San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1879-03-15
JAY GOULD.
Rusnor~d Sale Of 100000 Shares of U.,...
Pacific stock bD this Remarkable O,,~ro,o."


iaeiac Stock bD this Remarkable O,era%.o'11"
New York, Feb. l9.-Wall street has
not been excited for long time rs il
was to-day by the rise of Union Pacific
That stock, which in the last few weeks
has ruled between 66@69, opened this
morning ut GOT, fundamentally jumped
to rs. 1t then fell to 75a, and again nd.
vanced to ~. Wall street was puzzled
by these extraordinary fluctuations, and
every form of rumor was current. Il
soon, however, seemed to be settled. No
if by authoritative statement, that jaw
Gould had effected arrangements by
which the control of the Union Pacific
Railroad passes into the hands of syn.
dictate composed Of some of the strong.
est gentlemen in Wall street. The
names of these were variously reported,
but it was generally believed that the
syndicate was composed of Russell
Sage, James r. Keene, Addison Cam.
mack, c. j. Osburnc, d. P. Morgan, W.
L. Scott and Frank Worth. TWAS also
rumored that the board of directors was
also to be changed, some saying that
Jay Gould is to 60 out, and that repre-
sentatives OF the new buyers are to 60
into the board Us one of the conditions
of the transaction. 1t was said with
some emphasis that Gould will retire
from the direction on March l, and that
two gentlemen of acknowledged ability
and character will be added to the board.
Gould, according TO the better in.
formed, was holder of one hundred and
seventy thousand shares, and of these
he has sold one hundred thousand shares
at price not far from 70. As he began
the stock at something less than 80, an
idea can be formed of the great profit
which the transaction brought him. It
is understood that Gould has for some
time contemplated retiring from active
business, and that this is the reason for
this step. A gentleman well informed
as to Mr.. Gould's affairs, stated that the
sale of his Union Pacific interest was
the greatest operation in the eventful his
tory of this remarkable operator, and
he was probably to-day weather. than
ever before. The purchase, it is claimed
on the part of the syndicate, would
give them such hold on Gould that
they could keep him to the agreement
to work with them for bull campaign;
and if he proved false they could throw
their Union Pacific on the market and
break it down. Even in Wall street it
is seldom that q single transaction for
$1,000, 900 is made, and the sale Of that
amount of Union Pacific stock, follow
ing closely transaction for $S,0OO,OOO,
which, it now appears was recently
made, attracted great attention. The
Union Pacific, although earning divl'
dends for several years, has neverthe'
less been dormant, people being afraid
to trust it because there was such con-
centration of stock in one mans hands,
and because he could, at any time no
wished, sell such an amount as to tenn
porarily override all considerations Oh
value or speculation. Now that inc
large block in Gould's hands has been
distributed, the stock is expected to be-
come active. Men on Change declare
that Gould recently settled hisbear con-
tracts at the prices demanded by tne
bull clique, and in addition .oougn'
stock for long account, and in consider.
alton of this the syndicate contracted
to take one hundred thousand shares Oh
Union Pacific at 60 or Go, and that .
check was to-day handed him Tor 'n0
entire amount.