Gilpin observer., 1915-08-05
MILLIONAIRE MINER
PAYS OLD DEBT

pay Dack loan OF SoUO he should
butt into you and insist upon your ac.
ceptance OF a check for the principal
with compound interest at go in the
stately sum of $2,913.S3? Wouldn't
that be finei
Well, it occasionally happens. Ev-
erybody was congratulating Frank
Rogers at Daniels hotel New York
City, recently for having pulled the
capital prize in the lottery of friend
ship. All Mr.. Rogers had to say may
be summed up in few words:
Its too bad there are not more
men in the world like my old friend
John Byron Cannon 1 thought he
was dead years ago, but I'm happy
to say he is right here among US
with a pile of $4,000 900 that he made
in Alaska"
Rogers is an ex-alderman and re-
tired wholesale meat merchant. He
is SO years of age. Thirty y-nine years
ago he had market at Ninth avenue
and Thirty-fourth street. Cannon,
who is now TO- was then the owner
OF a livery stable. Business was bad
and he needed blankets and new har-
ness for his horses. He went to
Rogers, who cheerfully let him have
$500 without note or security.
Three or four months later Cannon
failed. He was honest and decent
enough to go around among his
creditors and tell them he would pay
dollar for dollar as soon as he got on
his feet.
Forthwith he struck out for Arizona
and prospecting for gold, soon began
to accumulate wealth. After period
CT eight years Cannon wrote to
Rogers and said he was ready to
settle the obligation and wanted to
know if Rogers was still at the same
old stand
The letter was returned to the
sender stamped with the postoffice re
port mot found Cannon wrote to
two other addresses and these letters
also came back to him. He went to
Dawson City later with a man named
Frazier who died in the winter of
that year from the excessive cold
In the meantime Rogers had left
New York and engaged in the oyster
business in Norfolk, Va.
Cannon prospered in Dawson City
beyond the widest dreams of captur-
ing the auro borealis. He made
fria ;.h tI,a
Eddie, Frank and George-who
We're well known on the eastern race
tracks when racing was at the zenith
of its glory. George Wilson became
postmaster at Dawson City and
through his knowledge of the legality
of gold mining claims he put Cannon
in the way of making fortune.
| The former livery stable proprietor
established himself in permanent
home at Fairbanks, Alaska A few
months ago Cannon decided to bring
his wife. two sons and a daughter to
/ New York to visit the scenes of his
youth. The party motored all tie
way from Seattle and are now staying
with friends at Port Washington,
Long Island.
On last Saturday night they came
/ to the city and had dinner at the
Hotel Astor. Coming out of the dining
room Cannon. whose eyesight has
been dimmed by the stinging SHOWS
of the Artic region. accidently bump
ed into another elderly man. Each
began to apologize.
Cannon said: Il can't see very
we'll, but know your voice. You are
my old friend, Frank Rogers, whom
had supposed to be dead"
And you are Johnny Cannon" said
warmly by the hand and went into
the cafe to have a drink together.
while the Cannon family party wait
ed in the lobby.
Cannon was first to speak OF the
$500 he had borrowed 80 years ago.
He insisted on paying it back with
compound interest. Rogers said
\ Never mind about the interest and
I don't want the 5000 unless you think
you can afford it,
Cannon drew him aside and whis-
pered: "Old pal I have cleaned up
$3.OOO,0O0 in ready money"
But neither one could compute the
compound interest on $500 for IS
years. Each of course. knew thai
money more than doubles itself in %
years at SO and would be more thar
four times the original amount o
; principal in 80 years. But with com
pound interest-the problem stagger
ed them.
1t was decided to have Billy Daniels