Other concerns in which Mr. Williams has had large interests are the Missouri, Kansas & Texas Railway Company and the United States Casualty Company, of which he was a Director, and the Postal Telegraph Cable Company of Texas, of which he is President, now a part of the system of the American Telegraph and Telephone Company.
For some years H. W. Williams & Co. has maintained an office in Boston. It has dealt exclusively in bonds, bidding for local, as well as Massachusetts State, and city issues. The last issue in which the Boston branch figured was that of the United States Envelop Company of Worcester, Mass., which issued $2,000,000 worth a couple of months ago. The firm has also invested heavily in American Telephone Company and Atlanta, Birmingham & Atlantic Railroad bonds. Boston bankers do not consider that the failure will have any important effect on other houses.
Outside of financial circles Mr. Williams occupied an important position in society and was an art lover. His house at Tuxedo Park has been known as one of the finest examples of modern country residences. His town house, 1 Lexington Avenue, facing Gramercy Park and exactly opposite to the residence of the late Stanford White, one of his warm friends, has been renowned for its rich and artistic decorations.
Mr. Williams was a liberal supporter of music, and helped many students to follow their profession. He is, however, best known as a book collector. For years he spent large sums on rare editions and fine bindings. He brought together a library with hardly an equal in America. Among his special treasures were a first edition of Thomas à Kempis’s “Imitatio Christi,” Higden’s “Polychronicon,” and some rare Americana. His collection was estimated as worth between $200,000 and $300,000.
A few months ago it was announced that this library was to be sold at auction. It was the first intimation to the world at large that Mr. Williams was in financial difficulties. The sale began on Nov. 12, and the first day’s offerings brought in $19,000. Some of the leading book collectors of the country, such as J. Pierpont Morgan and Senator Henry C. Lodge, sent representatives, and by the time the first two sections had been disposed of $75,000 was realized. It is understood that the three other sections are still more valuable.