The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-25


by men like Vanderbilt with open arms. lie
went into the Erie. and in very few years be-
came the creditor Of the road 10 the extent of
siuOOOO0 This part Of Goud's history ami
his association with Jim Fisk. have been
described o n and over again. and are too
familiar to everybody to be- dwclt upon here
His personal view however. Of the concluding
chapter Of his Erie experience has still It's in
tcrcst.
My connection with the Eric road IL being
constantly misrcprcsnnted.' said Mr.. Gould
81 found out that Mr.. Drew was selling the
stock short He was right as far rs the intrinsic
value of the security was concerned. But tn"
company could not possibly consent to keep in
the board Of directors member who de-
prociating it, property 1t was accordingly re-
solved to keep Mr.. Drew out. Mr. Vanderbilt
and myself had large amount Of proxies which
were given us upon the understanding that MIR.
Drew TO bc kept out. Meanwhile he got
around Mr.. vanderbilt by back door. and man
aged to gain his connvancc. and Mr. Eldridgc.
the President Of the road. having kept n vacancy
open for him. Mr.. Drew was put in. When |
left the board naturally demanded the money
owed to mo. and all the moro pcremptorily. ms
the securities upon which | loaned it were by
no means of an available nature. When got
possession Of my money and left the company,
connected with the concern. had perfect right
to do this and | sold good deal Of the stock.
One day | remember Mr.. Bischoffshcim was
talking very loud. and Offering 65 gold. seller
IL months for $4,000 shares. | sold him the lot,
and took II in a short time aitcrward in the
neighborhood Of 49,"
The great nnancer narratcs such episodes
without even Ms much ms II smile of satisfaction.
" lie is always like that" friend who was
pres, mt at the conversation remarked to me
aftcrward. Il have known him to make or
lose million without a muscle Of his face
changing. People have no idea of the wonder
ful impcrurbahility Of this man"
On leaving the Erie Jay Gould went into the
Cleveland and Pittsburgh stock. He bought i:
w at about 20. reorsaniz,d the road. increased
its work I'M. capacities. doubled the market price
OF the stock. and leased. the rond out To- the
Ponn1y lvania Company upon the bnsis Of per
cent. ON AK. lie made several millions 10y
this transaction
In 1873 hc went into the Union Pacific. The
stock was then at 2O it stands at 90 now.
Il went INTO the Union Pacific" remarked he
because | think that that road has II great
future. Their are incXhaustible coal fields
around there and coal is a great thing for rail
roads. 1t means cheap fueland heavy frcghts.
It also attracts general busin - along thr
i4llf i nlitflf II u IIlN'Dlf n'N'I 10 u'N' HhN
thing 10 do with Il road that has not plenty oi
coal"
TEL me. Mr. Could" interrupted I. is ii
true that while you were SO severely i'll about
two years ago some of your brokers sold out
quantity OF tho Union Pacific stock they
were carrying for you. and caused you to lose
u considerable amount of money!
There is not n word Of truth in IT, never
buy share Of this stock unless l can take it
away from the street believe in the road. and
| stick to it,"
A few days after the Selovcr episode I hap
pencd to have u chat with Mr.. Gould. which
depicts him and his connection with Wall
street better than | ever could unless | under
took to write u volume Of analytical biography.
Deeply seated in an arm chair. one leg on the
| table and quaint smile on his lips. he talked
! with a serenity of expression in face. attitudes
and words which. IL transmitted ON canvas.
| would suggest the image of "a man living amid
pootical ideals and having absolutely nothing to
do with Things earthly
| " | never take notice Of what Is said about me-
nr, ..-, ..'.,-,, tuinl~ nave
never done. II would bee idle ON my part to at
tempt to contradict newspaper and street ru-
mors. My operations in Wall street are much
| less important than is generally supposcd-,'s-
| pecially now feel snug. and am no longer
| disposed To take much active interest in the
market Employing rs | always did large
number Of brokers. | was naturally made the
| object Of their fights. They would become jeal-
GUS of each other never taking into con idera-
ton that | could not give myself up into the
hands of any one man. These riValries of theirs
should be their own look out. A. to the numer-
Gus enemies | have, any man in my pos iton is
liable to have them. With me the hittcrest enc
mics always proved 10 be men to whom rem
lnr,Al -;
with the laws of human nature. If you save a
mans life. he is sure never to forgive you. for
his vanity cannot tolerate the idea OF your being
his henefuctor. II you render man a service
once, you must become his slave and be at his
service all your life long. And his claims upon
you VIII constantly 20 on crescGidO know.
for instance. that have never done anything 10
Mr.. Sclovcr, except that helped him to make
money. And you know the consequence of it,"
And what are your relations 10 Mr.. kcene z"
inquired |.
They are very good We had business
transaction together. paid To Mr.. K,enc some
large profits. and | believe the feeling l. on
10th sides a pleasant one. On my part il Ger
tunly is So. Mr.. Knenc'. intimacy with Mr.
N.ioycr, of course. docs not concern me. I'll
TOLL yon that as general thing do my bees, to
hc 900 good terms with everybody como in ron-
IA 4 with. ann not of "A qunrrelsome compost
tion. But on the other hand, have the di-ad-
vantage oi not being sosahle. Wall street mon
are fond OF company and sport. \ man
makes hundred thousand dollars here.
ami immediately buys a yacht. begins 10
lrN" fast troit'rS. and becomes a sport gem
'rnIiy. Ms tlstr- ln ina "a different direction.
When business hours over ..u home and
spend the remainder OF the day with my wife,
my children, and tho hooks # my library.