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
flinging away his gold at any price he could get for it.
“Whether Fisk really expected to carry out his contract, and force
the bears to settle or not, is doubtful, but the evidence seems to
show that he was in earnest and felt sure of success. His orders were
unlimited. ‘Put it up to 150,’ was one which he sent to the gold-room.
Gold rose to 150. At length the bid was made--‘160 for any part of
five millions,’--‘162 for five millions.’ No answer was made and the
offer was repeated--‘162 for any part of five millions.’ A voice
replied, ‘Sold one million at 62,’ The bubble suddenly burst, and
within fifteen minutes, amid an excitement without parallel even in the
wildest excitements of the war, the clique workers were literally swept
away and left struggling by themselves, bidding still 160 for gold in
millions which no one would any longer take their word for, while the
premium sank rapidly to 135. A moment later the telegraph brought the
government order from Washington to sell, and the result was no longer
possible to dispute. Mr. Fisk had gone too far, while Mr. Gould had
secretly weakened the ground under his feet.
“Gould, however, was saved. His fifty millions were sold; and although
no one yet knows what his gains or losses may have been, his firm was
now able to meet its contracts and protect its brokers. Fisk was in a
very different situation. So soon as it became evident that his brokers
would be unable to carry out their contracts, every one who had sold
gold to them turned in wrath to Fisk’s office. Fortunately for him it
was protected by armed men whom he had brought with him from his castle
of Erie; but nevertheless the excitement was so great that both Mr.
Fisk and Mr. Gould thought it best to retire as rapidly as possible to
a back entrance leading into another street, and seek the protection of
the opera house. There nothing but an army could disturb them; no civil
mandate was likely to be served without their permission within these
walls, and few men would care to face Fisk’s ruffians in order to force
an entrance.
Public-domain text, read in full here on John Shaqi.
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