Page:The Wizard of Wall Street and his Wealth.djvu/167

 The Gould purchase of the Missouri Pacific railway has a refreshing novelty in it on account of the manner in which it was bought. The road was owned in 1880 by Commodore Garrison, who was not friendly to Mr. Gould. The latter sent Russell Sage to find out how much the commodore would take for his interest in the Missouri Pacific. The commodore said that $2,000,000 would be about right. Sage offered $1,500,000 and Garrison shook his head brusquely. The next day Sage returned and offered to close the bargain at $2,000,000. "No," said the commodore, "the price has advanced to $2,800,000."

"Pooh, pooh!" said Sage, and he went back and reported to Mr. Gould. The next day Gould went himself and told Garrison that he would take his stock at $2,800,000. The commodore replied that the stock had advanced in price to $3,800,000, and it would continue to go up $1,000,000. a day. Gould closed the bargain on the spot, giving Garrison his check for $3,800,000. The Missouri Pacific stock subsequently became very much depressed in the stock market, and a great many weak stockholders were obliged to let go. Gould was always ready to buy. After a while he consolidated the Missouri Pacific with the Iron Mountain and the International and Great Northern, and Missouri Pacific stock went up rapidly. The Iron Mountain was a first-class money-earning road. This consolidation gave Mr. Gould a southwestern railroad system of more than 5,000 miles, which he subsequently extended largely.

Gould's testimony in regard to this portion of