Passaic City record., 1892-12-10
Sketch of His Career.

Although the foremost financier of the
century and a man whose powerful in
auence was perhaps more widespread than
that welded by any other one man at the
present day, comparatively little is publicly
known of the early history and domestic
career of Jay Gould.
Jay Gould was born at Stratton Falls.
father, John B. Gould, was farmer and
also kept q general store at that place.
When sixteen years old young Gould was
EMPLOYED as clerk in the variety store OF
Squire Burnhan, and devoted his leisure
time to the study of bookkeeping and
geometry, becoming expert in civil engi
neering also, having great natural aptitude
for figures.
He adopted surveying as business, max
ing many maps of Rensselaer, and Albany
Counties, afterward writing a history of the
former county and peddling it, together
with his maps, among the residents. with
the profits from these sales and the invention
of a mousetrap during idle moments whils
a cler K he was enabled to buy out the sur
subsequently became interested in tannery
at Gouldsboro, Penn, with Zadoc Pratt for
a partner. Mr.. Pratt sold his share to
Charles M. Leupp, who died, and the con-
Germ was sold to II. D. 81. Snyder.
About THIS time Jay Gould came to New
York to reside and fell in love with the
daughter of a grocer at whose house he
boarded. and as his affections were recipro
Gated speedy marriage followed. His first
stock transaction was made about this time.
His father-in-law held shares in the Rens.
selaer and Saratoga Railroad, which was in
bad financial condition. and the young Ben.
edict was asked to negotiate sale on the
best terms possible. instead OF placing tne
stock on the market young Gould exam
ined the road and saw possibilities OF
future for it. He therefore took the shares
himself at their market value, purchased
more, obtained control of the entire prop
erty and sold it to rival company at q
large profit.
jaw Gould first entered Wall street as
partner in the firm of Smith, Gould
Martin. A little later he became connected
with the Erie Railroad, first as Director,
then Treasurer and afterward President. II
was as managing power OF the Erie that
Mr.. Gould laid the foundation of his for.
tune, and his money and influence, applied
with his shrewd, unerring business instinct.
enabled him to extend his acquisition OF
railroad property to the control of the
Union Pacific and its various connections,
giving him an immense control of transcon'
tinental railroad affairs.
His force and the determination with
rhich he carried out the boldest OF plans
amazed even the heaviest operators in rail-
road matters, yet his connection with a
''deap was rarely suspected until the busi-
ness had been consummated, as bis trans
actions were usually made through others.
But one case of defeat in project is on
record against him, namely. the attempt OF
the Erie to absorb the Albany and Susque-
hanna After long legal fight the road
was leased to the Delaware and Hudson
Canal Company, but the battle was not re-
linquished until victory was beyond hope.
- r. l>rrId
doubtedly the Western Union Telegraph
Company, and to secure its control he de-
voted the best energies of his life, soon plac-
ing himself in position to dictate terms to
the gigantic corporation. Ills control OF the
elevated railroads was acquired as easily and
as simply as his telegraph transaction. With
his immense wealth and thorough knowl
edge of how effective q weapon it could be
made Jay Gould had apparently but to wish
to have his desire granted.
His unyielding frmness was never more
strikingly illustrated than In the strike OF
telegraphers against the Western Union.
The company lost over half q million dollars,
and the stockholders became much alarmed
and urged yielding, but Gould held out until
the strikers were compelled 10 give in.
w hen the Missouri Pacific was sought by
Mr.. Gould he made an offer OF 81, 500, 600 for
tie controlling interest. then owned by
Commodore Garrison, and was met with an
offer to sell at ~, 6OO, 600. Mr.. dould re-
torted that he could have had the property
for s., 100000 on the day previous and re
tired. The next day he returned 20 acceP
the terms but was told that the price va
chen So, 500. 900 or million more than tn'
day previous. Mr. Gould remarked simply
srM take it" and he did.
It was his habit to travel frequentiy ovel
every mile OF his railroads and learn iol
himself BY q tour Of inspection exactiy
what state his property was in at AL times
His private car 'sConvoy" was used for suct
frips, and the owner has often spent two OF
three weeks in the car, dining and sieepne
aboard. His inspections were all minute q
the smallest detail. and questions wer'
asked directly OF employees as to their du9e
and the progress Of the work performed o
them.U
Personally Jay Gould was man OF very
unimpressive appearance and gave no evi