Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1873-09-25
Kings o: Wall street.

OF the genuine rulers OF the street, men
whom th" weaker and less moneyed class
tacitlv acknowledged kings of the gold and
stock market. there have been since 1910
nearly score. showing how brief was
their lease of power. aud how uncertain
their hold upon fortune. some OF them
held proud pre-emincucc in the street but
for a few months, and then went down in
utter lrremediablc ruin. dragging with them
hundreds who had implicitly believed in
and blindly followed then. In the glare OF
the exploits of Fisk, Gould. Stockwell aud
Vanderbilt. the fame OF the giant, OF the
street OF fifteen aud twenty years ago Is
hardly remembered. The career OF An
thony W. Morse, rs dazAlingly dishonest
and brilliant A. that OF Fisk itself has
passed from the memory OF The many, al
though his dealings covered one OF the
most important periods in our history
during 1863 and lsoi-and at tunes Affected
even the policy of the National Govern
ment- Morse was hardly more than TWEEN
~ years OF age when b" first entered Wall
stfcet, ID the former year. He was mar
RED to >hrewd. cool-headed woman, with
few spare thousand dollars. This was
the uest-cgs which. In less than a year was
turned into almost a many millions Iii.
every act was watched by spectators, who
bought when he bought, aLd sold when he
sold He was the barometer As well "a the
k.ng of the street But his time came at
la I. and, after n reign of less than year.
ne was hurled from his position by panic
oil his own creating. A year later he died
in second-class New York boarding-
debt. which was paid by a former business
friend. The life OF John NJ. Tobin was an
almost similar instance OF the fluctuations
OF fortune. lie was for time the accred-
tied agent OF Vanderbilt, aud during the
famous Harlem corner in 1854 made haul
of over 81, 100000. In 1869 he fell, never
to rise again. and is now living in very
humble circumstances, and with n totally
broken-down constitution in one OF the
poorer suburbs Of New York. For six
years, from 1861 to I56. Leonard W. Je-
rome was a power in the street, and dispu-
ted dominion with the two or three rivals
who dared 20 aspire 10 the sovereignty of
the gold market. The wheel came full
circle" In 1867, and Jerome went down.
His brother. Addison Jerome, came into
the stock market in 1868, under the wing
OF his relative. AID after a lucky venture
for nine months was the leading figure of
the Public Board. Ill, f.dl was n sudden
as his rise. and death came close upon the
heels of his losses.
require more than ali allusion. IT wa
snort. hut criminally brilliant. His first
success was in the sumer lS6S, when he
formed part Of the combination of Drew
Gould aud Fisk. for the purpose Of depre
ciating Erie stock for a rise. How il re- |
suited all financial men know. Drew be- |
trayed his trust, and was financially PUP |
ished TO the amount of 81 700 600. Nor
Vaccinations were attempted, with Goul |
as the directing spirit. and Black Frids |
was the result. That day has passed ind |
history AS the happening of the greatet |
local financial crisis thathas ever occurrd |
in this country. 1t was brought about y |
the foule,t and iaost disgraceful mead.
and for days after the erase neither OF tie /
guiltyparties dared venture upon the strel.
Had they Appeared ia their accustomd
haunts the following day, Fisk would OF
have had to wait Tor Stokes bullet, nd |
Gould would have been quietly put to
sleep with his fathers. OF all the men D
on the street to-day. Jay Gould probsiy
possesses characteristics more completely
mercenary than any other. Unlike may
Of his kind. who are apparently indiffemt
Ia the ruin they bring upon Others Gdld
seems to enjoy the breaking up of fortues
and the wreck OF private prosperity. or
live year, past he has steadily accumuted
property. and. o-day, must be wort at
least sl0.000.O00. In 1871, after he vas
deposed from the office of Presdeue of
the Erie Railroad he was made to rand
| $4,000. 900 which lie had stolen, but l. Tree
months he nearly covered his lUssei 1t
seems impossible that such a fortune ,uld
ever be dissipated, but three years rom
now may see Gould a beggar. and poical
justice would seem TO demand such :on-
summation.
The newest man upon the street is lden
! Il. StOckwell. He made his appezrase in
1871. in Wall Street. with q heavy Qitai
on which to begin operations, and so be-
came famous. He was already Prudent
Of the Howe Sewing Machine COrnny,
which corporation afterwards endorl his
paper to the amount o! over $1,000.
Within year he became President two
more sewing machine companies twill
cox & Gibbs aud the A. b. Howe. FRESH
dent OF two railway companies Id
steamship corporation. During II past
year his losses have been immense, I'd al
though still operating, ne IS noinger
looked to as ''power." Such aIeOme
OF the men OF Wall street who havjrOwn
rich from defrauding their feIlos and
who, mostly, have paid the legitiue pen
atty for their deeds.