St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-14
VANDERBILT STOCKS.
Wall Street Busy Specializing on the
Future Of the Dead Magnate's
Millions.
Prospects That the Children viii Be-
come Bulls and Sustain Their
Railway Shares.
Note M ade Of the Fact That Most OF
the Great Operators Are Leav-
ing the Street.
The Story of the Failure of wasb-
fngton e. Conner Pronounced
Without Foundation.
In and Out OF Wall stree,.

In and Out Of Wall Street.
Special to the Globe.
| New YORK, Dec. 13.-The Suns In
| nd-Out- of Wall-Street article tomorrow
will say: The sudden death of William H.
Vanderbilt last Tuesday threw all other
financial topics into the shade. The presi-
dents message which would at any other
time have furnished hundreds of bull and
bear arguments for discussion among the
wise-acres of Wall street, was almost en-
tirely neglected. To stock brokers and stock
operators MI. Vanderbilt and his vast
fortune were personal matters. Every Oh
who ever had a few hundred shares o
stocks took sort of family interest in tn
circumstances of his death nd the DISPOSE
ton of his money. Many people seemed
De personally aggrieI { On Friday nigh
that the will had not been read aloud in tn
corridor of the Windsor hotel as well a
among the heirs. The reason of this feel.
ing was doubtless due to the fact that Mr..
Vanderbits fortune had been amassed in
wan street and was invested in stocks
winch nave always been favorite speculative
mediums. When an A T. Stewart
OF an Astor dles, leaving millions of money
gained by successful commerce or iudicious
NDS'~SO
hut languid interest, but the Vanderbilt
money came out of the street and the street
thinks 1t ought to come back there There
fore the will was of paramount importance
to Wall street, and from Tuesday until Sat
urday the great question was whether the
great property would be tied up, divided
among the children, or settled on one son
alone, as it was before. When the terms
OF the will became known on Saturday at
noon, through the medium of the tape and
THE TISSUE PAPERS,
no one could make head or tail of it in the
fragmentary state in which it necessarily
came, and it was only when it was read in
full in the evening papers that the people
could form any idea of its real import. The
consequence was that if any person who,
not knowing what was up, had en-
tered train on the elevated
railroad while brokers were going up town
would have thought he was in a debating
society of lunatics. There seems to be
really nothing in the will to shake conf
dence in the future of the Vanderbilt stock
IN Wall street. it is said that a family
compact, to act in harmony, has been ar
ranged among the heirs. and with the ex-
ception of Cornelius and William T., whose
residuary legacies are unknown quantities,
none of the others has the ability to throw
a large amount of stock in the market The
amount of stock left among the heirs is
$4,000 Lake Shore, S40.0 900 New York
Central, $780, 900 Northwestern preferred
and $50, 900 Michigan Central, and Of each
of these stocks any individual heir has one
eighth. Hence a discontinued member of
the family could really do nothing. On the
other hand, it is only natural to suppose
that pride IN the great railroad properties
which have been built up would induce
every member to aid in supporting the
stock. Nor must it be forgotten that there
are now eight possible spectators instead
of Zone, and that of those two are so
wealthy as to seem like heroes from the
ARABIAN Nights" while the other six
have fortunes which are greater than any
in this country
BEFORE THE WAR.
The very rich men are being eliminated
from Wall street. Vanderbilt, Osborn, II.
n. Smith, Keene and Heath are either dead
or gone, and Mr.. Gould threatens to shut
up his speculative shop. A new race of
spectators and railroad magnates must
grow up, and they will be obliged
to make the market for themselves.
and no doubt the Vanderbilt bows
will be large factors in any speculation in
the future. 1t is hard to believe that their
operators will not be On the bull side. With
the immense mass of money at their com
mand they will be naturally drawn into bull
speculations, in the sense that
they will be steadily on the look
out for good investments, and will
thus after be compelled to buy low-priced
securities and improve them for the sake Of
getting returns for their outlay Anyhow.
so far, Frederick Vanderbilt is the
only member of that speculative family
who has eyer shown pluck enough
to join the bear ranks, but an
additional ten millions in mans
bank account is likely greatly to change the
temper and disposition OF the man, besides
Fred will probably remember that his father
never forgave him for making money when
all the rest of the family were losing. Ii
appears that the publication of the presi-
dents message and Of Mr.. VanderbiIt's will
did not furnish sufficient occupation for
WALL STREET GosSIP-MoNGERs.
who consequently invented a sensational
story about the failure of Washington L.
| Conner and some serious financial differ
ences which he had with Jay Gould. OF
| course there was not a word of truth
in the whole story, and those who
invented it took advantage of Conner's alb
sence from the city to give it the widest
| possible circulation. The writer has the
| DeSG authority lOF StaLnlS Jnat the
relations of Mr.. Gould and Mr..
Conner have never been better than
they are to-day. Mr.. Conner has
not made any money lately, but he has not
lost any. He did not join the Vanderbilt
Morgan July movement because he did not
believe there was sufficient foundation for
| it, and was thoroughly posted in re-
gard to the attitude of Mr..
! Gould. In Wall street parlance,
they both got Left. but they both left of
their own accord. Jay Gould long ago
made up his mind to quit active specula-
ton. He may change his mind further on,
but there is no indication of it at present.
He is going about Christmas on
desire to be absent several months His
son George is going to take his place in the
| different companies concentrated in the
Western Union building, and it is his
fathers intention to give him SO much work
that he will not have time to to 60 to Wall
street. All reports to the contrary notwith-
standing. young Gould is not going into
partnership either with White, Pearsen, an
anonymous friend of William K. Wander
bilt or any body else. Washington f.
| Conner, on the other hand, is going into
partnership with his brother and is going to
continue the business with his present staff
| of clerks and brokers.