The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1911-03-13
TWENTY YEARS R, R,
WAR ENDS TUESDAY
George ]. Gould to Present
Resignation to M. P. Ry.,
Bringing Peace.

Close OIL luesudV dt the annual Ineel-
ing OF the shareholders of the Mis-
souri, Pacific railroad in St. Louis.
when George J. Gould will present his
resignation as president OF that road
and new men will be elected TO sue
coed the representatives OF the Gould
interests on the board of directors.
Thus will end twenty years war
which has been ~aged rclentlesly by
the financial giants of Wall street for
the control of the Gould properties:
thus will George Gould's dream of con-
trolling n coast TO coast railroad be
rudely dispelled.
Since the death of old Jay Gould in
1892. the control of his many valua-
BILE properties has gradually been
wrested from the family. First the
Manhattan Elevated line was gobbled
up by the marlborough; then the Wes-
torn Union Telegraph Co. was alb
sorbed by the A. 4. and r. Co; and
now the Missouri Pacific the holding
company for the Gould railroad prop
critics and considered one OF the most
valuable of all the Gould holdings will
pass into other hands.
But these changes were not affect
cd without struggle. the history of
which makes interesting reading.
At every turn George Gould has met
his enemies with "a courage born of
desperation. but the odds were too
great and he has at last been forced to
capitulate.
This does not mean. however. that
the Gould fortune has dwindled in
size: on the contrary II has greatly in
creased. II simply marks the disap-
pcarance of the Gould fortune as a
power In the financial world.
The story of this war had Its begin
ming In the early eighties when old
Jay Gould was the most powerful. as
we'll ms the most feared man In Wall
street. His particular hobby was the
securing of control OF various railroad
properties which he would proceed TO
wreck and then dispose of. He had
great faith In the possibilities OF the
west and southwest. and many Wall
street hnancier looked on his proper
ties In that section with covetous
eye. But they knew better than to at
tempt TO monkey with the wizard of
American finance"
When the old gentleman died in
1892. however. the long delayed fight
for the valuable Gould property imme-
diately began. His will divided his
vast fortune among his children. but
provided that all his stock holdings
should be voted at the various meet.
ings rs unit. and gave George J.
Gould. his eldest son. the power to
control such votes. At this time
George Gould was only twenty-six
years Of age. but ten years under his
father careful tuition had developed
his business and fighting ability to a
great extent. He had inherited "A
craze for acquiring railroad properties
and his great ambition was TO gain
control of road which would stretch
from the Atlantic TO the Pacific.
The most valuable pieces of railroad
property in the Gould estate was the
Missouri Pacific which stretches from
Kansas City to Denver. and by secur.
ing control of the Denver and Rio
Grande. George Gould extended his
line into Salt Lake City.
In the meantime in order to carry
out his plans In the west and south
west Gould was forced to sacrifice his
holdings in the Manhattan Elevated
Co, which was purchased by the Inter
borough In 1902.
by this time George Gould had con
verted the Missouri Pacific into a val
liable property. A control of the ma
jority of the stock of the Wabash car
ricd 1t as far east as Buffalo. and the
purchase of the Denver and Rio
Grandc brought IL west to Ogden
Utah.
II was now time to procure a termin
us at the Atlantic seaboard. His first
step was to gain an entrance into
Pittsburg. which he did by securing
control of the Wheeling and Lake
Erie. He then began work on his Wa
ash-Pittsburg terminal.
The next step was TO secure control
of tho Western Maryland which ran
from Baltimore inland. and the West
Virginia and Central Pittsburg. which
ran east from the Smoky City. BE
tween these two roads there was q
slight gap which Mr.. Gould Gould pro
posed to bridge by building new
road. With this exception the only
link necessary to complete the chair
Of road from coast to coast was tina,
from Salt Lake City to the coast. ant
TO complete this Mr.. Gould started tc
build the Western Pacific.
But his troubles had already begun
The other railroad interests recogniz
ing the value of the Gould properties
and the serious competition Ii would
offer had already begun a war to GUS
George Gould as the head of the sys
TEN. As early as 1902 the young fin
ancier had n severe struggle with L.
III. Hartman and Edmund Hawley fol
the control OF the Colorado Fuel ant
Iron company. but succeeded in worst
Ing his opponents The Pennsylvania
bitterly opposed his entrance into
Pittsburg and SO bitter did this figh
become that after the erection of tn,
Wabash. Pittsburg terminal. the Penn
sylvania ordered the Western Unto,
TELEGRAPH company which the Gould
control, to take down their lines cas-
OF Pittsburg along the route of tina
road.
In 1905 Mr. Gould had serious dis
agreement with Joseph w. Ramsay
Jr.. his right hand man. and presiden
of the Wabash. which eliminated II
Ramsay's discharge. At the annua