New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-02
HOW FLOWER MAKES MONEY.
INTERESTING STOCK MANIPULATIoNs.
POOR SECURITIES BOUGHT. DOOMED AND THEN

POOR SECURITIES BOUGHT. DOOMED AND THEN
UNLoADED on INNOCENT VICTIMS.
of Roswell p. Flower compelled TO refund 10
the unfortunate investors the money he has obtained by
Wall Street deals and manpulations, which ne wouo
to-day shrink from having exposed IN the lgnt OF Gay
his colossal fortune would dwindle to small figures.
This Is what keen observer of the OF the street
said saturday In speaking Of the connection OF the
Democratic candidate for Governor with certain Wall
Street operations, notable among which was the I'M
loading" Of the stock Of little Canadian railway com
pany known as the Kingston and Pembroke Accord
ing to the talk OF the Street, this OF Mr..
Flowers typical schemes.
Early In 1887 Mr.. Flower secured the controlling
interest in the stock Of this little company which was
chartered in 1871 and opened In 1875, and began 10
boom IT, The road Itself was 113 miles long, running
from Kingston TO Pembroke Ontario, and had branches
OF ten miles to its mines and mills The capital
stock Is 1850, 900 and It's bonds S995.493. Mr..
Flowers pool also secured the companys mining stock
and made a collateral boom Of this On January
the rolling stock of the company comprised IL loco
motives 10 passenger and vans, 30 box and COL
nat cars, 3 snowploughs and scrapers The list Of
directors elected last January is headed BY f. p Flower
and his brother John D. Flower. II. II. Porter, Flowers
Chicago colleague, and five Kingston hgireheads make
I'D the list John d. Flower Is vice president and the
companys transfer Office IS in the F,>wer Building No.
81 Broadway. The nominal PROFITS for last year were
1886 81.
AS soon as Flower got hold OF the stock 1t apN
peared on the active list of the Stock Exchange In
March 1887 IL was so inflated that it was quoted at
80 "a and went TO 40 IA. The next month-Aprl-
It touched AZ Is, It's highest point and then began
to waver and 60 down. 1t Is probable that II was
at this figure that the Flowers unloaded the most OF
their stock. Prices from that date continued to 90
down. In 1856 it fuctuated between SO IL and
n,p 4 ,,radf Firth and firth
In October, $780, it was quoted at IL and In December
faded out Of sight The holders realized that they
had been played for suckers by the Flower cotere
They could not give the stock away. Mr.. Flowers
stool igeons had worked It to over AZ by represent
ing the reorganist. { the company, the opening
of new mines additions rolling stock and the Ike
The same wind which was useful In booming
'he railroad stock sent up the Pembroke and Kingston
nl...z stock until Il cached s. IS share When
D.. poois Interests J. ad been subserved the stock
dropp, I7tl Il down 10 25 cents share.
SAID a prominent operator yesterday so attractive
did Mr. Flower n, re th' stock appear that people
were falling "acb other TO get IT. When 1t got
up To nearly S6 the bottom began to fall out The
railroad and mining stock manpulatons occurred about
the e,Inc time. The profits Of the ring which I'M
loaded this wort css stuff upon innocent people must
haze been enormous
NJ Flowers wealth secured in large degree
by surh operations this" said another welnformed
Wall street man yesterday. No wonder that ne can
esta' lsh Flower missions and endow libraries and
no. l.opathc hospitals. II the conscience fund got
all i. ought TO have, how Mr. Flowers assets would
shrink"
The notorious deal in the West Wisconsin Railroad,
afterward the Chicago, st. Paul and Minneapolis Rail
road was another rare piece Of manipulation which the
hambOyant millionaire Is credited with. The road
Is III miles long and runs from Elroy to Hudson,
Wis. With the North Wisconsin and the St. Paul and
Sioux City Railroads, it now forms the Chicago. St.
Paul. Minneapolis am omaha Railroad. d. A. Bald
VIM from whom Mr.. Flower and H. II. Porter. Of
icago, already spoken Of codirector with Ros-
Ser In the Kingston and Pembroke schemes obtained
the property died insane from grief and poverty
farm near jersey City. J. o. Fowler Of this city, says
that Just after the Mr.. Baldwin, far seeing.
shrewd and stirring Of business. obtained the
charter for the West Wisconsin, which took with IL
from Elroy TO Hudson In 1875, when the panic came
which spread financial ruin over the country Mr..
Baldwin, who had begun 10 feel the pressure for
money, turned TO Flower and Porter for aid. Bald
wins interests estimated to be worth nearly
COO OO0 but for $4,000 they secured most Of the
stock OF his road with all the lind grants promising TO
retain Mr. Baldwin rs general manager. The agree
ment was never kept. AT the next election ne was
The earnings of the property which Baldwin trans
erred enormous. the land grants alone adding
S5500OO TO $7500OO yearly 10 the net proceeds
Mr.. Fowler that Mr.. Flower and Mr. Porter turned
dollar and that the operation added So 900 900 to the
wealth Of Roswell P. Flower. This Is the man whose
beautiful charities held for the admiration Of
his country men, and set In IS reasons for
making him Governor Of New-York. Whose money
has he been giving away