The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-02-18
GOULD STEPS DOWN AND OUT.
DISPoSING or ms CONTROLLING IN
TEREST ~ UNION PICIETC

the country for tho purpose of restorng'his
health on the shores of the Mediterranean.
II haa been an open secret for some time
mast that Mr. Gould was short OF large amount
ofNorthwestern common stock. To cover his
line in the open market would have boon ruin
10 him. and be- used all his wit and shrewdncss
10 get out Ok the scrauo without becoming q
tankrnpt
ru, Wai street is provorbialiy good-ns
turcd kind %. community After protrdcied
nee1uatlons a syndicate was formed for the
tutp. So cl exchanging Mr.. Gould's Union Pa.
cfc holdings against the stock which he ne ed
ed to cover h- shorts The syndicate com
prsed Mts-rs. j. Il. Keene. Edwin h. MORGAN.
Russell Snge, Charles Osborne. Addison Cam.
mn H. and several other mon Of solid Wall
street sanding. They arc reported to have
given Mr.. Gould share for share. the North
west COMMON stock he wanted against the
Uu,or Pacific ne held.
This Arrangement puts Mr. Gould entirely
oul a. tac oort"l! u; tho Uhion Pacific. and ut
IN forthcoming election In March next he II 70
be put out ci the board Mr. Solon Humphreys
OF Edwin y Morgau's house. taking he place
~ representative of Messrs. keone. sage. and
ether capitalists who nre now carrying the
Union Pa,iic stock handed to then by MI.
Gould.
At the opening Of the market yesterday vague
rumors of the probability Of some such arrange
mcnt began 20 circulate. and the mere chance
OF Gould going out OF the direction OF tho road
put the stock up nearly 10 per cent. the closing
quotations being 77h. against fs4s Oh Saturday
Mr.. keene. who WIS the leading spirit oi tho
whole transaction.is credited with holding 10. 900
shares. bought privately from Mr.. Gould at IS.
Mr.. solon Humphreys has the reputation Of
being IN able fnancier and is one OF the direct
ors Of the Wabash road.
Mr.. Gould was found in the Offices OF the
Union Pacific. % Nassau street yesterday after
noon. and freely said that he had disposed OF
part Of his stock in that company but the
number Of shares he would not state He denied
tha, he contemplated resignng his position as
director. He went on TO say that the earnings
OF the road for the FIRST fourteen days OF this
month showed an increase Of 100000 upon the
earnings Tor the same period Of last year. and
that the increase oi earnings Tor the month Of
February was estimated at tl2500
b'r Of the Union Pacific directory. as well as
drAler 10 ocra- lonal puts and calls. at
t-nded the meeting that was held in the Union
Iacifr Offices early Yesterday morning. He
wis present A. member Of the purchasing
syndicate. When Inquiries were made of Mr.
Sage reHtive To the transaction and its causes
hnd probable results. he burst into u glowing
description OF the property. Then he added !:
Several Of us got together in Mr.. Goulds Of
nce this morning. and when We came out we
Ihad already bought % 900 shares some weeks
ago for Mr.. keene md nyselfso that altogether
We bought about 100000 shares. What did we
pay for itY Well. in the neighborhood OF 20 and
81 Mr.. Sage was not willing 10 say whether
tiie purcnas" was ior citsh or mol. put II was n
satisfactory bareain all around. whatever the
terms w"re.' The general report on the street
was that the terms Of the sale were 30 per cent
cash aud the other hall in Northwestern com
mon stock on cal. nj the market price Of yester-
day Mr.. sage only smiled when this report
Mr. sage was asked what induced Mr.. Gould
60 part With this stock which he has SO long
held. oh. he wants to take rest" replied
Mr. sage. He don't care about working as
hard ns he has worked. and he's got enough to
him by circumstances ?" was as ked. No, no.
hy, no meals ioq see he's been the chief
II sort Of deadens il. It's been sort Of
one man concern, and that kind OF thing
people are afraid Of. Gould thought IL
would br best To have the stock divided up and
distributed about more. That has always been
ny, view. I'm firm believer in the property.
and. too that It's worth more than ii sold for
to-day. Why, ir-and want YOU to put me on
record in th.s-I would rather invest in Il AT S5
within per cent. dividend than in Government
bonds ut par with per cent. interest; and
IhiLk the governments pretty sound, too. Ihnve
believed N H. and in distributing II. too. For
friends up in New England anl elsewhere to
buy Il Tor Investment IN 100 and 200 Share lots;
And DO you think Mr.. Gould Will leave the
street p 80, -,
les. SUPPOSE he Will-eNceut that he may
take hand now and then for amusement. or
drop IN when Tiers y b'g lump to he made
Iau na an 5 r. eres Az 'his ir3nps % WIN Win
OF people has made HIM Il little tmid about
where ne places his securities. and, rs tnat has
y he done to Operate. he thinks he'll let them
Mr.. Sage was asked what changes would tako
place Ia the Union Pacific directory in couse-
Ql"nfe OF the pur 'hase-would Mr.. Gould re-
Mr. Gould says he will" replied Mr.. Sage
- Its - ~
We t' u'r thnk il IT, He is "A wonderful man TO
manage o. railroad. You would be- surprised nj
sIr s, .H,!rd information be has about tue road
Has ur sufficient holding TO warrant his re-
Halnlh.. Or ~ Keep himself IN the Board p
stored awny and thatlhe has never touched. He
hal tuuut l9OuOO shares ia id."
Then be- must have $4,000 leitl"
w 'ii, yes-ahlut tlai,
Th"s' revelations Mr.. Sage made with much
inE'uuousnrss
As t,iilr .'hanges in the directory. Mr.. Sage
sad thui Mr.. k"our would 20 la ANYWAY; 80
Y ud At. S"luu nun pnr.yS ami = tsi' AZ
dil uut snow vi. % WIS a. getre from th Board
= tI, WINDSOR hOtrl la-i night. the report vas
u ? tnr 4ctlrlus directors Wrrr all Western
nm. lh-r. ~ one va 'ancy, caused by death
i1 Dr. D.'d at th" aAnua election 70 be nrd
W. .ago said tla. al the rlQ.a OF the syndicate
ecn'rr-l -l"r tn ihe mo.n.ns Mr. Could compli-
Mrnl' "Im W. sAH", woo iHo manner IN
thlrA ~ thir looming money ou its stock, no
iniu,rr q w l}w" ~ "ts G1ui"d "r low much me
tLis, 'orluue1 SIR. sag. h.'.niise had con-
l'"n'' ii' H. hh'' u''"r Rad luss taau 5000
tltIt- O.. ii l9o--1 Maie M hrst purchase
Mr. Ad!so1 Camnicek lad ten minotcs'
G!HI wiq ar How' % iLo rail Ji 'he Windsor
god Aunor. rh'n Mr. Camul,.s ga,s piaes
Mr. Cantl,tok said n't.rvtrd iGn, Nj g. MD
lti Ll W.ught ut srlhus any oi his Union
. t.i fft Ia "a ltt. h