The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-15
THE MISSOURI PACIFIC.
Gould Has Recently sold sI,Soo.ooo Of
the mock.

Il has been stated in the newspapers
several times lately that Jay Gould, either
on account Of his health or for some
financial reason, has sold large quantity
Of the stock Of the Missouri Pacific Rail
road company, says the Chicago Tribune
Dispatches have been received in Chicago
In the last few days TINT he has sold for
his own account so,O0O,OOO Of the stock
and Cor the account Of the company 81. 900, =
900, according TO his own admissions, and
that he still holds SlO,OOO,OO0. There is a
letter in town dated April /, lsSs, from
one OF the most responsible brokers in
New York, who says that in July, 1886,
Mr.. Gould held SIS, 900, 900 Of the capital
stock out Of a total OF SO, 0OO, 900, leaving
only 81 | 200, 900 in the hands OF other per-
sons, but that at the time the letter was
written he had sl3, 0OO, 900, leaving &c.,.
900, 900 10 the rest Of the Stockholders, the
capital stock having been increased mean
while 10 lj,O0O,O0O. Whatever the exact
figures may be, there IL no doubt that
jay Gould has marketed large quantity
OF TVS stock within the last few months
The fact is significant, since II has always
been understood that this was his favorite
railroad security. lilo has been supposed
20 sustain almost the same relation 90 this
property that Commodore Vanderbilt did
10 New York Central. There are few in.
stances In the world Of one person or one
family having 10 great stake In one prop.
erty. And lie has held not only the stock
but the bonds II will he remembered
that not many months ago he was feputed
10 have sold a largo block OF the bonds
The effect Of his sales has been plainly
seen. In the latter part Of 1886 the stock
was sold as high as 10, in 1887 II ranged
IRON ll2 down 10 about IS, and this year
the price has been rs low ~ 63i. The
value Of the stock has therefore been near.
" cut in two. II IL believed that Gould's
sales have been gTadual-tincd Of course
according 10 the condition OF the market
but the decline was not due altogether
20 ais transactions. Dividends OF per
cent. were paid In 1856, but the rate has
been successfully reduced 20 and 4 per
cent, the last declared In June and not
yet paid, being per cent. quarterly.
Nobody can question Mr.. Gould's right
b. sell anything he owns, but Il appears
there has been systematic effort during
the period In which these sales were going
on TO give the smaller stockholders aud
Others the impression that the stock was
an excellent purchase, and that the de.
preston In Il was due simply 10 the tactics
OF the bears Of Wall street. Letters have
been written 10 people In various parts Of
the country stating that the dividend.
would be- maintained, that the price Of the
stock was ridicuously low, and that any.
body would make by buying az current
quotations. These assurances have been
reiterated from time 10 time, all the way
down from il9 10 83i In the price, and
FROM per cent. 10 per cent. In the diyi.
dend. Furthermore, special investigation.
have been made by Gould's lieutcnants n.
TO the financial standing OF the smaller
stockholders and other persons likely e
buy the stock. There are many reasons
for the opinion 40 frequently expressed
by the outside Spectators that Gould
has system Of espionage by
which ho follows the movement
Of people likely 10 be Of use
20 him. All the timo Gould was selling
his stock investors In this city and else.
where were carefully nursed with report,
calculated TO inspire confidence In Mis-
sour Pacific, and the purchasers found