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Updated: May 7, 2025
Meiggs invited me to go with him to a rich mercantile house on Clay Street, whose partners belonged in Hamburg, and there, in the presence of the principals of the house, he demonstrated, as clearly as a proposition in mathematics, that his business at Mendocino was based on calculations that could not fail.
The three acceptances duly matured and were paid; one morning Meiggs and family were missing, and it was discovered they had embarked in a sailing-vessel for South America. This was the beginning of a series of failures in San Francisco, that extended through the next two years.
On looking over our bills receivable, then about six hundred thousand dollars, I found Meiggs, as principal or indorser, owed us about eighty thousand dollars all, however, secured by city warrants; still, he kept bank accounts elsewhere, and was generally a borrower.
The Quickstep crossed out next morning, and Mr. Skinner wirelessed her master this message: Your timidity has spoiled San Pedro passenger business. Drop Eureka passengers at Meiggs Wharf and continue your voyage. Now it does not please any mariner to be told that he is timid, and, while Matt Peasley made no reply, nevertheless, he chalked up a black mark against Mr.
I took possession of Meiggs's dwelling-house and other property for which I held his mortgage, and in the city warrants thought I had an overplus; but it transpired that Meiggs, being in the City Council, had issued various quantities of street scrip, which was adjudged a forgery, though, beyond doubt, most of it, if not all, was properly signed, but fraudulently issued.
Meiggs invited me to go with him to a rich mercantile house on Clay Street, whose partners belonged in Hamburg, and there, in the presence of the principals of the house, he demonstrated, as clearly as a proposition in mathematics, that his business at Mendocino was based on calculations that could not fail.
William Blending, Esq., had rented my house on Harrison Street; so I occupied a room in the bank, No. 11, and boarded at the Meiggs House, corner of Broadway and Montgomery, which we owned. Having reduced expenses to a minimum, I proceeded, with all possible dispatch, to collect outstanding debts, in some instances making sacrifices and compromises.
"Starboard a little! Steady-y-y! Keep her as she heads," Gibney warned and cast off the jib halyards. The jibs slid down the stays, hanging as they fell. They were well up toward Meiggs wharf now and it devolved upon Mr. Gibney to bring his prize in on the quarantine ground and let go his port anchor. Fortunately, the anchor was already cock-billed. Mr.
In a short time things in San Francisco resumed their wonted course, and we generally laughed at the escapade of Meiggs, and the cursing of his deluded creditors. Shortly after our arrival in San Francisco, I rented of a Mr.
As soon as it was known that Meiggs had fled, the town was full of rumors, and everybody was running to and fro to secure his money. His debts amounted to nearly a million dollars. The Hamburg house which, had been humbugged, were heavy losers and failed, I think.
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