Jay Gould Twice Signed Important Railway Document
Document Signed, Jay Gould, as president of The Texas and Pacific Railway Company, 38 pp., 9 x 12, August 1, 1884. Bound by teal green ribbon, intact embossed paper seals, toning, minor creasing, and a small chip to corner of cover page, else Fine condition.
This Indenture, a General Mortgage and Terminal Bonds, between The Texas and Pacific Railway Company, The New Orleans Pacific Railway Company, and the Fidelity Insurance, Trust and Safe Deposit Company is additionally signed by officers of the companies, and is witnessed by several notaries.
Jason Gould (1836-1892) was an American railroad executive, financier, and speculator. Gould was educated in local schools and first worked as a surveyor in New York State. By 1859, he had begun speculating in the securities of small railways. He continued to deal in railroad stocks in New York City during the Civil War, and in 1863 he became manager of the Rensselaer and Saratoga Railway. In 1867, he became a director of the Erie Railroad. One year later, he joined Daniel Drew and James Fisk in a struggle to keep Cornelius Vanderbilt from wresting away their control of this railroad. To this end, Gould engaged in outrageous financial manipulations, ended up in control of the railroad, and he and Fisk then joined forces with William Boss Tweed and Peter Sweeney to profit from further unscrupulous speculations using Erie stock. Their attempt to corner the market in loose gold caused the panic of Black Friday on September 24, 1869. Jay Gould was known as one of the most unscrupulous robber barons of 19th-century American capitalism.
Texas and Pacific Railway Company (known as the T&P) was created by federal charter in 1871 with the purpose of building a southern transcontinental railroad between Marshall, Texas and San Diego, California. The T&P had a significant foothold in Texas by the mid-1880s. Construction difficulties delayed westward progress, until American financier Jay Gould acquired an interest in the railroad in 1879. The T&P never reached San Diego; it met the Southern Pacific at Sierra Blanca, Texas, in 1881.
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