The Devils Lake world and inter-ocean. (Devils Lake, N.D.) 1915-1920, 1919-07-16
GOULD ] i. J. FORTUNES OR y ! s
AGAIN At FLOOD
Come Out Of Lane Of Disappoint-
ment and Depression
LUCK .ll IS A LARGE FACTOR

o Wy'EEEF -A.Hs' ssE.At.. LHsErJ ~. -E.T... NE p
Story Of "~comeback' 10 Told by Rich.
ard spllIane-HardIy 4 Property
Over Which oouIds One Time Held
Sway but Went to Disaster-Now
From Out Of Western Waste Comes
Mighty Golden Shower TO aoulda
Among the many old saws is the
one that It is a 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 a peddler Of
mousetraps to be the greatest manipu-
lator Wall Street ever has known. He
died leaving a fortune of $7O,OOO.O00
and a 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 q property over
which the Goulds held sway but went
to disaster.
Look at a partial list Of those that
went bankrupt: The Missouri Pacific,
Denver and Rio Grande, Wabash, st.
Louis, Iron Mountain and Southern.
Texas and Pacific and Western Pa
cife.
Saved by Absorption.
But for It's absorption by the Ameri-
can Telephone and Telegraph 1t was
inevitable the Western Union. would
have followed the others. Only the
Manhattan IL" In New York eortin-
ued to prosper.
George j. Gould and the various
other Goulds dropped out Of the d.
rectorntes Of many corporations and,
gradually, came to be numbered among
the has-beens.
And now from out Of the western
| wastes comes q mighty golden shower
to the Goulds.
The Texas and Pacific Railroad com
pany never has earned a dividend. It
has been q. waif and a stray and a
worry for 10! these many years.
To every great corporation there
are pendant little corporations. So it
happens that to the Texas and Pacific
there is a Texas and Pacific Coal COM
pany. This concern has certain lend
rights which. were taken over by 1t
to develop, for there is some coal in
north TEXAS. This Texas and Pacific
Coal company dates back to 1888.
It never amounted to much until they
struck oil In north Texas. Now the
lands Of the company are pock-mafked
with oil holes. The shares Of the
Texas and Pacific Coal and OIL com
pany They've added oil to the title)
are quoted above $2,100 a share, this
despite the fact that the capitalization
has been increased 81, 100000 on three
occasions within q comparatively
short time. The new capital has gone
to the old stockholders at 800 q share.
Had Tesas ard Pacific Ia Junk Box
The Goulds had 4. q P. coal shares
in their strongboxes along with
no ends Of stuff Of little or no
worth Of other Gould properties
that went to ruin. Now these certfd;
Gates of the II p. have an amazing
value. How much Of the !$ayO00yO0C
oiSitandinliE the family owns is not
known outside q select circle.
They couldn't sell their shares at
l2i0o 'a:spiecea That IL the asked
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