The Grange advance. [volume] (Red Wing, Minn.) 1873-1877, 1875-04-27

road, of which it was the only outlet,
had become one of the most enormous
private corporations in the world, owned
BY five or six men, who earned on it six
per cent. per annum, or three millions
and half of dollars year. Gould saw
that while all the East was depressed by
over-production and the decline of values,
California was producing the precious
metals in unexampled amounts, and that
on the rise of mining stocks personal
fortunes were made in day compared to
which Wall street leadership was mere
marble nlaying. Foreign capital is masscd
at San Francisco to take advantage of the
romantic investments there; the agricul.
tural resources of the State are steadily
growing better, and it has come to be
prevalent superstition that the Califor-
mans are the best financiers in. the coun-
try and that their contest against the
greenbacks saved them many of the evil
results Of the rebellion at this moment.
/: Jay Gould had his Imagination aroused
by this condition of things on q far dis.
tant coast. He probably saw that The
Central Pacific railroad was vulnerable
to attack, having SO excited the Califor.
mia peolpe by its exactions and despotic
spirit that the last election for Governor
was made solely on the railroad issue, and
the company beaten before the people by
Newton Booth who also came to the
United States Senate to start an investi-
cation into the Central Pacific's affairs,
which are generally supposed to be as
crooked as the Union Pacifc's under
Cakes Ames and Jim Brooks. The Cen.
k.n1 g. - L. ~ l. L.
rivalry with the Pacific Mail steamship
company. had threatened to extinguish
(competition by taking the China trade
from the steamship line through line of
British vessels. The Pacific Mail COM.
pany was also very decrepit, having lost
the majority Of its steamers, and selling
low on the stock list. Gould knew that
this company and both the Union and
Central Pa ;itic railroads had law SUITS
and debts with the government, and his
personal acquaintance with congressman
and Senator'S had taught him that while
those suits might depress the stock, they
could be compounded and compromised by
little money manipulation at the seat of
governerment. Gould is moral infidel-~
a phrase which seems to excite one of
your Philadelphia preachers who knows
| all about a newspaper. am afraid that
the clergyman in question was chiefly an
noyed oy my unkind allusion to Dan
Drew, who was sketched as persimmon-
faced hypocrite. who carries his religion
on margins. Jay Gould was described
| to me by General Jones, Register Of New
York city, as follows. "Jay Gould, like
any man who has seen the hardness of
the world. is moral infidel. That is, he
is a man Of good habits, good to his
family and without domestic scandal; but
he has no faith in men, and delights in
getting under them and hosting them"
If Jay Gould does nothing better in his
way than Kidding the street Of old Drew,
he will be admired as much as if he had
endowed Theological seminary on such
an example as his business honor. Gould
was leader in the street again alter the
Ceedit Mobilier exposure. He combined
capital and incessant application.
Jay Goul'l's residence is opposite the
Windsor Hotel, on Fifth avenue. Car.
riages can be seen at the curb almost any
hour Of the morning, until 2 o'clock, at
which hour Gould dimes punctual]y with
his wife and interesting family Of chill.
dren. After dinner he drives in the
Park, alone or with his wife, and at night
is apt to walk down as far as the Fifth
Avenue Hotel. Every day Of his life is a
distinct battle in stocks. Brokers, three
or four in number, call on him at 9
oclock, confer and take his orders. FIRE.
quently they are placed in different 1ooms,
as arc callers, so as not to observe each
other, and confer. His Office is in the
basement. Four firms Of brokers are
known to make his transactions. A tele-
graph instrument in his office begins to
record the news and carry adv;ces to his
brokers from to 2 o'clock. He is par
simonious, but will pay literally for in
formation on which he can speculate. In
the railway and navigation or mining
offices of the speculative stocks, Gould is
believed to have confidential men who
send him the monthly business account
before it is footed up or announced to the
directors. He goes long or short Of the
stock accordingly. He is at present using
the national propensity for Investigations
to further his movements against rich
but dishonest corporations. He is him
self good and rapid composer, with =
vein of sarcasm in his style, and he has
not remarked in vain the latter influence
of the press to disturb doubtfully &C.
quired corporate property. He
freely receives and converses with
newspaper men, and his money is in the
press. He is the first operator since
Leonard Jerome, who used the New York
Herald, in 1857, to ''bear' Michigan
Southern, who has acquired the stock
columns in bulk He is only thirty-eight
years Of age. A. w. Morse was worth
three millions at thirty-one; A. W. Dim
/ mock had million at eighteen: SAM