Young Keene's Period of Poverty.
The period that followed was one of poverty for Keene, and for two years he fought through it, working at whatever he could find to do, but all the time intent on getting back to the exchange. Finally, his creditors allowed him to join the Mining Exchange, and his knowledge of mining properties soon put him at the head of the mining stockbrokers.
Keene won his success as a broker through his painstaking study of the property in which he invested either for himself or for others, and through the amazing courage he evinced in taking a chance on properties in which he believed.
"Keene's too blamed conscientious," said one of his fellow-brokers. "Why, he's taken a week to look over some Idaho property, and he could just as well have handled the investments even if there wasn't a sign of metal there. He wouldn't lose anything."
That was not Keene's way. He was not in the game to make a little and risk nothing. He was willing to risk everything in order to make a big killing, and usually the campaigns that looked like wild and reckless gambles were backed by good, solid knowledge, gained after examination of the value of the property involved.
Keene's clients liked such methods, and they came to him in such numbers that in a short time he forced his way to the leading position among the San Francisco brokers, and as an operator on his own account he easily distanced all the others both in daring and in winnings.
Thirty years ago he had a fortune of six million dollars, and he started for Europe, but stopped off in New York to sell railroad shares short, for what he had seen on his trip East convinced him that there would be a break. His first deal netted him two hundred thousand dollars, and he threw up all thoughts of a European trip.
There was a story current at the time that Keene had all his wealth turned into gold, and the gold was done up in neat little parcels. With this, so he was credited with saying, he intended to wipe Jay Gould off the financial map. This story, however, is not true. It was Keene's intention to take a little flier, gain a little spending money, and continue on his way to Europe for rest.
But Wall Street fascinated him. Everything there was done upon such a lavish scale that it just suited him. So instead of taking a vacation he plunged into the market, and his winnings at first were enormous. During the next two years he cleared nine million dollars. Then he went into a wheat corner, and before he got out again he was squeezed dry, and a million and a half in debt.