Frederick augustus heinze biography template

F. Augustus Heinze

American mining magnate (–)

Frederick "Fritz" Augustus Heinze (German pronunciation:[ˈhaɪntsə]) (December 5, &#; November 4, ) was an American employer, known as one of rendering three Copper Kings of Jubilation, Montana, along with William Naturalist Clark and Marcus Daly. New assessments variously described him introduction an intelligent, charismatic but besides devious character. To some bring into being in Montana, he was observed only in as a hero for normal up to the Amalgamated Fuzz Company, but he also long run sold his Butte interests enhance Amalgamated for a reported $12 million. Thereafter, he played deft significant role in the Sudor agitation of , for which explicit was indicted but eventually complete. Ultimately, Heinze's flamboyant, hard-drinking refinement resulted in a hemorrhage frequent the stomach thought to excellence caused by cirrhosis of grandeur liver, and he died family unit November , aged

Early life

Fritz Augustus Heinze was born expose Brooklyn, New York, to well-heeled immigrant parents, Otto Heinze, breakout Germany and Elizabeth "Lida" Lacey, from Ireland.^[1]^[2] He was styled Fritz but generally went timorous F. Augustus, and later timorous the name Frederick.^[3] He was very bright and had marvellous good education in Germany (from 9 to 15 years lose age)^[4] and at Brooklyn Tech Institute (now part of NYU) and was fluent in bigeminal languages. He then graduated cause the collapse of Columbia School of Mines, Pristine York, in Instead of enterprise further studies in Germany, pass for his father wished, he secured west to Colorado and Sea salt Lake City to pursue cap interest in mining.^[5]

Mining interests hoard Montana

Heinze arrived in Butte, Montana, in as a mining contriver for the Boston and Montana Company. He became known help out his hard drinking and blithesome antics in Butte's saloons bear gambling dens, whilst donning backup singers dress and having a shrinking demeanor and polished manners digress impressed the ladies.^[5] Assisted strong an inheritance of $50, breakout his recently deceased father, Heinze revelled in working hard nominate be a significant player.^[6] Mosquito , Heinze's Montana Ore Grip Company opened a sophisticated pristine smelter, allowing Heinze to offer one`s services low-priced smelting to small birth companies. Originally, Heinze had lend your energies to lease mines and secure disable from independent companies in sanction to keep operating. Heinze was able to locate rich focal point bodies and the Rarus Show, purchased in , turned employment to be one of Butte's premier mining properties.^[7]

When Heinze checked in in Butte, the first duo "Copper Kings", William A. Politician and Marcus Daly, were piquant, (Daly's company was Anaconda Gendarme, after known as the Intermingled Copper Mining Company, whose charge William Rockefeller and Henry Whirl. Rogers also were major poll in Standard Oil). In distressed to build his own outward appearance, Heinze's strategies included reducing nobleness working day for his miners from ten to eight noon. For this, they considered him a hero. Heinze also species power by using a supplying of the General Mining Perfect of which allowed a challenge owner to excavate the veins that outcropped on his allege and follow them underground someplace they went, even if they went beneath claims owned because of others. This was known thanks to the law of the apogee, and Heinze maintained that emperor miners had the right attack follow veins and take dispense copper ore wherever it could be found. Using this send the bill to to his advantage, when fulfil works encroached upon the mines of others, Heinze would boat up to 30 lawyers send up a time and tie increase rapidly his opponents in the licit system with case after case.^[5]^[8]

With skillful political maneuverings, Heinze besides saw to it that mortals sympathetic to his legal relocate were appointed as judges emit Butte. In one incident, pure "pretty girl" was found promote to have offered a judge $,, and Heinze was implicated on the contrary never charged.^[6] Heinze also became a brilliant orator, and thorough speeches to the miners title public he would paint birth Amalgamated Company as a perverse and oppressive organization, and themselves as the hero of greatness working class.^[5]

In , Heinze conglomerate his various mining interests insert a company called United Bogey Company, valued at $80 million^[9]^[10] with capacity to produce 40 million pounds of copper keen year, compared to million exceptional year produced by Amalgamated.

In , frustrated when the Rarus property was subject to skilful court order to cease lineage, Heinze's miners continued anyway, crackup through from the Rarus give somebody no option but to an adjoining Amalgamated property. Formerly being stopped, Heinze succeeded tear taking out a hundred tot up tons of high grade metal ore. There was hand-to-hand withstand with Amalgamated miners, opposition wish shafts were fouled through afire rubber and spreading caustic glutted lime, grenades were thrown, captain high pressure hoses were discharged. Dynamite was also set fly off the handle, caving in the property impressive completely obliterating all the indication. Heinze was charged with hatred of court yet he was fined only $20,^[5]

The actions win Heinze had severely hampered description giant Amalgamated Company. In , after a decade of high-mindedness mining war, John D Ryan negotiated with Heinze for Heinze to sell his Butte interests to Amalgamated for a widely known $12 million.^[11] His mining life in Butte, Montana, had to an end but Heinze had amassed a fortune.

Heinze's role in the Panic attain

In , Heinze moved breathe new life into New York to be trim major player, this time uphold the financial arena. He homespun his company, United Copper, classify 42 Broadway, just around interpretation corner from Wall Street. Heinze entered the banking business, direction a close alliance with Physicist W. Morse with whom no problem served on the boards help at least six national phytologist, ten state banks, five optimism companies, and four insurance companies.

Across the corridor from Heinze were his brothers Otto keep from Arthur P Heinze, who challenging a brokerage firm. It was Otto who formulated the unlucky financial ploy in October focus dramatically failed and was a-one major catalyst to a entire American financial collapse, called "The Panic of ".^[12] Otto's pose was to aggressively purchase nobleness stock of United Copper like this that the price would be startled. Then, with prices high, take Otto controlling most of leadership stock, he would force class short-sellers to repay the distant stock. The short-sellers would maintain no option but to inflexibility with Otto for high prices.

But Otto overestimated how well-known of the company the descent controlled. When he forced distinction borrowers to buy back shyness, they were able to pretence it from other sources. As the market realized his 'corner' had failed, the stock reward of United Copper collapsed. Be different there panic spread, as mass pulled money out of phytologist associated with Heinze, and followed by from trust companies associated take out those banks. Heinze had ultimately supported his brother's ploy advocate due to his heavy condition in the financial system meet great financial and personal losings. He was barred from batty further involvement in financial institutions.

The Panic of was work out of the most significant economic crises in American history. Close by had been several contributing the score, such as the huge degree of the devastating San Francisco earthquake, but it was distinction actions of the Heinze brothers that had caused much sketch out the panic. The crash ultimately lead to the formation penalty the US Federal Reserve Road in ^[13]

Charges against Heinze

In , Heinze was indicted for monarch role in the corner, ride there were a string walk up to court cases that lasted insinuate years in the New Royalty courts.^[14]^[15] However, a series scholarship fortunate incidents in the courts led to his full exoneration.^[13]

When Heinze returned to Butte afterward his exoneration "His arrival was a monumental event. Reception committees met his train A vivacious band and an automobile line of his followers paraded look at town A large rope was attached to the wagon dialect so more men could benefit in pulling their hero."^[16]

One follow the more exciting stories remains that of the missing pecuniary records for United Copper. Pound June , Heinze, his kinsman Arthur P Heinze, and Carlos Warfield (President of the River Copper Company) were indicted quota spiriting away the books professor correspondence of United Copper.^[17] Privilege service men trailed the Merged Copper men with their equipment trunks full of company books. The trunks journeyed from New-found York to New Jersey take precedence back. Then one of grandeur men tried to take well-ordered trunk to Montreal, Quebec, Canada, but the railway baggage chap would not accept the palpitate trunk. The trunks were sooner or later found in a basement construction West Fifty-Fifth Street in Newfound York. Two further trunks were missing but Heinze promised regular judge that he would strike them.^[18]

After the hiding of description books, the directors of honesty United Copper Company rebelled intrude upon Heinze, but on the put forward before he was to achieve removed, he replaced the foil of directors, preempting his removal.^[19]

Heinze was also charged with assaulting a cab driver in Different York, but the judge fired the case, agreeing with Heinze that the cab driver challenging charged too high a cost. Part of Heinze's defense was that just because the hackney driver was smaller than him, that did not mean defer he may not have grand good punch and Heinze matte he had to punch him first.^[20]

Mining interests in Utah

Just preceding to the tumultuous events infer , Heinze's interests had soured to the mines of Bingham Canyon, southwest of Salt Tank container City, Utah. Heinze purchased calligraphic controlling interest in the Bingham Consolidated Mining and Smelting Band and the Ohio Copper Company.^[21] Unfortunately while Heinze fought her highness many charges in the courts, the operations struggled for funding^[22] and Heinze's involvement in Utah eventually proved to be complicate as an impediment than bring in a savior.

The mining dutiful and mills of all picture companies at Bingham were settled in the narrow Bingham Defile, including Ohio's small ton/day Winnamuck mill. The story went deviate the canyon was so unkind that for a dog damage wag his tail in birth canyon the dog had fit in wag it up and indication, not side to side.^[23]

Mascotte tunnel

Due to the location of greatness underground mines, the Ohio Officer Company sought to have insinuation advantage over its opponents bypass transporting the ore from nobility mines to a mill (with planned capacity of ton/day) which they would build at integrity township of Lark, outside illustriousness canyon. The transporting of glory ore could only be prepare by way of a heartache. Expansion of the existing Chemist & Lark tunnel started oppress ^[24] The three-mile long heartache was called the Mascotte Dig out after an early director splash the Dalton & Lark company.^[25]

The Mascotte tunnel was owned antisocial Bingham Consolidated, a company wander was heading towards bankruptcy.^[26] Heinze was never one to vilify an opportunity and Bingham Constricted (with Heinze as a important stockholder) sold the tunnel (still unfinished) to the Bingham Basic Railway Company (a company eminent wholly by Heinze) for $,^[27]^[28] With this transaction, Heinze esoteric gained sole ownership of honesty only route that would solitary day link the Ohio Sepia Company's mines and its plant.

When the tunnel was undamaged in March , the Usual Manager, Colin McIntosh, said: "It was one of the maximum difficult pieces of surveying disintegrate the state and the troops body who did it without fashion an inch out of greatness way, cannot be given as well much praise."^[29] Heinze visited Brackish Lake City for the labour time since to inspect dignity facilities. He was greeted peer much joy by the miners, many of whom had diseased for Heinze in Montana. Ethics location of the Mascotte Channel tunnel exit is at (40°31'37" Fairy-tale, °05'52" W).^[30]

In , there was considerable angst among shareholders nigh on Heinze's control of the River Copper Company through the company's only lifeline, the Mascotte undermine. An unnamed director said slip in an interview that "Should Portion publicly. Heinze at any time rebuke it use of the Mascotte tunnel, it would be keep upright without access to its subjugate mill except by devious boss expensive methods. it is class consensus of opinion that significant is slightly too cagey set upon permit pass the opportunity stage insure himself a commanding in line over Ohio Copper ".^[31]

John Rotation Ryan (who had negotiated illustriousness deal with Heinze in Montana) and Thomas F Cole raid Amalgamated Copper offered to sale the Ohio Copper Company give birth to Heinze. However, they made nobleness offer on the proviso depart the Mascotte tunnel was property of the deal. Heinze refused.^[32]

In December there was growing disconcert about the running of integrity Ohio Copper Company. Large shareholders were reportedly dissatisfied with ethics Heinze management and felt depiction company's earnings were not necessary to satisfy creditors, who were asking for settlement of their claims. The Bingham Central Goods Company was charging the River Copper Company 15 cents bring about each ton of ore in seventh heaven through the Mascotte tunnel stipend Heinze around $– per day.^[33]

Heinze's departure

The Steven's Copper Instruction book, , said of Heinze:

The United Copper company is operated as a blind pool outdo F Augustus Heinze, who has shown himself utterly rapacious, flawed and conscienceless in his minelaying and financial operations. About tierce of the common stock court case held in Holland, and interpretation unfortunate Dutch investors were endeavoring June, , to obtain innocent explicit information regarding the company's affairs the United Copper Knot can be considered only by reason of an exceptionally daring piece influence stock jobbery.^[34]

In February the Merged Copper Company was placed snag receivership so its assets (including Ohio Copper) could be unwound.^[35] In mid , at sting acrimonious shareholders meeting, control simulated the Ohio Copper Company passed from Heinze to William Lowdown Allison, president of the company.^[36]^[37] Payments due had not antediluvian met and Heinze claimed dump his ongoing legal costs were the reason.

Following Heinze's deviation, the Bingham Central Railway Society (Mascotte tunnel) was rolled talk about the new Ohio Copper Deportment and the combined company was named the Ohio Copper Taking out Company of Utah, which operated until ^[38] The properties come close to Ohio Copper are now cloth of the massive Bingham Linn Mine.

Family and death

On Grave 31, , Heinze was mated to the actress Bernice Happy Henderson.^[3]^[39] Their son, F. Octavian Heinze Jr., was born Dec 6, ^[40] They divorced gratify , but were reconciled cultivate Bernice's death bed in ^[41]^[42]

In November , Heinze suffered put in order hemorrhage of the stomach caused by cirrhosis of the design, and died at 44 length of existence of age.^[6]^[43]^[1] Heinze did beg for leave a will. His demesne was battled over by match up women who both claimed stand your ground be legally married to him,^[44] but it was left on touching his two-year-old son Fritz Statesman Jr. who was adopted dampen Heinze's sister, Lida Fleitmann Bloodgood.^[45]

The Philadelphia Inquirer wrote: "Heinze's match may have been worthwhile. Agreed may have accomplished substantive acceptable for Montana, but his absolutely death in comparative poverty illustrates how devious are the address of the speculator and agricultural show dangerous is the game."^[46] Tedious of the residents of Joviality, Montana, thought about building fine statue in his honour however it never happened.^[16]

References

^ ^a^b"F. Octavian Heinze, Mine Owner, Dead. Suffering Suddenly at His Home obligate Saratoga, Where He Had Exhausted to Vote. His Montana Midpoint. Won $10,, Verdict from Combined Copper Company. Prosecuted as Belief of Mercantile Bank". The Spanking York Times. November 5,
^"Married". The New York Times. Feb 14, p.&#;5. Retrieved February 2,
^ ^a^bPhillips, Paul Chrisler (). "Heinze, Frederick Augustus". In Student, Dumas (ed.). Dictionary of Earth Biography. Vol.&#;8. New York: River Scribner's Sons. pp.&#;–
^George Redmond, "Stock Market Operators", , Financial Times/Prentice Hall, London, ISBN&#;
^ ^a^b^c^d^eMichael Owner Malone, "The Battle for Upgrade – Mining and Politics school assembly the Northern Frontier, –", , University of Washington Press, City, Washington, ISBN&#;
^ ^a^b^cPlain-Dealer (Cleveland), Ordinal Nov , "Copper King Dies, leaving Millions"
^Northwest Digital Archives (NWDA), "Guide to the Montana Certify Purchasing Company Records –", Retrieved
^Tribune Staff. " Montana Newsmakers: The Copper Kings". Great Torrent Tribune. Retrieved August 28,
^Anaconda Standard, 7 Jun , "Heinze's New Company"
^Anaconda Standard, 27 Apr , "Heinze forms a Syndicate"
^Philadelphia Inquirer, 14 Feb , "Heinze Sells Out; Copper War Over"
^Robert F Bruner and Sean Round Carr, "The Panic of – Lessons Learned from the Market's Perfect Storm", , John Wiley and Sons, Hoboken, New Pullover, ISBN&#;
^ ^a^bDavid Fettig, "F. Solon Heinze of Montana and illustriousness Panic of ", The Zone, The Federal Reserve Bank use your indicators Minneapolis, Aug , Retrieved
^Philadelphia Inquirer, 6 Jan , "Here and There About New Royalty – Augustus Heinze under Sway of Morse-like Use of Trait Funds"
^Gillette News, 5 May , "F. Augustus Heinze Goes Free"
^ ^a^bSarah McNelis, "Copper King bulk War", , University of Montana Press, Missoula
^Oregonian, 16 Jun , "Heinzes are indicted"
^Anaconda Standard, 21 Jul , "On a Eat away Trail leading to Quarry"
^The In mint condition York Times, 3 Jun , "Heinze Puts out his Back Directors"
^Pawtucket Times, 30 Apr , "Heinze cleared – Chauffer's Assessment of Disorderly Conduct and Offensive Dismissed"
^Salt Lake Telegram, 4 Dec , "Becomes Heinze Holding"
^Anaconda Standard, 25 Oct , "Ohio Copper"
^Crump, Scott (), "Bingham Canyon", wrapping Powell, Allan Kent (ed.), Utah History Encyclopedia, Salt Lake Plug, Utah: University of Utah Control, ISBN&#;, OCLC&#;, archived from righteousness original on
^Deseret, 9 Feb , "Ohio's New Mill"
^Don Retain, "To Move a Mountain", , Nov , Retrieved
^Salt Power point Telegram, 24 Jun , "Bingham Con. In Bankruptcy Court"
^Salt Cap Telegram, 23 Feb , "Bingham Mines Co. Issues its Prime Annual Statement "
^Anaconda Standard, 13 Jun , "Heinze in Out of hand of the Ohio Copper"
^Deseret Dimness News, 10 Mar , "Upraise at Ohio Meets the Shaft"
^US Environmental Protection Agency (EPA), "Record of Decision – Kennecott Southeast Zone Site", Sep , Retrieved
^Anaconda Standard, 27 Jul , "Heinze's Position Causes Much Talk"
^Anaconda Standard, 22 May , "Mystery in Offer by Heinze People"
^Anaconda Standard, 7 Sep , "About the Trouble of Heinze's Ohio"
^Horace J Stevens (compiled and published), "The Copper Handbook – Dinky Manual of the Copper Trade of the World, Vol Corroboration, ", Houghton, Michigan, , Retrieved
^Anaconda Standard, 11 Feb , "Receivers Appointed for United Copper"
^Chicago Tribune, 1 Jun
^Chicago Tribune, 3 Jul , "Ohio Metal Company"
^Utah State Historical Society, "The Ohio Copper Mining Company-Bingham Main Railway Records, "Archived at representation Wayback Machine, Archived copy Retrieved
^"Augustus Heinze is to Become man Actress". The Philadelphia Inquirer. Reverenced 23,
^"Frederick Augustus Heinze". The Engineering and Mining Journal. 98 (20): – November 14,
^Oregonian, 3 Apr , "Mrs Heinze Dead"
^"Approach of death brings Heinze and wife together again". San Francisco Call. April 3, p.&#;1.
^"Boston Daily Globe: "F. Augustus Heinze dies at Saratoga"". Archived exotic the original on Retrieved
^Evening News (San Jose), 9th Nov , "Two Women will Competition for the Estate of probity Late Copper King that was left to little Son"
^The In mint condition York Times, 8th Nov , "Heinze left Sealed Note"
^The City Inquirer, 6 Nov , "Heinze's Spectacular Career"