Kansas City daily journal., 1895-08-08
youSa II. r. CHENEY.
The Young Man Who saved the santa Fe
Property From Couhscation.

From the Financer
The announcement is made that the vast
| interests Of late II. i. Cheney of Boston,
| will be looked after by his son, H. L.
Cheney, Jr. Although but a very young
man. the latter has already won his way to
the front on his own clear Judgment and
grit.
The elder cheney held a round 1900
shares Of Atchison stock. thereby being the
largest individual stockholder In this great
corporation. His continued faith in this
property and his conscientious determina-
tion to act honorably as director OF the
company was we'll demonstrated by the
fact that during all the years of threatened
bankruptcy and during the last reorganza-
ton, when the stock tumbed from $i2O TO
S2V, ne did not part with a share of his
holdlngs., OF no other director or official
lerse block of stock. succeeded in saving
the property from Connscation. and prOh-
able further wreck az the hands OF Wall
protective committcci"
With the assistance Of Director Gloed. OF
Kansas man whom he holds ~ very
high esteem, he accomplished results that
ave almost marvellous. Young cheney Is
really responsible FOR the retirement Of the
old board of AtChisou directors IL was hts
arguments. his letters ana his demands
that really brought about the change aud
opened the way 10 a clean ana new IDEAL"
In one instance he Is said to have been
% one Of fRe ii Old directors MIG SbiScted to
the demand Tor his resignation The letter
was plain tn its expressions and emphatic
In its demands. The desired resignation
came the next day.
This movement for the control Of the At
had been met with bitter opposition at
every step but despite this fact. Mr..
over Yer 6io.G9 out OF the icJ5.6o shares OF tie
stock something that has never been done
corporation. and something that was es-
pccially remarkable in view Of the existing
differences Of opinion among the various
After his graduation in 1870 from uar-
YARD. ms Inclination, Tor ume. WAS Was 70 en-, EN-,
this was given UP. and instead. he went
learning the banking business.
lie began az the lowest round, worked
was chosen as a director of the bank, taxi
ing the place of his father, who desired
to retire. He Is now the most active man
About this time. also he entered his
fathers Office, over on Court square, and
MIR soulc, his fathers confidential clerk,
who had served him for dozen years,
found new burdens coming to his shoul-
ders as ne was really the only man who
could with any degree of success per
form the duties that had belonged TO Mr..
lie had hardly gotten well started with
his new duties when a recurring attack
of grip prostratcd his aged father and
made it necessary that he should at once
take the whole care OF his fathers null
Some idea of what this meant can he
cleaned from the fact that there is no
office in Boston which represented so
many ana so great financial interests as
this Of Mr.. Cheney. Large holdings of
various New Ensllnd railroad and bank
ing. properties of the American and Wells
4 Fargo Express Companies Of the Atch-
isuu, Mexican Central, North Pacific and
a dozen or more large Western corpora
tons an made IN g large part Of Mr..
them all demands the wisest and best of
business Judgment.
In nearly if not all, these concerns, the
within the past eighteen months his SON
as his representative, had succeeded him
Mexican Central, Northern Pacific and
san Diego Land and Town Company.
Within year the san Diego Land and
Town Company, which owns much valua-
BILE property at san Diego and National
City, In southern California bought with
Boston money. has called him to he it's
took hold OF 1t. in a bad financial condi-
ton, but he succeeded without making
much noise about II, In placing IL on a
substantial basis and giving 1t a high
lie is a strict believer IN business prIn-
ciples. and IS never too busy to talk busi-
ness, but VIII not waste moment in busi-
ness hours ON people who come to see him
on other matters He is a spjendid is
tener, but talks himself very little He
observes quickly ana acts promptly Al
together he seems to possess all the quail
tiles that 90 to make up a successful
business man. and that are likely to as
sure for him In the future a wonderful
a'Felopment of the achievements which
ne has already won. He is proving him
sell a worthy successor Of his father.