The Washington herald., 1919-06-08
Finance Has Romances
Euen War Can't Destrou
Gould Millions Come from Out Lane of De-
feat Into Highway of Big Profits
and Bigger Promises

Among the many old saws Is tho
one that it Is q 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
Queer Is the history of the Goulds
Old Jay Gould rose from q peddlel
of mousetraps to be the creates
manipulation Wall street ever has
known. He died leaving a fortune
OF so. 100000 and q record without one
constructive act and many OF de.
struction.
George ]. Gould testified some sls
or eight years after his father
death that the Gould fortune, in.
stead of being decreased. as gener.
ally supposed. had been increased uI
to that time
There can be no. doubt, however
as to what happened later The mil
lions melted. Hardly a property over
which the Goulds held sway but went
to disaster. Look at a partial lis,
OF those that went bankrupt: The
Missouri Pacific: Denver and Rio
Grande; Wabash; st. Louis, Iror
Mountain and Southern; Texas and
Pacific: and Western Pacific.
But for its absorption by the A,
t. and T. it was inevitable the West.
ern Union would have followed the
others. Only the Manhattan IL" in
New York continued to prosper.
George j. Gould and the ysr;ous
other Goulds dropped out of the Al.
rectorates of many corporations and
gradually. came to bo nur,hara,,
among the has-beens. W
And now from out of the westerr
wastes comes a mighty golden Shove,
to the GouIds. Ct
The Texas and Pacific r. r Co
never has earned a dividend. II has
oeen waff and a stray ana a worry
Tor 10! these many years.
To every great corporate there ars
pendant little corporations. So N han.
pens that to the Texas and Pac;6,
there Is Texas and Pacific Coal CO
Inls concern has certain lana rights
which came to the T. and p. and wer,
taken over by 1t to deveIop. for tbers
some coal In North Texas. Tbi,
=. and r. Coal Co. dates back 10 1sss
IL never amounted to much until they
struck Oil In North Texas. Now The
lands OF the company are pockmarked
with Oil holes. The shares of the r
and P. Coal and OIL Co. (they'ye ad.
ded oil to the title) are quoted above
sIlU share, this despite the fac,
tnat the capitalization has been in.
creased 100000 on three occasions
WITHIN comparatively short time
The new capital has gone to the oid
stockhoiders at 800 a share.
The Gouids had IT. and p. coal
snares In their strongboxes along with
no enos or stun of little or no worth
or other Gould properties that went 10
rum. NOW these certificates of the
ana r. nave an amazing value
row much OF the 5000, 900 outstandinp
.he fanny owns Is not known outside
select circle
They couldn't sell their shares a,
s2,10o apiece. That is the asked n,,a.
But 1t is the confident .be,Ies th.t ~
lore the coai and the oil on the lands
controlIed py the company peter out
oooo0 or several hundreds of mi,ijons
to divide among the sbarebo,ders
The Goulds have come back" nv .
freak of fortune.
A Fortane from n Loan Of g.
Fact occasionally is stranger
than fiction. This a story of fact
only one name will be given but
that is sufficient. The name is that
OF Tax Receiver Kendrick, of phil
adelphia.
Some years ago there came to Mr.,
kendrfck q young man in much dis
tress. He was penniless and under
2 cloud He had been a minor Of
ncer In company and those above
him had made him the goat" IN
Questionable transaction and as q
result, he had been indicted and
narrowly escaped prison. He was
Out OF work Mr.. Kendrick assist-
ed him in getting job for the
noiioays as a watcher or detective
In department store to see that
thieves did not take advantage OF
the crowded condition OF the es-
taoIishment to pilfer.
The young man held the Job until
wen along in January Then he
was released He had made the
acquaintance meanwhile of a young
man who will be called Jones, but
that is not his name.