The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1892-12-10


passing painlessly away was spent in wins
pered words to each. Death did not come
Unexpectedly 10 strike this millionaire, this
Wizard of Wall street His career. thai
for thirty years has been marvel has for the
last two years been married by Illness and
then developing into severe attacks.
GuFssEs A. TO HIS WEALTH.
There we're many guesses made in regard
N Law Gonld's wealth. and the disposition TO
he made of his immense holding Of securi'
ties. One Of his closest associates and oldest
personal friends said in regard to this mat
Ter. .sMr. GouId's wealth will be found to
vary not SIG. 900. zoe from Sl0O,00,OOO.
THE FAMILY TOMB.
The Gould family tomb is in Woodlawn
Cemetery, and stands in plot comprising
AN acre of ground overlooking Woodlawn
lake. It is known as the 'Lakeview plot
and is a circular, gently sloping mound III the
finest location of the cemetery. The plot
cost Jay Gould $4,000. The mausoleum IS
a COPY of the Parthenon. aud was designed
by +. r. fltZ Mahony'
1t is bnilt throughout of Westerly, Rhode
Island. granite, and its dimensions are ~ ieei
wide. SO feet long, and ~ feet high to the
apex of the roof. There are 20 cataeombs IN
the mausoleum. The tomb itself cost Sloo'
900. and the first member of the family IT re-
ceiyed was Mrs. Gould. who died January 49,
1891.
ESTIMATES oF Mr.. GOULD.
DR.. Chauncey VI. Depew said 10 a reporter
Mr.. Gould. death will have little or no et-
feet on the stock market He was too sharp
a business man to make any mistakes about
the future. He told me eight weeks ago that
his affairs were all adjusted, and that should
he drop dead at any time, his business was so
arranged that his sons could take charge OF
his interests at once.
II think that he was the most successful
business man Of his time. As to his being
the greatest financier of the age ] am not
prepared to say. There are other men who
are considered great fnanciers.
Every one must realize, said Mr.. Russell
Sage this morning, THAT in Jay Gould 5
death the country has sustained a loss which
is irreparable. He was universally acknowl'
edged to be one OF the leading minds OF the
age. No one has done so much AS he IN the
development of the resources OF the country
and the splendid railways constructed and
maintained by him will be regarded as monu-
menis of his genius and energy. During the
last two years, when illness prevented hiin
from engaging actively in business. he still
retained the keenest interest in the develop
ment of his enterprises. His tar-slghted
mind even made provision for his death, and
the slight variation which has taken place III
the value of securities during the last lew
days shows how complete this provision was.
Though | do not know how his great property
vas beaueathed, am satisfied that the will
will not affect the market to any great extent
Mr.. &. p. Morosini, who for years was Mr..
GouId's most intimate friend, said 81 saw
Mr.. Gould at his home just two weeks ago to.
day. His cheeks were rosy, and when ! IN
dnired regarding his health, he replied: !
feel like a fighting cock think his death
will affect the market only slightly, as all his
stocks are dividend payers. His sons are
admirably fitted, both in natural ability and
experience, to succeed him.
SKETCH OF HIS LIFE.
Jay Gould was in some respects one OF the
most remarkable men ofthe nineteeth century.
Born on the 9th of May, 1886, his life cover
ed the most eventful period of our political
and commercial history. and during tins
period Gould was a unique and commanding
figure. Other men have risen from poverty
10 affluence, and the United States contain
not few who have created colossal fortunes
in few bold enterprises by the simple exer'
else of their shrewdness, foresight and daring,
but Could great wealth was created through
a series of incidents so extraordinary aud so
dramatic. and by methods so audaclous, that
his career dazzles the Imagination. He has
been in finance and speculation what NapO-
leon was in war and politics-the most
brilliant adventurer the world has ever seen.
TO describe the life OF Jay Gould within the
impossible. 1t would require a book, aud a
very large one. to fifty set forth his wonderful
career. He was born on a farm in Delaware
county. New York. His father small
farmer. and when boy young Gould MIXED
the cows and did other chores about the farm.
This work. he said. was distasteful to him,
and he changed his occupation soon as he
got old enough.
After little work in store he began LIE
AS surveyors assistant at $50 IA month.
Before long he did some original work, making
a map of Ulster county, his interest in which
he sold for $500 With this capital he made
surveys OF Albany and Delaware counties, by
which he accumulated S. 900. His next bust
ness move was in the tannery line, and this
enterprise brought him into no small disrepute
in the neighborhood where the tannery was
operated There was bitter contest between
Gould and partner in which armed men
participated, and two men were badly wound
ed. Just after the great panic of 1857 Mr.
Gould bought his first railroad, the Rutland
anu hhSnlHHAOhs ht NV E"SN 'S''A''
of the road went down to 10 cents on the
dollar. Mr. Gould purchased them and be-
came the possessor of railroad 81 miles
long. This was IA fortunate purchase, ms the
property was worth several times what he
paid for IL. With this as basis he bought
a half interest in the Cleveland and Pittsburg
at 40, and soon saw 1t go 10 100 He sold it
out at large profit to the Pennsylvania Rail.
road. This deal laid handsome foundation
for his colossal fortune.
He began his career as broker. in 1859.
10y establishing small private Office in Wall
street lie made money very fast, and in
1860 he entered the firm Of Smith & Martin.
where he soon became known as an expert III
the manipulation of railroad securities. Soon
afterwards the civil war broke out, and for q
time securities of all kinds fell rapidly.
Among them vas the stock of the Erie
Railway. This was Jay Gould opportunity,
With farseeing faith in Its fuIpre, he bought
il for a song, and at once laid plaas 10 be
come its master. In 1867 he allied himself