The Savannah morning news., 1900-11-13
AYANKEE MONTE cnIsro.
The Marvellous Career Of Henry
MciEEs Of California.

NO tale 81 the fortunes which have
/ bceu built 40 by North America IN the
/ republics OF Latin America would be COM
plcte without reference 90 tho career OF
Henry Meigss HIS operation in chile
ard Peru form the most spectacular story
/ 81 finance which South America has ever
furnished and beyond a doubt. had he
7 been granted but Few more years Of life.
be would have died one Of the richest. u
rot che richest men IN the world To him
.h, amount OF money Involved In trans
action cut no figure. and he dealt in mill
lions with less worry than ordinary op-
/ orators handle Thousands
Henry Meiggs learned the lesson OF
finance In school where large figures
. were common As a young man be passed
. through the years when California was
the worlds Eldorodo and gold was more
Z plentiful IN some sections than was the
water with which % wash 81. he rose 20
the crest ~ the golden wave. and his for
tune was estimated then az several mill
I lions The time o. reaction caught him
loaded with properties upon which he
could not quickly realize ready coin. and
with many others he sank before the
Hood. not only losing his property. but
buried under an avalanche o. debt.
Fugitive Dcbtor.
In October. 1874. MeigEs lef, San Fran
/ cisco not only ruined. but d fugitive debtor
For several years his whereabouts were
unknown. and then word came up from
/ the South Pacific Of The gigantic opera
TONS then being engineered by daring
I SPECTATOR named Meiggs. Investigation
I showed this 10 be none other than Henry
I sfsh "a az Nat frFrr1 debt
o. California, Then MeiEgs creditors be
gan 10 hear from him. and one by one
the California debts We're wiped out. Even
I a washerwoman 70 whom he owed few
dollars was sought out by his agents,
l who were Instructed not only 90 Jay the
| longstanding laundry bill but add enough
gold 90 place the poor woman forever be
| yond want. One lot OF debts Meigge ds-
cHned 90 pay until By a readjuHtment the
| fun amount n the claims might be pas
. sed 20 the original creditors These were
claims which had been purchased for
song by Spectators when the first rumor
| % Aiciggs South American success reach
| "a the California coast To tho clamorous
| brokers he turned a deaf ear, but declared
! himself ready at any time 10 meet the
fun obligations with interest II he could
pay tho sum claimed into the hands or
I hts original creditors For time the
brokers held out. but as Meiggs was safe
1 from attack they finally were Obliged TO
WELD and the money for thousands Of
Meiggs debts was thus forced by him into
tho possession Of It's rightful owners
/ Meanwhile the South American fortune
had grown MelFRs cleared a full million
from a contract for the building OF Chile's
! nrst railroad between the port OF Val
Iaraiso and Santiago de Chile.
4 MuItI-MIIIIonaire.
] next came the construction % Perus
original railway lire between Mollendo
I aud Arequipa. which doubled Meiggs' for
I tune Every contract was made directly
with the government Of the republic where
/ I'm the road was 20 be built Scheme after
scheme. each more gigantic than the other.
was successfully carried out Meiggs al
one time offered to build a breakwa e
al the mouth OF Nalparaiso's harbor u
the Chilean government would give him
A ninety -nine years lease Of its sheltered
] side. Forty millions would this venture
nave cost. but the principal harbor Of
! Chile would have been rendered safe for
an time. The Chileans feared Meiggs'
rlpid strides 10 wealth. and demanded
/ large price for the rental OF the shelter
"a side Of the breakwater, even should
| the work be done without cost 70 the re
/ public. Consequently. the project failed,
4 ana to-day the Nihu-aMNPA Nos - 49,
/ out protection.
In 1870 the financial world was amazed
/ bv the magnitude OF n contract entered
\ into between Melggs and the Peruvian
/ government This called for the construc-
ton OF a complete Peruvian railway sys-
| tom even TO a line crossing the summit
81 the Andes MeigEs was 20 deliver the
lines ready for operation and receive the
sum OF one hundred and twenty-five mil
lions In gold. payable in installmonts. as
the work progressed
| At first the monty came promptly.
| then Peru was forced 20 borrow 20 meet
tho McigFs contract. and finally when
| European loans could not be effected,
| Nciegs accepted the obligations Of the
Peruvian government until he practically
| owned the republic Even the assasslna-
ton OF his friend. Col Balta. then Presi-
dent OF Peru. failed to interfere with the
railway plans
"Flpallv Peru could DO no more. and
MelEgs' own fortune was tied up IN the
| building % the railways. SO for lack OF
money the work was stopped Negotla-
I tons for a further loan from Europe. with
| Meires' assistance were almost consum-
/ mated when In 1871 death cut on the most
! remarkable career % any Yankee IN South
1 America. with his death the loan neeou-
/ ations failed. aud then followed Perus
unfortunate war with chile. lntN lN,t
| the Meiegs railway operations slImhcrcd.
Ia that wear when peace came 10 the two
| republics the firm 81 W r. Grace & Co
| took w the Meiggs contract. and work
| has since been pushed Internationally.
'.fn spite OF his success Meiegs never
| revisited tho state % California. Ills trials
| there seemed 10 have created Ia him an
aversion for the place. Even a resolution
passed by the California Legislature ask
Ing him TO return. failed 10 influence him
to visit the state.
zone OF the peculiarities which charac-
terizsd this brilliant operator was that
he always worked alone There never was
a partner in hts dealings and he never
| sought advice lie looked into the future
| through no mind save his own. and when
once his course was shaped he never
| changed H.
His personality was most attractive.
his manner never changing no mattcrwhat
the provocation. His lightest speech In
| splred confidence. and TO this fact is due
| In a great measure the success he achieved
in the manipulation OF his gigantic spccula-
ton. Neither Of the American continents
| will ever show another career exactly
| parnllelng that OF this daring operator
@-~@
Sweden Is suffering from the effects Of
a boom IN manufacturing which has
drawn thousands OF the country people TO
I the larger towns and caused house rents
] a., aavnnce % or Sd per cent Many OF the