Omaha daily bee., 1883-04-26
WALL STREETS YOUNGSTERS.
Old Stock Operators to Give
Their Sons a Chance"
The Youthful Goulds and Van
derbilts to Try Their Hands
in Managing the Market.

tOh oAhbo W. ASss
in Managing the Market.
Boys who Have a Good Financial
Start in Lite.
New York Star.
81 shall leave or q western and
southern trip next Monday" said Jay
Gould yesterday, land early In the
autumn I shall start on q yachting
cruise around the world. ! shall alb
stain from active business for q full
year, and upon my return from Eu-
rope I believe that all such securities
as Missouri, Kansas & Texas, Pacific
and Wabash-now regarded al specu.
lative--will be on q dividend raying
basis. This will be brought about by
the natural development of that Sec
ton of county. During the same
Western Uniou on Its increased bust.
nets will be q paying . dividend Of 10
per cent end will eGrn every dollar
Of It. The East Tennessee, Virginia
ana Georgia securities continue to be
bought my brokers and senior broker
1t Is noticed that the room trader
raid this stock whenever they pare to
do so, in order to prevent q rapid ad.
vance. Several large blocks have re-
Gently been transferred, and 1t is alto.
gether likely that these securities will
soon begin to show the effects of large
purchases by parties back Of the oom
bination. This combination Of south
ern roads which will soon be made, Is
far mi re extensive than was first con-
t%emplsted. 1t Is known that several
parties controlling outside southern
roads have been asked to part
with a controlling interest (mean.
Ing the ErIanger syndicate, which con.
trolls / 400 miles of Southern railway,).
l expect . very handsome profit on
present prices when the developments
are fully known. Daring my absence
In Europe my business will be entirely
In the hands Of my son George"
This probable retirement of Mr..
Gould, who is the acknowledged leader
In Wall street to-day, was followed by
the announcement that his chief rival
In the speculative world, William II,
Vanderbilt, Is also arranging his
busio ess affairs, with q view to spend
Ing the remainder of his days In q
quiet and less disturbed manner,
and to place the burden CT his
heretofore great lsbors upon the
shoulders Of his sons, who, he thinks,
have abundantly shown themselves to
be apt scholars and capable to assume
the responsibility. Especially Is 1t 30
with Cornelius, his eldest son, who is
regarded by his father as very conserv.
alive. Cornelius Is rather piously In.
clined and carries somewhat Of a sane.
timonious countenanoe, while William
X. Is quite the reverse.
she is more speculative and go
aheadative than his elder BROTHER"
said q we'll kaown New street broker,
who Is an intimate friend of the fami-
ly. "Ho is moro like his grandfather,
the Commodore, not eaaily frightened
at figures in copnett ton with Wall
street operations.
"Then you think the elder Wander.
bilt proposes to retire from active
b~usines,T"
II know that no docs. Mach Of
the stock speculative business which
Is now attributed to the father lie
really In no way connected with him,
but 10 exclusively oon6ned to tho
dealiogs of the boys. They employ
the same brokers who formerly done
the business of the commodore, and
sinos Of William a. and for this reas-
on 1t often creates ar impression that
all purchases and sales are made for the
account of the father"
"How do these Toys carry on their
operationtT'
Their dealing are largely confined
to the roads under their management
New York Central. Lake Shore, Can.
ada Southern, Michigan Central,
Northwestern and Omaha. They
seldom visit Wall street, but carry on
their operations by private wires from
the Grand Central depot, or from
offices In that immediat neighbor.
hood. In Lake Shore they have made
big money, and In ell their deals have
been successful. Their operations are
sufficiently large and bold to carry
them to . successful termination, and
this, in reality, was tho secret Of the
oommodore's great success"
"How did the Vanderbilt boys get
their start In life2"
"Whilo the commodore was living,
the Vanderbilt boys we're scarcely
heard Of, and William II. was kept In
the background, owing to the imperi.
ious and autooratio manner Of tho
commodore toward his family and all
his relatives. Especially was this the
case with his sons.in.law. James M.
Gross, fine looking and
worthy gentlemen, married the
eldest Vanderbilt girl, and shortly az.
forward wa mxious to embark In
business. At that time the safest and
most profitable business was known %
the leather trade In the Swamp dis
trict. Mr.. Orois found q man e1per.
fenced in that line who impressed him
SO much with his ability that Q part.
nership was concluded, q store was
rented, clerks were negotiated with,
and all that We wanting was the
SOC, 900 which Gross was to furnish.
BE called upon the Commodore, laid
his plans before him and asked for the
money. The Commodore asked:
"'James how much do you think
the new business will make for you In
q year If l should advance the $780,.