Democratic Sentinel, Volume 13, Number 2, Rensselaer, Jasper County, 1 February 1889 — Jay Gould’s Tricks. [ARTICLE]

Jay Gould’s Tricks.

Jay Gould at one time owned half the capital stock of the Western Union Telegraph Company. Until a short time ago he had about $30,000,000. It is stated that he has about half that amount at present. The way he came to decrease his holding was characteristic. , In the operation the “street” generally “landed” on a rise which stopped and became a decline before the figure that the points were for was reached. As those who were caught tell it, a pool in Western Union was formed, it is variously stated, of from 75,000 to 125,000 shares. Gould was to take onefifth of the stock in the pool. The stock was down at fifty-three when the first buying began. The point was that the stock was to go to sixty-five. The shorts began to cover and the “street” began to buy around sixty for a profit on the long side. Gould sold, through brokers, to both the pool an-1 the The pool did not know that it was getting Gould stock, but supposed that Gould was holding in, and that the clique was taking the “street” stock and v ould soon make it scarce.

The stock reached 63|, and before anybody could say Jack Bobinson it ■was back to 59, and everybody was landed—except Gould. He had got rid of a lot of stock at better prices than the market vo dd have afforded in any other way, and he could, if he wanted to, buy back at a lower figure. This is one of Gould’s tricks. He will fake an interest in a pool which is formed to buy loose lots in the “street” and thus make the stock scarce, and will secretly sell to the pool from his own holdings. He can do this without detection, for the reason that as explained, the most of the stock is in other people’s names.—Mr. Grundy.

Levotchko, a Russian peasant, has, after ten years’ work, discovered a treasure upon land that formed a part of the estate of Prince Ostcrsky, whose ancestors were plundered and driven from their homes by the Tartars a long time ago. The discovery includes manuscripts and other articles of value besides the gold. The peasant gets one-third and the Czar the rest of it.