Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1898-09-09
RICH FRANK GOULD.
JAY GOULD'S YOUNGEST CHILD
COMES OF AGE.
Ills Share of the Gould Fortune
Will he at Least $l7, 900, 900,
Giving Him an Income of So, 900

XII 1uSoIuS vi To,OOO
aday.
Within Il few days Frank Gould, the
youngest of the children of the late
Jay Gould, will have come of age.
The event is of extraordinary i'm
portancc, for it rarely happens that
the coming of age of man is attended
with such far-reaching consequences.
Frank Gould not only comes into
his shares Of the vast Gould fortune,
but his coming of age makes operative
a clause in the will Of the Jay Gould,
which, when carried into effect, may
create quite stir in the financial
world.
The late wizard of Wall street"
provided that when the youngest of
his children had come of age the
estate should be divided, so that each
should get his share. This means
that within few days stocks, bonds
and securities which have been Sc
curely tied up under the provisions
of the Wizards" will, are to he placed
on the market and the proceeds divi-
ded for the benefit of the heirs.
What the exact amount of the
Gould fortune WAS no one ever knew
outside Of Jay himself, and it is doubt
full if even he himself could tell with
i'll many hundred of thousands Of
dollars what he was worth. Outsiders
estimated the fortune at from $780,
10000 to $50, 100000. Even accept
ing the smaller amount as being near.
est the truth, it would leave nearly
SIT 100000 to each of the six
children.
In few day, then, this fortunate
young man will have a fortune of at
least $l7 100000 at his disposal. What
this vast sum means is difficult for
the ordinary man or woman to realize
Carefully invested such a sum would
yield an income of $l 100000 n year.
1t would mean an income OF about
$4,000 week, $1,000 day and 1925
every hour.
There arc millions of men in this
and other countries who think them
selves fortunate if they control an in
come of $40 week. Frank Gould
will have the income of a whole thou
sand of such men. With a million
dollars u year income he can secure
everything that mortal man can rea-
sonably desire. Such an income
would have been considered at vas
sum for the entire fortune OF man
twenty years of age.
What effect the dividing of the
Gould estate will have on the financial
world is difficult to tell at present, but
good judges think it will have far
reaching results. Many are predict
ing events of starting Importance.
What are called the "Gould in.
tercsts" are SO extensive, so widespread
and branch into SO many other in
terests that any change in them must
have tendency to seriously affect the
financial centres of this country.
The principal Gould properties are
the Wabash, the Texas Pacific, the St.
Louis Southwestern, the Missouri
Pacific, the Manhattan Elevated road
and the Western Union Telegraph
Company. There are several other
smaller properties in which the estate
has controlling interest or holds n
large share of all the stock.
Here in New York one of the first
results expected is the consolidation
of the Manhattan Elevated road and
the Metropolitan Traction Company.
The Manhattan has been suffering
very seriously of late from the cOmpe-
tition of the Metropolitan and consol-
idation is considered the only solution
of the difficulty. The coming OF age
of Frank Gould giving him an equal
share and voice in the control of the
Gould estate, will permit of the desired
consolidation being effected.
Frank Gould will be controlled in
this transaction by his sister Helen,
and she listens closely to and generally
acts on the counsel of Russell Sage.
Edwin Gould and the Countess Castel-
lane are prone to follow the sound
Judgment of Helen in matters tinan-
cial, and Howard always sides with
his sister to avoid an argument.
Frank Jay Gould was n child when
his father died. He is his sister Hell
ems devoted brother. She rules him.,
and in everything, especially in
finance, her opinion is good enough
for him. Frank came into public
view at once, and that rs dog-fancier.
He established kennel of worldbeat-
ing st. Bernarls at Lyndhurst, the
Gould summer place at Irvington-on-
the Hudson.
By the terms of Jay Gould's will
Lyndhurst belongs to Helen Gould
until Franks twenty-frst birthday
They live there together in summer,
and in winter in the Fifth avenue
house. Frank rides bicycle. He
rode to Philadelphia and back in ten
hours, 200 miles, which broke the