The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-23
nor JIr GOrLn DID IT.
Hts Way of Carturtua the RcspcctnbIc has
ton Uniou Pacific Dircctors.

matter OF surf rise to many when It tfaneiircd
at tho Union Pacific election IN 1874 that Gould
had succeeded Tn obtaining posse sion ~ tho
road II was known that thc BOSTON capitalists
who had controlled the corporation from It's
bcninuin.. had fought vigorously to prevent
Could from obtaining a foothold In the man
uacmont, fearing the evil Influence of his naino
upon the bonds and stock ia the different mar
kc's Of the United States and Europe.
Fisk aud Gould. some time before had forced
the company to remove It's Offices from New York
to boston, In order to avoid the unjust man
dates ~ the courts and frequent experience Of
Gould's INSCRIPTIONS practices caused every
eTori to be put forth to prevent tho success Of
hs schcme When he appeared in Boston Just
before the election and demonstrated TO tho rs
tonishcd Board Of Directors that he controlled
1880 shares, or more than one-half OF the out
standing capital stock. their conformation
knew no bounds, and In many Instances a rapid
selling Of the stock occurred, It being feared
that tie property would TO handled I'm the Same
manner 90 tho unfortunate Erie Hallway had
10 the surpriso Of everybody hut the members
OF the board who were chosen at the election
made in the direction. 4 few Of Goulds init
mate friends took the pieces made vacant hy
designations, aud the Boston capitalists az rulc
Kent their roaifious. Many people supposed
Ga i Gould Gas afraid 10 turn tho Ola hoard ont;
oihora doubted the efscr.ions that NO neld the
quantity Of stock which ruHpr gave him tho
credit 81 posse s-iny; VlrOu4 surni co were
prevalent; but up to this time the true reasons
Tor his action have not becn M de public.
Persons VINO have soon brought into contact
with hin know that he never iortcts opposition,
aud sooner or la.er he nttempls 10 wreak re
vcnrc upon anybody Nv whom his schemes have
been tnwartcd. lie viii. however, continue to
put on tho appearance Of friendship so long "a
his projects are furthCrcl by so doing. aud
quietly wait until favorable time a'rivcs. when
he NAV himself cscarc sc.iheless, and his VIC
tins suffer without rfWcdv
In this cose the OLD directors on tho Union
Pacific road Ind boon for Ions time connected
with the corporation, and were intimate both
with tho real condition of the nropertv md with
the WcHaures which had been rdnpfed w to
organization. They were IN most instances
wealthy meu,who endowed good credit in Boston,
and whose names carried weight with investors.
Tnev had opposed Gould W his efforts 10 obtain
possession Of the rosG. ana up 20 thi4 time had
been successful. Guuli could never forgive this.
hui he saw way IN which th"y might bc used
e. phi chestnuts out Of tie nrs for certain
HIS first move then was tn < IN plan by
which he might use their respectahity rs n
marketable article, and - the same timc pre-
vent them from interfering vith his designs In
the SUITS Iuent conduct OF the road. Selecting
the men whom he JUDGED to be Of tho bet
standing. fin incially and socially, he drew up y
letter to each ofthem. in which lie dem nstratcd
the fact that he held enough stock to control
the election. and OF course possessed the power
To- nut out or put in ANYBODY lie then expressed
his DC ire to manage the corporate n In a man
ncr which would improve tie conuiiioh, reflect
honor upon the men in the direction, satisfy tho
public. and rrmunerlte the stockholders. lie
had ob'erved the ehc'cucy anu integrity Il the
parties 90 whom tho letter. were sent. and de-
sired tn retain them ia thu management. He
had Informed h.tnsel' 81 the a. inty Of the road
TO earn hLu pay dividends. and Thought that the
recipients Of his faVors would concur with MIN
In the advisGhilitv Of entering anon auch policy
MS soon ~ possible. lie also believed that new
Issue OF 90 hds was necessary 90 take up the ten
per cent. income bonds. and tnat an amount II
sinking fund bonds should he authorized, which
would retire the others and lerve a surplus to
bc sold from time, TO time rs mt-ht be deemed