Il as
q margin. Sometimes, though, wish |
b6dn thought knew more about stocks
than Jim keene. aud had taken his ad.
vice. IL had we would have cleared
something handsome But. you see.
never dreamed he would have the nerve
TO hang that map out on the street and
bring everything down with rush