Rensselaer Republican, Volume 18, Number 43, Rensselaer, Jasper County, 1 July 1886 — A Great Financier. [ARTICLE]

A Great Financier.

Henry Meiggs was born in Catskill, N. Y., July 7, 1811. In 1835 he went to New York City, engaged in the lumber business, and failed in the commercial crisis of 1837. In 1K33 he again started a large lumber yard, this time in Williamsburg, L. 1., arid was for a time successful, but in 1842 be again failed, and for several years had a hard struggle with adversity. In 1848 the gold excitement in California attracted him thither, and he there engaged in the lumber business, with such success that in a few years-lie was the owner of a largo number of ships and schooners conveying lumber from various points on the coast. At last a financial crisis in the money market of San Francisco forced him to borrow heavily, and subsequent depression of business made it impossible for him to repay the losses when they came due, and lie failed, and to escape his enormous liabilities, fled to South America. He settled in Chili and went into the business of a contractor for building bridges, and in 1858 made a large contract with the Chilian Government by which he subsequently cleared a profit of $1,300,000. He then devoted himself to railroad construction, and in Peru contracted for the construction of six railways, one of which, the Callao, Lima and Oroya Railroad, ranks among the most daring achievements of modern engineering. He also undertook the improvement of the environs of Lima, Peru, and accomplished it in a manner that excited great admiration. It should be recorded to the honor of Mr. Meiggs that after he had retrieved his shattered fortunes he returned to San Francisco and paid all the claims he had there incurred in full and with interest. Mr. Meiggs was a man of refined tastes and a connoisseur in music and art. He died in Peru in October, 1877. —Inter Ocean.