Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-04-11
RISE OF JAMES r. KEENE.
How a Ruined Spectator Reeouped
His Fortunes.

How a Ruined speeuIator Reeoupee
His Fortunes.
Far Rockaway was too small to con-
tain for long the soaring spirit Of Jas
R. Keene. Gould had clipped his
wings, but his spirit remained unbrok-
en-. Only few years had passed wheI
the street began to hear from Mr.
Keene again. He had determined not
only to pay his heavy debts, but to re-
coup his ruined fortunes. He had TAX
en- the precaution while in aff1uence, sc
1t is said, to provide for those dependent
upon him. There is tradition in Wal
street that Mrs. Keene handed over
to her husband a neat little sum with
which to resume operations.
II that was the fact, the loan has beer
generously repaid, for in late years
It is said, Mr.. Keene has made 1t his
habit to share his profits with his wife
and persons who professed to know
said that in 1901 her portion of his
later winnings amounted to something
like $10,000.000.
| AS early as 1885 there were rumort
published that Mr.. Keene had scraped
together a lite capital, that he had
made 100000 on a turn in petroleum
and 100000 on a deal in New York
Central, and that this had enabled
him to make good start toward can.
ceiling his old debts.
It was not until 1893, however, that
Mr.. Keene again became conspicuous
factor in the street. When he reap.
peared at so years of age as manip'
ulator Of Sugar and National Cor.
dage stocks his oldtime associates
found him as alert and resourcefu
as ever, and with the added asset Of 6
long and rather bitter experience. His
eyes were bright and penetrating. Hi
hair and beard were streaking with
gray, but his powers were at theil
zenith.
Manipulating Sugar Stock.
Up to this time Mr.. Keene had play.
ed what gamblers describe as a "one
hand" He had rarely operated ir
partnership with others, and his exclu-
siveness invited attack by forces more
powerful than those he could command
When he came back to Wall street
after the loss Of his latest fortune, he
changed his tactics by effecting COM
bination with the Havemeyers.
For years he dictated or executed the
sensational coups in the stock Of the
American Refining company credited
to his principals. In these operations
he acted at the outset, as manager fol
the sugar trust combination. Prices
were run up and down at the caprice
of the trust managers, and in small
way Mr.. Keene bought and sold for his
own account. His first large winning
in sugar was between April, 1896, and
the following August, when the price
was driven down under manipulation
from 1853 to 95. This transaction net
ted Mr.. Keen a million and half.
In the spring of 1897 he was the re.
cognized leader Of the bull forces In
sugar stock, and 1t was understood al
that time that he represented STANDARD
Oil interests, the Whitney Widener-El-
kins syndicate, in addition to directors
of the sugar company. Vast profits
were accumulated between March and
September, when the stock rose from
1O9a to 1884, and Mr.. Keene's share
was placed conservativey at $2,00o,09o
A year'later, by precisely similar meth
DDS, sugar was advanced from 1073
in March, to 1859 in August. the leader
of the bull forces receiving as his por-
tion Of the profits $1,OO0,00o.
Prior to this Mr.. Keene had made
81 ,OOO, 900 in National Cordage, L Sc
curity which fell from $147 Il share to
practically nothing in a few months
The Cordage trust was over-capitalized
and Mr.. Keene was able, with a secret
report Of it's condition. to conduct
successful bear campaign, which re.
suited in the collapse Of the trust an6
the loss of a vast deal Of money by
stockholders.
His Feud With Mr.. Whitney.
In one of his famous coups Of 1893
In which he admitted that he made {
million and a half in two days, Mr.
Keene charged that those associated
with him in the American Tobacco
deal had broken faith. 1t is perhap:
] only coincident, but the Ill feeling be-