The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1919-06-14
GOULD FORTUNES
AGAIN AT FLOOD
Come Out of Lane of Disappoint.
ment and Depression.
LUCK IS A LARGE FACTOR
Story Of "comeback" Is Told by Rich.
ard Spillane-HardIy Property
over Which GouIds One Time Held
Sway but Went to Disaster-Now
From Out Of Western Waste Comes
Mighty Golden Shower to GouIds.

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,
deteat 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 fortune of $7O,OOO,OOO
and 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 I'D 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 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
ciic.
Saved by Absorption.
But for its absorption by the Amerf-
can Telephone and Telegraph it was
70 hn
have followed the others. Only the
Manhattan IL" in New York contin-
ued to prosper.
George J. Gould and the various
other Goulds dropped out Of the d.
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 q dividend. It
has been waif and a stray and
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 land
rights which were taken over by it
to develop, for there is some coal in
north Texas. This Texas and Pacific
Coal company dates back to 1883.
It never amounted to much until they
struck oil in north Texas. Now the
lands Of the company are pock-marked
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 $1,000 a share, this
despite the fact that the capitalization
has been increased 100000 on three
occasions within comparatively
short time. The new capital has gone
to the old stockholders at $1OO 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 no
worth Of other Gould properties
that went to ruin. Now these certif1-
Gates Of the T & P. have an amazing
value. How much Of the $5,OOOOOO
outstanding the family owns is not
known outside a select circle.
They couldn't sell their shares at
$500 a piece. That is the asked
price. But it 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
$1O0,O00,000, or several hundreds of
millions to divide among the share
holders.
The Goulds have "come back" by a
freak Of fortune.