New-York tribune., 1892-12-03

when the price of the stock ranged from to ~ IL
is impossible to say. In February. 1919. now. %
ever, ne reported 10 be the hoder oi Nv r' ien
than 10000 sndres, ana ON the nroa .am va nrice
month he sold 100 900 shares at an average piios,
Of 20 per cent cash To syndicate composer Vi
James T. Keene Russell Sage, David + Morsan'
Frank Work Charles j Osborne n,t Aua,So" was
estimated a, the time that the lOo,0oO shl'S
which Mr. Gould sold est him 5000 ooo. ahs
this was probably Il high estimate, as lie nliiisci
saws that Inc had to buy largely at ,, and that ms
orders were from 80 down. Unless he Dough.
during the subsequent rise, therefore, he cahhGI
have paid S30Oo.OCO fer the STOCK whcn ne snu som
to the syndicate. But if he did, the Transaction
represents profit of - 0OO,0 600 Al the 4hhuai 4h
meeting Of the stockholders ot the Union faciic
which took place ON March >, three weeks al,fI
this tremendous transaction in stocks, JAY r0ulu
voted in his right on 23,! 90 shares ani Oh
5000 shares by proxy To AFFORD one an oppoi..
tuniiy 10 indulge his Imagination WIN sueSI, NV
what Mr. Gould may have gained py Spcuia.inS
in Union Pacific stock during the SIX years pre-.
ccdng the SALE it is only necessary 10 nua INA.
in in s,% the stock h"cfla,ye hctween :'"s 2s and
81 3-4 in 1915, between 80 ana >. %, III
1876, between - 81 and = -? in 81 oetween
80 81 and -. and in 1873 between 81 - anu 80,
On the day of the sale the stock was advanced y
per cent before the terms were generally known.
A. Jay Gould took the Cleveland and PlttspnrS
Company just to obge friend ana save iiin hin
from ruin, 50 ii would seem from the frw pupIic
explanations which he has made of his actlon';
most of them after the storm and stress peTiou
OF his speculative lie over, that he also went
into most of his big enterprises. Thus, he SAIL
that he bought Texas and Pocifc of Thomas Scott
because he met him in switzerland III the summer
of $40 and felt sympathy for MIN >cott peihs,
broken up financially, physically and mentally.
lie asked Mr.. Gould 10 take the Texas Paclfc OH
MS hands, and Mr. Gould did so, conaenllns after
ward 10 lncinde also me "Orld newspaper
in the transaction. About four years later he
disposed of The World" 10 Joseph Pulitzer
.AhOther version Of the story is that Gould ohiS
bought small interest in the road OF Colonel
Scott, and on the strength Ot il was made dlrec
tor In April, 1881, Mr. Gould ami Colonel Scott
being both still in the directory, there was meet
ing of the board in Philadelphia. Nlr. Gould and
Mr.. Sage went into the private office to have a
preliminary talk with Colonel Scott touching a
difference in policy. Could adhered TO his plans
with such pcrInaciiy that Scott finally ceased
nrguing and said thar he would rather sell out his
iniereS, than follow NJ Gould.
Villa, Will you sell for? was the response
10 this challenge
Colonel Scott set his price and Jay Gould with
out moments hesitation drew his check Tor
-. .IO0, ,OUO handed il to Scott and entered the
directors room the owner of the controlling IN
tcrtst in the Texas Pacific road When the dls-
putants Joined their colleagues, colonel Scott ;
resignation was rendered and accepted, and thlS
the first intmation thar the directors hah
that a sale had been contemplated. In fact IT rs
said that bc.arf the conversation between Scott
and GOuld began, the former al least was rs
ignorant as the rest of the board on the same SUD
icct. Mr.. GOuds readiness can safely De accepted
as proof that he was not entirely surprised IN the
premises The Missouri Pacific he also bought in
the same way After some n"gOtl?tions WIN
Commodore Garrison he named his pric'. winch
Mr.. Gould accepted, sent his check aud took con
troll of the road on the same day. The road thus
purchased was %, miles long and ran from 81
touis 10 Kansas City. In n few years Mr. Goul,i
made il the controlling factor in system which
contained 10000 miles of railway. running from
ST. Louis west 10 Omaha. southwest TO FL Paso.
connecting there with the NeNas Pacific, TO Laredo.
on the direct line To the City of Mexico, ana 70
Galveston. The Eastern tcrmn beside ~.
Louis. ara Chicago. Detroit and Toledo.