The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-10-01
ATTACK ON GOULD INTERESTS.
The Commonly Accepted story Be-
hind the Assault.

hind the Assault.
W. G. Nicholas, in New York Telegraph
Excitement in copper stocks was over
Swallowed yesterday in Wall street by the
attack on the Gould specialties. Missouri
Pacific, the Gould favorite in the specula-
tive market, was the center of attention
and broke $3.50 per share. representing a
net loss Of $500, 900 in thai speciality alone.
Manhattan dropped to IS points. less $1,000
coo. Wabash fell away $4,000 o and West
ern Union $500, goo. The Gould specialties
show a loss total on the day of close to
$l0,O00,00, to say nothing of a decline in
Union Pacific in which the Goulds are
heavily interested in conjunction with their
very good ally, Mr.. Hartman.
The commonly accepted story behind the
attack on the Gould stocks and the terrific
loss attendant thereon is that serious diff
ferences have arisen between George Gould
and John ID. Rockefeller and his associates
differences so radical as to amount 10
practical divorce. Mr.. Rockefeller for a
year or more has been regarded as the
backbone of the Gould combination and it's
schemes OF expansion and railroad con-
soidation and extension with which the
Gould name has been linked.
When Missouri Pacific was under 80 Mr..
Rockefeller, in association with George
Gould, financed the company through a
season of poignant distress, accepting the
bonds of the corporation in exchange for
cash-S2,5O0,O00 cash and $15,0oO,0OO bonds,
or approximate thereto, according 10 COM
mon report. A year later the bonds were
exchanged for stock, which was then quot
ed many points above par. The joint hold
ings of Messrs. Gould and Rockefeller in
the stock OF Missouri Pacific taken on be-
low 80 are said to have exceeded 10000
shares. If everything could have been mar
keted at top figures there would have been
a profit in the deal of more than $l5.OOo,OOO
for the two, results sufficiently tangible
TO attach the wizards son to the Standard
Oil king with ropes of gold.
All would have been well If the history
had ended there. Unfortunately, however.
the Gould plans were vastly more compre-
hensive and far reaching than mere daily
ing in Missouri Pacific. They included the
consolidation of many Western and South
western systems into a greater Missouri
Pacific, and the extension of the line into
the Eastern territory pre-empted by the
Pennsylvania and other established trunk
lines.
These projects involved the ambitions
persons not touched in the original pro-
gramme. Loyal soul that he was, Mr..
Rockefeller stuck by his youthful coadjutor
and did not deny that he was backing the
play to the uttermost limit. Ere long the
Gould plans collided with the Pennsylvania
in the open and incidentally brought the
Morgans and the Vanderbits into the
game.
Now, as a general proposition Mr.. Rookie
Teller might not have avoided a fight with
Mr.. Morgan, for his banking interests had
more than once been forced into unpleasant
eclipse or at least partial observation on
account of the Morgan prominence, but the
dictator of the petroleum trade of two con-
tin6ntS had nothing against the Pennsyl-
vania. On the contrary, he is a heavy
shareholder in Pennsylvania and Is on the
best of business terms with the officials and
leading shareholders Of the transportation
company, a friendship dating away back
to those halcyon rebate lays.
The Pennsylvania ought in many ways
TO reach Mr.. Gould with arguments to prove
to him the folly Of trying, TO enter into a
railroad field already occupied. Failing to
produce the desired effect in some ways
they tried others. How they did IL never
can be disclosed until the unwritten history
of the greatest OF all railroad companies is
told. Suffice it to say that not long ago a
GOODNESS sprung up between Messrs. Gould
and Rockefeller. TIL GOODNESS eliminated
in the scenes on the New York Stock Ex-
change yesterday.
Those who have been laSoring with Mr..
Gould to dissuade him from proceeding with
his far-reaching enterprises and encroach-
ing on the preserves or MS nelSnDOrS eA-
plain it by saying that he was incapable OF
taking a hint not supplemented with a kick,
and that il has been found necessary 10 dd-
minister the latter in order 10 properly
illuminate his gray matter. They contend
the amenities Of the millionaire club which
permits the members thereof TO take pos
session of as much of the map as they can
get away with, provided 1t already has not
been staked out by fellow-members. In this
latter particular they say Mr.. Gould mas
been remiss and that it has been found nee
essary for the committee on discipline 10
take a hand.
to a season of isolation, and as a prelim-
mary Mr.. Rockefeller pulls away from him.
1t is said the major part of the selling
of Gould stocks yesterday was for account
of MIR. Rockefeller. His holdings in Missouri
Pacific being larger than in any of the
Goulds the pressure was greatest IN that
speciality, with the result that the price
broke from 103 to SO, a sheertdescent of seven
points. Last quotations were ABOVE the IN
side, the pressure being relaxed Tor a mo-
ment just before the finish of the session.
In all $1,000 shares We're traded IN. Man
haitian, another of the Gould favorites, con-
tributed $1,000 shares to the total trans
actions of the day with the shrinkage afore-
mentioned. The Wabash and Western Union
did not figure extensively In the totals, but
they lost ground decisively.
Altogether it was a baG five hours Tor
the Gould stocks. The animus and the
source of the attack was cleverly concealed
until nearly the close by the employment
of brokers usually picked out TO lead bear
raids. The selling of short stock is not as
effective as the unloading of long property,
and so long as ii can be made TO appear
that the bears are doing the selling instead
market is less likely TO break. That was
the result yesterday. The market held
fairly until well along I'm the afternoon,
thus enabling the Rockefeller party to get
rid Of immense lines of securities at better
prices than they otherwise would nave
been able to obtain.
Inc DIedk oetNeeh me SouNG9 a..
Rockefellers is an event of first Importance
in Wall street, and may have a far-reach-
ing effect in many directions. Efforts were
made late in the day and continued
throughout the evening 10 heal the diner
ences and reconcile the principals. II the
punishment is 10 stop with the hrst lesson
that lesson being in the nature or as
cipline-the fact will be patent very soon.
If the split is TO be permanent the street
also will soon be able to determine the
truth.
For the time being interest will be shifted
from copper to the Gould stocks.