The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-26

Jay GouId's Desperate Espcdients In Pacihe
Mail and Union Pacific.

Mail and Union Pacific.
To THE EDITOR or THE SUN-Str: the
Iiauidation Of GOuld's holdings In Pacific Mail,
which has been going on ever since his periious
positIon was exposed In THE Sun, is now ABOUT
completed. In fact, he Ia at present oeheNeu 10
he selling the stock short, hoping to make up
his heavy losses upon the bear side OF tue
market.
The desperate efforts which he made 70 sus-
tain the price at g and IS were evidenced py MS
questionable expedicni Of setting up a so called
Minnesota commission. He expected to obtain
information upon which to base scores Of suits
AGAINST wealthy ex. directors, and In this way TO
! sust,,n the stock with glowing promises OF the
recovery of several millions Of the company's
money when THE Sun exposed the scheme,
and IL was demonstrated that the so-called COM
mission pos sessod only the powers Of any notary
public. nd that the prominent figure heads
were acting simply as stock jobbing instruments
ia q uld's hands. he tumbled over the remainder
Of his holdings and gave up the game. hlchird
b. Irwin, who was to give testimony before tn o
mock commission, was delayed In a snow bound
TT in on the Union Pgcihc aud no opportunity
presented itsclt to raise hue and cry over his
disclosures. The losses ON the bull account OF
Pacific Mil must have been enormous. and
q nuId's desperate position Is atill further de-
welcomed. when, after ali his devices to keep up
the price, he At length turns and attempts to re-
coup BY bearing the property which few
weeks ago was largely owned nv him, and In
whose management he still hgures as the con-
rolling bower. Such moves ars powerful aux
| i.ianes In building up a want OF confidence in
his other holding. viz Union Pacific.
The Boston capitalists who have been vince
died into buSing stock IN tue after corporation,
| aud whose assistance " invoked In the way OF
| loans every tine that Gould 1uds himself in a
| tokii-h position, Will be Immensely pleased with
the exhibition Of his streng h in the support OF
! Pacific Mail md may perhaps institute inquiries
"a to his ability to Keep up Union Pacific.
| Ii will be remembered that Pacific " " has n
cpuitnl Of aIJ,OD shares. while that " Union Pa
cinr Ia nearly twice ~ large; besides, the rail-
road ourprtaLiOn Is saddled with an enormous
panv nss been HehtinR che Government Ia avoid
payment OF interest until the maturity OF the
| bonds.
Now, II G ould Il oblig d to sell out his Pacific
ii stock and let 1t drop ten pea cent. ON account
Of tue establishment OF an opposition lins by tue
! Panama Railroad, will he he ahle to be keep uu
the price OF Union Pacific stock and bonds when
,heiI value Ia even more seriously impaired than
Pacific Mail by the new line ~ steamersf
| 1t he Is obliged to hquidate on Pacific Mall
which possesses capital OF 10000 shares wi
ssa De md bonasd Jeb' of s,5SoHooS
| In Pacific Mail, Gould caught MS adherents by
tue careful diss, III nation ui points that the toe
war a great purcn .se In tho neishborhOod OF 40
and that II would earn dividends Of eight pei
cent, and pay them, as Union Pacific has beer
dong. Tue correctness OF THIS Information car
tc decided on 10y the unfortunate people whC
are now loaded with Pacific Mail VIII ch G1ulC
has sold. aud who are put to their wits end tC
Keep W. their margins.
In Union Pacnc he Of late bean giving on
| points equally as strong and confidential, To th'
enect that he proposes To place the stock on
par with Other good dividend paying securities
aud tnat the decline from 81 has oeen manipu
lat to induce q heavy short Interest.
| This Information. owing 10 hts known position
a. holding the greater part Of the stock aux
bonds, Is decidedly rich, and VI 1t induces th
I bVsion people To lend him auy mote money q
TO Guy my more stock. they richly deserve q
lose every dollar of their Investments. IN,
stock at present cannot he sold in the open mar
ket A. all except at a terrible discount from thi
quotations. aud Gould's only chance to dispose
Of IL Is 10y private transfer To Intimate friends.
When he has succeeded In placing as much 81
the stock as these friends will take, any one VIII
Is at Ill posted 90 to his customs. knows that h'
VIII LIT tho price take care OF Itself, and II h,
could dispose Of all his holdings, sell II short be
sides. 4 his Pacific Mail performance 10 not ye
So oil IN the history u all street IA TO be for
gotten, anu numerous victi ms are NOW engaged
IN drumiuiug W IN iglus VIII wal IA to mattel
his short sales OF tue properly which he con
! tiols.
/, is likely that he will attempt 70 soothe th,l
r. ilrd feelings win stories u the diflcul y 90
keeping W the pii q On az, cunt - the cOmprti
ttUu Of the new opposition line aud ~ the M
time point to us own losses IN the uull specula
tioa: tbs Will Uf c0Ur tend to enhance th,
! pros gects ~ Union PaC &c holders wnusc prop
cry Is wholly dependent upon tn mAluteuauc
Of his PIE tigc ANA luauCt.l strength.
inc silence OF the u4crs a. To- tie real con1i
tipu Il tNo | utpn Idciuc Riilro Il, .ud .r e. tin
| poll which Is benz puteued tn stripping IN
! company OF every GNANAul a q az o. lav divi
dcAds, which Will cndllc Guuid t. carry ~
STOCK and saddle ttslpou un ,uspcc citing Investor
Il fabulous pliccs, Is q lteat NroN-. AZ u uD
Likely that thc utI "a ne sufpfes-ci loi 81
In view OF recent dl-a-retiuauts 81 pfru,
in tu' supp 80 "a i.a tt.cS ~ tuttr i.ntNA-e
aIc u.dutid influence. tA4.ADJ a.