New-York tribune., 1902-01-19
LEADING ON TO FORTUNE.
GLENGARRY MINE-ARMY AND
NAVY RETIREMENT.

NAV RETIREMENT.
One of the young who have come into
prominence in the last decade in this country is
F. Augustus Heinze. whose legal battle with the
Amalgamated Copper Company, in Butte, Mont,
has made his name known the country over.
Heinze. who is only thirty-two years old,
graduated from the Columbia College School of
Mines in 1889. He is of strong physique, we'll
above the average height, and Napoleonic in his
cast Of features While his success Is due 70
his own abilities. in his career. however, in the
career of most successful men, fate. luck, or good
fortune. has played an important part. and this
luck has served him we'll at more than one
critical jurcture Of mis- career. Just after he had
started in 10 become a copper king luck SEEM
ingly for a while deserted him. His affairs went
from bad worse. and it looked though this
boy wonder he is termed in the Northwest.
might be cut off in the beginning Of his business
career. At this juncture the owners offered to
him the Glengarry mine and after considerable
debate with himself he decided to take il over.
He felt financially at the time somewhat in the
plight Of being killed either for sheep
lamb. and. deciding in favor OF the sheep
cepted the Gengarry. Before he came to
decision. however the owners Of the mine had
pulled out the pumps, and the mine was flooded.
Mr.. Heinze. unaware that this had been done,
on the 800 foot level and sent them TO the
mouth Of the mine There. however. he ascer-
taned what had been done and that below the
1O0-foot level the mine was flooded. There was
nothing for it but 10 try his luck on that level.
and this he did. He pointed out various places
where his sixteen men should begin work. and
then returned TO the shaft and signalled for the
ca ge 10 take him 10 the surface. As he awaited
its descent he thought that IL the sixteen miners
whose picks he could family hear did not find
ore his lot and theirs would probably be equally
hard They found II, however, and exceedingly
rich IT was and he took out OF the 1OO-foot level
OF the Glengarry ore Of great value. which
abled him feed his smeters and also TO turn
an exceedingly sharp corner in his finances
Later when everything was rosy again. and the
in the Glengarry began TO run out. Heinze
pumped the mine and put large gang of men
at work on the ;}O0-foot level where he had orig
inally intended the start should be made.
Though he sought the high and low he
found il not nor has he since found any more in
that mine. That first strike on the 1OO-foot
level the only one In his efforts to find
at greater depth Mr.. Heinze expended far
greater sum than that which he had before
taken from the Gengarry. II made no differ
ence TO him. however. for other properties had
developed. and money was plenty. But when
he made his Glengarry strike 1t at the nick
of time. and saved him and all his interests from
going to the wall.
In these days Of great excitement in stocks
when the public interest in the rise and fall of
securities Is almost universal, Is forcibly
reminded OF the old days the Pacific Coast
of the mighty Comstock Mine. In the Com
stock days. wlren the Big Four, Mackay. Flood
Fair and OBren. pulled the strings. every man
and woman, and many of the children. of Call
fornia speculated in mining stocks The certif-
Gates of the Comstock Mine sold at one time for
81 900 and over a share. and then they gradu-
ally shrank until their value became as moth
ing Associated with those who managed the
mine was a certain Western pioneer. and Of
Comstock shares he was of the heaviest
holders. In due course OF time he paid the Ssebt
of nature. and the shares. by will. together with
the rest of his property. passed into the hands
of his widow.
She. a woman in the prime of life possessed
of acute intelligence. had been we'll educated
by her husband in business affairs. She was
d keen judge of men, and TO that judgment she
owed her preservation from serious financial
loss. To her day came one OF those prom-
nent in Comstock affairs. and to her he spoke
as follows:
We've made another great strike IN the
mine but for the present we are going TO keep
it dark The body of uncovered is great
that 1t will certainly double, and probably
treble, the present price of the stock. We are.
cumulate some shares. In doing so we Will
probably have to depress the market. l wanted
to tell you of this coming recession in values in
order that you would not get scared out for IL
you hold you will ultimately get very large
prices for your stock" The widow seemed visi-
bly, impressed and to accept his advice with
out hesitation. She thanked him sweetly, and
away he went. He had not turned the street
corner. however. before messenger from the
woman speeding toward her broker. 1t
told MIN sell her Comstock shares. but TO
sell them carefully and in small lots. and not
to break the market and in no way to diVulse
from what source these shares came In the
next two weeks the widow and her Ccmstock
shares became separated from each other, but
for them she received prices that now seem
ia abulous, and at which the stock never sold
axain.- The insiders. to protect the market. had