The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-06-16
FAIRS BIG WHEAT DEAL.


San Francisco, June f2.-The special ad-
ninistratoTs OF the estate Of the late
James O. Fair are rapidly closing up the
big wheat deal which was the last venture
OF the late millionaire and one OF the few
disastrous speculations In which he was
engaged Although the public was unable
TO tell for certain who was buying such
vast quantities OF wheat at such high fig
ures, the leading commercial men OF the
city and the officers OF the most proni-
nent savings banks were able 10 make a
pretty shrewd guess in regard 20 the mat
ter. To nearly ali these institutions rhe
late senator had applied for large loans
On the street speculation was rife. and
no satisfactory explanation OF the great
wheat deal was ever given until the veil
of secrecy was withdrawn by death.
Senator Fair had TO borrow large sums
or money 70 carry on the venture. He first
used hts warehouse receipts as collateral
for money. He obtained funds on them
from the following sources: The Nevada
bank of San Francisco made loan OF
100000. George Whitteu advanced 10 the
late James G. Fair the sum of ST. IA. al.
and received that sum and interest TO the
amount OF Sc. 443 from the special admin
isrrators of the estate few days ago.
The Bank OF British Columbia lent $50.
09. for which 1t charged sll25 interest.
Balfour. Guthrie & Co furnished $500.
ance. These four loans aggregate the sum
OF s.. 4ss, s44. together with interest and in
surance. They have all been paid by the
special administrators of the estate,
In addition TO these loans the ex-senator
was compelled to seek money elsewhere,
and he was compelled to give gilt-edge
bonds for the accommodation. These loans
were az follows: Bank of British Col
umbia, 500, 600 made December IL, 1894. in
4 l1f G hxr2
bonds Of 5000 each of the Southern Pa
cifc Coast Railway Company. Bank OF
British Columbia 81. coo, made December
90 1894, interest at 5 per cent, secured by
forty bonds Of the Pacific Rolling Mil
Company at s1.00o each. forty bonds of the
Southern Pacific of Arizona of s1.000 each
and twenty bonds of the Northern Rail-
way Company of 81 600 each. Mutual
Savings bank of San Francisco, $4,000.
made December Z. 1884. at per cent. inter
est secured by 400 South Pacific Coast
Railway Company's bonds OF Sl,VO each.
Mutual Savings bank OF San Francisco,
500 900. made December Z, 1S4 at per
cent interest, secured by 200 South Pacific
Coast Railway Companys bonds or sI,oo
each Balfour Guthrie q Cos $o,vV,
made December 10. 1884. at AZ per cent,
secured by 100 South Pacific Coast RAN
way Companys bonds of $1,000 each. Bank
OF California, so 900, made December 5,
1891 at 3 per cent, secured by sixty Donus
OF the Western Railway or California al
81 coo each. Anglo-Calfornia bank, sAou.-
90. made December Is, 1884, at 5l2 per
cent. secured by 900 bonds of the Southern
Pacific Coast Railway Company or sl.Oou
each. Hibernia Savings and Loan Society,
500 600 with interest at per cent, Sc
cured hv 81 bonds Of the Northern Rail-
way of California of 81, 900 each and thirty
three bonds of the Pacific Rolling MlIi
Company of 1000 each. The James LicK
Trust. $4,000 with interest at per cent
secured by mortgage on the LICK house'
All of these loans have been paid and the
collateral released, except the Lick house
mortgage and the special administrators
saw that ii will be paid today.
The most surprising feature OF the WHO'S
AFFAIR Is that. while the leading fnanclers
of the city were Navarro or the fact ti'ae
Senator Fair had been borrowing THESE
large sums of money, his conhectloh win
the gigantic speculation never Leaked out
so as To become the public property or the
st-eat To nav the storage on the enorin-
GO quantity of wheat which the eX-sena-
tor bought In the course OF the ueai CON
s,,nned a very considerable fortune IN
itself The special administrators pau
s921 S33 for the storage OF the wheat. AZ
addition to all these expenses the "hea ,
storcd in Contra Costa county was taxed
e. .bs amount of sg5, 96l. and the wheat in
co,aro county was taxed 1913, all OF Wiiicn
bas- heen paid This vast quahllty Oh
.Loat was sold recently by order or the
court for 81 c5n 500. Two previous sdieS'
torvever had been made, one or l4'sVo to.lS
IN Nav. which brought s2eo'o''' anu tI.o
other of 1900 tons in the saine i"'A'''''
which brought slI3.szs' 80 ~.
The above are some OF the iisu[es VI e,Io
-, r,naat deal in which the late sem
stor was concerned. 1t was $3.50 s,,.'
venture and II Is certain the iale nii4i. nm. =.
aire was the first one 10 reaAlhe 'Aa' -
would he n disastrous speculation some
,,onths before he died he estimated mas
,oSs NJ q 10000 One Of his most intimate
fr,opds said today that this tremendous
less FASTENED his death and MADE ms ias1
dove r,orose and bitter. But ne careiuliy
Guarded his secret from the world anu up
- the dav II was revealed in court tnat
q vas ne who was the great SPECTATOR
.ba s+reet was still guessing VINO was pe-
hind the big speculation.
Judge Slack today allowed the attor-
rnvs and administrators or tho falr es-
tate fees aggregating 5000. 'tha Judge
4rst allowed the attorneys and aumiIis
traitors sls7. 800 but upon more mature
consideration fixed the sum 81 go 'c0.
san Francisco. June Ill W. Mcdlaut-
lin 4 Co. the brokers who handed the
Fsid syndicate wheat. have dissolved part
nership. Eugene A Bresse retiring from
the arm. The dissolution caused great
aaaI Of comment on account OF the nrin
conrection with the Fair wheat deal.
The Fair VIII Contest.