Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1898-12-01
Hs CAUGHT THs D
The Success Of 7. B. Peters as a Cattle
PlunRey.

one OF the cattle plungers OF the south
west. Besides being engaged In mining
In the Bonita district Of Lincoln county
he also deals In cattle, and II the follow
ing account. clipped from tile Denver
Post IL true, he has emerged from his
many risky deals with a fortune:
''Ons Of the most frequently mentioned
cattiemen among thOse VINO are wont 10
refer 10 the fortunes piled up Ia the
Colorado Texas trade during the last
eighteen months Of wonderful activity
In these lines Is a man named 4. n.
Peters, who occasionally comes into this
market with a consignment and pays no
attention 10 the remarks his appearances
always creates. OF all In his cias he Ia
regarded A. the phenomenon, partly be-
cause, Hs the poker player wound cay, he
entered the game with a tooth. plea and
came out with a cord OF wood.
"He was formerly n farmer in Ne
braska, but found middle life upon him
about the time that a mortgage draining
heavy interest conspired with dTougths
and all-round bad luck and forced him
TO abandon his land 10 a syndicate u
eastern loan agents.
Peters came westward, struck Denver
about the time that the panic OF 1873 did,
and then, after having found small Op.
pOTtunity for his talents, drifted south.
IL took him three years 10 reach Texas on
his hunt for an opening.
HE was In ri PasO when, about rs
months ago, the word went around
among the cowmen, big and little, that
the ranges were short aud the demand
all over the country long. he seemed
the man for an opportunity aud TecOg-
nized that opportunities come but once
IN a lifetime.
"But Peters foresight wal forestalled
70 once by the same elementary condi-
Ion that blocks thousands OF designing,
shrewd, sharp men who would II they
could catch passing chances for fortune
making. He had no money. He told a
gentleman now residing In this city and
who happened 10 know him az III Paso at
that time, that with 5000 cash then In
Land he would make 100000 In two
years. This friend had no money 10 loan
aud knew OF none who would care 20
Effect a loan 10 Peters without better
security than Peters could give, and the
matter was dropped so far as the friend
was concerned. When he next saw
Peters II was last fall, and then the
Nebraska Texan bad accumulated $780,
900 Of the 100000 that was 10 have been
accumulated of the $4,000 original
capital.
'Peters used his wits In lieu OF cash
after discovering that Il would be impos-
sible To secure the latter. lie borrowed
$40 from a friendly ri PasO landlord aud
used a part OF II In purchasing a railroad
ticket 20 chihuahua, Mexico, He was
%plunRing and plunging heavily IA the
pioneer American VINO had gone into the
market for feeders for American corn
fields.
"In chihuahua he found cattle az cheap
a. he had expected aud hundreds OF Mex.
loans who we're willing 10 sell. 4 want
n bunch OF 1000 head he exclaimed,
and ten times that many II the syndicate
| represent finds that my fret purchase
suits the market
Peters talk, manner aud bearing
caught the favor OF his southern business
acquRinta uces and no made an agree.
ment with them 10 bunch their email
herds 30 that he could make a contract
for an even 1000 with tina same parties
practically. Then he said: Il will pay
you $40 ~ bind the bargain until 1 can
communicate with my hackers"
Then he borrowed $50 from his Chi
hushuA landlord and left the country,
returning a. rapidly as the train tray-
eled 10 III Paso. In that city he found
feeders In greater demand than when he
posed ~ the one man above all others
who could deliver Mexican cattle In the
United states 10 all the purchasers he dc
sired TO accommodate.
"'Of course, gentlemen he would say
n the crowd OF dealers who we're unRc-
qlainted with Peters, there Is a pre-
jldice against our Mexican steers be
cause they are small, but you have got 70
have them and the OOner you buy the
larger will be your prOnts.'
"He carried his nerve throughout the
proceeding, and, while exceedingly Anx
iOus 10 sell, actually refused offers that
would have given him big profits. These,
however, were dependent on delivery at
nj PasO and the usual collection ut that
time.
"The time he was waiting for arrived
when one OF the dealers offered 10 take
his bunch for spot cash In such amount
az 10 give the Spectator a round profit
OF $1,000, or 81 per head, after paying
the cost Of delivering the cattle In I'll
PasO.
Peters took the money and returned
10 Chihuahua, where he found the men
who had agreed 70 sell him the steers.
They we're paid, the animals loaded into
the cars, a big hotel bill was settled with
az much flourish as though the Debtor
we're a millionaire and the landlords
t25 was returned with thanks and a bot
tie Of champagne. When no reached III
PasO with his customer waiting anx
iOusly for the shipment, he In turn
had sold at a profit. Peters paid the III
Paso landlord the f25 borrowed money
and went back 10 Mexico 10 repeat tbs
operation. He bought on contracts 10
pay on future delivery and sold for cash
Tor several months sfterward. On a
rising market he could do this so easily
that zone suspected his true condition
financially until Peters had accumulated
quite q fortune.
Later he brought cOnsignments
further north, came into Denver with
several trainlOads early this year. and ID
DOW reckoned as being worth 100000 q
$4,000, after having paid of numerous
obligations contracted while he was at
the bottom Of the financial ladder. HG
now resides permanently In ri PasO."