Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-07-01
WALL STREET IN THE WEST.
SFeat Enterprises ParaIyEed By Jay
GOuld-The Man who GObbles Rail-
roads at Fifty Cents on the Dollar

| power III a TOTAL QeIduGeM6uB OF bui
railway schemes which have been the
pride and the hope of our people fol-
years past, and which were being
worked out, slowly indeed. but with
tolerable success; until Jay Gould
stepped in. Since his advent in oul
railway system scarcely a rail has been
laid in Northern Colorado.
Gould does not build railroads. y
said somebody who knew him well
'He buys them, though, at fifty cents
on the dollar, and as much below that
as possible"
The Gould party got control of the
Union Pacific couple of years ago; at
a time when that company vas COM
plotting the Colorado Central branch,
which would have divided the Colorado
trade with the Kansas Pacific, leaving
the Union Pacific In undisDuted pos
session of the through trade east and
west. Unfortunately, the Colorado
Central was being built from the wrong
end. The line headed high up in the
mountains, and forked on reaching the
plains, one line connecting with Den
yer and the other poking itself hither
and thither in the general direction of
the main line, intending to unite there
with at Julesburgh, but stopping tenn
porarily at the little hamlet of Long
mont. 1t stops there yet, and it prom
ises to stop there indefinitely.
Last year President Dillon came out
and looked over the field. He found
the Colorado Central without much
trouble, rode up Clear creek canon
through the most magnificent scenery
in Colorado, and took a run down to
Longmont, where he found the jump
ing-of place aforesaid, and turned back
sorrowfully. Everybody asked him
when he was going to finish the road.
He didn't know. He thought there
were enough roads in Colorado already,
and doubted whether it would pay TO
build any more or to finish those al
ready begun. Nevertheless, he saw
that the trade of Colorado was worth
having If it could be had, and that
Kansas Pacific stock, then worth a few
cents on the dollar, would be worth
good deal more if the Union Pacific did
not connect its Colorado branch with
the main line. 1t was also manifest, as
a business proposition, that 6 working
arrangement between the two roads
that would be mutually profitable
would advance the stock Of each, and
with this valuable information secreted
under his big straw hat Mr.. Dillon re.
turned to Wall street, prepared to act
for the best interests of MIR. Gould and
himself.
OF course at this distance it is i'm
possible to know what must be merely
guessed at in New York, but an impress
sion prevails that the late "consolida-
ton" of Pacific Railway interests in
this part of the country was a mere
stock-jobbing operation, and that it
Melted large profit to the Gould party,
not only IN Union Pacific stocks, but
in the line of deprecated Kansas Pa.
cifc securities, which advanced largely
under the suppOsition that the entire
trade of Colorado had been abandoned
to that corporation. 1t will be remem.
bered that the Colorado Central lines
were to be absorbed by the Kansas Pa
cifc, which was manifestly the best
thing that could be done with them in
their existing state of affairs, as they
did not connect with the Union Pacific
road, and did with the other line.
While this would not give Colorado
lines to the East, and was
to that extent a contamination not to
be desired, there we've certain glittering
promises held out which went far to-
ward smoothing over public disappOint-
ment. None of these promises have
been or are likely to be fulfilled. The
has not been effected, nor
does any one now believe it viii be. The
has been carried out as far as
it was favorable to Mr.. GOuld's side,
and no further.
While upon the subject of railways,
it seems proper to notice the fight be-
tween the Atchison, Topeka and Santa
Re road and the Arkansas Valley |
branch of the Kansas Pacific. These !
are rivals for the right of |
way up the Arkansas river to Pueblo, |
and both lines are grading and laying |
track side by side, sometimes crossing
each other, or rather coming together |
without crossing, as the A, 7. and S. |
F. graders are armed, and instructed to
resist interference.
The Denver and Rio Grande narrow
gauge road is also extending its line |
sruthward into New Mexico. This |
road has been a wonderful success. 1t |
is perhaps the best paying road west Of |
the Mississippi. The stock is mostly |
owned in Philadelphia, but some |
Englishmen are interested in |
it also, and many of them are engaged |
IN locating towns and colonies along |
the line. The railroad owns nearly |
everything along its track, including |
Manitou, the great watering place. |
Hotels, newspapers, Touring mills, min
sral springs, toll roads, anything and |
everything needed for the Development |
IF the country or the promotion of its |
the Colorado Improvement !
Company, which is only another name |
for the Denver and Rio Grande Rail !
road Company, builds and runs, and |
does it well, too. 1t may be called a |
but it builds up the country. |
THE CLERK OF THE NEXT HOUSE.
Vicksburg Herald.
We had the pleasure Of meeting, |
last evening, our old friend, Maj. A.
D. Banks, formerly the editOr-in-chief |
Of this journal, and for a number of |
years a successful cotton planter in
Warren county. Mai. Banks is, as
the readers of the Herald are aware, a
candidate for the clerkship of the next |
House of Representatives at Washing |
ton, and we are gratifed to learn, with