The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1912-06-20

street. New York. deary suite Of five rooms whose tenan
has not set foot therein for nearly two years The rent
paid by James Keene who still expects time return
to Wall street. although that may be just grim pretense OF
his part for he is confined most of the time to his apartments
in the Waldorf Astoria and is not likely again take
big part the world OF speculation where he ruled for gen
GRAFTON.
Mr. Keene exied from San Francisco by his DOCTOR
years ago and told by them that if he did not at
move into country and quit business entirely he woulo
be dead inside of year. He has survived all Of his
old doctors Thirteen years ago he inadvertently acknow
edged being GO years old Mr. Keene brought with him to
New York the tidy Of 100000 in cash. most of which
he had made speculation in the wild markets on the San
Francisco gold exchange during the memorable Bonanza era
Some Of the giants on the stage at that time John
Mackay, D. O. Mills Coils P. Huntington Geo. Croker Sen
ator Stanford Fair, Sharon John P JONES' Stewart and
many others of almost equal prominence Nearly all Of then
are dead Keenes dash and ndomabe courage gave him
the undspued speculative leadership Of this remarkable
group of men.
1t was in 1877 that Mr. Keene broken in health started
retire permanently from active business and enjoy ideal
life abroad He born England and his ncnations led
him that way En- route from the Pacific coast he thought
The would drop off in New York for few days. His few days
into year and in that time he increased his 81 100000
!$50000O0 He got into the market at the very bottom Of
1.-THE great depression of 1877 and took line of about AGO.
1000 shares of stock That the biggest individual deal
ION the New York exchange that time and the record
for many years thereafter.
Flushed with his success in Wall street. Mr. Keene rahy
attempted to corner Chicago wheat They trimmed him fo
the 81 100000 he had extracted from Wall street Within
few years Jay Could Cammac Woershofer and that crowd
of phanthropsts took away from him what he had left and
put him $3oooooO in the hole Mr. Keene 10 years
more pulling himself out of the mire.
Mr. Keenes greatest achievement however, that OF
making market" for United States Steel in 1901 In the
of that remarkable campaign he given carte
blanche The underwriting syndicate had paid in fund OF
2500000 and given Mr. Morgan the right to call it fol
$175000000 1t Mr. Keenes job to sell the 1,30O
600 shares of underwrtten stock and make market broad
enough take up whatever additional offerings there might
be- The public dead ripe for the extraordinary boom
that followed. It Morgan mad and Steel Morgan
creation The public absorbed the syndicate stock and the
enormous offerings of insiders many of whom felt that the
corporation had been exravagnty overcaptalzed and were
quite willing convert their certificates into cash The Reid
Moore Leeds group alone said to have realized more thar
$90000000 for it's holdings of Steel common and preferred
The campaign lasted only few weeks 1t realized for the
underwriting syndicate profit of $SOOOOO0O Mr. keene
believed have fattened his fortune $000000 1t the
biggest and most successful single otaton in the worlds his
tory. 1t was especially favored OF the gods
In the very heat of this steel campaign the Northern Pac
ic incident along disturbing factor D. p Morgan
Co. and James j. Hill had discovered that E. H. Hartman
and Kuhn Loeb Co. had been wariy buying Northern Pa
c stock and had already secured almost enough to give them
control Messrs Morgan and Hill and their associates lacked
100000 shares of owning majority of the stock while the
position within less than $4,000 shares of control After
hurried and anxious consultation Mr. Keene was called IN
md was asked to take the
The very day the financial world electrified by
emarkable CONFUSION the stock exchange. livewre
rm of brokers, Street Norton naugurated wild and APP
arently meaningless campaign in Northern Pacific Huge
docks of the stock were tossed about with appearance
liter recklessness Prices jumped and slumped points be-
sales The turmoil kept up ceaselessy all day Wall
treet ratified The thing that everybody realized
that climax had been reached in the fight between liar
imam and Hill for the control of Northern Pacific Beyond
it all guess work but the common belief was that
hartman had captured the citadel of his arch rival. Mr.
hartman knew he hadn't The fog had not lifted when the
xchange closed for the day 1t was bruted about that
Norton had bought 10000 shares of stock of North
IN Pacific and saved the day for the Morgan combna
on-or was it Hartmann Il
1T was so like Hartman many said E
AS matter of fact the play almost duplication OF
he of Mr. Keenes earlier exploits the San Francisco ex
which occasion he had wresed control of the famous
phir mine from Lucky' Baldwin for account of Mackay 5
alston pool K
At that particular uncure Mr. Keene did not care to have
identified with the purchase of 100000 shares of Nor