Jay Gould (1836-1892)

The Beginning Jay Gould was born on May 27th 1836 in

Roxbury, New York

Gould devoted his time to private study, emphasizing in mathematics and surveying

He worked multiple jobs such as bookkeeping for a blacksmith, helping his father at his hardware business and engaging in the lumber and tanning business along with his partner Zadock Pratt

He moved to New York City in the 1850’s and learned the ways of Wall Street

In 1859, Gould speculated in the stocks of small railroads

Railroad System

In the late 1800’s, he began to invest in railroads. One of his first projects was the short Rutland and Washington

In 1867, James Fisk and Gould became the directors of the Erie Railroad By 1873, he extended the railroad lines to Chicago, Illinois Purchased New York World newspaper in 1879 Controlled the great Union Pacific railroad in 1874 In 1880 he was in virtual control of 10,000 miles of railway, about one-

ninth of the railway mileage of the United States at that time Obtained a controlling interest in the Western Union Telegraph Company,

and the elevated railways in New York City in 1881 He began building a new railway system, centered on the Missouri

Pacific Railroad, that constituted one-half of all trackage in the Southwest by 1890

Competition Jay Gould’s main competition were Daniel

Drew, James Fisk, and Cornelius Vanderbilt Gould sent these three men into

bankruptcy, and became notorious in the Erie Railroad’s stock

Achievements Gould was an empire builder who sought to create

railroad and communication systems capable of meeting the needs of an expanding nation.

Monopolized the Railroad System He operated New York City's elevated railroad and

led Western Union to victory in its battle for control of the telegraph industry

His railways were ultimately connected to many of the largest railway financial operations in the United States for twenty years

Death

Jay Gould left a fortune estimated at $77 million Gould donated a small portion of his money to the

Vanderbilt Union Navy He willed majority of his fortune to his children Gould died of tuberculosis on December 2nd, 1892

Authors Alina Apelian Chris BarbechoMiguel …Byron Allen