Morning journal and courier., 1881-01-05
Jax GouId,s Abilities as Bear.

New York Letter in St. Louis Rer ablican.]
 Jay Gould had $50, COG, 900 in money Sep tember 1, 1873, and was then prepared to hammer the market down-to send chilling fear tbrouoh all the list. On the 9th of Sep tember he appeared in the exchange and be- gan work He first attacked gold; $2oO,- 600. 900 was sold in one day by himself and his associates. The price fell seven cents, giving Gould an enormous profit. He locked m his profits and his capital and turned his attention to the list of stocks that had already weakened from to 15 per cent in sympathy with Lis daring raid on gold. Dlstrust be- came general small holders were shaken out, timid ones sold out, and many strong opera tors ranged themselves on the pear side, under Gould's leadership. Western Union was the next object of assault He sold 4O,- GOO shares short, and down it went, tumblng 10 cents in one hour, clearing Gould half million in sixty minutes. This was on the 18th of September, and by noon Jay Cooke failed. Then came riot and rum. On the next day the steadiest stocks dropped like lead and the staunchest house collapsed. By D. m there had been a loss of $lOO, ,O0O,0oo in values since morning, and money was worth per cent. day. Gould hltted hke yuIture through the black and slckenlng scenes battering mercllessly any stock that showed signs of vitality. The next day the banks suspended, and at IF the stock ex- chance closed doors-and the panic had set tied upon the country. It seemed 1mpossl- ble to lift prices. There was money enough but no confidence. The government relssued s3oO OOO GOO of greenbacks. There were Flour millions of bales of cotton in the South 1 and one thousand millions of bushels of wheat | in the Vest but there was no confidence and l everything Jagged. For over three years | there was depression in everything. Stocks l would rise a bit and then fall lower than ever l until in April, 1877, bed rock was reached | Tt was then estimated that the shrinkage in
 the leading stocks in the street amounted to 1 s2oO OOO 0OO and over a thousand millions of | railway values had gone into the hands of re- | ceiyers The lowest point was reached in | May: 1877, and then began the upward move l ment that has perched the old stocks on sucn
 That Jay Gould has been feeling the mar ket for another fsbreak' for the past six l months is well known. He has lost heavily
 in raiding stocks that still had rise ID them, l but has always been shrewd enough to drsw l ont before he was badly damaged. It was l recently rumored that he was caught by Van l derbilt in selling Northwest short, and set
 tied by paying Vanderbilt $1,soo, 900. He l bides his time He can now command $lO0,- | OOO 900, where in '73 he got together only | $3O. .OOO, GOO. A friend of his told me the l other day that he had a cash balance in the I hank of S14 oOO o00 He is equipped for l destruction as never man was before. With I his vast system of roads, competing with al- most every leading line, he can T l havoc with his American Union tel I epraph company, he has already ham, l mered the life out of the Western Union, and I can tumble it when he pleases. With his I newspapers he can create apprehension. In I 1873, almost entirely alone and in disrepute, he has now hosts of friends and followers. I That he believes the time is ripe for hay I oc can be told from the facts. Union Pacific, | which he created and made valuable. is now
 selling twenty cents higher than it was when
 he sold out of it. presumably believing that :. had reached it's top value. Lake Shore Il is now selling 50 per cent. higher than it was
 when he was selling it short; implying there by that he thought it then too high. So of I St. Paul and Northwest. He believed they
 were too high months ago, and boldly sold l per cent. higher than they were then He will strike them soon with all his force, and
 then see the splinters fly.
 The new grand list of Danbury foots up I $5,407, ,879.
 I The farmers of Greens Farms are agitating
 the subject of a freight depot.
 c. H. Platt superintendent of the Shepaug
 railroad for nine years has resigned.
 I Stephen James, a farmer 6S years of age,
 living on Belden's Hi1l Wilton, had a para ] lytic shock on Christmas day.
 Rev. Charles Symington declines the call given him as settled pastor of the Congrega-
 tional church at Sufheld, but agrees to stay g few months.
 The dead body of John Higgins, of Day vile, was found in the fields Saturday, and
 he is supposed to have been frozen to death while drunk
 Mrs. Frank Russell, of Windsor Locks,
 was knocked down by runaway horse or ssl the sidewalk in front of Pease Bros store on Saturday, Her spine was severely in iured and her left arm and cheek bones wer' broken. There is slight chance for her TO