Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-14
AN AMERICAN PRINCE.


SOI-l.
Does wealth confer royalty? It certain
y gives regal power. The royal sovereigns
and princes of the petty municipalities Of
Europe are dwarfed, if not by our million
aire merchant princes" certainly by our
railway kings" Jay Gould is a prince OF the
modern railroad regal regime. In addition
to al his other vast possessions, the state
of Missouri is a Principally of Jay Gould.
He controls q corporate capital IN that
state Of S120,000,00C, and his subjects, his
employees, number $4,000! Such vast cor
porate wealth in the hands OF one man, OF
II that OF syndicate controlled by him,
can but give Us pause can but cause us TO
stand amazed at this rapid concentration
of wealth, with all its consequent controu-
ing power and influence, and forces the
question, ''where viii all this erd:" A St.
Louis telegram says:
Confirmation of the report that Jay Gould
and his syndicate had secured control of
the Hannibal & st. Joseph railroad caused
much comment on Change to-day and in
business and legal circles. The constitu-
ton Of Missouri and the revised statutes
prohibit the consolidation of competing Or
parallel lines. They also provide that no
railroad corporation shall Hin any way
control any railroad corporation owning
or having under its control parallel or
competing line, nor shall any officer OF
sUch railrord corporation act as an officer Of
any other railroad corporation owning or
having the control Of q parallel or Compel
ing line. The question whether railroads
are parallel or competing lines shall, when
demanded, be decided by jury"
Leading lawyers say that it is plain that
the trainers of the constitution and statutes
of Missouri intended to forbid and prevent
the very thing which Jay Gould and his
associates are doing; that by his late pur-
chase parallel and competing lines, or lines
which have been competing lines, are sub
jected to the control of joint ownership,
which puts competition out of the cues
ton, except when.it is resorted to for the
purpose of playing the lines alternately
against each otherin aid of stock jobbing
speculations. They add that it is about
time to ascertain whether the law can be
eYaded in this manner, and that even if It
reached Mr.. Gould It must be enforced
This purchase gives Gould another hold
ON Missouri. He now absolutely controls
Joe. and the ST. Louis, Iron Mountain d
Southern railroads, and is heavily interest
ed in the Wabash and the st. Louis & San
Francisco. It is impossible to Set at his
exact interest in the latter roads, but it is
heavy enough to bring about his election
as director of each one of them. The big
bridge is also controlled by him, being
leased TO the Missouri Pacific and the Wa
COMPANY. with stock of $25,50O 600, is
also In his hands. He is absolute owner
OF the Union depot, and is q heavy stock
holder IN Tie St LOUIS Ore and Steel com
pany, which is a consolidation OF the Vul-
can Steel company the Pilot Knob Iron
company, and the Grand Tower Mining
and Transportation company, the consoli-
dation having been brought about by
Gould's announcement that he was about 70
locate steel works here. he is large stock
holder an the National stock yards, and
has big share III the capital of the Equit-
able Life Insurance company, which Owls
the life insurance building, one OF the fin
est business blocks IN the west. More than
a year ago Gould got hold OF the river in
terests, he purchasing most of the Henry
Lowrey line, and soon after consolidating
it with the Mississippi Valley Transports
ton company. Neither has done much
since in competition with railroads. He
also owns elevator "Dn on the river front
and has q membership IN the Cotton Elk
change. He now controls ct least 1920,
On0.OO0 of corporation capital IN Missouri
and $4,000 employees. He holds IN Iii
power nearly every railroad that is i'm
portant as a feeder to the great cities Of th'
state,
As the chairman of the Democratic stat
committee is one of the Gould line ,attor
neys, and the Oldest and leading Demo