Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-09-05
JAW GOUld,s Career.
THE STORY OF HIS LIFE TOLD no THE SENATE LABc
CoxMITTEE-FIKST cow BOY, THEN SURVEYOR
ASSISTANT AT so A MONTH

THE STORY OF LIFE TOLD To THE SENATE LABOR
CoXMITTEE-FIRST A cow BOY, THEN A SURVEYORS
ASSISTANT AT $50 MONTH.
NEw YORK. Sept. 5.-SenatorS Blair and Call
waited patiently for Mr. Jay Gould to appear be-
fore them this morning to stify as to the rela-
tions OF capital and labor. large audience was
In Attendance. He was sworn. and Senator Blair
requested him to give history OF his early life
ana first bu iiness adventures and then 60 on and
give the story OF his progress to his present con-
dtion. Mr.. Gould seemed 10 be somewhat stag.
ger-d at the request, but turning with smile to
~ was born" said Mr.. Gould. at
Roxbury. in Delaware county. in this state, on
kept twenty cows Which assisted IN tending lsin ana
attended school about Is miles distant, and when
l was about fourteen years old obtained situa-
much interested in mathematics, and usei to get
up at O'Clock In the morning and study to 6,
when the store was opened / remained in the
OF surveyor who was making a survey OF Ulster
county. He took me into his service at a salary
OF ta0 month. l learned that my employers
credit was not very good, and l was to obtain
no pay for my work until the map was
completed, so that 1 made sun dals for the
farmers at 81 apiec' to pay my running expenses.
l made surveys Afterwards or Delaware and Al
banv counties. and made in these contracts about
with Mr.. Pratt, of Prattsvie, and nnalIy entered
into partnership with Charles NJ. Leupp, who
committed suicide.
HIS FIRST RAILROAD.
The first railroad with which had any connec-
t1on was what Is now portion or the Rensselaer,
and Saratoga, of which I was superintendent.
During the panic OF SO the stock went down very
low. and was able TO buy In a Large amount OF
the stock, which afterwa ards rose In value and
made me handsome profit"
The next road in which he said he interested
himself was the Cleveland and PiItSburg, which
he afterwards leased to the Pennsylvania road.
tion with the Union Pacific road. As he had In
terested himself in 1t, and the stock was falling,
he made up his mind to carry it through at any
cost 1t was on the point OF being placed in the
hands OF receiver. Afterwards, when the road
became paying one. and dividends were declared
fegqiarly; "a there was great cry from the public
gerous thing. He said, however, that he was then
engaged in selling out his stock. which was soon
ors. representing the earnings Of many widows
and orphans. This ended his connection with
the Union Pacific. and the stock was now higher
than when he sold tt The next venture was the
building of
THE GOULD RAILROAD SYSTEM
In the south and west 1t began with purchase
of the Missouri Pacific from Commodore Garri.
son. Other roads were purchased and connec-
tions were made to different points. Mr.. Gould
said that he had at this time passed the point
where money-maktng was an object. and his only
idea was In carrying out the system to merely see
now spread through Ohio. Illinois, Indiana. Mich
Texas, Louisiana and Mexico. There are central
New Orleans. All the construction OF this system
OF roads was completed last year and repreS~ nted
oes m neS ino OF foaa me eapnngs OF dne
$4,000 month. The earnings for the past month
were s. SOC, 00O In building UP this system the
southwest has been opened up AMI the country
thrown open to civilization. Mr.. Gould stated
that he was direct Tor In the Chicago North.
west, Chicago Rock Island, Delaware, Lacka-
wanna & Western, New York New En- gland an
several other smaller lines. Incidental to his
railroad interests he had become largely inter-
eSted in
THs TELEGRAPH BUSINESS.
This was on account OF the Intimate connection
between the two industries He was inst rune mt al
In starting the American Union to make II a COM
peting line with the Western Union. He found
that 1t would be impossible o accomplish this on
account or the extent OF the latters connections.
he then turned his intention to getting control
Western Union by buying stock when
1t was low. Finding 1t a payfng In
vestment he had been constantly increasing his
the Western Union was to m Ike his friend Gen.
Eckert, the manager. as he had great confidence
In his business ability. The railroad facilities
which are now acquired by the Western Union
are invaluable. and 1t Is impossible to estimate
their value.
Mr.. GouLD's OPINION OF THE POSTAL TELEGRAPH.
.Can you give US your opinion as TO the practi-
cablllty OF government postal telegraph which
would take the place OF the present system, Mr..
Goqld?" inquired Senator Blair:
Psd 2 any eouia euia 'naE pus
ness, more than any other, requires TO
be managed by experts, and the dividends OF the
business well. Under q government system the
whole managements OF these great interests
would be subject to chance aud the particular po.
nttcal party then in power" Mr.. Goul1 also
thought that the mail service would be better ac-
complished by private enterprise than Dy the gov
ernment
Mr. Gould was sttn before the committee when
our report closed.