Los Angeles herald., 1892-12-03
ONE INFLUENCE FOR EVIL GONE.

C6ueu U Uo Tue hluS VI tuc 5toCh AaiA ACo'
AS manipulation of the securities dealt
in at the exchanges he was confessedly
without rival. The only man who was
ever known to hold his own against the
Wizard of Wall street was Commodore
Vanderbilt, and he was only able to do
go by confining himself to the handling
of limited line OF stocks which he con-
trolled himself, and by constantly hold
ing in reserve large sums of ready
money. Such men as Daniel Drew.
whom he forced into bankruptcy,
were utterly incapable of withstanding
the dash and cunning of the great oper-
ator. When Commodore Vanderbilt
died his son, William H., proved to be
a mere playthipg in the hands of Gould.
Whenever the eommodore's successor
ventured into the speculative arena he
left several millions in the hands OF the
Wizard. But the younger Vanderbilt
was wise in his generation, and he soon
realized that his only safety was in con-
fning himself strictly to the manipula-
tion of New York Central, Harlem and
Lake Shore, which he absolutely con-
trolled. Twenty years ago the firm OF
Fisk & Gould was a terror in Wall
street. During and after the war they
shot through the financial heavens
like portents. The celebrated Black
Friday deal, which left very un-
savory traces in the Grant family, was
engineered by them, and with an au-
dacity probably never before rivaled in
the domain of finance. The bullet OF
Ed Stokes put an end to partnership
that boded no good to mankind, leaving
Gould to administer upon the estate OF
his partner. The public was not greatly
when the fact was made
public that Fisk was poor man when
he died. His widow got mere pittance
of a fortune that was supposed to count
into the tens of millions. 1t is quite
possible that if Gould had preceded
Fisk the latter might have leaned a
little to himself in the settlement with
the relict of his partner, but he was
naturally too cbivalrous to gouge a
woman.
The Wizard of Wall street was not
only A great speculator, but he and his
partner Fisk were the most monumental
railway wreckers that ever lived. Their
manipulation OF the Erie railway was
without a parallel in financial opera.
tiona in this or any other country. Fisk
and Gould managed to get themselves
elected to the directorate of that most
unfortunate OF railways, and one of them
became its president, the control of the
passing absolutely into their
hands. And then began a merry war.
Fisk, who always kept himself in line
with the politicians of both parties, hied
him to Albany and procured the passage
of an innocent looking little enactment
by which they were enabled to steal out
right the Erie railway. The law which
was rushed through the New York
legislature provided that the directors
should be empowered to issue stock for
betterments and equipment of the Erie
Under the statute these
worthless began to grind out stock at an
unheard of rate, and to put it in their
own names and those of their cronies.
There was no limitation as to the guam
titles of these issues. Naturally the
became alarmed, and be.
gan to sue out injunctions. Fisk &
Gould replied with counter injunctions,
through the medium of such corrupt
Judges as Barnard and Cardoza. Finally
the fight became too hot for them, and
they hied themselves over to Jersey
City, taking with them the books of the
company and the stock printing machine,
in order to escape the process Of just
New York judges. All the same, they
kept grinding out stock galore, and
cribbing it,
At this stage of the gobble the English
stockholders thought it high time to
take hand in the game. They saw
with horror that they stood no chance
against precious pair of harpies who
got their stock for nothing, and who
could create majority for themselves
at any time with only the expenditure
of little printers ink. They sent rep
resentatives OF their interests over to
the United States with instructions to
in woke both courts and public sentiment.
The death of Flax probably weakened
the nerve of Gould, and, after deadly
struggle, he compromised with the Erie
stock holders by the payment Of $3,00O,.
tithe of the amount of
which he had robbed them. Taking
this whole transaction in all its bear
ings, it will be found to be the most
colossal villainy ever recorded. There
is nothing in business affairs in the
whole annals of financial spoliation COM
parable to it. The legislature and ju-
dietary we're debauched to admit of it's
carrying out aud the people of two ma
tions were despoiled.
As to private persons the old Latin
a phorism, de m0rtuis nil nisi bOnatna,
may perhaps hold good, but when it
comes to men who have been much in
the public eye it is pernicious and false.
When man has been conspicuously
bad he ought to be held up to public
detestation. Goud's wrecking of the
Erie railway was but g specimen brick