New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-29
PRICE THREE CENTS.
GOULD TO LEAVE WALL-ST.
AN INVESTOR, NoTA sPECULAToR.
TO RETAIN HIS INTEREST IN THREE COMPANIES
MAKING WAY FOR YOUNGER MEN.

MAKING WAY FOR YOUNGER MEN.
Jay Gould will retire at the end of the year
from the stock brokerage firm OF W. Il. Connor e. Co..
with which he has been identified last eight or
ten years For three he has been only special
partner In the firm but his oldest son. j. Could
has had at the time general interest In the bust
ness. MI Gould and his son Will sever their connection
WITH the hrm and practically retire from active partic
patton IN wall street affairs. soon rs his Yacht Ata
lana, can be made ready Gould intends to start on
a long voyage. which may extend over four or five
months. The time for his sailing has not been 0xcd bu.
l. arrangements can be completed he will leave New.
York before January l. He will visit the Wipward
Islands and probably go far South de Janero
During his absence, his son. who is vlce-prssdont
in the companies controlled by Mr. Could will attend to
his business interests, and with this purpose will oc
cupy his offices In tho Western Union building. The
plans OF the remaining members OF the rm Mr. Connor
and g. MorOsni, have not been completed It I'M
derstoOd that the business will continued although
both may remain special partners only the firm
81 have been nearly Twenty-Five years in Wall
Street." Mr. Gould said yesterday speaking OF his re-
tirement. and II is about time, think, that made
way Tor younger and moro active men. I nearly
fifty years old and have earned rest Ny connection
with Wall Street, however has been slight for long
time. sold out all my speculative holdings during
the summer and the change, so far as concerned,
will be therefore hardly change all. year ago I
contemplated this step, but prevented by certain
reasons from takngit There could better time
than the present for me TO dissolve absolutely all
nection with stock speculation. Confidence has been
largely restored and the business OF the country now
rests substantial foundations. cannot be charged
with having abandoned sinking ship for Ihave clung
to through the storm, aud pleasant weather at
tends it,
" shall retain my interest in the three companies
winch hold In highest esteem-the Missouri Pacific aud
the Manhattan Railroad Companies and the West
ern Union Telegraph Company. shall hereafter
devote my whole attention 20 these properties They
are in excellent shane in every way. and shall co
happy in looking after their further development when
| return from my pleasure trip. My interest in them
now is that OF an investor and not speculsor ana
done with everything else. on yes have an interest
in the Wabash Railroad. but the orlanzaton of that
railroad Is virtually assured. the 600 bonds
the assent OF ,364. 900 been obtained am tho
largest bondhoder in the Missouri. Kansas AMI Texas
Company and two other auxiliary roads OF tho
Missouri Pacific system. What say is that the
three principal companies that named Will absorb my
whole attention.
In regard to the opposition telegraph companies, Mr.
Gould said /" | wish to 1t demonstrated whether
opposition company do business our rates and
live. The demonstration clear oug in the 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 drain
continual loss OF 100000 100000 year without
interest on tho investment will weaken the stifest
back in time. We have concluded in the
Western Union Company, at least, that can buy
rival lines but them to prove their rght
to live. do not anticipate between the cable
companies, although there have been many rulnors
about 1t lately"
" It seems To me that OF talk abou; a cable
wat comes from the MIckay- Bennett people II there
should he one however. the Wos,ern Uuiou Te'cg lph
Company would DC affected by it. The business Of
that company steady increase in spite Of tho
opposition and IL II getting the Of last year it
would hardly know what TO d. with the money. To
snow the chances OF an opposition telegraph line. it ia
only necessary say that the receipts all the
panies from purely Commercial business would pay
the salaries of the operators In the the
Union, the majority the operators arc I'm rail-
road Offices. The opposition companies NO railroad
contracts and have pay clean cash for their
salaries.
lido not know whether Mr. Counor and Mr.. Moro,inI
have arranged To continue IN business Thcy may take
IN somo Of the young In the employ of the firm and
contribute only special capital Both nave
money than any has a right to have Mr..
Connor Is worth million a. least ana MI MDrosini TWO
OF three times much The firm Will have my
hearty goodwill IN all its enterprises There
been any Interruption of the good feeling betwecuus
Wall street VIII miss youMr. Gould, and will not Mr.
Sage be lonesome p
" think he Gu ;nt TO follow my example" was the
reply, " for he has to work as he docs Iest
mate him to be worth nifty millions beyond doubt Ho
the second largest stakeholder Missouri Pacific the
'iA'" III IAc anu htcoid or thll'i IN
Western Union Telegraph. l think lie Is not doing a
great deal at present, but he ought to take playing
spoil. as am going to do"
Mr.. Could denied the report that lie had bought the
Ncw-Yorl and New England stock which Mr. Field aud
Nh Vanderbilt have recently soll lie said that hc had
not had any interest IN tEc he
resigned director In regard TO
tho rumors that Mr. Vanderbilt had bought %
large amount OF Manhattan Railway stock he said "I
do not think that Mr. Vanderbilt Owls ownel,a
share of Manhattan There only q small amount
the stock that is not held for tncnt. and
ainly the trJnScI books show signs that he holds
any OF the stock The ruuors are undoubtedly false
The fact is namc has been uscl in the when
there excuse for the minors. ana thar Of
tho things wish to tpe hereafter ~ complete
trciucnt from all SOCK Exchange bu 'iness."