The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-03
DEATH OF WALL STREETS KING.
concluded from Fir.. Page.

bHtA II "a W kCl O NiltC nIn 4 III nDl II II
TIL long after 3 o'clock after this rebuff. / was
naturally a rimid boy, and 1t had a great effect
whole engagement. but ! went out and had
me, Then / got down aud prayed. and
/ felt better afterward. SO / made up
my mind to go ahead-made up my mind
to die in the last ditch. Twas hungry, and L de-
clded to go into the first house l came 10 and get
something TO eat, and / did so. The woman
treated me kindly. gave me some bread and milk
and when 1 went away / told her TO enter IL
down. In the meantime her husband came in. and
L bad got about four rods away from the house
when / heard him hallooIng after me. With the
mornings scare in my mind / thought that he
was going TO finish me [laughterl. but he SAID: Il
want you TO come back and make me a noon
that is"
Eyes. I know" said Senator Blair, "but ex-
plain to these gentlemen what 1t is"
1T Is q line north and SOUTH" said MT. Gould,
by which the farmers can regulate their clocks,
the sun bearing due south at noon. l went back
with my compass and made him a noon mark,
and when 1 got through he asked me what was
TO payf l said nothing
"'Oh, yes said he, Il want to pay you; our
surveyor always charges 81
HIS EMPLOYER FAILED.
THE food I had eaten was i shilling, and he
paid me 2 shillings, the balance of the dollar.
This gave me an idea, and from this time / went
on. and paid my expenses making noon marks
for the farmers. When I had finished
my survey the man who employed me
failed and could not pay me. but there were two
surveys. and proposed 10 them to 60 on and
finish the map. They decided TO do so, but they
wanted their names to 1t alone. j said: Very
interest In the map for $500. This was the first
money 1 ever earned. l went on and helped
them finish the map. so that 1 sold out my inter
est In the perfect map. Then / went forward
with this little capital and made similar surveys
OF Albany and Delaware counties, and made up
we'll, and / soon accumulated 5000"
Then Mr.. Gould told OF his connection with
Zadoc Pratt, the Pennsylvania tanner. how he
made money In the business, and went to New
York about the time of the panic of 1857. Con-
tinuing. he said: RAILROAD values after this time
went down. very low, and the first mortgage
bonds OF the Rutland IL Washington railroad
were selling at 10 cents on the dollar. I bought
all the bonds at that price. borrowing he money
TO pay for them. took the entire charge Of this
road, and learned the business. as / may say.
L was president. secretary, treasurer and
superintendent. had sole control. and i formed
what was known as the Saratoga consolidation
The first road was sixty-two miles long. | had
gradually drawn the road up. and 1 kept the
work up until finally We made the present
Rensselaer, and Saratoga consolidation. Mean
time. the bonds became good and my stock also.
My next road was the Cleveland d Pittsburg.
The stock was selling low. and a friend Of mine,
who had more than he could take care OF, came
TO me one night and said that the next day he
must fail. he had bought, but could not pay for
It. He bought 1t at 80 and il was down to 40. I
told HIM: Il will take half what you have at
that figure He agreed to this. and that was the
way | became the owner of the Cleveland &
was SOME one there who could take care OF 1t,
the stock went up TO 10. / took the road, and
II was very successful 1t paid dividends from
the start, and finally / sold 1t out TO the Penn
sylyania road.
THE UNION PACIFIC DEAL.
IT then went into the Union Pacific road. I
met Horace Clark and Augustus Schell out West,
and they gave me SO good an account of the
road that l concluded I would buy in 1t. tele-
graphed to New York an order tolbuy at q GER
tain price. When Mr.. Clark got home he was
taken Iii, and as soon as his brokers learned that
his illness was to be fatal they sold out his stock.
That broke the market and filled orders which |
had sent at a price lower than / ever had ex-
pected. When l got home L found myself the
owner OF a large amount or this property
and at once inquired into its condition.
learned that 1t was saddled with q
large floating debt. and that there were S1O.-
100000 of bonds coming due within a month. 1t
was III q rather blue condition. The directors
were consulting who should be the receiver.
made up my mind that I would carry it through.
and l told them that II they would furnish half
the money to pay the debt. I would furnish the
other half. The stock went down to Is. 1t was
O large loss, but still / kept right on buying, so
when the turn came there did not seem to be any
top TO II. Ii Went up 10 10, aud / Immediately
went to work to bring the road up. 1 went out
over IT, started coal mines, and to the sur
SINCE"
1uiS - as ldE dS MT. GOulus ACTUAL testimony
went. He did not keep the Union Pacific long,
but sold out at O big profit. He then bought the
Missouri Pacific, not TO make money out of il, he
told the committee, but just TO see what he could
do. ut was a mere plaything," he said; 'I had
already passed the point where | cared about
the mere making OF money. When l took the
Missouri Pacific IL was earning $4,000 a week.
l have just got the gross earnings for the last
month, and they amount TO So, loo, 900, and We
have accomplished that result by developing the
country. aud while We have been doing this we
have made the country rich, developing coal
mines and cartle-raising, as we'll az the produc-
ton or cotton. We have created this earning
power by developing the system. The roads
pass through the states OF Ohio, Illinois. Michi-
gan, Iowa, Missouri, Kansas, Nebraska, Arkan-
cas-. Texas, Louisiana and the Indian Territory,
and We 90 into Mexico
Mr.. Gould said he was also interested
In the Western Union and Atlantic and Pacific
Telegraph companies. He said nothing at all
about his connection with the Erie deal, by
which he and James Fisk, IT., acquired control
of that great property. But In his narrative he
covered pretty generally all the events In his
life UP to 1882. Since then he has not been an
idle man. For four or five years subsequent to
away until about four years ago. when his writing
was again seen upon the wall. He announced
that he was simply protecting his In
terests. It was not until 1890. which
has been the most extraordinarily successful In
his career. that he became at all active in his
championship OF any ones property. He occa-
si0nally took a flyer" TO keep his hand in, but
did not appear TO be interested In any single
feature. The first indication the world had OF
his having come back 10 Wall street was In his
assault on Richmond Terminal in the summer of
1890, which resulted IN his obtaining control of
that stock. Then followed his brilliant coupe In
replacing his son George in his old position at
the head of the Pacific Mail Steamship Company.
and later, In November, the eliminating feat OF
his great triumphs-the recovery OF the Union
Pacific.