The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1879-05-15
the Imp OF WALL STREET.
Jay Gould Floating a New Teis-
graph Company in New
York City.

York City.
New York Letter to ST. Louis Republican.
Jay Gould has a fever for forming,
or manipulating telegraph
He took the Atlantic and
Pacific when it was in distress threw vast
business in its way, and soon made it so
formidable that the great Western Union
had to give it shelter, which meant smother
million for the Gould hopper. The Union
Telegraph company, which was incor-
porsted day before yesterday, with
capital of ten millions Of dollsrs, has Jsy
Gould as subscriber of one half the stock.
Mr.. David II. Bates, the general super
iu.endeut of the Atlsntic snd Pacific
CO nps1y, and Mr.. Charles 4. Tinker Of
Z fillmore are the other two of the three
thousand shares Of 500 each. The plan
il said 10 be part of scheme 10 make a
line fro the Atlantic 10 the Pacific. Tbs
incor porst'on articles give tie company
the power to run lines through all the
states and ,erIi'ories The Central Union
Teleg- aph CO panv Of this state, which
has about fill miles now in operation,
forms the nucleus VI Gou DIS new company
and ii is designed TO complete n line TO
Chicago and perhaps 10 Il, Louis within
three months, but its main reliance Tor
extension Is the Cooperation of railroad
companies with local lines already in
operation along which Il ere is much local
business done. The present line OF the
Central Union company extends from the
Produce exchange N this city TO High
Bridge, thence poles have been distributed
as far as Albany, and are in position as
| far as Schenectady. The line il in sexual
operation from Syracuse TO Oswego, aud
it is parity constructed from Albany TO
Butf5io, at which point the Western CON
neciions will be made. There sre two
routes chosen TO Chicago. One connect
ing at Buffalo with Canada line and the
other by way OF Baltimore and the line Of
the Baltimore and Ohio railroad. To
make these lines complete the new company
must build lines from New York to. Bslti-
more and from New York to Oswego and
from Chicsgo to detroit.
| ON THE QUIET.
The work of periecting the new company
has been done quietly. Work was begun
a week ago on lines east and south of New
York, and the lines from New York to
Boston and to Baltimore are so far sdvanc-
ed that they will be done in about ninety
days. These lines completed, the Few
company il put in direct connection WIT
the lines to the Pacific slope. The scheme
depends upon the consent of all the rail
road companies TO PERMIT connection witt
their wires, and II this consent is obtained
then Gould's new company leaps into lif,
la giant. The railroad companies, not
withstsnding the fact that Senator Jonei
of Florida introduced bill into the las
congress to enable them TO do a genera
telegraph business, have done suct
business and claim that they have ;
} right TO do it, and cite in support OF thei
claim a decision Of the supreme cour
of the United States, where in the onl,
decision ever uttered on the subject, tn.
right was defined. The Baltimore an,
Ohio road, the Pennsylvania Eailroa,
company and the Wabash roads s-e sai'
|, to have exercised this right withOu
respect to the Western UuiOu company
! BY Joining the Few lines with the Wsbasl
road lines, those OF the st. Louis, Ksns
City and Northern, the Kansas Pacific an,
the Union Pacific, there il almost instante
a through line TO the Pacific, and f-Oi
, the eastern terminus OF the Wabash road
there are diverging lines to the Atlanti
seahoard.
The scheme is eminently characteristic
of Jay Gould, and shows his skill at device
Mr. Joseph Owen Of OswegO, who projecte,
the Central Union line, has always ha,
chargeof it, He will be secretary Of the ney
company, and Mr.. David II Bates, VIII
yesterday resigned from the Atlantic an,
Pacific company, becomes its new president
The new superintendent OF constructio
will be Mr. Dennis Doran. All OF the3
men have had long Geographic experience
The company found on filing its article
of incorporation that the Union Tele
graph company was the name OF a compan.
that had be, n chartered twenty years
Therefore new name has TO be chosed
The company will continue TO be known il
this state as the Central Union. The EeS
company is denounced az.
STOCK JoBEING OPERATION
To bear Western Union stock, so "a to saw
some persons who are short of il. Tn
Western Union officers admit that In
scheme may break the market for their
stock, but they cay that 1t will take al,
company CT capital OF twice as much a
the Central Union five years 10 at al
affect the bulk of their business. TIL
place the organization in the category VIII
the other crop Of telegraph lines whicI
have suddenly appeared and as sudIsni,
appeared in the last f-w years.
Jay Gould is restless sol1-hUg. IL
has the alchemis's art oil tuning Int,
precious value all that he mauipHlates
He makes OF life grab game and by dal
and by night plans, schemes, contrIyes
wickedly or honorably, TO secure tn
SUCCESS OF his ends. He IL most secretive
believes in the efficacy of discrimination
The cuttle-fsh, when it makes an attacl
upon its prey. e1udes an inky liquid
which clouds the water and hides it whilt
it SEXES its victim. This shark Of Wal
street persues the same general method
TIE has number Of glib young men VIII,
make their living off of him in variou
WAYS and when he ia ready to make i0ray
upon some financial field he sends the-,
sleek-tougued emisaries out in differe1
directions to cloud up and discolor thing
so tina; he can make his attach sharp
short and elective. 1t is amazing how
skilfully they DO their masters work
They are bountifully supplied with reasons
why this stock il worth more than five pei
cent, above the stock exchange quotations
or that stock il immensely oyerrated, and
those who hold it had better unload and
stand from under. Gould keeps his
intentions to himself. He expects every
man under his command to do Just as he
is advised Or told to DO. He ia 20 active
and malign in his work that he has vel
earned the title Of
LITTLE DEVIL.
He seems to expect trust from no man,
and he certainly seems TO have faith in
none but himself, for he doubles upon every
one he uses in important enterprises, 80 az
to checkmate any sudden disposition TO
act for self instead OF Gould. In his Fifth
avenue house be keeps numerous telegraph
operators, and he keeps them apart from
each other. He gives his orders 10
person and it il one wire into Wall street
a message to buy one stock to one broker
and then to send simultaneously 10 another
broke to sell. He then takes his seat at
the stock-exchange tape, and gees how it
works. He was until few months ago
more than half owner Of the Union Pacific
Railroad company. Every night before
he went to bed he received a dispatch of
the earnings Of that road "a estimated for
that day by some competent official. The
figures were carefully entered into book
kept solely for that purpose. The man
n