The clarion., 1886-04-21
MISSING A MILLION.
How Near a Legal Luminary Came tc
Making Fortune.

stiu itpotAtI ~ q Wtil-
known representative of the legal pro-
fession in San Francisco, Il have been
told that you and some of your friends
came near buying Alaska from the Rus
sian government before the United
States made the purchase. Is it true,
and will you tell me the story?'
'Well," said the judge, 1--WE were not
going to buy the whole of Russian
America. We had our arrangements
made to buy the best part of it, though.
II you would like to know how | missed
being millionaire viii tell you"
Il think it was in 1860 that a jew
named Goldstone, who had been up to
Alaska, came here. He gave a glowing
account of the great fortunes made in
the fur trade in the north. He wanted
me to furnish money to start trading
post up there. In the course of the con-
versation he mentioned incidentally
that all the trading posts, arms, and
ammunition, stores, forts. and vessels in
the trade had belonged to a Russian fur
company. which had leased them to the
Hudson Bay company. The lease as
well as the privileges of the Russian
company had run out. and everything
now belonged to the Russian govern
ment. He thought that the Russian
government would be glad to sell the
whole thing out to a good American
company. Rnssia and the United States
were on particularly good terms at that
time. i talked the matter over with
some of my friends, and we arranged to
get up good company.
Il then went TO Senator Cole and
l..
Minister Stokel if there would be any
chance 10 make the purchase. The
proposition was favorably received, and
we organized company. with Gen.
A. Miller as president and Eugene Sulli-
van RS vice-president. The other
members of the board of directors were
William Ralston. Alvinza Hayward.
Senator Cole. Sam Brannon, and Alex
ander Badlam. Senator Cole then for
mally opened negoti iations with the
Russian government through Cassius
NJ Clay, who was our minister at that
time in St. Petersburg. and Stokel, at
Washington.
The Russian government then sent
out an agent. with full power and au-
thority to fix the price and terms of pay
ment and TO sign the papers and agree
ments on the part of Russia.
I'VE met the agent at the Occidental
hotel, and spent day and night in
making a trade with him. Our arrange
ment, as finally made. was that every
thing was to be turned over to us, forts,
ships. arms, ammunition, utensils and
furs on hand, for price a little over
S150.000. with the exclusive privilege oi
taking and trading for furs. The com
pany made better trade than the gov
ernment did afterward, / think. The
agreement was not signed, but the com
pany appointed Henry E Baker agent,
with full power to execute all papers il
the schedule of property was found tc
be correct The furs alone reported on
hand would have paid the purchase
price twice over.
Col. Baker went on board the
steamer Alexander. which was included
in the property to be purchased, expect
| ing to sail the next morning. Late IN
the afternoon of the day he went on
board Eugene Sullivan went down te
the dock. He was the vice-president o.
/ our company. and told Baker and the
Russian agent that the company hac
/ finally decided to back out of the trade
| Baker came ashore. and an agent OF the
| present Alaska Commercial company
went on board. The Alaska company
had been trying to negotiate for som,
time before, but the instructions of thu
Russian agent were peremptory to trade
! with us if we would trade. Our declining
gave them chance, which they ayailee
themselves Of Gen. Miller and one ol
two others were smart enough to ge
into the new company. and have made
4 fortunes out of it,
1T was the one chance in lifetime
that a man has TO make a fortune. ane
IL missed it. The company made
trade. / don't know the particulars Q
il, but just about that time 1t seemed :
occur to the Russian government tha
I the American company might not tax
proper care Of Russian subjects an
afford them the protection that had bee
given by their own government In
discussion of this subject led to prt
posal 10 sell the whole country to tn
American government, which finally n
suited in purchase, the details OF whic
|. everyone is familiar with. San Fran
/, cisco Call.