Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-05-11
FROM AFFLUENCE TO POVERTY,
The Sudden Fall Of Henry Allen, the Broker
and Ex-ReDOrter.


Holland " New York Cor. of the Phia. Press
James r. Keene is reported to have said that
''Jim Waterbury will not be taking so many
yachting trips this summer as he did last
year." and if Mr.. Keene had not been very wise
and learned from his experience in the Chicago
grain corner when 1t is we'll to get under cover
it is quite likely that he too would be unable to
enjoy the summer pleasures which he has in
contemplation. Mr.. Keene made a great deal
Of money, according to report, at the time the
Cordage Company was rising on the market
and in fact he and Deacon White were credited
with manipulating the bull movement.
Mr.. Keene foresaw some time ago what Wall
Street had spectacle Of last Friday. and salts
fed with his profits he withdrew. Had he not
learned wisdom, very likely he would have been
in the position in which Henry Allen found
himself last week, for it was to Henry Aliens
house that the Cordage people transferred their
accounts after an intimatiou from Mr.. Keene,
according to report. that he preferred to give
his time to other business.
Allen had been making money hand over
fist. He came here from Kentucky a few wears
ago, with ambition to do great things in the
New York markets. He had been newspaper
reporter in Louisville. and able after few
years to bring to his house the business of
some of the heaviest manipulators of industrial
stocks. In his place were to be seen every day
those who were thought to be insiders in the
lead trust, and the sugar people congregated
there. 1t became the conspicuous house for
industrial dealings on the bear side last winter
and some of the stories of Aliens earnings and
the GOODNESS with which he flung great blocks
of stock upon the market day after day in order
to break prices we're quite exciting as any OF
| the romances Of the street.
His manner was not that Of the conventional
| Wall street broker He was not irritable and
nervous like Jim Keene or jovial and With con.
slant joke upon his lips like Deacon White OF
loquacious like Henry Clews. but was the mos
| phlegmatic of men in his manner. He had re-
vealed such wisdom in his dealings early in the
winter that the very fact that he had under
taken the bull movement for the Cordage peo
| pie gave confidence to some Of the Spectators
The story of his failure is dramatic. HI
| found upon the day before the crash that the
Cordage people owed him S400, 900. He wen
to them, demanding S225,0O0 within an hour
He found them apparently perfectly cool. with
| q wonderful stimulation Of surprise that ht
| should make such demand, and they said with
| the manner Of men who have millions at dis
posal that on the following morning as soon a.
the banks were open he should have that sun
Of money. Whether they did it that Mr.
Allen should not pass a sleepless night, OF
whether they really thought they could secure
that sum. Mr.. Allen does not know.
At all events. the next morning they SEN
him word and curt brief message, that thu
money would not be forthcoming; and SO this
man who week ago was reputed to be worth
$500, 900 and who had gained a singular repute
for shrewdness found that his day of doom had
come. He stood it with forced calmness. Ye,
saw him riding on the elevated upon the cas-,
side where there were none Of his acquaint-
ances. his head nodding upon his breast like
one completely exhausted. Allen met the fate
which would have been Jim Keenes had Mr..
Keene not learned wisdom by his bitter expe.