Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-01-05
GOULD RESIGNS
FROM THE BOARD.
Hunting and Social Leadership Not
Conducive to Business
Prosperity.
SALARY OF s5OO,OOO A YEAR.
sharp Rise in Gould Railway Stocks F0i-
lows Resignation-Gouid Dream said
to be shattered.

New York. Jan. 5.--Thar hunting
lodges in England and social leader
ship in America do not conduce 10
business prosperity is attested today
in n review OF the business career OF
George j. Gould. who yesterday re-
signed from the Board of Directors
of the Denver and Rio Grande TO be
succeeded by e. r. Jcffery, president
Of the road. who in turn was sue
caedcd by benjamin f. Bush
As result OF the retirement oil
Gsuld and The placing of the manage
mcnt OF The road in other hands.
there was a sharp rise in the price OF
.all the Gould railway stocks.
When Jay Gould, master OF fin
ancc. died he left $S0.000,00O to be
managed by his eldest son, George,
who was entrusted with the carrying
out of his fathers dream of 4 trans
continental railway under Gould con-
lrUi.
But George !. Gould has lost, one
by one. control Of the vast properties
his father left, until at last the
Gould family has become Il negligible
factor in The railroad world, where
once il rcigned supreme.
For 9 years prior TO his fathers
death George Gould, under his IA
ther's supervision. managed the
Gould properties at salary OF
$500 900 a year. During that time
The Gould properties increased en-
ormously ir wealth. When Jay Gould
died he controlled the Western IN
ION telegraph Company. the Man
haitian Elevated Railway Company,
the Missouri Pacific, the Wabash, the
ST Louis and Iron Mountain, the ST.
Louis. Arkansas and Texas, the Inter
national and Great Northern, and the
| American Telegraph and Cable Com
pany. He also held Il considerable
quantity OF Union Pacific securities.
AS long as George Gould attended
/ 10 his own business after his fathers
death he prospered. the Gould estate
becoming worth S120.0OO.OO0. Bnt
when. in 1902, Gould wrested con-
troll OF the Colorado Fuel and Iron
! Company from i. II. Hartman and
/ Edwin HawIey. his troubles began.
rp 1903, George Could announced
! that the Gould trans-continental Inc
would be in operation in Is months.
! comprjsing the Denver and Rlo
lGrande. the Missouri Pacific. the Wa
bash. the Western Maryland ana the
Western Virginia Central and Pitts
burgh. together with line he built
from Ogden to the Pacific coast and
called the Western Pacific.
Getting into Pittsburg was Goulds
buterest fight. but he won at fright
ful cost. for the Baltimore and ONO
and the Pennsylvania thereupon
"camDed on his trail" and never let
up on hmm Hartman, too. fought
him at every turn because OF ms
trans-continental line. Enemies oil
Gould cropped up everywhere. Where
once the name Of jay Could was q
symbol Of pawer, that OF George
Gould became one OF weakness. III
1906 Gould had his historic fight with
Joseph Ramsey, jr., for the presiden-
cv of the Wabash. and though he
won, il was a hollow victory. ont
west he incurred the cnmity OF rail
road commissions. In the panic oil
,i1961. Gould's dream Of 4 trans-con-
tincntal line vanished. In less than
, q wear the Western Maryland, the
Wheeling and Lake Erie, and the IN
ternational and Great Northern, were
in the hands of receivers.
Since then his properties have
slipped, one by one. from his control.
, AS Goulds social activities in
, creased his business power decreased.
: Only a few days ago he took a five
year lease on the Hunting Acres OF
Lady Menzies, in England. His es-
tate at Lakewood. y. j., has been the
scene of great social activities. But
, his business power seems gone.