Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1899-10-30
BLUFFED THE TRUST
HOW A YOUNG GERMAN MADE A
COOL MILLION
ERECTS A COMPLETE PLANT
At First Refuses all Offers for It's Pur-
chase But When the Magnates at
Last Reach His Figure He Sells
Out to Them Graciously, and
Leaves Them in Possession.

This is the story of how a young
man with some capital and more nerve
bluffed the sugar trust out of cool
million.
There came to Camden, N. J., early
in 1890 young man but a few years
over 30, who in appearance is strik-
ingly like the emperor of Germany
This gentleman is AdOlph Siegel and
he soon won the admiration of the
capitalists of Camden on account of
enterprise and his many practicable
plans of enhancing real estate values
in the city across the Delaware. Mr..
Siegal had considerable capital Of his
own and he began theoretically to
make it productive. His first venture
was an artificial ice manufacturing
establishment, which proved a sue
cess from the start. He next es-
tablished large match factory and
this, too, was a profitable venture.
After having disposed of these
properties at a profit he quietly set
about to buy the property along the
river front situated between Penn
ClAO 1A1lAdCI OIL CCCO I'll ChC 41O4 Ill cbANa
south and Delaware avenue on the
west. He finally succeeded in getting
| the entire block, running 1880 feet
west, with full riparian rights, for
| 100000 cash. Then he had two promi-
nent Philadelphia architects make
plans for sugar refinery and ar
ranged to have this equipped with the
best and most modern machinery to
be had for sugar-making. When the
preliminary arrangements were COM
pleted he entered into negotiations
with contractor. The builder was
startled at the project of his friend
Siegel and remarked in amazement:
"Why, Siegel, what in the world do
you know about running a sugar re-
| finery?"
"WeIl," replied Mr.. Siegel, 81 know
I don't know anything about it, but
do know the people who do know all
about the business, and I think can
interest them"
Although the contractor was skepti-
vinced him that he knew what he was
about, and in a very short order
building operations were begun.
Without any publicity the structure
was pushed to completion. The steel
frame work for the ten-story building
stood out in bold relief against the
horizon, and, though it attracted much
attention, very few were able to give
any information concerning it. Those
employed in the construction were as
| little posted as the general public, ex-
cepting, of course, those in charge. To
all inquirers the same evasive answer
was given and the mystery was kept
up until the building was finished.
Even then no one not directly con-
nected was given any information, and
so it was that Camden had within it's
confines one of the finest equipped
sugar refneries in America without it
being generally known. While the
public was inquisitive, the men at the
| head of the great sugar trust got all
the details from some source or other.
Everything was in readiness for oper-
ating the refinery and the boilers were
inspected prior to starting, when a
halt was called by Mr. Siegel.
The sugar trust people had sent
their representatives to Mr.. Siegel and
began negotiations for the purchase
Of the plant. The agents of the
Havemeyers were surprised to find
that the protector of the United States
Sugar refinery, as the new Camden
works were called, had so perfectly
planned that there was not a single
impeachment in the way of successfully
operating the plant.
Piers had been erected at the river
frontage of more than 500 feet in
length, and these permitted of storage
and shipments of boat loads of raw
and refined material. Along the side
of these piers were several tramp
steamers, which were the property of
the refinery, and these had the appear
ance of being about to sail for. some
East Indian port for cargoes of sugar
cane.
This one fact more than any other
convinced the sugar trust people that
immediate purchase was necessary in
VI uC4 W hSSp ILLS OppOo1C1OA 4uoClCu-
ton from becoming operative. Of
fers came in thick and fast to Mr.. Sic
gel, but at first he refused to give
them any consideration. The Have
meyers kept raising their offer and
still he would not sell.
Finally the fires we're started in the
boilers, and when the smoke was seen
issuing from the United States Sugar
refinery the Havemeyers made him
an offer considerably more than his
investment. But. Mr.. Siegel still re-
fused.
When asked what his best terms
were he said that 81 100000 above the
cost Of the plant might be considered.
After some little dickering it was
finally agreed that he should be paid
the $1,0OO,0OO and cost of the plant.
This amount he received and all of it
was in cash.
When he had turned the plant over