Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1885-06-12
A mad Crs.h.

A had Crash,
The failure Of ex. Gov. Samuel W. Hale Of
New Hampshire became generally known
last Saturday and seems to have been sur
prise to everybody except the conservative
few who suspected the fact that there was no
solid basis for his various financial schemes.
The attachments placed on his property in
Keene and Boston amount to $217, 900, but
probably this sum represents only part Of
the aggregate loss. Hale's career las been
that of the typical ''smart Yankee, who be-
gins by trading jack knives as a boy at school,
Is not troubled by an over-scrupulous con.
science, and makes such success in life
az too often exoites the envy of his slow &C.
ing fellows. He was born a poor boy in
Massachusetts, went from there to Dublin,
N. H., where his "business capacity" began
10 develop in the way OF various sharp oper-
atoms on a small scale, and he finally brought
up as leading manufacturer in Keene, begin
ming as a member of the firm of Osborn Il
Hale. He was a devoted ohurch-member
and was one OF the leaders in the split in Dr.
Barstow's old church which resulted in the
erection Of the Second Congregational church
adulterated milk Of the word should be dis
pensed. Hale is reputed to have originally
contributed $12, 900 toward the erection of
that church, and to have paid largely for its
support since. Some years ago he developed
political aspirations but met with bitter home
opposition which defeated him. Three years
ago. however, he made final and successful
push for the governorship. The fight came
on his nomination in the Republican conven-
ton, and the preliminary canvass is said to
have cost him the snug sum of $50, 600.
Within the past dozen years his financial
schemes have opened up in way to quite
dazzle the common place mind. Besides his
large manufacturing interests in Keene he
was the principal owner in awoolen mill at Leb-
anon, N. H., and in hotel in Boston, and
was the leading protector of the Boston,
Winthrop & Shore railroad. Not to mention
numerous minor ventures, he was understood
to have very large and profitable business
interests in the far west Among his enter
prises was project to establish great sheep
and cattle ranch on an island near San Fran
cisco. From $751; to $40, 900 is said to
have been sunk here before the venture was
abandoned. Another scheme was the devel-
| opment of a salt mountain in San Domingo
| The idea was to build railroad to the noun
tain, which was said to contain immense
quantities of salt, and to be a veritable mine
of wealth. Many attempts to enlist the in
terest of various Boston capitalists were
made, and it is said that there are day a
good many in Boston and vicinity who re-
greet having ventured in the scheme, which
was a total failure. Hale was also interested
in mines in Idaho and other places, and ii is
said that many New Hampshire farmers
we're persuaded to put their savings into his
pool, and have never seen the color of their
money since
Mr.. Hale ia said to have represented to mer-
camille agencies and TO parties with whom be
has had business interests that he was worth
5000, 600 to 5000 600 with small liabilities,
qualifying the statement sometimes by say
ing that il anyone else had his affairs to set
tie his estate might not realize more than
5000, 900. He owned one Of the finest resi-
dences in Keene, and had fitted it up with
great elegance. His creditors gracously
withheld their suits until he had stepped
down and out of the governors chair, the
crash coming on the day following the inau-
guration of the new governor Three of the
Keene banks are involved for sums varying
from $4,000 to $50, 900, and various indi.
viduals and banks elsewhere suffer for like
amounts. Unsecured creditors will probably
get nothing, and it is doubtful il the attach.
ments realize many cents on a dollar. The
failure is one which should remind young
men of what constitutes real success in life,
and make them satisfied with tho returns
which steady going industry and wise econo-
my bring,