St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-09
PUBLIC OPINION.
JayGouId on the Dead.

NEW YORK, Dec. s.-Jay Gould, in an
Interview with a reporter Of the Associated
Press this evening, said:
'.Mr Vanderbilt S death was certainly sur
prise to me, and a sad one, too. His death
will be great loss to the world Of business
ami finance for he certainly was the foremost
figure in many of the greatest enterprises
that have been carried out in this country
during the past TWENTY-FIVE years.
You have been Intimately acquainted with
Mr.. Vanderbilt for many years, have you
not?' asked the reporter.
II first became acquainted with Mr.. Van
derbilt in 1867. At that time l was president
of the Erie railroad, and he was vice presi-
dent of the Hudson River railroad. I found
him to be man of wide resources and sound
Judgment Afterwards he became vice pres
ident of the New York Central, and figured
extensively in the building up of the business
OF that road Our relat.on up to the time OF
his death had always been of pleasant
character"
What is your opinion Of Mr.. Vanderbilt as
financier?
Il have for many years considered Mr.
Vanderbilt as nun Of unusual ability in
the management of large financial interests.
When his father died and he came into pos
session of his vast fortune, Mr.. Vanderbilt
was not long in demonstrating his ability to
manage the property which had been en-
trusted to mis- care. He made no move upon
the checker-board of finance until he was
satisfied that his move was safe one to
make. He would not run q great risk unless
he was absolutely forced by circumstances,
which, assure you. was not very often.
HIS JUDGMENT UPON VALUES
was always sound Few men have made so
few mistakes in the handling of nominal in
terests as Mr.. Vanderbilt. He was not bold
adventurer or operator. He seemed to be
satisfied with small, at least fair, return
from his investments, so long as they were
sound"
Gould you give me an estimate OF Mr..
Vanderbilts wealth"
NO do not think am able to give any
thing like a fair estimate. although l have
known him in business way for long time.
1t is quite certain, however, that he was by
far the wealthiest man, not only in New
York, but in the entire country. He always
maintained a reticence upon the value OF
his own property. Boosting in that line was
wholly beneath him. l never hoard him so
much us intimate the extent of his fortune" "
what effect will his death have upon the
stock market, and especially upon the stock
of the New York Central ralroad?'
''It will be safe to say that his death will
have the effect of depressing the market, es-
pecially in those stocks in which he had large
holdings. These are the New York Central.
Lake Shore, Michigan Central and the West
Shore roads. Mr.. Vanderbilt held only
So O0O, 600 out of the $780, 900, 600 of the stock
of the New York Central. The most of the
stock is held by capitalists in Europe. You
can see that his holdings of this stock were
smaller than was supposed by many. The
death of the financier will not, l am quite
certain. have other than temporary effect
in depressing these stocks. The property is
all coed and reliable as Investments. If the
market values Of these stocks fall off a + e y
points tomorrow they will go back again to
their original value in few weeks. Should
Mr.. Vanderbilt's holdings be thrown upon the
market, there are plenty of capitalists who
would be glad to purchase them at fair
fgure.''
OTHER OPINIONS.
j. Pierrpont Morgan said that Mr.. Van
derbilt's death would have little or no eff
feet on the market; that the West Shore
negotiations would go on as before, and
that cablegram had been sent to London
with the information of his death which
no doubt would be received there with a
great deal of regret Pool Commissioner
Fink said that Mr.. Vanderbilt's death
would have no effect on the pooling, as he
had been out of the arrangement for some
time. No doubt the death of such prom
inent man would be felt as great loss by
the mercantile world. Mr.. Henry Clews
said that Mr.. Vanderbilts death no doubt
would have some effect on the market as it
would be used by those who always sought
to make capital out of a calamity, but that
this would be of serious character there
was nothing to fear.