Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-07-12
MIR. wAsHBURN's WEALTH.
The New Senator Came Very Near Be
Ing Financially Ruined.

Minneapolis special to the New York World
says: Fair Oaks, the Minneapolis home OF
United States Senator William d. Washburn il
closed and deserted. Senator and Mrs. Wash.
burn are somewhere on the Atlantic ocean on
their way to Europe, and the great house is
not likely to be opened again for year or
more. Meanwhile the most damaging rumors
are afoat concerning the Senator's financial
condition, and local business circles are greatly
excited. The truth Is, however, that the crisis
has been passed and the Washburn credit is
probably safe.
About a year ago Gen. Washburn began to
feel greatly worried over the turn his affairs
were taking. He was SO involved that he
scarcely knew where he stood. To add to his
troubles, he had just begun laying wires for the
United States senatorship. A syndicate was
formed, of which Thos. Lowry, c. A. Pilisbury
and II: E. Fletcher were leading members, to
furnish money to keep MIR. Washburns interests
above water until such time as he could dis
pose of his outside interests and get himself in
a position where he could be free, no matter
what came. His entire accounts were gone
over in detail; all his assets and liabilities were
put in plain black and white, and it was found
that. instead of his being worth several million
dollars he was not worth, exclusive of his mag
nihcent establishment, Fair Oaks, more than
S400. 900 at the outside. 1t was understood also
that the loans which had been made to tide Linn
over were made with FAIR Oaks as security. 1t
is also said that Thos. Lowry holds deed to
the homestead to secure such loans as he may
have made, but that this deed has never been
put on record.
Major Hale, business partner of Mr. WASH
burn, and a man who stands near to the Senator
in almost every way, was seen this afternoon
by representative of the World He said:
''Mr. Washburn withdraws from the milling
firm OF Washburn, Martin d Co. on September l.
This Is done in carrying out MIR. Masbburn's
well-known determination to close up his large
business interests with which he has been so
closely identified for nearly twenty-five years
and devote himself to his senatorial duties he
has practically closed out his lumber interests
in Anoka and Minneapolis. He has gone abroad
for the purpose OF visiting the springs at Carls-
bad. in Bohemia for couple of months or
more, III the hope of regaining his health,
which has been ANYTHING but good ever since
the heavy strain of the senatorial contest The
fact that he has gone abroad at this time should
set at rest any Of the idle rumors in regard to
his being in financial straits. The fact that his
residence is closed needs no explanation, as it
must remain SO until his return from WASH
ington after the end OF the long term. nearly
year from this time. At best he can only occupy
it month or 80 after his return from Carlsbad,
especially il an extra session Of Congress be
called in October"
Gen. washburn is indeed in poor health, as
man who had passed through the struggles he
has in the past year might be expected to be.
Two months ago rumors of Gen. Washburn's
financial condition caused a run on the WASH
burn bank at Anoka, and only the most strenu-
ous efforts Of the miliionaire's friends pre-
vented the publicity which would have caused
closing VI of his creditors and rendered
Senator is worth close to $500 900 and the crisis
is passed