St. Paul daily globe., 1894-07-15

made president and took the Ice-presi-
dency himself. Then, with his "filled'
board of directors, he ordered an issue
of preferred stock to an amount not TO
exceed $4,000, 900. He had his firm made
the fiscal agents of the road, moved the
treasury and transfer office to New
York and started in with wh0op on
the Baltimore d Ohio "deal," which
proved his undoing.
To Robert Garrett he COVE S1,S00,000
of the new preferred Cincinnati. Ham
ilton & Dayton stock. and 100000 cash
as forfeit for his Baltimore d Ohio sys-
tenn. This was to be the Eastern end
of the great transcontinental road. 1t
was the hour of flood tide with him. He
hobnobbed with Jay Gould, gave enter
tainments which were the richest
known, and sailed beauti-
fs he 6adns 6ssdI1twnaSh pad fSr, Sy 'ns and Way Gn
which he had borrowed large amounts.
There was no man in Wall street SO
wondered at, so admired and initiated.
1t was impossible to keep up with his
movements, or to Imagine what he
would do next. There was nothing he
did not dare-nolhing,a ,apparently,w which
he did not at his will turn to gold. He
got all ready to sell the telegraph part
of the Baltimore u Ohio for Sl,000,OO0
more than he gave for it and the rail-
road together.
Then Robert Garrett sailed for Eu-
rope, taking the S2,000.000 with him, land
saying that the time of the option had
expired and that Ives had not fulfilled
the cuntr ct. The Mineral Range
stockholders began to ciamor, the Gin
cinnati. Hamilton Dayton stock
holders began to rub their sleepy eyes
and shout "rhiefw the Vandalia peo-
Pile were alert, the New York people of
whom he was borrowing were demand
ing their money. He was in a tight
place.. but people were so used to
expect success from him in
, the most forbidding circumstances
that they did not see why he should not
pull out of his difficulties. Any way,
he appeared prosperous. He was living
| more eXtravagantly than ever. he rode
through the country i'll handsome
private car. He indulged i'll the most
excessive debaucheries. And where
ever he went men wondered at the slim,
boyish figure and the weak blue eyes
shining through gold glasses from
cold, calm, never-smiling face. He
dressed quietly always. and i'll way
that suggested a minister.
Of course his affairs were becoming
involved. He had Stolen SO much that
he had to keep on stealing to meet the
consequences. But such gross trans
gIeSSiOnS could not continue. 1t is true,
nearly always, that tranSgresSionS re-
turn upon their perpetrators. Ives at
last felt that what he had Sown it was
now time to reap. Capitalists began to
lose confidence. Trust companies
wanted their money. Ives grew pale
and haggard, but he brazened it out.
When many were beginning to think
Il I,.
peared as master of the Vandalia road,
with its ricn treasury to delve into.
| And SO deeply did he plunge his rapa-
cious hands into 1t that III about q month
he stole nearly $2,000,0O0, and brought
| the road to the verge of ruin.
| One day. about five years after he had
! set foot in New York a green country
| boy, he sent for the reporters. That
| morning there had been rumors that by
/ the failure of Philadelphia bank his
house was crippled. Ives denied it; he
was stronger than ever. The reporters
waited for him to make the statement
! explicitly and remove all fears. Out of
! his inner office he came with calm and
cheerful face, putting a cigarette.
what is the news you have for US,
Mr.. Ives?" said one.
| "Oh," saiG Ives, blowing out a great
cloud of smoke. We've assigned. Liza
Utilities, S20,000.000; assets, 81, ,OOO."
! He was indicted on many counts and
sued for millions. He fought against
his enemies with the ferocity of despair
1t was said at the time that he held too
many unpleasant secrets of others to go
! to prison, and, sure enough, when, after
lying in prison three months Ives and
Stayner came to trial the grand jury dis
/ missed charges made against them for
overiSsuing the stock of the Mineral
I Range Railroad company. Both the
men were arrested in Cincinnati almost
a year later, accused of stealing Ger
! tificate of 2l.1S7 shares of the common
stock of the Dayton IL Michigan Rail-
| road company, but the jury was in
/ structed to acqult them, and did so.
Again were they arrested by by the G.
ii. & ID. company to recover 81. 500, 600.
! This time the jury disagreed.
Freed from all litigations, and accom-
panied by Stayner, he left the city, mar
! ried an opera singer, and again began
the acquisition of railroads. The man
had an undoubted genius in this direc-
| ton, for he and his partner soon had
more under their thumbs. Within two
years he carried out profitable opera
ton by turning an old Brooklyn dry
goods firm into stock company. With
!
secured small road in the Adiron-
dacks, and sold it at an immense
profit to the Adirondacks railroad, now
leased to the New York Central He is
supposed to have acquired supremacy
lately in the Ohio Southern and in the
| Cleveland, Akron and Columbus roads.
| He is also believed to have had connec-
ton with the organization of the Michi-
gan Peninsuiar Car company, in the
financing of which he is said to have
made considerable money.
How far Ives has been interesting
! himself in the negotiations for the COM
| bination of Brooklyn trolley lines is not
] known. but he is not believed to have
secured footing there.
| Now that career, that capacity for
getting the upper hand of men who had
grown gray in mercantile strategy, was
| nothing less than marvellous.
| Morals eXerted little influence ip these
achievements of Henry Ives. There is
no need of calling attention to those
| which the career, its whilom achieve
ments and its final failure point out.
! With all his special and superior tai
ents, ives was one of those who think
only of the near, and ignore the remote {;