The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1901-02-15
A YANKEE SCAEMER
IN SOUTH AMERICA
Wonderful Career Of GreatAmerican
Fl6ancier In Chile and
Peru.
WAS "a CALIFORNIA FUGITIVE
Henry Meigss and His Remarkable Career
After Ho Became . bankrupt
Built Railroads and Financed
Engineering Profits.
WAS "a CALIFORNIA FUGITIVE

had he been granted but a 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 cut no
figure, and he dealt in millions with
less worry than ordinary operators
handle thousands.
Henry Meiggs learned the lesson of
finance in school where large figures
were common. AS young man he
passed through the years when Cali
fornia was the worlds Eldorado and
gold was more plentiful in some sec
tons than was the water with which
to wash 1t. He rose to the crest Of the
golden wave, and his fortune was esti-
mated then at several millions. The
time of reaction caught him loaded
with properties upon which he could
not quickly realize ready coin. and with
many other things he sank before the
flood, not only losing his property, but
buried under an avalanche OF debt:
In October, 1854, Meiggs left San
Francisco not only a ruined man, but a
fugitive debtor.
For several years his whereabouts
We're unknown, and then word came he
from the south Pacific of the gigantic
operations then being engineered by a
daring Spectator named Meiggs. In
vestigation showed this to be none
other than Henry Meiggs, 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 washer
woman to whom he owed few dollars
was sought out by his agents, who
were instructed not only to pay the
long standing laundry bill, but to add
enough gold to place the poor woman
forever beyond want. One lot of debts
Meiggs declined to pay until by re-
adjustment the full amount of the
claims might be passed. to the original
creditors. These were claims which
had been purchased for song by spec
ulators when the first rumors Of
Meiggs South American success
reached the California coast. To the
clamorous brokers he turned deaf ear,
but declared himself ready at any time
to meet the full Obligations with interest
If he could pay the sum claimed into
the hands Of his original creditors For
Q 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 Meiggs' debts
was thus forced by him into the pos
session of its rightful owners.
Meanwhile the South American for
tune had grown. Meiggs cleared full
million from a contract for the building
Fport @of Valparaiso and Santiago de
Cuba.
Next came the construction of Pc
rus ortginalSrailway line between Mol
lendo and Arequipa. 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 sue
cessfully carried out Meiggs at one
time offered to build q breakwater at
l,the mouth OF valparaisoss sharbor IL the 4
Chilean government would give him
ninety nine year lease of its Sheltered
side. Forty Millions, would this, ven-
Eture have cost, but the principal har-
Dor OF Chile would have,beensrendereda
safe for all time. AsThas GhFeans feared !.
EMeiggs' rapids strides to wealth, and /.
ldemanded q large price for hesrental
iof the Sheltered side 81 the breakwater.
Ieven should the work be done without
cost to the republic. Consequently, the
project sfailed. and today the Wind
swept bay, is ithout pr6tett ton. $3.50
t,s In 1870 the financial world was
aniaxeds BY the gnituds of n contract
Peruvian government. This called for
the construction of a complete Peru
Wan railway system, even to q line
lscr0s1ing the aumtt OF the Andes. MeigRs
was to deliver the lines ready for .oper- !;
atiQn and receive the sum OF one hum
I,dred and TWENTY-FIVE millions Ia gold.
payable n alinents. - the work
progres1ets s. VI
N At nrat the moneys came promptly.
then Peru was forced to borrow to
meet the Meiggs contract, and nnally
when European loans could not be ct
fected. MeigRs accepted the obligatiOs1s
ISf the Peruvian governtnent until he