Catoctin clarion., 1919-09-04
COULD FORTUNES !
/ .>ACAIN AT FLOOD
Come Out Of Lane of Disappoint.
ment and Depression.
LUCK IS A LARGE FACTOR
Story Of "conebaek" Is Told by Rich
ard spilIan Hardy a PROPERTY
Over Which Goulds One Time Held
Sway but Went to Disaster-Now
From Out Of Western Waste Comes
Mighty Golden Shower to Goulda

Among the many old saws is the
one that 1t is long lane that has
no turning. The GOulds have come
out from the lane Of disappointment,
defeat and depression into the high
way Of big profits and bigger promise,
writes Richard Spillane in the Chi
cagO Post.
Queer Is the history of the Goulds.
Old JAY Gould rose from peddler of
mOusetraps to be the greatest manipu-
lator Wall Street ever has known. He
died leaving fortune of $70,0O0,OQQ
and q record without one constructive
act and many of destruction,
George j. Gould testified some six
or eight years ago after his fathers
death that the Gould fortune. instead
OF being decreased, as generally sup
posed, had been increased up to that
time.
There can be no doubt, however. as
to what happened later. The millions
melted. Hardly property over
which the Goulds held sway but went
to disaster.
Look at q partial list Of those that
went bankrupt: The Missouri PacifG.
Denver and Rio Grande, Wabash st.
Louis, Iron Mountain and Southern,
Texas and Pacific and Western Pa.
clfic,
Saved by Absorption.
But for It's absorption by the Ameri-
can Telephone and Telegraph It was
Inevitable the Western Union would
have followed the others. Only the
Manhattan 81" In New York contin-
ued to prosper.
George J. Gould and tho various
other Goulds dropped out of the di.
rectorates of many corporations and,
gradually, came to be numbered among
the has-beens.
And now from out of the western
wastes comes a mighty golden shower
to the Goulds.
The Texas and Pacific Railroad com.
pany never has earned dividend. II
has been waif and stray and
worry for 10! these many years,
To every great corporation there
are pendant little corporations. So II
happens that to the Texas and Pacific
there Is a Texas and Pacific Coal com.
pany. This concern has certain land
rights which were taken over by II
to develop, for there Is some coal In
north Texas. This Texas and Pacific
Coal company dates back to 1888.
1t never amounted to much until they
struck oil In north Texas. Now the
lanis of the company are pock-marked
w.th oil holes. The shares Of the
Texas and Pacific Coal and OIL com
rany (they've added oil to- the title)
are quoted above $500 q share, this
despite the fact that the capitalization
has been increased $1,OOO,OOO on three
occasions within comparatively
short time. The new capital has gone
to the old stockholders at 500 share
Had Texas and Pacific In Junk Box.
The Goulds had T. & P. coal shares
In their strongboxes along with
no ends of stuff of little or nc
worth Of other Gould properties
that went to ruin. Now these certifi
Gates Of the T & P. have an amazing
value. How much of the $5,00O,O0C
outstanding the family owns Is not
known outside a select circle.
They couldn't sell their shares at
$500 piece That Is the asked
price. But 1t Is the confident belief
that before the coal and the oil on the
lands controlled by the company peter
out there will be profits in excess OF
$1OO,OOO,OOO, or several hundreds OF
millions to divide among the share,
holders.
The Goulds have "come back" by q
freak of fortune,