The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-03-14
NEW YORK FACT AND FANCY.
The Brokers Firm in Which Jay Gould Is
Interested all-Street Magnates.
Mrs. Harvier's Weekly Resume of Society
Matter in the Metropolis -Nym
Crinkle's Dramatic Feuilleton.
Written for the Indianapolis Journal.

'tistcn AoA tho AnuldHdpOno JouIudi.
"Rfgo1os" Wall Street Letter.
1t would be idle to attempt to write something
worth the readers attention in regard to the
speculation in Wall street at the present mo-
ment There is no speculation, and viii be none
till the strikes of the Reading syndicate, the
Transcontinental war and the exports of gold
have assumed clearer aspect The trading at
the Stock Exchange is now mere petty gamble
between brokers who try to make living out of
each other.
There has been within the last four or FIVE
months great deal of talk, both in and out Of
Wall street. about the breaking up Of the old
firm of w. E. Conner & Co.. and the change
which was supposed to have occurred in his per-
scral relations with Jay Gould and Morosini It
was reported that fierce quarrel had taken
place among all of them; that Conner was caught
desperately short in July and August, and that
Morosin was seriously crippled by the loss he sus-
tanned in the failure of VIM Heath & Co. Apart
from that it was said that the health of his wife
was SO affected by the runaway of the daughter
that he had decided to leave New York and 60 to
live in California. Of Conner it was, on the
other hand, repeatedly said that he was going to
make an assignment. 1t has turned out since
that there was not word of truth in all these
rumors; that the personal relations Of Gould,
Conner and Morosini are as friendly as they
have ever been; that Morosini never intended to
leave New York except for short trip, for the
benefit of his wifes health Ia trip which the lady
has since given up) and that the firm of W. E.
Conner q Go. is as strong as ever. although
possibly, it may not do as large business as
when Gould was special partner in it.
The facts in regard to the breaking up of the
old concern begin to leak out, and are now given
here for the first time
The firm of w. E. Conner & Co., and consist
ing of Conner, Jay Gould and Morosini, was
started in January, 1879, when the famous Bel
the efforts, mainly, of "Wash" Conner, Jay
Gould was saved from absolute ruin. That was
not the first time that these two men came to
Gould's rescue. Morosini was with Gould for
seventeen years, served him with loyalty
which was the admiration of men who had even
been ruined by Gould. and who, consequently,
considered Morosini as his accomplice. 1t was
Morosini again who, when in the Erie Railroad
Company, saved Gould from State prison.
Again, in the bank panic of 1884, it was Conner
and MorosiEi who saved Gould from most dis
astrous collapse Immense loans of his had
been thrown out by the banks and he found
himself unable to carry his heavy loads of secur-
tiles. He told Conner and Morosini that he
hoped they would stand by him and help him.
They answered that they would told him not to
come down town at all, and Strengthened out every
thing. 1t was at that time that George Gould
first showed his hand. His father took him into
the Office of the firm in 1881, when he was mere
boy of the most elementary education, and without
any idea of business matters except what he OBJ
tanned from conversations with his father, and
derived from occasionally travelling with him
over the so-called Gould system of railroads.
But George was always ahandsome boy, and the
home influence of a most worthy and ladylike
mother made of him young man of very pleas
ing manners. He was at first favorite with
everybody who came in contact with him. wheth
er it be at his fathers office, at the now deceased
Turf Club. or behind the scenes of the theater.
He continues still to be what is called a young
man of fine address by outsiders, who call for
him to talk on matters of business, or whom he
meets in the park or at the Racquet Club. But
1t is now several years since he began to show
his claws in the inner sanctum Of his fathers Of
fee. For the first two years he was in the firm
he behaved very modestly. and outside of the
fact of his giving occasionally some "puts and
calls" to theatrical managers. who admitted him
behind the scenes neither his father nor any of
the partners had anything to complain Of But
step by step, as he became initiated, both in the
routine and the detail of his fathers and the
firms business, he began to show a pronounced
disposition for running the shop"
1t seems that the first serious conflict between
him and W. E. Conner was caused by George
Gould's demand that the salaries of the clerks
should be reduced and their luncheon cut off.
But Conner, as the head of the firm. opposed it
point blank, saying that nobody more than Jay
Gould needed trusted and loyal employees, and
that buOS0 COutO uOt NC gut uuloSS VIGIL pdlu SuU
well treated For the last three years disputes
of this and of more important nature occurred
very frequently, and sometimes resulted in
George Gould and Morosni not speaking for six
months at a time Connors conflicts with the
young man seem to have been less frequent, for
Conner had his own room and did not come in
contact with him unless it was absolutely neces
sary. But Morosini had his desk in Jay Gould's
own room, and consequently came in constant
contact with the young man. Their rela-
cfIt 1Ytn mt fnr
Morosini when Jay Gould either remained
uptown Or was out of town. for the young
man. disregarding all the courteSies Of partner
ship and all the intimacy Of his father with
Morosini was all the time sending him telegraph
and telephone messages of which no one in the
Office knew the contents. He operated the in
strument himself and with closed doors. He
seems to have done so even during the bank
panic of 1884, when Conner and Morosni were
using all their efforts to save him.
Such condition of affairs could, of course, not
last, and the partnership had to be broken That
was the aim young Gould always had in view.
He worked systematically against everybody
who had played any part in building up his
influence upon him. General Dodge, Captain
Hayes, Conner, Morosini, and one or two of the
other intimate associates of Gould are no longer
with him. 1t would be absurd to suppose that
the young man can take all these places and do
the work of a number of very superior men sin
at the isolation of his father and the concentra-
ton of all the power and the whole of the i'm
mense fortune in his own hands. RlGoLo
Some Wall Street Magnates.
Baron Woerishoffer is engaged in a large
wheat speculation, which is attracting consider
able attention He began it in May of last year.
when he bought wheat to the extent of nearly
2,00Q 900 bushels at ST. o. the market fell and he
followed it down until he had accumulated about
100000 bushels, considerable of which repre-
scented actual wheat. He has taken frequent
short turns in wheat for months past, buying on
any decline and selling any advance but in
the meantime carrying his main block and wait
ing for chance to get out of the speculation
somewhere near the point where he began.
With the purchases which he recently made he
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