The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-12-03
HIS TER TRANSACTIONS.
Great Operations with Far Western Rail
rOnds-lIis Connections When lie Died

GREAT Operations with Far Western Rail.
ronds-His Connections When He Died.
Mr. Goud's first interest in railroads west
OF the Missouri River was in the Kansas
Pacific. in which he and Mr.. Sage invested
Jointly when the company was in financial
straits. and transition from that property to
the Union Pacific was natural and resulted in
his subsequent intimacy with Mr.. Sydney
Dillon. tho builder OF tho Union Pacific Rail-
road. He made a great deal Of money out Of
his ventures in both properties and in conse-
Huence. perhaps. always seemed to have an
iniatuaton fer Union Pacific. After the
selling out the first time he reinvested
in the stock OF the company and adroitly
facilitated his exit from the management by
inducing Mr.. Charles Francis Adams to take
the Presidency. When the Union Pacific Com
pany became straitened financially. about
two years ago. he again came to the front and.
by cooperating with Mcssrs. Drexe Morgan
Co. and others. helped to save the property
from tho confession OF insolvency The out
come OF this deal was tho reinstat ement Of Mr..
Dillon as President OF this company an event
in which Mr.. Gould took undisCuised salts
faction. 1t is not believed that on the occasion
OF his third appearance in Union Pacific affairs
he acquired any amount OF the stock. But
he took his share Of the collateral trust notes.
the proceeds OF which were used to tempo
u
He was able. however. in spite OF his nominal
holdings OF the stock to carry the last election
for directors Of the Union Pacific Company as
against a concentration Of the foreign stock
holders.
Mr.. Gonld's interest In Missouri Pacific was
to n Congressional committee that he bought
control OF the comnqny from Commodore Gar
rison simply as pluything. He explained to
the committee that he meant that he bought
it in order to entertain himself seeing what he
small and unimportant road when he paid
Commodore Garrison - ;GooO 600 for it. He ex.
ies Wit Of 9XsT
a total bonded debt of S:m0o0,Oou. He an
parently became MS much infatuated with this
property rs he Ind previously been with Union
large amounts OF money in financing it, though
at times Ss ne vas compelled to do 50 almost
The true story OF. Mr.. Gould's connection
He has always been condemned unsparinsIy.
both here and abroad, because the company
went to pieces financially almost Immediately
after tho only Dividend was paid upon Its pre.
ierred stock. Intimate associates Of Mr.. Gould
say that he was DECEIVED as to the charactero OF
branch lines; and relying upon the informa:
ton furnished him by, others and not
ms1! sS Sssa New sy IL II. be pos ok
doing; Perhaps ths best proof Of this vcrsion
about si2.00o.0oO Iar value of Wabash sccu-
million dollars. and have at times shown him
even creator loss. He never deserted the
company. but put his name to its notes to the
Mr., Sage. Mr.. Scion Humphreys. and the late
Sydney Dillon.
At the time OF his death Mr.. Gould was a
director OF the following railway companies
international and Great Northern, Manhattan
Elevated. Missouri Pacific. 81. Louis. Iron
Mountain and Southern. st. Louis and South:
western. Texas Pacific, Union Pacific and
Wabash. and also Of the Western Union Telc-
graph Company.