Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1883-09-06

great many years ago resigned the
Presidency of the New York Central
Railroad, because he said he was con
WINGED that it could not earn a per
cent dividend, and he went into the
NORTH WESTERN COMPANY
and bought hugely. His widow to-
day, would be poor, but for her broth
er-in-law, r. P. Flower, who told her
ii sell in 1878, and to buy back when
/ the stock went up again. They sold
down to fifteen and twenty-five cents
on the dollar. Old Mr.. Garner, who
broke here years ago, sold puts at par
! on st. Paul for the term of his natur-
/ al life. vet the stock sold at twelve
cents on the dollar, and it broke him.
He thought the country yrs growing
faster than the railroads could grow
SIS not the Lake Shore railroad pay
ing large dividends?"
Yes, but look at the figure it cost.
In order to keep those dividends up
the Nickel Plate railroad had to be
suppressed at a profit of S13, 900, 900 to
its piratical builders. If the Nickel
Plate was running now how much
could the Lake shore pay? Mr.. Van
derbilt on representations made to
him by Mr.. Burke and Mr.. Devereux,
bought that property, and it was one
of the signs that he confessed there
was something in competition"
Said /: "What has become of the
OREGON SHORE LINE
which Sidney Dillon undertook to
build in Oregon?"
"Why, it has been abandoned after
having cost nearly $12, 100000 There
was nothing whatever to run to or
through. That whole Pacific region
west of the Rocky Mountains has only
about million and half people"
How is Western Union?"
Jay Gould owns the controlling
interest. There are eighty millions of
stock IN the company, and opposition
is springing up at the different points
in the compass. Gould's property is
in that telegraph, III the Missouri Pa
cific and in what we call cats and
dogs. He is a phenomenal man, and
l never saw a phenomenon that did
not expire. He has never been a man
who made his stock operations on
| knowledge of physical acts. The
street is full of "reminiscences where
he made almost impossible errors.
! For instance, he was short of ten
! thousand shares of New York Central
stock for ten years, and was all that
time paying the dividends, and pay
ing for the loan of the stock, too. He
sold it at 90 and bought it back at 125,
and paid the dividends five or six
years.
What is the condition of
RUSSELL SAGE?"
1.-The impression in the street is that
Sage is Respondent Gould, two
weeks ago, wanted his assistance, it is
claimed. Sage will finally regret that
he ever went into the business of priv
ileges. He has puts out now on $780,
600 shares of different stocks and will
probably lose plenty of money"
Can you tell me, [ asked, "where
vANDERBnT's MONEY,
[ mean the old mans money, is now
invetsed?"
He has $4,000, 900 in government
bonds left He has 500, 600, 900 in Lake
Shore and New York Central, proba-
bly, more of it in Lake Shore. He
has $40, 900, 900 in Northwestern stock
and bonds. He has stock in the Red
Line and other freight companies He
has something in Michigan Central
I estimate his wealth at from $780,
600, 900 to $200,000,000.
Another person in Wall street said
to me: The condition of the street
is just this: There are hardly ever
over three hundred thousand shares
of stock sold day, and when it runs
up much higher than that it is be-
cause there is big bear market, and
great quantities of stock are being
thrown out to be sold Liquidation is
going on remorselessly. Men who
have been in the regular business of
building railroads to sell to the public
had to let go, too, When there..is any
activity on the street now it is on a
bear market, and all the activitvther
formerly was existed ON bull mar
ket."