Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1890-12-27
JAY GorLD,s AMBIrIos.
HE AsrI.Es TO BE THE RICHEST
MAN IN TIE WORLD.

JAY GOTLD'S AMBITION.
HE AsrIREs TO BE THE RICHEST
MAN IN TIE WORLD.
Jay Gould is, il nothing, even
more the architect Of bis own for
tune than John ID. Rockefeller, for
his beginning In life was much
humber, in pecuniary sense, than
wss the Standard oil n,sgnats,s.
Mr.. Rockefeller, however, has rolled
up his fortune in n shorter period
than IL has taken Mr.. Gould to ac-
cumulate his, and Mr.. Rockefeller's
is considerably the larger Of the two.
Yet Mr.. Gould hopes to be richer
than Rockefeller. In short, 1. is his
ambition TO be, tie Crn-sis OF the
world. He THINKS that the oppor-
tunity TO gain the coveted POSITION
is now offered.
There mas beea a tremendous de-
cline In the value Of railway seruri-
ties. There art many which were
never before - cheap. Mr. Gould
Is credited with the most enormous.
purchases Of stock during the lasV
few weeks. His holdings, includ-
ing those previously acquired anu
held for investment, OF, more prop
erly speaking, for the control oil cor
porstions, amount in the aggregate,
II is estimated, at 1000, 09U shares.
Mr.. Gould believes that III time
and not long time at tiiat-theTe
will Ice an advance of from % to 50
per cent, anu in some instances
mores in the value Of the stocks
which he holds. An advance of g
per cent, counting his holuings al
3,0Q0, 900 shares, would Increase bis
wealth by $50, 100000, while an adj
vance OF % per cent would increase
ii by 500, 600, 900.
TIE latest estimate OF GDuii's
wealth at its actual market value il
$40, 0oo, 200. son paper," Ne the
term is used in Wall street, it foots
up round sl0o,001, 900. but if IL
were to be liquidated, or ia ether
words, disposed Of 4; existing val
uations in the stock market there
would oe a shrinking Of p per cent,
80 that this decrease must he de
Quoted in making up an estimate.
Mr.. Gouid-s fortune i more subject
10 variation than any other Of thu
great fortunes. Ii is almost wholly
composed of the stocks and bonds OF
various railroads and the Western
Union Telegraph Company. As
the prices of these securities RE and
fall III the vaciiiations of the stock
market, so also his fortune rises anu
falls. There has been = great de-
probation in his wealth IN conse-
quence OF the heavy decline in the
market. but there Is likely TO he al
increase many fold greater ii tn,
| advance ia VALUES which he expects
takes place.
Five years ago Mr.. Gould was
COM elled 10 retire from acliv,
speculation in consequence of fail-
| ing health, otherwise he would
probably lie now at the head OF the
list o. miilioBaires. His health has
been completely restored. He him.
self says that he has not been s.
well for fifteen years and his looks
would seem TO confirm the state
ment, He is man Of. wonderful
vitality and activity. de Hever
appears.to have al idle moment. He
Is continually Studying the reports
of the operations OF his companies
aud also of other companies which
are in composition or have 4
relation 10 tine business OF his or in
which he conteuplates acquiring
stocks.
Mr.. Gould will not conte mt HIM
self with merely holding the vas
lots of stocks he has bought until
they enhenee IN value 70 n degree
that suits his ideas Of a sufficient
profit and then 20 sell. He will lie
found constant operator in the
stock market. lie will retain his
mammoth slime" Of stocks, but will
maze turns" IN the market as OF
| pOrtunitiee Offer. In ether words
he will sell stocks .Ehen lie sees q
slump or temporary downfall ap
pr0sching aRd buy them back again
u The diniinishe,: valuations, only
TO Isoest the selling operation whei
higher igur,s have again been
reached.
There are always fluctuations OF
greater or less proportions in the
| stock rjarket, Otherwise there wOulG
be al absence OF t;ading. by taking
advantage ~ the rises and fills in
the course o: an 1it;fas.e advance OF
80 per cent, Mf. Gould may re1l
profits Of - per cent. which would
equal on his reported holdings Of
| Jg1. 900 shares the colossal sum OF
Sl51,Uc0,0Cc- Adding the present
paper yaige, which would In the
meantime Ie converted into actual
rsire, his fo.ai fortune would be
augmented TO $3.50, 90, Gse.
How long il will be before the aa-
vance materializes which Mfr. Could
looks for is wholly conjecture.
There is no doubt In the minds of
spectators that a gest rise In stock
Ia coming, but there still may be
| vicissitudes in the market sufficient
iy great to overwheIn, strong men
in the financial world. There is
little fear, however, that Mr.. Gould
will be overwhelmed. While he
was out OF the stock market the in
terest on his bonGsani the dividends
on his stock accumulated into a
huge pile OF ready money. Ii was
said when lie began buying stock
recently that he had $50, 0J1. 900 or
So. Gce. e-1o in cash in the different
i-ust COMPANIES In New York. He
was, therefore, abe T. pay outright
for the securities which lie bought.
Money is coming in 10 him all the
while from his securities and he
will be able 10 ensure any financial
commissions that may eusue.
Mr.. Gould has said that he woulG
never again bea borrower of money.
Ii does not look as If il would lie
necessary. BY realizing on the
changes in the market he can keep
himself la plentiful supply all the
time. If the oaS2sion offered TO
make an unusually la.ge profit by
the use Of i greater sum OF money
than he Possesses i. is altogether
likely that he viii forego his reso-
luton and take ad yantnge Of il. He
would have no difficulty in obtain
ing money, no matter how large an
amount he may require. He would
at all times have an abundance of