Shortly after Gould left for Wall Street he made a modest profit by shorting railroad stocks in the panic of 1857.He had made a modest and profitable investment. He then went long in several railroads, shortly after the panic and his timing prooved to be extremely accurate.
In 1867 Daniel Drew, treasurer and longtime director of the Erie Railroad,
added Gould and James Fisk to the Erie board of directors. When Cornelius
Vanderbilt, of the New York Central, sought to buy control of the Erie a
spectacular battle ensued. Gould, Fisk, and Drew promptly issued thousands
of shares of new, watered stock. The “poison pill” of the time, although Gould may hav been as Erie as the canal, he did revolutionize financial tactics. When the angry Vanderbilt obtained an arrest warrant for the three, they ferried company headquarters to Jersey City, and Gould rushed to Albany where a pliable New York legislature authorized the stock issue. Eventually peace was made with Vanderbilt, but that gentleman was reported to have muttered that his trouble with the Erie “has learned me it never pays to kick a skunk.” Later in the fall of 1869 Gould and Fisk conspired with the brother-in-law of President Ulysses S. Grant to corner the gold market, causing the panic of “Black Friday,” September 24, 1869, and a tremendous margin call for Gould. He was even reported as telling his partners to buy as he was selling tremendous volumes of gold. After the crash his partners were left with nothing as Gould went long the market at the lowest levels.
Gould continued to loot the Erie until his departure in 1872. His role in the Erie War and the attempted gold corner gave him a reputation as the prime financial predator of the age.
Possessing a fortune, Gould turned to western railroads. In the
twenty years after 1872 he was a director of seventeen major lines
and the president of five. He purchased much Union Pacific stock and
controlled that road until 1878. At first Gould improved the management
of the Union Pacific but later blackmailed the company by threatening
to have the Gould-controlled Kansas Pacific build a nuisance line to Utah.
During the 1880s Gould controlled about half the mileage southwest of St. Louis and Kansas City and tried unsuccessfully to expand his western holdings into a transcontinental rail empire to the Atlantic Coast. He also owned the New York World for a time and held major investments in New York City’s elevated railways and several
large telegraph companies, including Western Union.
Gould was a man of many faults and virtues. He was cold and
unscrupulous but courteous and unassuming, and in his private
life, devoted to his family, flowers, and books.
He could not be trusted but nonetheless helped build more efficient regional rail systems. He was a wrecker of values but a railway leader who helped achieve major rate reductions. Gould remains the prototype robber baron of the late nineteenth century, although his defects probably have been exaggerated because he was never comfortable with the press.
Другие работы по теме:
Avarice In America Essay Research Paper Avarice
Avarice In America Essay, Research Paper Avarice In America When the topic of American economics arises, the infamous Robber Barons of the 19th Century often springs to mind. They are often glorified as “Captains of Industry” for their money making strategies and enterprising methods. Those who hold this view probably do not know the evils of the laissez-faire capitalism in which the Robber Barons believed and participated.
Romeo An Juliet Essay Research Paper hi
Romeo An Juliet Essay, Research Paper hi i need an essay about a character in romeo and juliet that demonsrtated maturity. in a well developed multi pagraph essay and say why you think the character’s maturity was greater than the other characters in the play.
Mythology Essay Research Paper Greek MythologyMythology is
Mythology Essay, Research Paper Greek Mythology Mythology is a way that the ancient societies explained why things are the way they are and how they came to being. Two ancient societies are infamous for their mythology. These societies are Greece and Rome. Great authors were made be the mythological works they wrote.
Memories Essay Research Paper If you ask
Memories Essay, Research Paper If you ask any person you know the simple question, What is the fondest memory of childhood you have? it s guaranteed every person will stop to think. Each and every one of us all have special memories from our past, no matter how trivial; that s because memories are a large part of everyone character.
Oh Really Essay Research Paper Oh Reallyyou
Oh Really? Essay, Research Paper Oh Really, you think i am a lark, the dogs they run and bark, but when i say to them, shut up shut up shut up, you say to be nice to them,
Mercutio Essay Research Paper Mercutio was a
Mercutio Essay, Research Paper Mercutio was a very strong and important character in William Shakespeare’s Romeo and Juliet. Mercutio had two main roles. He was not only the Prince’s kinsman, but also Romeo’s best friend and companion. His infamous lines and eccentric speeches live on in the hearts of all Shakespeare fans.
British Constitution Essay Research Paper Amendment IIRight
British Constitution Essay, Research Paper Amendment II [Right of people to bear arms not to be infringed.] A well regulated militia, being necessary to the security of a free State, the right of the people to keep and bear arms, shall not be infringed.
Treasure Isand Essay Research Paper Robert Louis
Treasure Isand Essay, Research Paper Robert Louis StevensonA thriller… Treasure Island is guaranteed to keep you on the edge of yourseat. When I read it I sat down and read it for hours. I could barley put itdown. All 296 pages are filled with suspense, action, and power. The authormakes you feel like your right there on Treasure Island with Jim Hawkins,Mr.
Shane Essay Research Paper Sometimes I need
Shane Essay, Research Paper Sometimes, I need you more than I need air And sometimes I miss you more than I will forever, never forget the times that we have shaared. The are priceless
New York Philharmonic Essay Research Paper On
New York Philharmonic Essay, Research Paper On the evening of October 17, 2000 I, along with hundreds of people, gathered in the Avery Fisher Hall at Lincoln Center to watch the infamous New York Philharmonic. The concert was scheduled to start at 7:30pm. People gathered to their assigned seats around 7pm.
Sara Teasdale Essay Research Paper Sara Teasdale
Sara Teasdale Essay, Research Paper Sara Teasdale Poetry provides and gives a sense of mystery and marvel of life. Poetry has been dated back to the Renaissance Age where humanism was observed. The twentieth century also provides the world with great poets who speak about life and nature. An interesting but truthful poet, Sara Teasdale, spoke about life through simplicity.
Media In The 90
′S: The Struggle Between Pop An Hig Essay, Research Paper Power StruggleMedia in the nineties is creating a great power struggle between high and pop culture. Movies and television have such a great influence on today’s society, that many people are turning away from high culture and towards pop culture as a way of gaining knowledge, as well as entertainment.
Treasure Island Essay Research Paper The highly
Treasure Island Essay, Research Paper The highly acclaimed children’s classic Treasure Island by Robert Louis Stevenson is a thrilling book that keeps the reader involved from the beginning to the end. Jim Hawkins, who is the main character and narrator, is a young lad who works with his mother at an inn called the ‘Admiral Benbow’.
Unabomber Essay Research Paper In Michael Ventura
Unabomber Essay, Research Paper In Michael Ventura’s essay, “The Ties That Bind”, he explains the dilemma in which David Kaczynski (brother of Ted Kaczynski, the infamous Unabomber) faces. He can either: 1) betray his brother turning him in, 2) do nothing and let society down. Either way he is left feeling extreme guilt.
Significance Of Themes Essay Research Paper Significance
Significance Of Themes Essay, Research Paper Significance of Themes 1. God One of the main theme’s that is displayed throughout Waiting For Godot is the idea that life on earth is more or less a long and confusing wait for God. This theme magnifies the idea that the infamous Godot is actually God and that the play is built upon a structure of Christian morals.
Kelvin Essay Research Paper Thomsons view on
Kelvin Essay, Research Paper ?Thomson?s view on the recent age of the world have been for some time one of my sorest troubles, (pg. 107)? This quote is used to collaborate the author?s idea that Darwin was deeply opposed to Kelvin?s calculations about the ago of the earth. The author further backs up this idea by using another quote in which Darwin calls Kelvin an ?odious spectre, (pg. 107).? It is then stated that Darwin did eventually compromise with Kelvin?s calculations.
Poem She Sat Essay Research Paper She
Poem: She Sat Essay, Research Paper She sat… helpless in her room praying to whatever god there may be to let her call to him. could god ignore such a painful cry?
Grant Scandals Essay Research Paper Black friday
Grant Scandals Essay, Research Paper Black friday Scandal 1869 Early in Grant’s first term, two gold speculators Jay Gould and James Fisk hoped to buy gold at $130 per ounce and sell it at $160 per ounce. They tried o corner the gold market. They went to Grant, who had no understanding of monetary issues, and convinced him to tell Treasury Secretary George Boutwell to stop selling gold.
Spanish Inquisition Essay Research Paper Over the
Spanish Inquisition Essay, Research Paper Over the years in history, there have been many formidable executions that were caused by the aspect of different faiths and races. Period after period there have been many leaders who lashed out onto others because of what they believed in. All of these incidents have never been forgotten; one very infamous one would be the Spanish Inquisition.
Movie Glory Essay Research Paper GLORYThe movie
Movie ?Glory? Essay, Research Paper GLORY The movie ?Glory? tells the history and the story of the 54th Massachusetts Infantry. It became the first black regiment to fight for the North in the Civil War. The Regiment was made up of black soldiers ? some were Northern freemen, some were escaped slaves. The leader was General Robert Gould Shaw, the son of Boston abolitionists.
Joseph Stalin The Most Infamous Leader Essay
, Research Paper In 1879 on Dec 21 Joseph Stalin was born he ended up dying in 1953 on March 5th. That was only the begging. He grew up and had become one of the undisputed leaders of the USSR from 1929 till his death.
Womens Brains Essay Research Paper English 104Essay
Womens Brains Essay, Research Paper English 104 Essay This is a brief summary of the essay “Women’s Brains” by Stephen Jay Gould, published in The Panda’s Thumb in 1980. Gould feals that the study of this is irrelevant to the field that they are studying and that the experiments should not have been conducted.
Adventures In Evolution Essay Research Paper Adventures
Adventures In Evolution Essay, Research Paper Adventures in evolution The Structure of Evolutionary Theory Stephen Jay Gould 1,464 pages, Harvard I Have Landed: Splashes and Reflections in Natural History Stephen Jay Gould 401pp, Cape There are many reasons to regret the death of Stephen Jay Gould; one of the weightiest is that he never had time to finish his last book at its proper length.
Ode To Boys Essay Research Paper We
Ode To Boys Essay, Research Paper We like them But do they like us The ones we do never fuss They don’t stop in And we wonder why We stress, we bitch We sometimes cry
Observer Review I Have Landed By Stephen
Jay Gould Essay, Research Paper A grand finaleI Have LandedStephen Jay GouldJonathan Cape ?17.99, pp418It is ironic that the great evolutionary biologist Stephen Jay Gould – who wrote so majestically and informatively about life in all its rich, biological intricacy – has produced a valedictory work so redolent of death.Apart from the author’s own demise last week, I Have Landed is striking for its unexpected images of loss and grieving, notably those concerned with the destruction of the World Trade Centre.
Sugar Cane Plantations Essay Research Paper Sugar
Sugar Cane Plantations Essay, Research Paper Sugar Cane Plantations In 1913 my Great Grandfather Man Kum Paik immigrated to Hawaii to work in the infamous sugar cane plantations. He first arrived in Koloa, Kauai. My Great Grandmother came over two years later. They moved to the Big Island where my Great Grandfather worked in the Plantation fields in the Paala plant.
Robber Barons Essay Research Paper Robber BaronsDuring
Robber Barons Essay, Research Paper Robber Barons During the nineteenth century there were many people who contributed to America s growth. Most of these people were either considered robber barons or captains of industry.
XXX Essay Research Paper XXXAmerica today
XXX Essay, Research Paper America today. Ponder with me that phrase for a second. 14 year olds having sex; Violence on Television; Sexual perversion; Suicide; AIDS. It simply saddens the heart. Our society is lost. Wondering pointlessly in a maze of empty sorrow. Fathers abandon their families because they suddenly decide they are gay, or some *censored* like that.
FROM THE EARTH TO THE MOON AND
AROUND THE MOON Essay, Research Paper FROM THE EARTH TO THE MOON AND AROUND THE MOON BY: JULES VERNE From the earth to the moon and around the moon by Jules Verne, a book about how he foresaw man reaching the moon. Through the infamous Gun Club which was nothing more than a group of disfigured and excitable old war veterans.
Louis Xvi Essay Research Paper Bertrand
Louis Xvi Essay, Research Paper Bertrand, Louis, LouisXVI , New York: Longmans, Green and Co, 1928, 355pp. The reign of Louis XVI as described in this wonderful pice of literature, is glorified as being one of the few great ages in the history of western man. During his rule, the French culture achieved a perfection that was formerly unknown.