Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-02-03
JAY GOULD'S VITALITY.
The Little Fello,v Still Cock of the Walk n,
Vail Street.

The New York Times of Thursday published
statement to the effect that Jay Gould had
been financially bankrupted by the recent
fluctuations in stocks. Later advices, how
ever, show that if he was embarrassed at all,
it was but temporarily, for he has renewed his
grip on the stock market, and is again practi-
cally the dictator of Wall street. The follow
ing, from Fridays New York special to the
Chicago Times, will show how he is worrying
the boys:
During the early part of tho day the specu-
lative markets at the stock exchange were
feverish and uncertain, and there was sharp
break of nine points on Union Pacific, which
was followed by an instant recovery of seven
points. The general list at this time had fallen
one-quarter to two per cent. With the ex-
ception of the break in Union Pacific, the
course of the stock market even during the
morning was not remarkable. As the day adj
vanced steadier and stronger tone was de-
veloped, and in the last hour the market was
strong, and at the close buoyant.
Jay Gould said to-day that do what they
the market. 1t is the common belief in Wall
street that Gould is more nearly master of the
situation than any one else. It is not known
that he has friend of influence who is in the
secret OF his present manipulations of the
market. In these days he can play lone
uonu oeVCer IuaH ne can organize a comblna-
ton, for he has in times past led so MANY
friends into pitfalls of his own digging that
everybody now fights shy of intimate business
relations with him. But he is kicking up a
lively dust on his own account, and the men
who most loudly trumpeted his death two days
ago are very much dismayed at the iveliness
of the corpse.
leading broker said to-day: "There isn't
Spectator here that wouldn't give all his old
shoes just to know what Gould is going to do
tomorrow. A great battle is being fought be-
tween the people who are long of stocks and
MIR. Gould, and it is just such time as this
when people are led to believe that he has gone
all wrong, that Gould comes out and shows the
strength and skill that make him what he is,
the great operator of wall street." The i'm
pediments which Gould has thrown in the way
of the bull movement have built up a strong
bear party, and for while at least there prom
ises to be two sides to Wall street speculation.
themselves on Gould for his yesterdays raid
on stocks. D. P. Morgan Frank Work and
Others Joined forces aud made a savage attack
on Union Pacific. The stock was suddenly de-
pressed from &c to 571s, and was offered for
moment at Sc with so the best bid, but the
brokers of Gould and other holders Of the stock
were soon sent to the rescue and the price
rapidly recovered to 81. The attack on Union
Pacific, although for a moment successful, had
not the effect of bringing stock out for sale. 1t
was begun too early in the day and by people
who had not the nerve or the command of cash
stock to follow it out. 1t did, however, seem
to give additional strength to the general
market, and the feverish feeling of the
morning was succeeded by steadier buy
ing, which resulted in firm market at the close.
Gould and Russell Sage are still bearish on
Erie, and sold large amounts short to-day in an
endeavor to break down the price. Their short
sales depressed the quotations to rs, but here
they gave up the contest. and the price ad-
vanced to 26.
HOW THE BOYS RECEIVED THE NEWS.
New York Special to Cincinnati Enquirer
Never since the war was there such excite
ment on Wall street as reigned there for a
couple of hours to-day. This excitement was
occasioned by sudden and terrible tumble in
Northwest, which fell in moment from 63%
to &c. This downward movement, it is said,
was caused by II. K. Enos, the stock board
broker "f Heath & Osborn. Nearly all the bro
kers were at lunch IN Delmonico's, near the
Exchange at the time, and when messenger
rushed into their midst and yelled Northwest
has tumbled per cent. they sprang from the
tables with their napkins in their hands, and
minus their hats and coats, bolted for the
door. Here they became packed in writhing
mass of humanity, and in their efforts to get
to the street they broke down costly glass
partition. They rushed into the Exchange like
SO many madmen, and while some yelled their
desire to sell what they had Of Northwestern
others yelled their desire to buy it in. Under
this influence Northwestern reacted and went
up to 80. It fell almost as rapidly, and wav-
cred between Sc and 60 until o'clock, when
it closed at 594. st. Paul was also affected
by the tumble. After the close of business
brokers fingered in the neighborhood of the
Exchange for several hours, excltedly discuss
ing the events of the day.