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
“This is sworn evidence before a committee of Congress, and its humor
is perhaps the more conspicuous because there is every reason to
believe that there is not a word of truth in the story from beginning
to end. No such interview ever occurred, except in the unconfined
apartments of Mr. Fisk’s imagination. His own previous statements make
it certain that he was not at Corbin’s house at all that day, and
that Corbin did come to the Erie offices that evening and again the
next morning. Corbin himself denies the truth of the account without
limitation; and adds that when he entered the Erie offices the next
morning, Fisk was there. ‘I asked him how Mr. Gould felt after the
great calamity of the day before.’ He remarked, ‘Oh, he has no courage
at all. He has sunk right down. There is nothing left of him but a heap
of clothes and a pair of eyes.’ The internal evidence of truth in this
anecdote would support Mr. Corbin against the world.
“In regard to Mr. Gould, Fisk’s graphic description was probably
again inaccurate. Undoubtedly the noise and scandal of the moment
were extremely unpleasant to this silent and impenetrable intriguer.
The city was in a ferment, and the whole country pointing at him with
wrath. The machinery of the gold exchange had broken down, and he alone
could extricate the business community from the pressing danger of a
general panic. He had saved himself, it is true; but in a manner which
could not have been to his taste. Yet his course from this point must
have been almost self-evident to his mind, and there is no reason to
suppose that he hesitated.”
“His own contracts were all fulfilled. Fisk’s contracts all except
one, in respect to which the broker was able to compel a settlement,
were repudiated. Gould probably suggested to Fisk that it was better
to let Belden fail, and to settle a handsome fortune on him than to
sacrifice something more than $5,000,000 in sustaining him. Fisk,
therefore, threw Belden over, and swore that he had acted only under
Belden’s order. One of the first acts of the Erie gentlemen after the
crisis was to summon their lawyers and set in action their judicial
powers. The object was to prevent the panic-stricken brokers from using
legal process to force settlements and to render the entanglement
inextricable. Messrs. Field & Shearman came and instantly prepared a
considerable number of injunctions, which were sent to their judges,
signed at once, and immediately served. Gould then was able to dictate
the terms of settlement, and after a week of complete paralysis, Broad
street began at last to show signs of returning life.
Public-domain text, read in full here on John Shaqi.
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