MEIGGS AND CO.

Wairarapa Daily Times, Volume VII, Issue 2064, 10 August 1885, Page 2

MEIGGS AND CO.

The following account of the late Mr Henry Meiggs, the founder of the famous firm which has made an offer to build the West Coast Railway, is taken from the Phrenological Journal Henry Meiggs, who died at Lima, Peru, on the 29th September last, was a remarkable man. In fact, a whole generation of men can show very few such men for energy and power of physical achievement, The story of his life reads like an Oriental romance. His enterprises were out of the usual order, and his accomplishments greatly exceeded those of men who take good rank as projectors and contractors. t ,'-y He was born in Catskill, N.Y., 7th July, 1811, and seems . almost v from'the ! first to have followed the bent of his organisation He commenced young to transact business, was a contractor for the purchaso and sale of building supplies, and had made a fortune in the lumber trade before he was 25. In the panic of 1837, he became a bankrupt: but.disaster did not dampen his ardour; and . before those troublous times had been adjusted, he was again engaged in extensive operations, and deriving enormous profits. Art possessed an irresistible attraction for him; he expended large sums of money to procure its gratification; founded the American Musical Institute in New York, which for a time had a brilliant success, but was discontinued shortly after he had withdrawn from its management.

The discovery of gold in California met his desire for adventure, and in 1849 he loaded a- ship with lumber, and Bailed for California by way of Cape Horn. Arriving at San Francisco, he. sold his lumber at once, making a profit of 50,000d015. There, foreseeing the probable growth of the country, he started a sawmill, and employed 600 or moro liion in cutting and transporting logs to his mill, for the product of which ho found a ready market, and reaped magnificent gains, and soon became a. prominent feature in Oalifornian life. In 1854, the financial pressure which paralysed the Gold Coast, ruined Mr Meiggs. His large operations involved 30 many interests and persons that he found it impossible to adjust affairs to his satisfaction, and in his extremity he resolved to leave San Francisco, and did so 011 a small vessel, taking his family and household effects. His departure created immense excitement. The report that lie committed forgeries in his struggle against embarrassment, is emphatically denied by his friends.

: Meii'gs was next heard of as a railroad builder in Chili. There among other undertakings he proffered his services for the completion of a railroad which had become tho despair of the Chilian Government, offering to build eighty-four miles of it, which involved engineering difficulties of a stupendous character, for six millions of dollars, while other engineers had estimated that it would cost over twenty-seven millions, if it could be built at all. Mr Meiggs obtained the contract and went to work. Instead of employing European labourers he utilised the Chilians, making them, with tho aid of ablo American overseers, skilled workmen, at a cost of only thirteen cents a day. He tunnelled into the mountains, excavated mines, and discharged with powerful explosives, and made such progress with the work that his operations were the wonder of all Chili and South America. t He completed the road in two years instead of three, as he had promised, and derived a considerable profit on his contract, besides a Government bonus of 120,000d01, which was awarded him, Santiago became his residence, and he lived there until 1867 in princely style. Peru was in need of a. railroad. Mr Meiggs made an offer to build a road from Mollendo to Arequipa, a distance of 114 miles. Ho had made some progress in this work when the great earthquakes of 13th and 14th August, 1868, took place, and destroyed a vast deal of his construction ; but in spite of these great losses, Mr Meiggs subscribed 100,000dol. for the aid of the people who had suffered by the convulsion, and then went on with his railroad building. As an instance of his profuse generosity, he had 300,000d0l worth of gold medals and 100,000dol worth of silver medals struck, which he distributed on the completion of this railroad. He also gave a- magnificent entertainment at Hollendo, and a great festival at Arequipa, in commemoration of his successful work ; both entertainments cost his 2QQ,QQOdoI. It may be said, however, that the profit# of his contract were very largo, He resided in Lima frgui that time," conducting his houpehoh} affairs on a scale unprecedented for magnificence and hospitality, His dinners were always prepared with reference to the presence of guests, and often 25 or more of them would "drop in," Another operation of Mr Meiggs' was an undertaking to plear away an old and dilapidated adobe wall, and a vast accumulation of refuse which surrounded the city, in consideration of receiving a part of the land which would be redeemed. This work he carried into effect, and created a magnificent park where the old wall and refuse had been, and obtained for his own purposes hundreds of valuable building lots. Mr Meiggs found it expedient to take part in the politics of Peru. For the successful completion of his great railroad and other schemes it was necessary to plan for the suppression of the revolutionary cabals, which kept the Government and country in a state of constant agitation, and embarraaed the Treasuiy. He even paid the ringleaders of the revolutionists to keep them quiet, Some railroads which Meiggs built proved failures financially, both to himself and to the Government. They were constructed mainly as outlets and conveniences for mining operations, _ and so traversed regions of country whioh in themselves contributed nothing scarcely towards their support. His contracts covered in all about a thousand miles of road, and of these only two or three can he said to havQ' proved entirely successful,' Tho chief occasion of his failure in health a year or two ago was due to unsuccess in negociating some large loans in London on account of the Oroya and Cerrp (le Pasco railroad, Mr Meiggs having "'projected a'plan of continuing this road .through the Andes to the famous,mines of Cerro de Pasco. These old and famous mines he proposed to drain by tunnels. The breaking down of his scheme in this respect broke down his health, fle had previously sustained two strokes of paralysis, and a third terminated his life.

I MrMeiggs was in some- respects quite unscrupulous in the prosecution of his undertakings, and hesitated riot' to bribe 'officers of State to secure the. aid which he required. Yet,' at cabals and corruptions cHafacterised.the Southern Anieri* can Governments when he went among ; flwin* 1 ■ his : ■ pplitic&l maoosuvring'} is said to Have wrought some change for the

better, He was extravagantly generous, as we have seen, and on that account was' called the " Monte Christo" of the western Coast of South America. He wan a manJß of imposing appearance, about sft siri iw*height, broad-shouldered, muscular, and weighing in health about 225fts. He had what was called the largest head in South America; was a, great mathematician, and was so remarkably quick at figures '■ that the Chilians and Peruvians are fond of telling jibout his wonderful arithmetical performances. It should, perhaps, be said on his behalf, that most of the people in San Franscisco who had claims upon him after his collapse' and flight frosv-dg" California were fully paid, and after many years the Legislature of California ' passed a special Act, relieving him from the consequences of any illegal acts.