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
The loyalty of S. S. H. Clark, general manager of the Missouri Pacific
and president of the Union Pacific, to Mr. Gould has been the subject
of frequent comment. Mr. Clark is by no means a low-priced man, and the
fact that he has long been one of Mr. Gould’s trusted lieutenants means
that he has not worked for low pay.
It is related that the Atchison people once tried to get Mr. Clark
to enter their employ by offering him an advance of $10,000 on the
salary the Missouri Pacific company was giving him. Mr. Clark promptly
refused the offer and said nothing. Mr. Gould, however, heard of the
matter from other sources, and on the Christmas day following Mr. Clark
received a check for $50,000 with a short note which read: “A merry
Christmas to my loyal friend.--Jay Gould.”
“During the big strike troubles in the Missouri Pacific,” said one
broker, “one of the employees who stood by the company was shot and
killed. I entered Mr. Gould’s office a few days later and found him
making out a check. As I approached the desk I saw that the check was
for $5,000, drawn to the order of the widow of the murdered man. Mr.
Gould quickly turned the paper face downward.
“‘You are too late, Mr. Gould,’ I said. ‘I unintentionally read the
check.’
“He smiled a little as he quietly remarked, ‘We must look out for those
who stand by us.’”
CHAPTER XX.
A CHAPTER OF ANECDOTES.
While it is true that Gould loved to envelope his transactions in
mystery, and was a master of the art of keeping silence, and though
during most of his life he was engaged in financial intrigues and
occult speculations, yet the main facts of his life can be found
in the official records of law cases and the numerous legislative
and congressional investigations that were held on many of his
transactions. The facts of this volume are not to be understood as
doing Mr. Gould an injustice, for almost the worst things that are said
about him are the ones to which he himself testified under oath.
The greatest financial transaction ever consummated in America is
believed by many people to have been the creation of the Union Pacific
Railway Company by Jay Gould. By a stroke of financial genius at once
bold and adroit, he consolidated into that corporation other great
railroad companies, assuming control of all. It will be remembered
that the Union Pacific Railroad Company and the Union Pacific Railway
Company are two distinct corporations. The former was the original
company.
It was in 1873 that Gould went into Union Pacific. He bought about
$10,000,000 of the stock, had it bound into a book and put it in a
safe, as he told a friend at the time, “for his wife and family as an
investment.” In 1878 Gould conceived the idea of a grand _coup_, and
this was carried out so successfully that in sixty days he had made
terms which netted him about $21,000,000 in profits.
Public-domain text, read in full here on John Shaqi.
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