The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay GouldWhite, Trumbull
History
The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay Gould
White, Trumbull
Businessmen -- United States -- Biography; Capitalists and financiers -- United States -- Biography; Gould, Jay, 1836-1892
Estimates made by other newspapers and other financiers, however, who
have equally good authorities on which to base their opinions, vary all
the way from $50,000,000 to $150,000,000.
In calculating the amount of Mr. Gould’s estate, the first difficulty
met with lies in the fact that the records of his various companies
by no means tell the story of his holdings in their securities. More
even than many of his rivals, he has followed the policy of getting
along without going through the formality of letting the extent of his
ownership appear on the books of the companies. Besides, although he
reduced the number of his investments in the last few years--at least
the street says he did so--he had interests extending over a wide field.
In only one branch of investments did Mr. Gould do very little, and
that was in real estate. His possessions of real property were far
smaller than those of many men not one-tenth as wealthy. He had his
place at Irvington which represents $750,000 to $1,000,000, and his
Fifth avenue house, worth $300,000 to $400,000. Several years ago he
bought real estate in St. Louis, which the Missouri Pacific expected
to use for headquarters. He paid $150,000 for this piece of property,
which is supposed to be worth three times that amount now.
In spite of his policy of concentrating his holdings in his later
years, the list of companies in which Mr. Gould had large interests is
an imposing one. The principal corporations with which he was connected
at the last include the Missouri Pacific railroad, the St. Louis and
Iron Mountain, the International and Great Northern, Richmond Terminal,
the Texas Pacific, the Union Pacific, the Wabash, the St. Louis
Southwestern, the Manhattan Elevated road, the Pacific Mail Steamship
Company, and the Western Union Telegraph Company.
Moreover, these corporations cover scores of smaller and subordinate
companies. Through Missouri Pacific Mr. Gould was interested in
something like fifty companies, and the other great systems would run
the list of the subordinate concerns up into the hundreds. As president
of the Union Pacific, Charles Francis Adams once testified that he did
not know how many presidencies he held, and Mr. Gould would have had an
excuse several times better than Mr. Adams possessed for not having at
his finger ends the number of concerns with which he was connected. At
his office yesterday nobody would venture to say what the list would
foot up.
Public-domain text, read in full here on John Shaqi.
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