The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-08-13

correspondents VI A'Au AuhahI'PH'" AAhicA'
The peculiar behavior Of Wall Street in
time OF strikes, putting up stocks which are
themselves Panic-stricken, eliminated
the other day in an obscure operator
whipping Jay Gould, Nothing else hap.
pened but the whipping. Gould was on
top even when dropped down an office
area. His logger was mashed like Raw.
don Crawley by Becky Sharp, even in the
attitude Of beligerency, Gould had un-
shouldered himself Of a quantity Of unproi-
liable stocks and had bid in better stocks,
which his confederates were bearing" or
putting down. There seemed to be moth.
ing else to do but to lick him, and that
made 10 difference. Could was little
scared, but it did not affect his pro-
gramme.
WHO THEsELovERs ARE,
The day after Jay Gould was assaulted
by MAJOR Selover | called on James
keene, Seloyer's principal, at the West
End Hotel. The SelOver family is Of not
much financial consequence. They will
probably survive few years in history
~ the plaCers OF the Emma Mine ON the
London market and the succeeding ruin
Of the reputation OF General Schenck.
Ilavingput that mine on the market, and,
by SChenck's Endorsement Of il, having
given it lofty value, the SelOvers and
their friends, solely conscious Of the En-.
ma Mines weakness, began to sell the
stock short in large blocks. OF course it
iel, aud they pocketed the difference.
There are two Selovers-Jim and the
Major. They control the Gentle news
paper at Salt Lake City, or did control it
A. long as they were manipulating Utah
mines. Three-fourths OF the fuss for the
last six years against the MormOns was
their connection. Ii they could not have
every thing their own way in Utah they
deluded the East with tales Of Nor
mon atrocities. Jim Selover, when sober,
i, an agreeable man. "Major" Selover
hI' a very poor reputation on the street.
lie IL said to beguiIe his brokers into
buying or selling stock ION joint account"
Ii there ia profit he gets his half with
out risk; il no profit or Il loss, he does not
come forward with his check. Such
man receives very little sympathy when
lie whips little fellow like Gould. "Ma-
jDr' Selover ranks in Wall street rs
hIowhard. lie Ia a red-whiskered man,
very much down in the mouth when down.
Three years ago he figured in campaign
against Western Union Telegraph
stock assaiIable because OF its large CAPT.
tai and the few formidable men like Nor.
gan and Vanderbilt behind it, and also
because of the ease with which opposition
lines are built. II costs but little above
SlO0 mile to construct telegrAphs
through virgin wooded region. Gener-
al Eckert told me, il remember we'll,
that for $IOG mile he built the Allan
tic and Pacific Telegraph from Louisville
to New Orleans.
Jay Gould bad as his reputation is at
the present time, ia conservative capi-
taIisl. lie owns the only railroad be.
tween the Atlantic and Pacific Oceans,
except at Panama. His ambition and de.
eire ~ to keep that property up to div.
idend paying figure. Every body predio.
ted that it would break him, but by re-
tanning great legal counsel and having an
Inherently strong case Gould won two
great suits for his rights in the railroad.
lie got judgment against the Mail Com.
pany Tor moneys advanced, &c., and made
them pay him about two million dollars
from an empty exchcluCr. This loss
crippled the Company and virtually
threw 1t out OF competition. Gould has
lne Shaustible resources, both peCuniary
and legal. His wealth is believed TO be
moderated. His audacity 10 startling.
lie pays for information more than the
elder Bennett ever did for news. lie
works night and day, and is the only man
To whom the street phrase does not apply,
early information aud large bank ac.
count will burst any body"
EEENE's ARRIVAL ON THE STREET.
Heeuo came to New York with about
two millions Of dollars, made IN aSsaul.
ting the BONANZA mining stocks Of Cali.
iornis He produced the panic which
lltttene,io out all speculations on that side,
Born in England, he came to America
when boy, and showed obstinate quail.
ties AZ an operator. lie is a slight man,
blue.cyed, with large auburn moustache
anil = clear, natty look, ont Of health most
NJ the while. HO was induced by Major
SaIover and other Caliiornians 10 halt
awhile in New York, and began specula.
ting through the house Of Samuel isocock
At that juncIure a bull campaign WA put
MP by sam. Mills, the most substantial
man on the street, and assisted BY Frank
Work and others. Keene applied to be
let into that pool. When apprisetl Of It's
extent and conduct he brought about u
union with Jay Gould through Belden
hnd Cohen, two middlemen. Mills & Co.
were double banked" or sold out, and
kecne made another million, through
don'1s assistance. Then Keene essayed
ageneral campaign on his own account,
aSSoc'atinE. himself with Russell Sage, Sci.
over and others. lie found jaw Gould
not inclined to enter into il. Gould do.
parted for California 10 look at his TInion
Pacific Railroad. In his absence EceHe
manipulated the control OF tho Atlantic
Il Pacific Telegraph out Of Goull's hands
Gould had built it, spent his money treoly
to keep il up and used it to break down
telegraph rates, so as to "beAr" Western
Union Telegraph, Of which he wa, short,
Seeing that Keene was possessed OF his
line Gould felt ugly. He quietly shipped
the telegraph of on Russell Sage and Mr
Neene and loaded them up with that on.
erous and Improbable responsibility
Nevertheless, he did not betray his own
plans, and silently associated himself
HIth the Western Union stock as II wa.
offered. Commodore Garrison also leI
Am'eIt out OF Atlantic & Pacific Telc-
itaph. The great railroad strike came
"a, and Gould wa short OF stocks gener.
aIIy' Keene and Russell Sage were load.
e' up, These men and their unimport.
ant eoadiutors had to hold the whole
market up. Gould affected to give III.
Ne I''itance, but really held up the only
s ,oGk Of which they were Short-WeSter n
Union; Slower, KeCne and others traced
several blocks Of this stock 10 BeIjsn
Hoa!l' broker. Then they saw their in,
"'l''!' They were loaded up with Rock