St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-18


ut is stated in one newspaper that
MIR. Willard gave out when he went
abroad that he should be absent only
sixty days, but that when he reached
the other side he determined to remain
an indefinite time. The fact is exactly
the contrary. He went with the inten-
ton .ef staying two years, but in couse-
qaence of the money stringency here
he engaged passage for New York for
Nov. 20, hoping to avert the worst eff
fects of the crisis. Whether he will
come back now that the panic has done
its worst, we do not know, but it is prob
able that he will. 1t will be found,
when he does come, that nobody will
bring charges against him of rigging
markets OF doing any other dIshonora-
BILE act.''
Not since the ascendency of James z.
Keene has there been SO conspicuous
figure in Wall street as Mr.. Willard. He
came to New York an immigrant. His
name was Heinrich Hllgarde. For a
reason known only to himself he trans
lated his first name into English and
changed his last name to Willard. He
had tortuous time of it acquiring the
language of the country. but he was
ambitious and bound to make his way
in the new world. BE became news
paper reporter, and while working in
that capacity formed an acquaintance
with financiers which resulted in his
being appointed the receiver of a West
ern railroad.
Receiverships have the reputation in
Wall street of being "fat things" How
ever that may be, Mr. Willard next ap-
peared as a financier. By process, or
by connections, he acquired an interest
in the Northern Pacific railroad which
speedily resulted in the control of that
property. His rise was phenomenal.
The conspicuous point in the specu-
latiye history OF Mr.. Willard was the
famous blind pool in Northern Pacific.
lie was the chief agent i'll creating the
Oregon Railway and Transportation
company, which was organized to con-
tlol the Northern Pacific and its allied
properties, including not only lines Of
railroad, but also steamship corpora
tons.
What Mr. Willard intended to be the
greatest achievement of his life was the
driving of the golden spike that should
connect the Northern Pacific railroad
with other lines so far as to form con-
tinuous road from the great lakes to the
Pacific. The effort, however, turned
out to be the means of his downfall.
He equipped the most magnificent
train that ever rolled over railroad.
The passengers were chiefly capitalists
from Germany, who had supported Mr..
Willard in his enterprise. Coming from
a thickly populated country, the region
trayersed by the Northern Pacific seem
ed to them a barren and unproductive
waste. Mr.. Willard expected to secure
new investments from them in the
Northern Pacific, but, instead, the trip
over the plains and through the mount
ain passes impelled them to sell their
holdings of the securities of the road
and thereby they wrought Wizards
downfall.
*.%
Mr.. Wizards acquisition of fortune
was as unsubstantial as rapid. He
erected great palace of brown stone
on Madison avenue back of another
palace, that of the archbishop. Scarcely
had it been completed when his mis-
fortunes overlook him. He felt his
downfall deeply, and lay for weeks In
sick bed. As soon as he recovered his |
energies he went to GERMANY. Before
his departure he disposed Of bis newly
erected mansion or, at least, part of it. |
The structure extends along an entire |
block on Madison avenue. One part he |
sold to his attorney, Artemus II. Holmes. |
and the part which he had occupied
himself he subsequently sold 10 White |
law Reid.
From the great Northern Pacific
wreck Mr.. Willard was reputed to have |
saved $685. He went again to Ger |
many. his native land. Singulary
enough the greatest losers by his fail |
ure were German capitalists, but on his |
appearance among them he inspired |
them with new confidence, and they |
provided him with the means to regain |
control of the Northern Pacific railroad |
and its tributary properties.
Mr.. Willard is said to have been a
great personal friend of the old Emperor |
William-or rather the emperor was a |
friend of his. Under 10 other circum- |
stances could he have raised funds |
enough to make himself again power |
in the financial world. There was a |
story that Bismarck forbade him to leave |
Germany. because of the losses the Ger
man capitalists had sustained through |
his projects. 1t Is true that Mr.. Willard /
remained in Germany many months |
after he was expected back here, and it |
was further said, on almost imperial
authority, that consent to his return |
was given by the emperor. But accord
ing to the narration at the time the en-