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A Former Ann Arbor Man In Hard Luck

A Former Ann Arbor Man In Hard Luck image
Parent Issue
Day
15
Month
August
Year
1894
Copyright
Public Domain
OCR Text

Te following from Buffalo to the Chicago Herald, relating to a former citizen of Ann Arbor, will be read with interest by all, and those who knew the subject of the dispatch will regret the blasting of a career of one whose rise and fall, from the zenith of success to the abyss of failure is its own great moral lesson: "Buffalo, Aug. 8.- H. H. Warner, of Rochester, the patent medicine man who made $7,000,000 out of the 'Log Cabin' remedies, which were so extensively advertised everywhere, has returned home from Europe penniless. He left the last of his fortune at Monte Cario. Mr. Warner went to Europe about two months ago. He was supposed at that time to be nearly bankrupt. He had made an assignment for the benefit of his creditors and his beautiful house and observatory had been sold to help meet his indebtedness. His fall had been swift. He began to lose money with the earliest indications of the business depression, and his fortune was soon sliding away from him. Creditors got judgments, and being unable to realize on some of his investments he was helpless to avert the avalanche. When this was nearly over he took a European trip at the advice of his friends. It was his intention to try to float abroad the stock of a companyorganized for the manufacture of beet sugar. In this scheme he associated with him William Cannard, who, in Mr. Warner's days of prosperity, had drawn a salary of $7,000 a year as one of the advertising writers. By arrangement Mr. Warner met Mr. Cannard and Mrs. Cannard in Paris. They planned a pleasure trip to Monte Cario. Mr. Warner could not resist the temptations there and soon lost the ready money he had with him. He secured a loan from Mr. Cannard and lost that playing & system. This left the party somewhat impaired for funds, but Mrs. Cannard stepped into the breach. She is a beautiful young woman who was in Mr. Warner's employ before her marriage', and she had a lot of splendid diamonds, some of which were the gifts of Mr. Warner at and since her marriage, for he was generous to his employés. She went to one of the numerous pawnshops near Monte Cario and pawned her diamonds for 10,000 francs, which she turned over to Mr. Warner to continue his system. Luck came his way, and when he left the bank at the end of his second day's play he had 60,000 francs; although at one time in the game his capital had been reduced to 1,600 francs. He gave an elabórate dinner that night to a few friends, and Mr. and Mrs. Cannard entreated him to go with them to Paris before he lost the money. He refused, saying that his success had proved his system, and next day found him in his seat at the Casino. He played three days and lost every franc. He raised enough money to get to Paris and there met an old friend, a Rochester business man, who gave him enough money to pay his passage home. He left Mr. and Mrs. Cannard in Paris. Mr. Warner has told the story of his play to his friends. He is confident that there are good things in store for him in the future and that he will be rich again.

Article

Subjects
Old News
Ann Arbor Courier