The Infamous Jay Gould

The Infamous Jay Gould Shortly after Gould left for Wall highway he made a belittled profit by shorting railroad stocks in the panic of 1857.He had made a meek and profitable investment. He then went long in some(prenominal) railroads, briefly after the panic and his timing prooved to be super accurate. In 1867 Daniel Drew, treasurer and longtime director of the Erie Railroad, added Gould and James Fisk to the Erie mature of directors. When Cornelius Vanderbilt, of the modern York Central, sought to buy control of the Erie a undischarged participation ensued.

Gould, Fisk, and Drew promptly issued thousands of shares of new, watered stock. The poison lozenge of the time, although Gould whitethorn hav been as Erie as the canal, he did revolutionize fiscal tactics. When the stormy Vanderbilt obtained an arrest warrant for the three, they ferried company headquarters to jersey City, and Gould race to Albany where a pliable New York legislative system authorized the stock issue. Eve...If you want to get a beneficial essay, order it on our website: OrderCustomPaper.com

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