Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1885-12-01
GOULD GOES OUT.
The Greatest Spectator the World
Has Ever known TO Retire From
Wall Street.
ue win Take an Extended Trip, and
Leave business Cnrcs 10
Younger Men.

NEW YORK, Nov 80.--Jay Gould will
retire at the end OF the year from the
stock brokerage firm OF w. u. Common &
Co., with which he has been identified for
the last eight or ten years. For three
years he has been only special partner
In the firm, but his oldest son, George j
Gould, has had at the same time general
interest in the business MIR. Gould and
his son will sever their connection with
the firm and practically retire from active
participation In Wall street affairs As
soon rs his yacht the Ataanta, can be
made ready Mr.. Gould intends TO start on
n long voyage, which may extend over
four or five months. The time for his
sailing has not been liked, but, II arrange
ments can be completed, he will leave
New York before January /. He will
visit wlndwnrd islands and probably go
as far south as Rio de Junciro During
his absence his son, who is a vicC-presi-
dent IN the companies controlled by Mr..
Gould, VIII attend to his business in
tcrcsts, and, with this purpose, Will oc-
cupy his Offices IN the Western Union
building. The plans Of the remaining
members of the firm, Mr. Conner and G.
Morosini, have not yet been completed.
II Is understood that the business will be
continued, although both may remain
special partners only In the new firm.
81 have been ncar'y twenty-five years In
Wall street, Mr.. Gould said, speaking of
his retirement, "and II Is time, think,
that made way for younger aud more
active men. am nearly fifty years old
and have earned q rest. My connection
with Wall street, however, has been slight
for long time. ! sold out all my specH-
latlye holdings during the summer, and
the change as far AZ | am concerned will
b. therefore no change at all
CONTEMPLATED FOR SOME TIME.
"a year ago | contemplated this step,
but was prevented by certain reasons
from taking 10. There could not be Il bet
ter time than the present for me TO dis
solve absolutely all connection with
stock spcculatons, ! cannot be CHARGED
with having abandoned n sinking ship,
for have chung TO II through the storm,
and pleasant weather now attends IL.
~ shall retain my interest in the three
companies which hold in highest 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
| looking after their further Developments
when / return from my pleasure trip.
| My interest in them now is that of an In.
weston, and not n Spectator. am done
with everything else. Oh, yes; | have an
! interest in the Wabash railroad, but the
reorganization of that road Is virtually
assured. OF the $4,000 900 bonds the
assent Of Sl5,3Gi, 900 has been obtained.
| | am the largest bundholder in the Mis-
souri,, Kansas & Texas company, and one
or two other auxiliary roads of the Mis-
souri, Pacific system. What | mean TO
say is that the three principal companies
that named Will absorb my whole at
tcntion."
In regard TO the opposition telegraph
companies Mr. Gould said: 81 wish TO
see 1t demonstrated whether an opposi.
ton company can do business Mt 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 cases The
Baltimore and Ohio company has Il longer
purse, but the drain Of continuous loss
of 100000 or 100000 year, without
interest on the Investment, will weaken
the stiffest back In time. We have con.
Guided, in The Western Union company al
least that we can not buy up rival lines
but must allow them TO prove their right
to live. do not anticipate any war be.
tween the cable companies, although there
nave been many rumors about il lately
II seems to me that most OF the talk
about cable war comes from the Mack.
ny-Bennett people. II there should be
one, however, the western Union Tclc.
graph company would not be affected
by It.
NO SHOW FOR THE OPPOSITION.
"Fhe business Of that company shows
n steady Increase, in spite of the opposI.
ton, and If it was getting the rates OF last
year. 1t would hardly know what To do
with It's money. TO show the chances OF
an opposition telegraph line, IL is onl,
necessary To say that the receipts of ali
the companies from purely commercial
business would not pay the salaries OF IN,
: operators. In the case OF the Western
, Union the great majority OF the operators
are In railroad Offices. The opposItior
companies have no railroad contracts
anu so nave To pay out clean cash for Mi
lheir salaries. do not know whether Mr.
Conner and Mr. Morosni have arrnngro
, To continue In business. They may Tux,
IN some OF the young men in the cmplo,
OF the firm and contribute only snecln'
, capital, Both have more money than
any man has right to have. Mr.. Con
nor IL worth million, at least, and Mr..
! Morosin two or three times as mucb
0 Ihe new firm will have my hearty good
VIII IN all It's enterprises There never
mas been any interruption OF the good
, feeling between u.s.
wall street VIII miss you, Mr.. Gould,
ana VIII not Mr.. Sage feel loncsomcY"
: ~ think he ought to follow nv OK.
l ample was the reply, "ior he has ma
need to work as he does estimate him
TO be worth s50,oOOOOO beyond a doubt
I've u the second largest stockholder In
, thc Missouri Pncifc, the third Ia ne Man.
haitian railway and second or third IN
western Union telegraph. | think he /.
hot holng great deal at present. but n,
UuSnt TO take playing spell as am 20.