The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-06-13

Mining and Financial News. 81 suspect
hat were new bonanza TO be founC
the good and evil that were worked
on the old world in the great days
would be repeated, all except perhaps
here could not be quite a duplicate OF
some Of the men that were prominent
in those days.
This IS the way an old Comstocker
'butted in on group of brokers on
the curb yesterday, and, continuing, be
said:
William Sharon was the inspiration
Of the Comstock for several years He
was little man, about one hundred
and thirty pounds. always delicate, and
when things did not 90 to suit him, in,
cined TO be irritable
"When he went to the Comstoc1 it
was staggering under a load which
seemed impossible to extricate it from
There was plenty of ore, but there was
not money enough to carry the immense
business on. The little banks that ex-
lsted before Sharon went there had
Loaned all their money at thieving rates
or interest and taken mortgages, and
they were In fix, because if they fore.
closed tho mortgages they would have
some doubtful property on hand which
they had not the genius to handle.
''Mr Sharon took it all in and, in
IL
who had the Bank of California in
charge, took up that old indebtedness,
had the mortgages assigned over to
him, settled with the owners Of the most
valuable properties BY taking a part
or ali they had. reduced interest from
the old thleying rates to one per cent
month, which was a reduction of five
to one, With his great organizing
power he pat the whole lode on bust
ness basis and with his unmatched
executive ability reduced it all to clock
work. His work was an Inspiration to
the lode and for several years he was
literally the king Of the Comstock.
AT that time John Mackay had
made no noise in the financial world,
but was pursuing his way in a quiet
manner, for he was never given to
making q noise. No trumpets went be-
fore him heralding his coming, no
heavy guns were fired on his arrival,
bat he had all the force, all tho energy.
all the business acumen needed for any
enterprise.
$50 one day he went to tho Cali
fornia bank run by Mr.. Sharon. The
two men were talking business. Sharon
behind the counter, Mackay in front.
Mackay was not large man; he was
five feet nine and three fourths inches,
and a perfect athlete, No cleanef,,cut,
perfect man, physically, ever walked
she streets of Virginia City or any
other city, and it was said of him that
there was no exercise he loved so much
as little, quiet boxing match.
Well, talking business Sharon had
at last become angry. and, as he always
did when he was angry, he became
insoleut and in burst Of bad temper
he said TO Mr.. Mackay:
blankets out OF this city before get
through with you.
'Mackay stammered a little, when
he was angry he stammered pretty bad
lv. and when Sharon made that remark
he said. in n soft voice:
:" You will? Well, there is o-o-one
comfort, about it. Sharon, if it comes 10
that. ! can p-p-pack my blankets out
if you had to?'
1T went on for many months: the
two men were not good friends. But
one morning Billy Woods, who was one
of Mr.. Sharon's attorneys, met Mackay
on the street and said:
90 What is the matter, Mr.. Mackay?
You look disturbed this morning
- He said; Il am. I have got 20 raise
$50, 900 before , clock or my stocks
Will go as forfeit, and ] believe,
months. they would make me not only
thousands but millions of dollars
:'Wood said: Come to my Office
Mackay did so. Tho legal firm was
Sunderland and Woods Woods briefly
explained the matter TO Sunderland and
he said;
Mackay. Let me sec what ! can do.
I'm a few minutes he returned with
a note filed out for 100000, payable in
six months at low rate of interest,
and he said:
20 Mr. Mackay, take this note down
10 the hank, sign it, and leave your
stocks as collateral,
"Mackay said: From whom does
this comet
Sunderland said: 'Mr Sharon; and
ii is time you Two men ceased quarrel
ing, because your interests are identical
here
"Mackay got the money, redeemed
his stocks, and, Just as he sald,, before
the six months were out his stocks were
worth millions. But he had no more
enmitv for Mr.. Sharon. When Sharon
was a candidate for the senate III 1874,
Mr., Mackay was his staunch supporter.
He spent money like water for hun,
and when the great crash came on the
California bank and Mr.. Flood, vim.
do some things which would have hui
inflated Sharon n little, Mackay inter
posed and said:
81 You can fight Sharon all you
want 10, but you must not disgrace our
firm by doing what You propose to do,
which was nothing less than to open
n bar on the counters of the Bank of
California,
"And the way Mr.. Sharon reorgan-
lied that bank and made it better than
il ever was, was one Of the marvels Of
west coast fnnncicring for Sharon was
financier. He had played too much
poker TO be bluffed. he had too much
faith in himself TO think he could ever
be downed, and when Mr.. Mills and
Mr. Reese and the other Stockholders
of the bank were Frustrated oyc- the
showing that the bank made after the
fnilurn. il was Sharon who opened the
beautiful parlors in his private house,
had long table put therein, and amid
clouds Of tobacco smoke fought that
thing out for three months, telling those
stockholders that all they could do TO
redeem themselves was to put up the