Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1886-05-10
JAY GOULD'S PLAN.
An Interesting Little Railroad Episode
May be Looked for Soon In
Wall Street.
Speculation In Rakirend stocks Dangerous
at the Present Tine-"rown
Topics" Creates Furor.
special Correspondence OF tho Gazette.


IN Wall street. Jay Gould, who has OF |
late been shielding himself behind Vice
President Hoxie Of the Missouri Pacific
and his son, George Gould, and caused
II to be reported that he is anxious 10 re-
tire from active railroad business as well
as from Wall street speculation, is prob
ably as deep IN mischief 40 he ever was
before. The Philadelphia reorganization
committee OF Texas & Pacific appear
really to represent but one interest out OF
the five involved, and Is absolutely CON
trolled by Gould This interests that OF
the Eastern division Of the road alone, the
other four being the Rio Grande division,
the New Orleans & Pacific divi.
sion, the income bonds and the
stock. Gould's Eplan brought for
ward by the Philadelphia committee Is to
| scale all the bonds In favor Of the Eastern
division, and to torce the stockholders to
| give up three shares Of the old stock for
one share OF the stock of the reorganized
company. BY that means the present
holders OF both bonds and stock would be
most successfully frozen out. Gould and
his associates first bought the Texas &
Pacific from Tom Scott II con
sisted then Of the Eastern d.
vision solely Gould began az
once to build the other branches through
construction companies, organized and
managed by himself Stocks and bonds
were issued on these branches to the
greatest possible extent, and after having
marketed these securities, and pocketed
therefrom enormous profits, Gould de-
clared the lines utterly yalueless, aud
tries noSto squeeze out the securities,
for the issue OF which he and his associates
are alone responsible. The stock of the re-
| organized company, which will be secured
II this squeezing process issuccesstul, is In
all probability intended ultimately to find
its way into the Missouri Pacific treasury,
which, OF course, means Gould's pocket.
The road Is the most important feeder OF
the Missouri Pacific, in which all the
Southwestern interests OF Gould are con-
centrated The security-holders, how
ever, intend making hard fight for their
rights, and they seem TO be likely to re-
ceive the assistance Of Mr.. Russell Sage.
Old Sage has large interest both in the
Missouri Pacific and In the Texas Pacific,
but 1t does not seem to TT bis books to
have one OF his tin boxes cleaned out
with the distant prospect Of something
being added to the contents Of another,
The fight bids fair to be lively one, and
If the average Wall street broker doesnot
gain anything by 1t, he will at least have
some fun,
Since the beginning OF this year Wal
! street affairs were only dull, but they be
, gin now to be dangerous. Wild huctua,
lions are created for the securities o
! very uncertain concerns. Woefishonei
r is pushing the st. Louis Texas bonds
and stocks almost as vigorously as M
pushed Denver s. Rio Grande TO Sll4 I
share, and the lambs who bought saw |
subsequently below $40 q share, TIL,
: Consolidated Gas stock fell in three Day
. from ITO to 95 and had only partial re
covery. In the Richmond Terminal an,
!, Richmond & Danville stocks O good dea
y Of monkeying is also noticeable. sullN
old Spectator who is constantly hangin
over the tape Of his brokers' Office sal
> the other day the Richmond & West Poln
Terminal stock drop some per cent. l
!, less than three hours, and cynically II
y marked: "Do the Richmond & d. an
:, Richmond & r. people want another su
= eide In handling their stock this wayp
Upon a green member of the speculativ
y fraternity asking him what he meant b
another suicide, his answer was; "Thi
valuable security gave the first whack
= poor old Wilcox, who shot himself tn
other day."
!, A great deal Of apparently indie
% nant talk has OF late been indulge
II in In regard to weekly paper Gale
Town Topics, which Is weekly paper
personalities, and which never pretende
ID 10 be ANYTHING else. A young man by u
m name of Paul Potter took some time ag
" editorial charge of 1t and published ever
week some very lively paragraphs In r
gard TO the Hupper-tendom." The pap
was freely bought and seemed to emui
its readers, until club growl was startt
that the paper was an outrage on eve
A. decent member of society, and althout
n II is probably read as much as before,
Oh is done on the sly, for some Of the clu
have boycotted It and the so-called soci
"a. ty men and women pretend never to ha
10 seen IL or heard of 1t. The cause OF
nv this Is, as usual, the hearty wish OF u
~ newspaper reader TO see other pc
~ -, pie blackguarded, but not themselves
~ any of their friends. | took the trout
I'M to 70 through half dozen OF the Ia
~ issues of the paper, and round put Q
W paragraph which was positively oblectio
~ able on account of It's indecency, whl
y, was palliated only by the fact that I
20 paragraph was pIlhteu IN ntonNh, ~
oi that consequently nine out OF ten reade
Ins aid not understand its meaning. In me
~ of the other so-called spicy squios the
lls was nothing offensive except TO indiyi
ne nails to whom allusion has been mao
IS But there is too much OF the society pr
". tectiye humbug going on nj the press
els New York. II bar-keeper' a gamol
les or an actor gets into some divorce
ny breach Of promise trouble several G.
We umns about the affair appear In aim,
an, every daily paper, but u son OF ,
uai August Belmont gets into dlyot
: scrspe II is kept out Of all the papers
means OF occult influences. What TOY
IN Topics tries to do is TO pick up scand'
II which are kept out OF other papers, q
- some OF which prove to be but Z
70 stories 20 those who know anything u
! 4 is going on. ,,o. /,
Society scandals are alarmingly on !
increase, and the most efficient way
reduce them is TO make their public
ak certain. Here is, for instance, new
or. lie affair about which most people
~. considerably at sea. At receut recS
40 tIon IN washington senator, not ir'
ON. wicked New York, was escorting la'
w the wife OF a well-known naval ONO
a. mr.