The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-05


as good position as he always has occupied. II
may not DE immediately, for 1t takes some time To
get over the severe check he has received, but he
win eventually rise above all this and reconquer
MS original prosperity
oo And You think he will remain President OF the
ION, yes; why not They could not have a
better man. Here again came in the rumors about
me; 1t has been said that should take NJ STOCK.
weiPs place, and would De the next President Oh
the Pacihc Mail steamship Company; but TINS is
Just as untrue as the other rumors. II ! were
oHereu the position 1 should not accept IL. NO
amount OF money could induce me TO accept the
nhest position at the head OF the finest company ON
tiv tive H1mnent snail never tase another ,execu.
OUTSIDE OF such places. When had such position
IL was nothing but trouble and war, Now i am Left
CAN LEARN THE SECRETS,
which people willingly tell me- where they wouldn't
se me tning mad an executive position Now,
otocKweli mas always been very successful man,
anu ne Is at the head OF company which think,
instead OF trying to pull down. every American
ougnt 10 support. 1t Is the only American line
on the ocean, and, t0.a great extent, the honor
OF the coantry Is concerned in seeing 1t pros
seems to be uniting to pull 1t down. with its Pres-
dent. But the Pacific Mail Company il O rich one.
and VIII not be affected by these things to any Sc
riOus extent. Look at its business. Why every
snip that leaves the other side brings over twelve
or fourteen hundred people. They have besides,
an immense freight, and money is pouring into its
Golfers all the time Them lis now building several
new steamers. which. will alone save one-half in
chow Will that bes" asked the reporter, in some
"Why, these new boats are not built on the old
plan, you know. They are prOpeers, and con-
structed on plan which will be an immense saw
ing to the company. The Old side-wheel steamers
VIII be gradually done away with, as being too ex-
pensive and not up to the times But the mere
TACT OF building steamers at this rate alone shows
that the company Is alive and doing well. This
IMPRESSION then, that the concern Is in bad way,
ought to be destroyed"
''i,ut it Is said" reoined the reporter, .'and Mr..
Stockwell himself says, that the loans made by the
a nf a
Now that the stock has gone down fifty, Is not the
company the sufferer to great extent ~
twenty per cent Is the regular margin, and you
must remember that the company did not lend
money simply on its own stock. On the contrary
the company has
LOANS OUT ALL OVER THE STREET
on all kinds OF securities, all OF which are undoubt-
edly perfectly good, so that have idea that the
company suffered at all In this way. The amount
OF loans 1t has out Is to certain extent ndica
ton of how plentiiully they are provided with
money. This Is another matter which has been
tortured into something which was against Mr.
StOckwell, whereas the whole transaction is per-
iectly regular, and cannot affect him one way or
.'But with all this, Mr.. Could what is the cause
OF the stock gong down in the manner 1t has. YOU
presume, can give lucid explanation OF what ap-
'There is nothing in this but what Is perfectly
NATURAL" went on MIR. Gould. 'There are holders
OF this stock all over the cOuntry-peope who ill.,
vested in 1t not Tor speculative purposes but for
steady investment. When several outside causes
brought the stock down gradually twenty per cent
and sent their stock to market, and OF course its
coming in this way with such a rush, they being all
sellers and no buyers, why very naturally down it
goes suddenly; and thus the panic happens.
There ii no more mysterious reason for it than
this. When people are all sellers and no buyers a
stock goes down to fictitious lOwness which Is
not It's proper prlce. But you may take my word
for 1t That within twelve months, and perhaps
less the stock OF the Pacific Mail Company will
have gone up to par again, because the stock Is
really worth par and there Is no proper cause for
its being below. This win be matter OF time, Of
course. The bad impression Of the panic it will
take some time to overcome; but time will do 1t,
most surelYn
"YOu then. personally, Mr.. Gould, have had moth
ing TO- do with this panic and are not responsible,
as all the rumOrs make your asked the reporter.
"Oh dear no. l have not been down on the
street for two months. Here remain in the house
and devote myself to
LOOKING OVER MY LIBRARY.
l have grown somewhat rusty on reading during
the past few years. Tor have been SO busy, but l
am making up for lost time. absolutely do moth
ing but while away the days in this way. am tired
OF excitement and speculation and take no interest
in outside matters, except just reading the papers,
and now and then receiving the visits OF a few
friends, who post me as to what Is going on. Peo-
pie Will always have me at the bottom OF all that Is
house. Here am to be found from morning till
night and from night till morning."
"YOu are then, entirely out OF Wall street?"
asked the reporter, with some little establishment.
YES" answered Mr.. Could "entirely. AS have
said, take sufficient interest in worldly affairs to
shows the pluck he does, and would do all could
to help him out oil difficulty"
AT this moment the dinner bell rang, and Mr.. Jay
Gould, bidding goOdby to the reporter, went down
to the dining room with the haste OF man who en-
joys good appetite and an excellent digestion.