Helena weekly herald. [volume] (Helena, Mont.) 1867-1900, 1875-08-05
JAY GOULD.
The Stock King of Wall Street.

The Stock Hing Of Wall Street.
This man is now the Wall street king,
position for which he has been struggling
ever since the last panic. He has come up
gradually, and bis position could not be said
to be really won until the recent grand ad-
vance in Union Pacific. Gould is now pas:
sixty, and in the fullness of his power. He
commenced business in life as a leather dealer
in the swamp, and had he remained there
would have reached large wealth. Such was
the extent of his leather operations that q
tanning village in the forest regions near the
Erie Road bore the name of Gouldsboro. But
tanning was too slow for his ambition. Asa
traveller to and fro from Gouldsboro his at
tention was turned toward the Erie Road,
and he found in Jim Fisk q facile tool to as
sist in coup detat. How they got control
of the unlucky road and worked it for five
years is now part Of Wall street history.
The death of Fisk threw Gould's schemes
into embarrassment. Driven from Erie, he
determined to make himself felt in other d.
rections. Last year his attention was directed
to Union Pacific, and he saw however the traf-
tlc might 5e cut up byfour competing lines be-
tween Chicago and Omaha, that of the coast
must be confined to one route. Acting on this
conclusion, he operated in diverse manner.
He was bull and bear at the same time on
different stocks. Lake Shore was sold ahead
for decline, and he took contracts to de-
liver at falling prices until he saw the quota
ton down to its present low figure. As a
bear operator on Lake Shore and other
competing roads, his profits have been large
At the same time he has been bull on Pacific,
and has seen the stock advance $50 per share.
He now holds one hundred thousand shares,
range of property which rivals that of the
Commodore. These one hundred thousand
shares represent the par value of $40, O0O, 900,
and market value of $7,000,0 900, but it did
not cost more than onc-half the present quo
this is paid for. since it may be held on a
margin, but the shares are credited to him on
the books of the company, in which he is
the chief proprietor.
AS soon as Q man reaches distinction his
method of operation is u matter of gossip. 1t
is amusing to hear the various statements
concerning the present Wall street monarch.
He lives in the fifth avenue, and has pri-
vate Office near by which is connected with
his downtown rooms by private telegraph.
Sometimes he omts coming down town and
sees his agents at his upper Office, and this
gives rise to various stories. One man says
that "Jay Gould is a perfect Napoleon. He
stays all alone in the grandeur of his own
genius, and by a few touches of his telegraph
drives Wall street into spasnns. Another
man says that jay Gould is wonderful lively
for man of his years. He is around Wall
street as busy as devil in 4 gale OF wind"
Both of these statements are true at different
times. Gould has q number of brokers in his
service, and tries as much as possible to keep
them from mutually knowing their master.
Each may suppose himself to be the sole
agent OF the great operator, and in the course
of that service may hold transactions with
some other broker who ia in the same en-
ployment In the complications which arise
in a wide network of specalations, it may
often occur that it is Gould against Gould.
He may buy heavily of certain stock at the
first board and unload at the second. Gould
is working hard, since to hold his supremacy
will cost as much effort as it did to attain it.
The position is one of risk and exposure, and
Gould being human will act like other men
in the same circumstances. Those who shall
see the conclusion of the next five years may
find something new in this mans history ''to |
point q moral or adorn tale" Gould at |
present will not dabble in the petty trash of |
the street. There is vast amount of cheap !
work in the market. Shares which last year |
brought $50 can now be bought for one-tenth |
Of that rate. Fancies are plenty at your own |
price, but Gould is engaged with too impor- !
ant matters to touch these.