Dark Genius of Wall Street

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Dark Genius of Wall Street Page 38

by Edward J Renehan Jr


  6. In 1847 the Rutland & Washington Railroad was granted a charter by the Vermont legislature to build a line from Rutland to the New York State line. Two years later, the Troy & Rutland Railroad was granted permission by the New York State Legislature to build a line from Troy to Poultney, Vt., and to connect to the Rutland & Washington. The two lines merged shortly thereafter.

  7. Report of the Committee of the Senate upon the Relations Between Labor and Capital, Senate Hearings. 41st Congress, Vol. 28. 1063–1064.

  8. William A. Cormier. The Back Shop and Other Tales: Railroading in Salem, New York, 1852–1995. Salem, N.Y.: Privately published. 1995. 8–9.

  9. Ibid. 10.

  10. Jay Gould to Helen Miller Gould. 27 January 1864. Jay Gould Papers, Library of Congress. (Hereafter JGP.)

  11. Jay Gould to Helen Miller Gould. 20 February 1864. JGP.

  12. Jay Gould to Sarah Northrop. 13 May 1864. HGS.

  13. Anna Gould Hough. “Mrs. Howe’s Reminiscences.” HGS.

  14. Jay Gould to Sarah Northrop. 26 April 1865. JGP.

  15. Elizabeth Gould Palen to Anna Palen. 25 March 1893. HGS.

  16. Jay Gould to William T. Hart. 27 June 1865. JGP.

  17. Jay Gould to James Oliver. 2 September 1865. Kansas State Historical Society. (Hereafter Kansas.)

  CHAPTER 12: MUCH TO GET DONE

  1. Angell v. Gould. 272.

  2. Richard O’Connor. Gould’s Millions. 47.

  3. Jay Gould to William T. Hart. 15 September 1865. JGP.

  4. Henry Clews. Fifty Years on Wall Street. 243.

  5. Sarah Gould Northrop. “Reminiscences.” HGS.

  6. Report of the Committee of the Senate upon the Relations Between Labor and Capital, Senate Hearings. 41st Congress, Vol. 28. 1064–1065.

  CHAPTER 13: THE ERIE IN CHAINS

  1. American Railroad Journal. 30 September 1865. 942.

  2. American Railroad Journal. 9 June 1867. 555.

  3. New York Tribune. 23 March 1878.

  4. Maury Klein. The Life and Legend of Jay Gould. 78.

  5. New York Herald. 9 October 1867.

  CHAPTER 14: BLUE FIRE

  1. Robert H. Fuller. Jubilee Jim: The Life of Colonel James Fisk Jr. New York: Macmillan. 1928. 127. Although an invaluable source on Fisk, Fuller’s volume must be read–and facts taken it from it–very selectively. Shaping his narrative in the form of a biographical novel rather than a straight biography, Fuller took it upon himself to re-create many scenes and conversations to which he could not possibly have been privy. On the other hand, he likewise retold numerous scenes in Fisk’s life, most notably, Fisk’s childhood and adventures during the Erie Wars, to which he was himself a witness. In these matters, Fuller’s account is nearly always the most informed and eloquent available.

  2. New York Sun. 8 January 1872.

  3. Robert H. Fuller. Jubilee Jim. 4.

  4. Ibid. 14.

  5. Clara Morris. Life on the Stage. New York: McClure, Phillips. 1901. 308.

  6. R. W. McAlpine. The Life and Times of Col. James Fisk Jr. New York: New York Book Company. 1872. 24.

  7. Robert H. Fuller. Jubilee Jim. 62.

  8. Ibid. 68.

  9. R. W. McAlpine. The Life and Times of Col. James Fisk Jr. 45.

  10. W. A. Swanberg. Jim Fisk: The Career of an Improbable Rascal. New York: Scribner’s. 1959. 21.

  11. Ibid. 26.

  12. Robert H. Fuller. Jubilee Jim. 119.

  CHAPTER 15: THE ABUSED MACHINERY OF THE LAW

  1. New York Herald. 12 October 1867.

  2. New York Herald. 5 February 1868.

  3. William W. Fowler. Ten Years on Wall Street. 496.

  4. Charles Francis Adams and Henry Adams. Chapters of Erie. 16.

  5. American Law Review. October 1868.

  6. Charles Francis Adams and Henry Adams. Chapters of Erie. 159.

  7. Allen Nevins and Milton H. Thomas, eds. The Diary of George Templeton Strong, Vol. 4. 264.

  8. New York Herald. 6 March 1868.

  9. American Law Review. October 1868.

  10. Charles Francis Adams and Henry Adams. Chapters of Erie. 29.

  11. Edmund Clarence Stedman. The New York Stock Exchange. New York: Stock Exchange Historical Press. 1905. 202.

  12. William W. Fowler. Ten Years on Wall Street. 500–501.

  13. Maury Klein. The Life and Legend of Jay Gould. 82.

  14. William W. Fowler. Ten Years on Wall Street. 501.

  15. New York Herald. 14 March 1868.

  16. Robert H. Fuller. Jubilee Jim. 145.

  17. Harper’s Weekly. 17 April 1868.

  CHAPTER 16: AN ALMIGHTY ROBBERY

  1. Robert H. Fuller. Jubilee Jim. 147–148.

  2. New York Herald. 15 March 1868.

  3. Edward Harold Mott. Between the Ocean and the Lakes: The Story of Erie. New York: Collins. 1899. 156.

  4. New York Herald. 17 March 1868.

  5. William C. Fowler. Ten Years on Wall Street. 505.

  6. Charles Francis Adams and Henry Adams. Chapters of Erie. 57.

  7. New York Herald. 12 March 1868.

  8. Robert H. Fuller. Jubilee Jim. 161.

  9. William C. Fowler. Ten Years on Wall Street. 507.

  10. New York Herald. 21 March 1868.

  11. Charles Francis Adams and Henry Adams. Chapters of Erie. 49.

  12. New York Herald. 3 April 1868.

  13. Charles Francis Adams and Henry Adams. Chapters of Erie. 51.

  14. Ibid. 50.

  15. Commercial and Financial Chronicle. 7 March 1868.

  16. New York Herald. 21 March 1868.

  17. New York Herald. 21 April 1868.

  18. Henry Clews. Fifty Years on Wall Street. 134.

  19. Edward Harold Mott. Between the Ocean and the Lakes: The Story of Erie. 161.

  CHAPTER 17: SCOUNDRELS

  1. Some of Morosini’s collection is today at the Metropolitan Museum of Art, bequeathed by his daughter Giulia in 1932.

  2. George Crouch. Erie Under Gould and Fisk. New York: Privately printed. 1870.

  3. Commercial and Financial Chronicle. 31 October 1868.

  4. Charles Francis Adams and Henry Adams. Chapters of Erie. 41.

  5. W. A. Swanberg. Jim Fisk: The Career of an Improbable Rascal. 74.

  6. Henry Clews. Fifty Years on Wall Street. 141.

  7. Commercial and Financial Chronicle. 14 November 1868.

  8. Edward Harold Mott. Between the Ocean and the Lakes. 161.

  9. New York Times. 19 November 1868.

  10. New York Times. 23 November 1868.

  11. For bonds, par value is the amount that the issuer agrees to pay at the maturity date, also called the maturity value or face value of a bond. For common stocks, par value is an arbitrary dollar amount assigned to each share by the company’s charter. Par value has little or no impact on the actual market value of a security. However, it is important in the case of preferred stocks and bonds, since the preferred dividend and interest are often based on the par value assigned to each issue. For example, an 8 percent bond is a promise to pay that percentage of the bond’s par value (100 percent of face value) annually.

  12. New York Herald. 18 November 1868.

  13. New York Herald. 19 November 1868.

  14. Commercial and Financial Chronicle. 31 October 1868.

  15. Henry Clews. Fifty Years on Wall Street. 144.

  16. Charles Francis Adams and Henry Adams. Chapters of Erie. 71.

  CHAPTER 18: THE SMARTEST MAN IN AMERICA

  1. New York Herald. 26 November 1868.

  2. Charles Francis Adams and Henry Adams. Chapters of Erie. 84.

  3. Henry Clews. Fifty Years on Wall Street. 140.

  4. New York Times. 7 December 1868.

  5. New York Times. 11 December 1868.

  6. Richard O’Connor. Gould’s Millions. 64.

  7. The Grand Opera House stood until 1960, ending its days as an RKO Theater. In the years between Jay Gould and demolition, the theater hosted perfo
rmances by such greats as George M. Cohan and Fred Astaire.

  8. New York Herald. 18 January 1871.

  9. Meade Minnigerode. Certain Rich Men. New York: Putnam. 1927. 201.

  10. Allen Nevins and Milton H. Thomas, eds. The Diary of George Templeton Strong, Vol. 4. 340.

  11. W. A. Swanberg. Jim Fisk. 117.

  12. William W. Fowler. Ten Years on Wall Street. 483.

  13. Maury Klein. The Life and Legend of Jay Gould. 92.

  14. The rare and highly collectible volume, with Jay’s bookplate from the period intact, recently came up for sale at an auction in New York.

  15. W. A. Swanberg. Jim Fisk. 95.

  16. Albany Evening Journal. 7 August 1869.

  17. Albany Argus. 7 August 1869.

  18. John Steele Gordon. The Scarlet Woman of Wall Street. 246.

  19. Leslie’s Illustrated Newspaper. 28 August 1869.

  20. New York Times. 8 September 1869.

  CHAPTER 19: WHERE THE WOODBINE TWINETH

  1. Abel Rathbone Corbin was no relation to John Burr Gould’s third wife or any of the other Roxbury Corbins.

  2. House Report Number 31. 41st Congress, 2nd Session. 148. (Hereafter House Report 31.)

  3. Maury Klein. The Life and Legend of Jay Gould. 101.

  4. House Report 31. 3.

  5. Ibid. 246.

  6. Ibid. 249.

  7. Maury Klein. The Life and Legend of Jay Gould. 103.

  8. New York Times. 25 August 1869.

  9. W. A. Swanberg. Jim Fisk. 136.

  10. Maury Klein. The Life and Legend of Jay Gould. 104.

  11. House Report 31. 35.

  12. W. A. Swanberg. Jim Fisk. 137.

  13. New York Tribune. 15 September 1869.

  14. House Report 31. 252.

  15. Ibid. 174.

  16. Maury Klein. The Life and Legend of Jay Gould. 105.

  17. William W. Fowler. Twenty Years of Inside Life in Wall Street. New York: Orange Judd Company. 1880. 528.

  18. New York World. 16 September 1869.

  19. New York Herald. 16 September 1869.

  20. Gold closed at 136 5/8 on Friday, 17 September, having gained only a single point for the week despite earnest buying by Gould, Fisk, and their associates.

  21. New York Sun. 20 September 1869.

  22. New York Times. 22 September 1869.

  23. W. A. Swanberg. Jim Fisk. 142.

  24. House Report 31. 257.

  25. New York Evening Mail. 23 September 1869.

  26. Maury Klein. The Life and Legend of Jay Gould. 108.

  27. New York Times. 24 September 1869.

  28. House Report 31. 259.

  29. New York Times. 24 September 1869.

  30. Maury Klein. The Life and Legend of Jay Gould. 110.

  31. Philadelphia Ledger. 25 September 1869.

  32. W. A. Swanberg. Jim Fisk. 154.

  33. House Report 31. 217.

  34. Ibid. 221.

  35. Maury Klein. The Life and Legend of Jay Gould. 115.

  CHAPTER 20: MEPHISTOPHELES

  1. Gustavus Myers. History of the Great American Fortunes. New York: Modern Library. 1936. 542. The first edition of this work, published in three volumes, appeared in 1909.

  2. Maury Klein. The Life and Legend of Jay Gould. 3.

  3. New York Times. 3 October 1869.

  4. Richard O’Connor. Gould’s Millions. 169.

  5. New York Tribune. 28 September 1869.

  6. The most recent published version of this spurious tale is in Denis T. Lynch. The Wild Seventies. Westport, Conn.: Praeger. 1971.

  7. New York Tribune. 9 October 1869.

  8. House Report 31. 272.

  9. Maury Klein. The Life and Legend of Jay Gould. 4.

  10. Railroad Times (London). 12 July 1884.

  CHAPTER 21: A SPECIAL STINKPOT

  1. Giovanni P. Morosini. “Memoir of Jay Gould.” HGS.

  2. Maury Klein. The Life and Legend of Jay Gould. 96.

  3. Report of the Committee of the Senate upon the Relations Between Labor and Capital, Senate Hearings. 42nd Congress, Vol. 26. 962–964.

  4. Heath et al. v. Erie Railway Co. et al., Circuit Court S.D., N.Y., 27 April 1871. Bill of Complaint.

  5. New York Herald. 12 May 1870.

  6. New York Herald. 14 May 1870.

  7. New York Herald. 28 May 1870.

  8. Punchinello, Vol. 1, No. 6. 7 May 1870.

  9. The Millers lived a block away at 518 Fifth Avenue.

  10. Edwin P. Hoyt. The Goulds: A Social History. 65.

  11. New York Herald. 20 August 1870.

  12. New York Herald. 22 August 1870.

  13. New York Herald. 18 January 1871.

  14. R. W. McAlpine. The Life and Times of Col. James Fisk Jr. 329.

  15. New York Herald. 18 January 1872.

  16. W. A. Swanberg. Jim Fisk. 209.

  17. Rising through the ranks from private to general during the course of the war, the youthful Barlow became known as the “boy general.”

  18. Erie Protective Committee broadside dated December 1871. New-York Historical Society.

  19. George Templeton Strong. Diary. 12 November 1871.

  20. Every one of the thirty-nine letters was published in its entirety by the New York Herald on 14 January 1872, a week after Fisk’s death.

  21. E. H. Mott. Between the Ocean and the Lakes. 421.

  22. Perhaps appropriately, given its macabre association with Fisk, a significant portion of the former Grand Central Hotel (later named the Southern and then the Broadway Central, to avoid confusion with Vanderbilt’s Grand Central Station) ended its days in the twentieth century as the Mercer Arts Center, a conglomeration of performance spaces large and small. (The balance of the building, sadly, became a welfare hotel.) The entire place collapsed suddenly in August 1973, killing four people and injuring many others. The building was located on Broadway at Third Street.

  23. W. A. Swanberg. Jim Fisk. 271.

  24. R. W. McAlpine. The Life and Times of Col. James Fisk, Jr. 356.

  25. Ibid. 336.

  26. The will Fisk devised in collaboration with Field and Shearman named Eben Jordan as executor and left Fisk’s entire estate (save for annuity payments of $3,000 a year for his father, stepmother, half sister, and several other dependents) to Lucy.

  27. W. A. Swanberg. Jim Fisk. 274.

  28. New York Herald. 8 January 1872.

  29. New York Sun. 10 January 1872.

  30. New York Herald. 8 January 1872.

  31. New York Sun. 9 January 1872.

  32. New York Herald. 8 January 1872.

  33. New York Herald. 9 January 1872.

  34. Maury Klein. The Life and Legend of Jay Gould. 122.

  35. Robert H. Fuller. Jubilee Jim. 564.

  36. New York Herald. 21 January 1872.

  37. New York Sun. 12 March 1872.

  CHAPTER 22: A DAMNED VILLAIN

  1. E. H. Mott. Between the Ocean and the Lakes. 180.

  2. Ibid. 191.

  3. Ibid. 192.

  4. New York Herald. 1 March 1872.

  5. John Steele Gordon. The Scarlet Woman of Wall Street. 348.

  6. E. H. Mott. Between the Ocean and the Lakes. 186–187.

  7. New York Sun. 12 March 1872.

  8. New York Herald. 27 September 1872.

  9. New York Herald. 25 November 1872.

  10. E. H. Mott. Between the Ocean and the Lakes. 210.

  11. New York Sun. 25 November 1872.

  12. New York Times. 13 December 1872.

  13. New York Herald. 13 November 1872.

  14. New York Commercial Advertiser. 26 November 1872.

  15. New York Sun. 27 November 1872.

  16. E. H. Mott. Between the Ocean and the Lakes. 212.

  CHAPTER 23: TRANSCONTINENTAL

  1. Alice Northrop Snow and Henry Nicholas Snow. The Story of Helen Gould. 67.

  2. Chauncey M. Depew. My Memories of Eighty Years. 216.

  3. Bingham Duncan. Whit
elaw Reid: Journalist, Politician, Diplomat. Athens: University of Georgia Press. 1975. 49.

  4. New York Times. 12 May 1873.

  5. Alice Northrop Snow and Henry Nicholas Snow. The Story of Helen Gould. 182.

  6. Henry Davenport Northrop. The Life and Achievements of Jay Gould. Philadelphia: National Publishing Company. 1892. 316.

  7. Jay Gould to William Ward. 9 January 1874. JGP.

  8. New York World. 1 September 1873.

  9. W. T. Stead. “Jay Gould.” American Review of Reviews. January 1893.

  10. Jay Gould to Thurlow Weed. 5 May 1875. Thurlow Weed Papers, University of Rochester. (Hereafter Weed.)

  11. Maury Klein. The Life and Legend of Jay Gould. 138.

  12. House of Representatives Reports. 42nd Congress, 3rd Session. Nos. 77 and 78.

  13. United States Pacific Railway Commission, Testimony, Executive Document No. 51. Senate, 50th Congress, 1st Session. 1887. 446.

  14. Julius Grodinsky. Jay Gould: His Business Career, 1867–1892. 118.

  15. Maury Klein. The Life and Legend of Jay Gould. 140.

  16. Grenville M. Dodge to Nate Dodge. 27 March 1874. Grenville M. Dodge Papers, Western Historical Collection, Denver Public Library. (Hereafter Dodge.)

  17. Giovanni P. Morosini. “Memoir of Jay Gould.” HGS.

  18. Julius Grodinsky. Jay Gould: His Business Career, 1867–1892. 127.

  19. Maury Klein. The Life and Legend of Jay Gould. 144.

  CHAPTER 24: CONSOLIDATION

  1. New York Times. 27 October 1877.

  2. Jay Gould to Sidney Dillon. 12 September 1875. JGP.

  3. “Memories of the Old West.” Lincoln State Journal. 2 March 1930.

  4. Gould’s overall attention to the details of the running of the UP is documented in the large collection of his letters to Silas Clark. These are in the collection of Jay’s great-grandson, Kingdon Gould, Jr., at the latter’s summer home in Arkville, N.Y. Duplicates of these items are housed in the Maury Klein Papers, University of Rhode Island, Kingston. Klein gave an in-depth description of Gould’s interaction with Clark in his Life and Legend of Jay Gould.

 

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