Savannah morning news., 1885-12-03

Mo de Janeiro.
During ms absence, his son, who is a
wee Fresldent in the companies con-
trolieu by Mr. Gould, will attend to his
business interests. and with this purpose
VIII occupy his offices in the Western
Union building. The plans OF the remain
ing members of the firm, Mr.. Connor and
" = moFosini, have not been completed.
| ~ Is understood that the business will be
eohuheed; although both may remain
| JSpf g al paItners only in the new firm.
tc II AeNe been nearly 25 years in Wall
street, Mr. Gould said yesterday, speak
ahs aHs5, S s u E.9S retirement, and it is
\ way lQr Younger and more active men. l
am near ] 80 Years old, and have earned
a ERsti Y NJ GQBNt c ton with " all street,
| lh1oWeyer has been slight for a long time.
! sold- out an my speculative bOldlngs
during the summer and the change, so
lar as l am concerned, will be therefore
/ th2rdlyN ~ change at all. A year ago l
contemplated tbls step, but was pre-
Vented Nv. 1..S.eetaiA-reasOus from taking it.
There could not be a better time than the
present for me to dissolve absolutely all
unnectFon with stock speculation. Com
hdencel has Been largely restored, and
| the business of the country now rests on
SUBSTANTIAL foundations. | cannot be
! charged with having abandoned a sink
hz siiLps for NhaVe clung to it through
the storm, and pleasant weather now at
| tends it, %IA-b@. y
~ shall retain my interest in the three
companies which hold in high esteem
the Missouri Pacific and the Manhattan
Railroad Companies and the Western
! Union Telegraph Company. / shall here
after devote my whole attention to these
! properties. They are in excellent shape
In every way, and l shall he happy in look
Ing after their further development when |
return from my pleasure trip. NV inter-
| est in them now is that Of an investor and
not Speculation. l am done with every
thing else. Oh, yes, nave an interest in
the wabash railroad, but the organization
OF that railroad is virtually assured. OF
the $l6,O0O,000 bonds the assent of S15,.
1000 has been obtained. l am the larg-
est bondholder in the Missouri, Kansas
and Texas Company, and one or two other
auxiliary roads OF the Missouri Pacific
system. What | mean to say is that the
three principal companies that l named
will absorb my whole attention.
In regard to the opposition telegraph
companies, Mr.. Gould said: 81 wish to
see 1t demonstrated whether an Opposi-
tion company can do business at our
rates and live. The demonstration was
clear enough in the case of the Bankers
and Merchants Company, and it will be,
| | think, equally clear in other instances.
The Baltimore and Ohio Company has
longer purse but the dram Of a continual
loss of $600,000 or 100000 q year without
interest on the investment will weaken
the stitfest back in time. We have con-
cluded, in the Western Union Company,
at least, that we can not buy up rival
lines, but must allow them to prove their
right to live. | do not anticipate any war
| between the cable companies, although
there have been many rumOTs about it
lately"
"It seems to me that most Of the talk
! about a cable war comes from the Mackay-
Bennett people. If there should be one,
however, the Western Union Telegraph
| Company would not be affected by It.
The business Of that company shows a
steady increase In spite of the opposition,
and if it was getting the rates OF last year
it would hardly know what to do with the
money. To show the chances of an OppO-
| sitiOn telegraph line, it is only necessary
| TO say that the receipts of all the COM
panIes from purely commercial business
| would not pay the salaries of the Oper.
ators. In the case of the Western Union,
the great majority of the operators are in
railroad offices. The opposition COM
panies have no railroad contracts, and so
have to pay out clean cash for all their
salaries.
81 do not know whether Mr.. Connor and
Mr.. Morosini have arranged to continue
in business. They may take in some Of
| the young men in the employ OF the firm,
| and contribute only special capital. Both
| have more money than any man has a
right to have. Mr.. COnnor is worth ST.
/ 600, 600 at least, and Mr.. Morosini two or
three times as much. The new firm will
/ have my hearty goodwill in all its enter
] ho
ruption of the good feeling between u.s."
Vail street will miss you, Mr.. Gould; ;
and will not Mr.. Sage be l0nesomeW
al think he ought to follow my ex-
ample" was the reply, "f0r he has no
need to work as he does. / estimate HIM
to be worth fifty millions beyond a doubt.
He is the second largest stockhOlder in
Missouri Pacific, the third in the Man
haitian railway, and second or third in
Western Union Telegraph. l think he is
not doing great deal at present, but he
ought TO take playing spell, as / am
going to do"
Mr.. Gould denied the report that he had
bought the New York and New England
stock which Mr.. Field and Mr.. Wander
bilt have recently sold. He said that he
had not had any interest In the road since
be resigned as a director. In regard to
the rum0rs that Mr.. Vanderbilt had
/ D0ugnb large amount Vi mama tan Iaii-
way stock, he said; 81 do not think that
Mr.. Vanderbilt owns, or ever owned, a
share OF Manhattan stock. There is only
small amount of the stock that is not
held for investment, aud certainly the
transfer books show no signs that he holds
any of the stock. The rumOrs are un-
doubtedly false. The fact is. my name
has been used in the market when there
was no excuse for the rumOrs, and that
is one of the things wish to escape here
after by a complete retirement from all
Stock Exchange business"