The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-12-03


OF this company. He brought about a consoli-
dation of the Rensselaer, IL Saratoga road.
ana with the proceeds removed to New York city
IN lsos, established himself as broker and
Invested heavily in Erie railway stock. He en-
tered the directory of that company and be-
came president, holding the office till the re-
organization OF the directory in 1872. He next
made large purchases OF the stocks of the Union
Pacific, the Wabash, the Texas Pacific. the
ST Louis Northern, the Missouri Pacific and
the Missouri. Kansas e. Texas railroad COM
panie', taking the latter out of the hands of its
receiver. lie also invested deeply in the stock
OF the Atlantic & Pacific Telegraph Company.
and on its consolidation with the Western
. Union lie organized the American Union in
1879, which was merged into the Western Union
in 1881. In December, 1850, official records
showed that Mr.. Gould was in control OF 10000
entire mileage of the country. Early i'll 1881
he became interested in the elevated railroad
system OF New York city. A doubt having been
cast upon his financial standing, he summoned
several gentlemen to his private office on March
13. 1852. and spread before them for examination
certificates OF stock having face value of $751;
ooo,ooo. all in his own name, and Offered to pro-
duce *2oOC0 go more ii desired. In March, 1887,
Mr. Gouid purchased . controlling interest in
the ST. Louis 4 San Francisco Railroad Com
pany, which has an aggregate mileage of nearly
9U miles, and was joint owner with the Atchi-
son, Topeka & santa Fe Railroad Company of
the Atlantic g. Pacific and the western portion
OF the southern Pacific railroad companies.
These, with the projected links, gave him con-
troll OF an additional 5000 miles of rail. The
best estimates of his fortune place it at $ll00e0.
OeN. Mrs. Gould, very estimable woman, died
nearly two years ago. There are four children
George, who married Edith Kingdom. an actress,
and who is much like his father; Edwin, who
was married last month to daughter of DR..
Shrady; Howard, the youngest, and Helen, who
spends her time in works of charity.
The following sketch of Jay Gould was writ
ten by Henry Clews few years ago:
If Fenimore Cooper, Sir Walter Scott, Charles
Dickens OK Dumas. in the height of popularity
OF any OF those great writers OF fiction, had
evolved from his inner consciousness Jay
Gould AZ the hero of a novel, its readers would
have found serious fault with the author
Tor attempting to transcend the rational
fiction. Few. novel readers, in fact would have
patiently submitted to such a strain on their
oreduiisy prior to the era in the financial de-
ye.opment in this country which produced
some Of the leading characters which Wall
street has brought to the front, stern realities
Of everyday life, since my advent in the arena
OF speculation.
Among these Jay Gould il conspicuous and of
sill the selfmade men of Wall street he had
probably the most difficulty in making the first
thousand dollars of the amazing pile which he
now controls.
Jay Gould was torn at stratton Falls, Della
ware county, n. u, about the year 1885,
He was the son of John H. Gould. who
kept grocery store At the age OF l6 young
Gould became a clerk in variety store be-
longing to Squire Buraham, about two miles
from the falls. Here iu his leisure hours he
received at the. village school, by applying
himself to the study OF bookkeeping in the
evenings
1t was when he was at this store, according to
the most reliable accounts. that he manifested
his natural aptitude for making sharp and
profitable bargains. His employer, the squire,
which he expected to obtain cheap and
SO make profit. He whispered his
intention to some friend in the store. and his
young assistant overheard him. When he went
IN tpSiO Of MIR ahasi mo- fha LAM in
ecution he found that yOung Gould had been
there before him, and had secured the title.
This natural inclination TO buy out every
concern with which he has been connected has
been the ruling passion of his life, and still
tenaciously adheres to him. Prior TO his
negotiations with the firm OF surveyors.
of leisure in the store, and with the pro-
ceeds and the bargain in the land. out
OF which he had outwitted his employer,
he was enabled TO make himself master
of the situation with the surveyors. Shortly
after this came man named Loup, who
owned taDnery in Pennsylvania, who was
looking out for partner with little money
aud who was also good drummer" Mr..
Gould made an arrangement with him. De-
came a member of the firm, cut off the mid
dlemen, came To New York and obtained Gus.
toners direct from the wholesale leather men.
and in three years bought out his partner and
ran the business himself. Loup. the frOzen-oui
| partner, took his business reverses SO much TO
| heart that he committed suicide.
On his visits TO New York Mr.. Gould was
attracted by the greater advantages which
| the Empire city afforded for extending his
| business, and came here to reside lie had
| ingratiated himself in the favorable esteem
| OF OF the leather merchants with whom
| he had done business. The merchant took
| him to his house to board, and Mr. Gould
| fell in love with his handsome daughter. II
| was a mutual affair of the heart. like that oi
! his son George aud Miss Edith Kingdom. and
| u speedy marriage was the result. The results
| of the happy union seem 10 have been all thai
| could be desired. and the domestic felicity o.
| Mr.. and Mrs. Gould. so far as the public have
| been able to ascertain, has never suffered the
| slightest jar or interruption.
| On his entrance to Wall street he begar
business alone. Afterward he formed part
| nershp with Henry n. Smith and Mar
| tin, the hrm taking the name of Smith
| Gould & Martin. Martin now is in a luna
tic ssyluul, and Henry n. Smith. who wa.
The shidi o9 OF 5s'qse i nox o, "ia
| pensioper on the bounty of his wife. Bu
| Mr. Gould still towers aloft in the full en-
| joynent aud continued progress OF his spec
| ulative prosperity, without being iisrnayed BY
| anv competitor, however powerful, and over
coming all obstacles, no matter how gigantic.
| The modus operand of Mr.. Gould, in the pur
| chase and sale OF railroads, has been TO buy NJ
| two or more bad roads, put them together, giv'
the united roads a new name, call i
a good, prosperous line, with irnmens
! prospects in the immediate future. get
| great number OF people To believe all this. thel
| make large issues of bonds and sell them at
| good price, for the purpose of further i'm
| property After these preliminaries ha,
been gone through, If profitable purchss
| ers came along, they could have tn
| road at a price that Won ID amply compensate Mr.
| Gould for all hls labor and acute management
l. these purchasers should be unable to run IN
| road proftaDly and were Obliged tO goi into liqui
! daf after year or two, as frequently happens
| then Mr. Gould or his agents would very likely b
| found on rand ut the sale TO take back tn
road at greatly reduced price. Ar. Goul
would then get iresn opportunity OF show
ing the superiority of his management. II
would be abe 20 demonstrate that the roa
had lett his possession In excellent and pro
gre-sve condition, but through loose manage
rneut h nd been run down. He would then sc
ABOUT the work of reorganization again and &
through the sane role substantially, with sligh
variations, as before, eallzInE n handsome proh
on each successive reor rganzaton-
| IL the managing p1we- OF the I'm
railroad that Mr. Gould laid the broad foands
t:on OF his fortune. The money and inilueDc
| which he gained il connection with IN
| Erie corporation enabled him 10 extend HI
! operations in the acquisition OF raliroa
| property until, through the Union Pacin
| and its various connections, wabash ard
| number OF southwestern road, IL SCENE
! probable at one time that he was in fe
| way oi rraspiBg the entire control OF IN
! tsansconiiaegtsI business in railroad matter
| AMI this vas prior 10 the time when be ol
| taine1 his present hold on Geographic facilitie
| The methods OF acquiring tie control ana q
| posssssion OF other peoples property have ice
! raised TO the dignity of nne art by MI Goul'
| This art has been prosecuted, too, throug
! s.Icgit mate" means. He has had the law at q
| back every time, and been supported IN n
marvellous acquisitions by the highest cou
/ authority.
The manner in which he managed 20 e
| the Western Union into his hands affords q vel
| striking illustration OF mis- methods and u