Henry Meiggs
Encyclopedia
Henry Meiggs was a promoter/entrepreneur and railroad builder. He was born in Catskill, New York
. He came to New York City
in 1835 and began a lumber business, but was ruined by the Panic of 1837
. He restarted his business, this time in Brooklyn
, but again met with failure. Finding success in sending lumber to the Pacific Coast, he finally relocated to San Francisco after the discovery of gold
by taking a cargo of lumber there in the Albany, a cargo which he sold for twenty times its cost.
When Meiggs arrived in San Francisco in 1849, he, like many others, got into real estate speculation. In Meiggs' case, he promoted the possibility of piers along the north shore area, on the grounds that it was closer to the Golden Gate
than the usual harbor, located just south of Broadway Street on the shore of what is today downtown San Francisco. Today, the site of Meiggs' Wharf, in its day a marvel extending two thousand feet into the Bay, is occupied by part of Fisherman's Wharf
, Pier 39
, and Pier 45. To that end, he built warehouses, streets and piers in the area, and constructed sawmills and schooners.
Meiggs became extended financially in trying to do this. In order to make ends meet, he illicitly obtained a book full of warrants on the Street Fund (which had little money in it), which the city's controller and mayor had fallen into the habit of signing by the book in advance. Meiggs forged the remaining information and raised money. He left San Francisco before the fraud was discovered, on October 6, 1854, in the brig
American, heading for South America
. According to his own statement, he landed with only $8,000 (his fraud raised, by some accounts, half a million), lost it immediately, and had to pawn his watch.
Meiggs became a successful railroad builder, building the second railroad in Chile
, between Santiago
and Valparaiso
. He also built many railroads in Peru
, and died in 1877 in Lima, Peru while constructing a railroad in Costa Rica
which was completed by his nephew, Minor C. Keith
. He is said to have been the virtual dictator of Peru by that time, known as "Don Enrique", with interests ranging from silver mines to cleaning up the city of Lima by building a seven-mile-long park.
While his Peruvian contracts were wildly profitable, by 1876, his financial situation had begun to disintegrate. He found it more difficult to obtain credit. His 1877 death only worsened the economic chaos in Peru. He was buried at Presbítero Maestro
cemetery in downtown Lima.
He is said to have paid back every cent he obtained by the warrant fraud, and his other debts, amounting to as much as a million dollars, refusing only to pay back speculators who obtained the warrants at deep discounts. In preparation for his never-to-occur return to San Francisco, he got the State Legislature to pass a bill making it illegal to try him for offenses occurring before 1855. The bill was vetoed by the governor.
In 1977, one hundred years after Meiggs' death, Judge Harry W. Low of the California Superior Court, in San Francisco, granted a motion to quash the indictment against Meiggs stemming from the fraud, on the grounds that Meiggs had rehabilitated himself, and had gone to a Higher Court. This marked the conclusion of a lengthy campaign by Meiggs' supporters to clear him.
Meiggs is credited with founding the town of Meiggsville, later renamed Mendocino
.
Catskill (town), New York
Catskill is a town in the southeast part of Greene County, New York, United States. The population was 11,775 at the 2010 census. The western part of the town is in the Catskill Park....
. He came to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
in 1835 and began a lumber business, but was ruined by the Panic of 1837
Panic of 1837
The Panic of 1837 was a financial crisis or market correction in the United States built on a speculative fever. The end of the Second Bank of the United States had produced a period of runaway inflation, but on May 10, 1837 in New York City, every bank began to accept payment only in specie ,...
. He restarted his business, this time in Brooklyn
Brooklyn
Brooklyn is the most populous of New York City's five boroughs, with nearly 2.6 million residents, and the second-largest in area. Since 1896, Brooklyn has had the same boundaries as Kings County, which is now the most populous county in New York State and the second-most densely populated...
, but again met with failure. Finding success in sending lumber to the Pacific Coast, he finally relocated to San Francisco after the discovery of gold
California Gold Rush
The California Gold Rush began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The first to hear confirmed information of the gold rush were the people in Oregon, the Sandwich Islands , and Latin America, who were the first to start flocking to...
by taking a cargo of lumber there in the Albany, a cargo which he sold for twenty times its cost.
When Meiggs arrived in San Francisco in 1849, he, like many others, got into real estate speculation. In Meiggs' case, he promoted the possibility of piers along the north shore area, on the grounds that it was closer to the Golden Gate
Golden Gate
The Golden Gate is the North American strait connecting San Francisco Bay to the Pacific Ocean. Since 1937 it has been spanned by the Golden Gate Bridge...
than the usual harbor, located just south of Broadway Street on the shore of what is today downtown San Francisco. Today, the site of Meiggs' Wharf, in its day a marvel extending two thousand feet into the Bay, is occupied by part of Fisherman's Wharf
Fisherman's Wharf, San Francisco, California
Fisherman's Wharf is a neighborhood and popular tourist attraction in San Francisco, California. It roughly encompasses the northern waterfront area of San Francisco from Ghirardelli Square or Van Ness Avenue east to Pier 35 or Kearny Street...
, Pier 39
Pier 39
Pier 39 is a shopping center and popular tourist attraction built on a pier in San Francisco, California. At Pier 39, there are shops, restaurants, a video arcade, street performances, an interpretive center for the Marine Mammal Center, the Aquarium of the Bay, virtual 3D rides, and views of...
, and Pier 45. To that end, he built warehouses, streets and piers in the area, and constructed sawmills and schooners.
Meiggs became extended financially in trying to do this. In order to make ends meet, he illicitly obtained a book full of warrants on the Street Fund (which had little money in it), which the city's controller and mayor had fallen into the habit of signing by the book in advance. Meiggs forged the remaining information and raised money. He left San Francisco before the fraud was discovered, on October 6, 1854, in the brig
Brig
A brig is a sailing vessel with two square-rigged masts. During the Age of Sail, brigs were seen as fast and manoeuvrable and were used as both naval warships and merchant vessels. They were especially popular in the 18th and early 19th centuries...
American, heading for South America
South America
South America is a continent situated in the Western Hemisphere, mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere. The continent is also considered a subcontinent of the Americas. It is bordered on the west by the Pacific Ocean and on the north and east...
. According to his own statement, he landed with only $8,000 (his fraud raised, by some accounts, half a million), lost it immediately, and had to pawn his watch.
Meiggs became a successful railroad builder, building the second railroad in Chile
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
, between Santiago
Santiago, Chile
Santiago , also known as Santiago de Chile, is the capital and largest city of Chile, and the center of its largest conurbation . It is located in the country's central valley, at an elevation of above mean sea level...
and Valparaiso
Valparaíso
Valparaíso is a city and commune of Chile, center of its third largest conurbation and one of the country's most important seaports and an increasing cultural center in the Southwest Pacific hemisphere. The city is the capital of the Valparaíso Province and the Valparaíso Region...
. He also built many railroads in Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
, and died in 1877 in Lima, Peru while constructing a railroad in Costa Rica
Costa Rica
Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....
which was completed by his nephew, Minor C. Keith
Minor C. Keith
Minor Cooper Keith was a U.S. railroad, fruit, and shipping magnate whose business activities had a profound impact in Central America and in Colombia.- Early life :...
. He is said to have been the virtual dictator of Peru by that time, known as "Don Enrique", with interests ranging from silver mines to cleaning up the city of Lima by building a seven-mile-long park.
While his Peruvian contracts were wildly profitable, by 1876, his financial situation had begun to disintegrate. He found it more difficult to obtain credit. His 1877 death only worsened the economic chaos in Peru. He was buried at Presbítero Maestro
Presbitero Maestro
Presbitero Maestro is a cemetery in Lima, the capital city of Peru. It is also a museum, though attempts to make it a museum exclusively have failed. The architectural styles of the mausoleums found within are broad ranging. It houses the remains of several important political, military and...
cemetery in downtown Lima.
He is said to have paid back every cent he obtained by the warrant fraud, and his other debts, amounting to as much as a million dollars, refusing only to pay back speculators who obtained the warrants at deep discounts. In preparation for his never-to-occur return to San Francisco, he got the State Legislature to pass a bill making it illegal to try him for offenses occurring before 1855. The bill was vetoed by the governor.
In 1977, one hundred years after Meiggs' death, Judge Harry W. Low of the California Superior Court, in San Francisco, granted a motion to quash the indictment against Meiggs stemming from the fraud, on the grounds that Meiggs had rehabilitated himself, and had gone to a Higher Court. This marked the conclusion of a lengthy campaign by Meiggs' supporters to clear him.
Meiggs is credited with founding the town of Meiggsville, later renamed Mendocino
Mendocino, California
Mendocino is a census-designated place in Mendocino County, California, United States. Mendocino is located south of Fort Bragg, at an elevation of 154 feet...
.