The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-11-08
YANKEE MONTE CRISTO.
Marvellous Career of Henry Meiggs.
Worth Millions in California, and
Left That State a Fugitive
Debtor-Made New For
tune in Chile and Peru.
Douglas White, in Ainslce's

Douglas White, in Ainsce's.
No tale of the fortunes which have
been built up by North Americans in
the republics of Latin America would
be complete without reference to the
career of Henry Meiggs. His opera
tions in Chile and Peru form the most
| spectacular story of finance which
South America has ever furnished, and
beyond a doubt, had he been granted
but few more years of life, he would
have died one of the richest, if not
the richest. men in the world. To him
the amount of money involved in a
transaction cuts no figure and he dealt
in millions with less worry than Or
binary operators handle thousands.
Henry Meiggs learned the lesson of
finance in a school where large figures
were common. AS young man he
passed through the Yeas when Cali
fornia was the worlds ElGorado and
gold was more plentiful in some Soc
tions than was the water with which
to wash il. He rose - the crest of
the golde1 wave, and his fortune was
| estimated then at several millions
Uhe time OF reaction caught him load
ed with properties upon which he
could not quickly realize ready coin
and with many others he sank lefore
the flood not only losing his property,
hut buried under an avalanche o.
debt
a FUGITIVE DEBTOR.
In October, 1854, NIeggs left San
Francisco not only ruined man, hut
a fugitive debtor. For several years
his whereabouts We're unknown, and
then word came up from the South
Pacific of the gigantic operations then
being engineered by daring specu-
lator named Meigss. Investigation
showed this to be none other than
Henry MegSs. the man who had fled
from debt in California. Then Meiggs'
creditors began to hear from him, and
one by one the California debts were
wiped out. Even a washerwoman to
whom he owed a few dollars was
sought out by his agents, who were
instructed not only to pay the
claim, but to add enough gold to
place the poor woman forever be-
yond want. One lot of debts Meiggs
declined to pay until by Il readiust.
ment the full amcunt of the claims
might be passed to the original credit
ors. These We're claims which had
been purchased for a song by specu.
lators when the first rumoc of Meiggs'
South American success reached the
California coast. TO the elamorous
brokers he turned a deaf ear but de-
clared himself ready at any time to
meet the full obligations with inter-
est If he could pay the sum claimed
into the hands of his original credi-
tors. For time the brokers held out.
but as Meiggs was safe from attack
they finally We're obliged to yield, and
the money for thousands of Meggs'
debts was thus forced by him into the
possession of its rightful owners.
Meanwhile the South American for
tune had grown. Meiggs cleared a full
million from contract for the build
ing of Chile's first railway between the
port of Valparaiso and Santiago de
Chile.
A TI-MILLTONAIRE
Next came the construction of
Peru's original railway line between
Mollendo and Are1uipa, which doubled
Meiggs fortune. Every contract was
made directly with the government of
the republic wherein the road was to
be built. Scheme after scheme, each
more gigantic than the other, was
successfully carried out Meiggs at
one time offered to build a breakwater
at the mouth of Valparaiso's harbor
If the Chilian government would give
him ninety-nine year lease of it's
sheltered side. Forty millions would
this venture have cost, but the princi-
pal harbor of Chile would have been
rendered safe for all time. The Chile