The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-11-13

sea and the Columbia and Willamette river
VALLEYS: "A a result OF TINS nIg, S hv NJ VII
lard, the bondholders whom ne repiss'GGoSGu
took over the property u the Oregon ana Sali,
htSie eansln ha', cSInpa 6Sn'P fRs,e a desls were. con-
nunnIpatedi IN 1878 and MIR Ward became fresi-
n,,oI'dh ne cornpanie-
Mr. Willard had already been elected a mem
her 81 q Frankfort committee reIrs-chtnS
the bondholders. of the Kan.a, Pacific Railroad
Company, also in default and unable TO eve
cute q scheme 10 which It had assented lot
funding tho interest, la 1879 the road usked
that Nj. Willard be made Receiver ana. ~ the
Frankfort boudhOlIer, asssited, he was az
pointed In connection with ,hfios : utisieg
Of ~. Louis, who repre>cnt,si me talirHad
company There va, friction ir9in t,e hI,,
the Kansas Pacific director entered mo an ALL
ance with the Union Pacific Railroad Con-
BONA . tssn bs SSntI%li mi., Sy Of }d iEe 'i Rsp.s, fa:
GOULD spd Mr, Wizard, Nr Willard .usoe..;
both receivers. A. that time. though, MI,
Willard had brought the bonds 81 the railroad
~, Irom 20 t9 above par ,,o
NE foreign mortgage creditors OF me oregon
etsamship. Company aud thcy. urged NJ w.
ssra e ex sn men syn adj GS' ., III fri err n i"e aud
havinS accomplished this, he turned his at
tsnuoH tcNerd an eastern outlet for the state.
pufSSs.sd e. ~ ssoc Ss 9tFh he % oregon sissiD' S.y a
ssson Sompany,, OF SapH t co,i Ho5insF sba ps-
ffssafe 70 sssist him Ia this enterprise, but was
Eiiii.rh iSncynorssxd ths oregon RAILWAY and
NaWsstios Compsny. Of which he became the
fresidsnt. Ths success Of this venture was
Snit Sor he ocean service between Portland
Sn3 san Fr.notsS ard the railroad WAS con-
ssriGtsd sI9R ms ,he s c,an,o oaq pa, 3t one ~, bet Sn1tb.
arn Pacific Railroad.
..fha, lSor,'l"In r.ciac threatened to parallel
~ Tho Ctolafnhls and in order 10 prevent this
Nr Willard entered into friendly relations With
il lie offered to rais9 enough monrv on the
ernhin IL 70 ro,1rj, Z. il. main line which then
lacked aomcthirs. Ike a Thousand miles, but tho
yas n traGlc nurasnl.n, nv which the Northern
PrJ6c svsils1 self of tho Oregon Railway
: Vi Navigation Limo until such time " 1t should
bulid one OF its own Meanwhile Mr.. Willard
learned that the Nors,arn rao!ic was prerarinS
70 reaiire The n~oce<sary amount or its bonds,
independently, and he resolved 70 enticlpate
oveaon srd rans~,rtir"nta which. a.. already
stated. contemplated the acquisition Of cop
and TIA Oregon Railway and Navigation oom-
pnnias' II Was after biyirg privately IN his
1Wn seGGspt ;b,r ID peI,s eyiiss . iss.; Tps1 se to
Il was In September 1881. that Mr.. Willard
t o1e ~ No Ssr,h"In Pacific and was elected
q. pra.iJent The ccmpletion OF the Northern
p,riAc Usa tben u,ished yiyorou.iy md the
naG =, I.Lad IL, ,ssa To rclchrsts m, COM
nnin,I,n ~ he work Mr. Willard arranged an
eroIrion 70 the northye., 10 witness the
Sriyin. q, tho ynlden sniLe which tnished the
araai rndertatin nc This e,c,ir.ion IL said 10
&c. cot Iat Zen s,oo GOO and 5000 n0O. Among
he p,ie,ts we're Germans. Enslishmen and
A,nsri|s ms Of distinction and the event was made
the occasion of triumphal Festivities, Ibis
20, p~pt com ple,ed <r Willard looked for
ward q" n rand nan. Of cttlers, and enormous
cxnonsinn ~ industry and commerce. But
q neriod Of depression came and il found the
""nn,nari,s directed hy Mir Willard involved
in nWtiays beyond he Engineers estimates
Tor ,he mos, diricult por,ions OF the Northern
pn,,Nc .,tensnn Mr. Wizard stroye In vain
80 n"ain,ain Lila oournapie,, and his friends
s,lj ia, no t',,rai almost hs entire private
,nr,u,a ina tTo gan j.snIfe This when the
,,os a. carna La wn, bitterlv r.uroached His
aai,h 49,. dnun ,rj no h,aI'y went abroad
, ,,rt n a ra' ienCei ia Ger"1nnv
vNhI. In Gcr,rnnv he formed new financial
raletinps III. ranaired his fortunes, and re-
IA rra.tic. ea a canitalist. lie became great
~ ar.snd i, 'sisItri"ify' and aided and en-
- rnoad Edi!rn in tha evteriruents which
,ns,iisd I'm The iurandascant light In 1890
t., ntrcbns,d Sro,r Eiisnn his e~lr.irieal manu-
~, nn rutt,g ir,orre.s and nrvanized ,hs Etiaon
,.nrnraIs rinc,,ic Cot"t,,ny' 81 wLi,u lie was
p,.'iaap, for tuo yaars II had boon Mr.
I,rT'. ir,artior M Mold oioof from railroad
, n,gorant mi I'm octnter. issa' inst I.fore
liz clectri0ai pnrchasss, he Welded 10 the per-
s ~ si"ns OF fs Old associated and Gecaine
"a 1rn,.n 81 The North.rn Pacific Board OF
Eiractors. Then came the commercial panic