New-York tribune., 1892-12-03
HIS HOLDINGS IN WESTERN UNION.


DR. NORVIN GREEN GIVES INTERESTING ~
CIpEXrs ABOUT THE FINANcIER.
DIR. Norvin Green. the president Of the Western
Union Telegraph Company. gave to reporter ''h II"
,eresnc account OF Mr. GOulds connection Win 'hat
company. DR.. had the highest respect IoF Nr.
Gould personally. and he spoke with great "ea' VI
feeling about his private character
Mr. Could !" he said, came into the Western Union
(ompapv In 1881. Three years before that was
aloced nre,dent Of the company. Mr. Gould got into
the Western Union Company through the American
Union Telegraph Company, which he then cOntiriied
and which he used lever to get into the western
Union Company. Through an outside agreement "hrh
Mr. Goulds company was taken Into the western
Union Company. four of the directors of this company
were also taken as directors Of the Western Inioh'
They were Jay Gould Russell Sage T. {. r. Eckeri
and Frederick Ames. Mr.. Gould had been cunning FOR
the Western Union Company for twenty years lie
was extremely anxious ~ get control OF II. 10 90
this he first secured the control Of dilapldated com
pany known as the Atlantic and Pacific Telegraph
Company. lie bostered up the stock Of this company
and finally got it taken into the Western UnOn through
q pooling arrangement lie was more successful how
ever, In breaking down the Western Union stock With
the American Union Company. With this company
he worked the stock of the Western Union Company 50
low that he could afford 10 buy It, As the Western
Union went down Gould bought it quietly, and when
the November meeting of 1851 held at which
Goud went into the company II was found that Mr..
Gould held more OF the Western Union stock than did
william H. Vanderbilt, who was supposed 10 own more
stock In the company than any one else did. Mr..
Gould then controlled $50 100000 Of the Western
Union stock. About five years ago he reduced his
holdings in this company to S2OO0O,0O0 which he had
since held. MI. Gould always had great faith In the
Western Union Company, and he looked upon II as
Il safe investment stock
Mr.. Gould a Of wonderful brain power
IIe was a man OF decided views and strong wil yet
he never strongly expressed Them. As instance
Of this his actions In the meetings Of the boards Of
directors OF the companies in which he Interested
He would sit quietly rubbing his hands while the
members OF the boards would express their views
TO what ought TO be done. lie would listen 10 all
that said and after every through he
would say 'Iiow would it do to pass such and such
resolutions = naming them over the might be
His suggestions would jllst hit the point and the
members of the particular board would all declare that
he had suggested just the right uing TO do.
The with whom Mr.. Gould associated
recognized dis power and followed him. lie had
wonderful sagacity aud foresight. Mr.. Gould was Il
generous man and IDS noble impulses and generous
deeds were never Known except to those most III
timately associated with him. | know than during the
financial troubles OF 1884 Mr.. Gould carried through
many men who had gotten into financial straits. He
did this at great sacrifice t0 himself, and he had 10
std his stock TO do il. In 1889 ! was carrying
III, 100000 worth OF securities. The money market
also strained for money. They wanted me 10
increase my margins from 10 10 20 per cent. In View
Of the situation / went to Mr.. Could showed him my
securities and asked him what l ought 10 do. lie
looked them over and said that he would tell me
what he thought luncheon time. Al that hour when
We mot Mr. Gould put his hand OH my shoulder and
said Mr.. Green, have arranged for YOU to borrow
$3.50 OOO,' naming a certain trust company. and as
your securities viii quite that amount. |
whi send George 10 the Office Of The COMPANY
this afternoon with $4,000 Missouri Pacific bonds aud
secure the money for ae loaI.' Mr. Could never
asked me for collateral for iater,~t. II was
simple loan.
As the manager of IA corporation. Mr.. Could
a close man. but when appeal made To him
he acted most generously. There the Of III"
head OF a department In the Western Union Com
pany who when he presented bis report for period
accompanied II with request Of raise In his
salary Of from 81 400 TO $1,000 n year. some Of
make the increase. but Mr.. sage said Wait until
Mr.. Gould comes In ana see what he says When
him. MI. Gould looked over the report carefully
and said III that man made out thiN report he IS
entitled TO the salary that he asks. lie l. valuable
man.. The salary was vOtG 10 him.
DR.. Green would not make an estimate as 10 Mr..
GOuld's wealth. but he said
q know that Mr.. Gould held S20,OO0,OO0 worth
OF Missouri Pacific. @2O,OOO,OOO OF Manhattan Ele
waited Railroad and So0,OO0.OOO OF Western Union
He always had great faith in these companies. and
be retained In his estate. lie believed that Missouri
Pacific stock would 20 TO 100. Western Union TO
40 and Manhaitsn 70 zoo: II was always his idea
] do know this In regard to Mr.. Gould lie never
carried dollars worth % life Insurance In his life
40 FANIC LIKELY. SAYS SECRETARY FOSTER.
Washington, Dec. 2.-secretary Charles Foster said