Category: Biographies
Results of the Panic of 1857.—Creating a Revolution in 5 the Methods of Doing Business in Wall Street.—The Old “Fogies” of the Street, and How They were Surprised.—Their Prejudices and How they Originated.—The Struggle of the Young Bloods for Membership.—The Youthful Element i...
Results of the Panic of 1857.—Creating a Revolution in 5 the Methods of Doing Business in Wall Street.—The Old “Fogies” of the Street, and How They were Surprised.—Their Prejudi...
2. CHAPTER II.Clerical Obliquity of Judgment About Wall Street 13 Affairs.—The Slanderous Eloquence of Talmage.—Wall Street a Great Distributor, as Exhibited in the Clearing House Transaction...
3. CHAPTER III.How to Take Advantage of Periodical Panics in Order to 19 Make Money.—Wholesome Advice to Young Speculators.—Alleged “Points” from Big Speculators End in Loss or Disaster.—Profe...
4. CHAPTER IV.Sons of Independent Gentlemen make very bad 25 Clerks.—They become Unpopular with the Other Boys, and must Eventually Go.—Night Dancing and Late Suppers don’t Contribute to Busi...
5. CHAPTER V.Breach of Trust Rare Among Wall Street Men.—The English 33 Clergyman’s Notion of Talmage’s Tirades Against Wall Street.—Adventurous Thieves Have No Sympathizers Among Wall Stree...
6. CHAPTER VI.The Financiers of Wall Street Assist the Government in 39 the Hour of the Country’s Peril.—The Issue of the Treasury Notes.—Jay Cooke’s Northern Pacific Scheme Precipitates the...
7. CHAPTER VII.How Napoleon Defied the Monroe Doctrine.—The Banquet to 45 Romero.—Speeches by Eminent Financiers, Jurists and Business Men.—The Eloquent Address of Romero Against French Interv...
8. CHAPTER VIII.How the Imperial Pirates of France and England Were 59 Frightened Off Through the Diplomacy of Seward.—Ominous Appearance of the Russian Fleet in American Waters.—Napoleon Aims...
9. CHAPTER IX.The Depleted Condition of the Treasury when Mr. Chase 73 took Office.—Preparations for War and Great Excitement in Washington.—Chivalrous Southerners in a Ferment.—Officials Up...
10. CHAPTER X.Secretary Chase Considers the Problem of Providing a 81 National Currency.—How E. G. Spaulding takes a Prominent Part in the Discussion of the Bank Act.—The Act Founded on the B...
11. CHAPTER XI.History of the Organization for Ninety-four Years.—From 87 a Button-Wood Tree to a Palace Costing Millions of Dollars.—Enormous Growth and Development of the Business.—How the P...
12. CHAPTER XII.The Senate Committee on “Corners” and 95 “Futures.”—Speculation Beneficial to the Country at Large.—A Regulator of Values, and an Important Agent in the Prevention of Panics.-“C...
13. CHAPTER XIII.The Great Hudson “Corner.”—Commodore Vanderbilt the 107 “Boss” of the Situation.—The “Corner” Forced upon Him.—How he Managed the Trick of getting the Bears to “Turn” the Stock,...
14. CHAPTER XIV.Drew, like Vanderbilt, an Example of Great Success 117 without Education.—Controlled more Ready Cash than any man in America.—Drew goes Down as Gould Rises.-“His Touch is Death....
15. CHAPTER XV.Vanderbilt Essays to Swallow Erie, and Has a Narrow 127 Escape from Choking.—He Tries to make Drew Commit Financial Suicide.—Manipulating the Stock Market and the Law Courts at...
16. CHAPTER XVI.A Harmonious Understanding with the Commodore.—How the 137 Compromise was Effected.—An Interesting Interview with Fisk and Gould in the Commodore’s Bed-Room.—How Richard Schell...
17. CHAPTER XVII.Incidents in the Early Life of Drew; and How he Began 147 to Make Money.—He Borrows Money from Henry Astor, Buys Cattle in Ohio and Drives them over the Alleghany Mountains unde...
18. CHAPTER XVIII.Not Accidental Freaks of the Market.—We are Still a 157 Nation of Pioneers.—The Question of Panics Peculiarly American.—Violent Oscillations in Trade Owing to the Great Mass of...
19. CHAPTER XIX.The Panic of 1837.—How it was Brought About.—The State 175 Banks.—How they Expanded their Loans under Government Patronage.—Speculation was Stimulated and Values Became Inflated...
20. CHAPTER XX.The Great Black Friday Scheme originates in patriotic 181 motives. Advising Boutwell and Grant to sell Gold.—The part Jim Fisk played in the Speculative Drama.-“Gone where the W...
21. CHAPTER XXI.Inadequate Information.—False Information.—Defects of 201 News Agencies.—Insufficiency of Margins.—Dangers of Personal Idiosyncrasies.—Operating in Season and out of Season.—Nec...
22. CHAPTER XXII.Return of the Renowned Speculator to Wall 209 Street.—Recalling the Famous “Blind” Pool in Northern Pacific.—How Villard Captured Northern Pacific.—Pursuing the Tactics of Old V...
23. CHAPTER XXIII.Peculiar Power and Methods of the Prince of 215 Swindlers.—How he Duped Astute Financiers and Business Men of all Sorts, and Secured the Support of Eminent Statesmen and Leading...
24. CHAPTER XXIV.How Mr. Smith Started in Life and became a Successful 223 Operator.—His connection with the Tweed “Ring,” and how he and the Famous “Boss” made Lucky Speculations, through the u...
25. CHAPTER XXV.He Starts in Speculation as a “Curbstone” Broker.—A 229 Lucky Hit in a Mining Stock Puts Him on the Road to be a Millionaire.—His Speculative Encounter with the Bonanza Kings.—H...
26. CHAPTER XXVI.27. CHAPTER XXVII.How a Sovereign Southern State Cheated the Northern Men 255 who Helped Her in Distress.—A New Way to Pay Old Debts.—Cancellation by Repudiation of Just Claims for Cash Loaned to...
28. CHAPTER XXVIII.“Swinging Around the Circle.”—How Mr. Johnson Came to 289 Visit New York on His Remarkable Tour.—The Grand Reception at Delmonico’s.—The President Loses His Temper at Albany and...
29. CHAPTER XXIX.How the War Democrat, General Dix, was Elected Governor 297 by the Republican Party.—The Candidates of Senator Conkling Rejected.—How Dix was Sprung on the Convention, to the Co...
30. CHAPTER XXX.A Chapter of Secret History.—Conkling gets the Credit 307 for Dix’s Nomination and His “Silence Gives Consent” to the Honor.—Robertson Regards Him as a Marplot.—The Senator Inno...
31. CHAPTER XXXI.The Best Man for the Position and Most Deserving of the 313 Honor.—How the “Boom” was Worked up in Favor of Grant.—The Great Financiers and Speculators all Come to the Front in...
32. CHAPTER XXXII.The Ring Makes Itself Useful in Speculative Deals.—How 327 Tweed and His “Heelers” Manipulated the Money Market.—The Ring Conspiring to Organize a Panic for Political Purposes.—...
33. CHAPTER XXXIII.How Tilden began to make His Fortune in Connection with 337 William H. Havemeyer.—Tilden’s great Fort in Politics.—He Improves His Opportunity with the Discernment of Genius.—Ho...
34. CHAPTER XXXIV.Ferryman.—Steamboat Owner.—Runs a Great Commercial 345 Fleet.—The First and Greatest of Railroad Kings.—The Harlem “Corner.”—Reorganization of N. Y. Central.—How He Milked the S...
35. CHAPTER XXXV.A Builder instead of a Destroyer of Public Values.—His 355 Respect for Public Opinion on the Subject of Monopolies.—His first Experience in Railroad Management.—How he Improved...
36. CHAPTER XXXVI.The Eccentricities of Cornelius Jeremiah Vanderbilt, 375 and his Marvellous Power for Borrowing Money.—He Exercises Wonderful Influence over Greeley and Colfax.—A Dinner at the...
37. CHAPTER XXXVII.Remarkable for Physical and Intellectual Ability.—The 387 Mixture of Races and the Law of Selection.—The Wonderful Will and the Wise Distribution of Two Hundred Millions.—Tastes...
38. CHAPTER XXXVIII.The Beginning of the Financial Career of the Great 397 House of Rothschild.—The Hessian Blood Money was the Great Foundation of their Fortune.—How the Firm of the Five Original...
39. CHAPTER XXXIX.The Unique Character of Travers.—His Versatile 407 Attainments.—Although of a Genial and Humorous Disposition, He was Always a Bear.—How He was the Means of Preserving the Comme...
40. CHAPTER XL.The Career of Charles F. Woerishoffer and the Resultant 425 Effect upon Succeeding Generations.—The Peculiar Power of the Great Leader of the Bear Element in Wall Street.—His Me...
41. CHAPTER XLI.42. CHAPTER XLII.Eastward the Star of Wealth and the Tide of Beauty Take 447 their Course.—Influence of the Fair Sex on this Tendency, and Why.—New York the Great Magnet of the Country.—Swinging...
43. CHAPTER XLIII.Vastness of our Railroad System.—Its Cost.—Fall in the 475 Rate of Interest.—Tendency to a Four Per Cent. Rate on Railroad Bonds.—Effect of the Change on Stocks.—Prospective Spe...
44. CHAPTER XLIV.45. CHAPTER XLV.Harmony Between the Representatives of Capital and 491 Labor Necessary for Business Prosperity.—If Manufacturers should Combine to Regulate Wages the Arrangement could only be T...
46. CHAPTER XLVI.47. CHAPTER XLVII.Great as an Achievement of Art, but Greater as the 525 Embodiment of the Idea of Universal Freedom the World Over.—It is a Poetic Idea of a Universal Republic.—Enlightenment of...
48. CHAPTER XLVIII.How the Fortunes of the Astors were Made.—George 529 Peabody and His Philanthropic Schemes.—Johns Hopkins and his Peculiarities.—A. T. Stewart and his Abortive Plans.—A Sculptor...
49. CHAPTER XLIX.The Preservation of the Union a Great Blessing.—To Let 541 them “Secesh” would have been National Suicide.—How Immigration has Assisted National Prosperity.—Rescued from the Dyn...
50. CHAPTER L.Alfred Sully, his Origin and Successful Career.—Calvin 553 S. Brice, a Financier of Ability.—General Samuel Thomas, Prominent in the Southern Railroad System.—General Thomas M....
51. CHAPTER LI.How the System of Settling Disputes and 561 Misunderstandings by Arbitration has Worked in the Stock Exchange.—Why not Extend the System to Business Matters Generally?—Its Great...
52. CHAPTER LII.53. CHAPTER LIII.The Shock of Every Calamity Felt in Wall 589 Street.—Earthquakes the only Disasters which seem to Defy the Power of Precaution.—Becoming a Subject of Serious Thought for Wall St...
54. CHAPTER LIV.The American Representative of the Rothschilds.—Begins 595 Life in the Rothschilds’ House in Frankfort.—Consul General to Austria and Minister to the Hague.—A Great Financier an...
55. CHAPTER LV.Increase of Population and the Growing Pressure upon 599 the Means of Subsistence.—Education and Moral Improvement the True Remedy for Existing or Threatened Evils.—Errors of Co...
56. CHAPTER LVI.How Wall Street Bankers’ Nerves are Tried.—Fine Humor, 603 Jocular Dispositions, and Scholarly Taste of Operators.—George Gould as a Future Financial Power.—American Nobility Co...
57. CHAPTER LVII.What We Are.—What We are Preparing For.—What We are 611 Destined to Do and to Become.—We are Entering on an Era of Seeming Impossibilities.—Yet the Inconceivable Will be Realized
58. CHAPTER LVIII.His Birth and Early Education.—Clerk in a Country 619 Store.—He Invents a Mouse Trap.—Becomes a Civil Engineer and Surveys Delaware County.—Writes a Book and Sells it.—Gets a Pa...
59. CHAPTER LIX.Cyrus W. Field.—Russell Sage.—Addison Cammack.—The 659 Jerome Brothers.—Moses Taylor.—Chauncey M. Depew.—Austin Corbin.—Anthony J. Drexel.—John A. Stewart.—Hon. Levi P. Morton.—...
60. CHAPTER LXX.61. CHAPTER LXXIII.62. CHAPTER LXXIX.63. CHAPTER LXXX.64. CHAPTER LXXXI.65. CHAPTER LXXXIV.66. CHAPTER LXXXIX.I have attempted, in the following pages, to relate in a simple and comprehensive manner, without any aim at elaboration, the leading features of the most prominent events that...
67. CHAPTER I.MY advent in Wall Street was on the heels of the panic of 1857. That panic was known as the “Western blizzard.” It was entitled to the name, as its destructive power and chillin...
68. CHAPTER II.CLERICAL OBLIQUITY OF JUDGMENT ABOUT WALL STREET AFFAIRS.—THE SLANDEROUS ELOQUENCE OF TALMAGE.—WALL STREET A GREAT DISTRIBUTOR, AS EXHIBITED IN THE CLEARING HOUSE TRANSACTIONS.—...
69. CHAPTER III.HOW TO TAKE ADVANTAGE OF PERIODICAL PANICS IN ORDER TO MAKE MONEY.—WHOLESOME ADVICE TO YOUNG SPECULATORS.—ALLEGED “POINTS” FROM BIG SPECULATORS END IN LOSS OR DISASTER.—PROFESSI...
70. CHAPTER IV.SONS OF INDEPENDENT GENTLEMEN MAKE VERY BAD CLERKS.—THEY BECOME UNPOPULAR WITH THE OTHER BOYS, AND MUST EVENTUALLY GO.—NIGHT DANCING AND LATE SUPPERS DON’T CONTRIBUTE TO BUSINES...
71. CHAPTER V.BREACH OF TRUST RARE AMONG WALL STREET MEN.—THE ENGLISH CLERGYMAN’S NOTION OF TALMAGE’S TIRADES AGAINST WALL STREET.—ADVENTUROUS THIEVES HAVE NO SYMPATHIZERS AMONG WALL STREET O...
72. CHAPTER VI.THE FINANCIERS OF WALL STREET ASSIST THE GOVERNMENT IN THE HOUR OF THE COUNTRY’S PERIL.—THE ISSUE OF THE TREASURY NOTES.—JAY COOKE’S NORTHERN PACIFIC SCHEME PRECIPITATES THE PAN...
73. CHAPTER VII.HOW NAPOLEON DEFIED THE MONROE DOCTRINE.—THE BANQUET TO ROMERO.—SPEECHES BY EMINENT FINANCIERS, JURISTS AND BUSINESS MEN.—THE ELOQUENT ADDRESS OF ROMERO AGAINST FRENCH INTERVENT...
74. CHAPTER VIIIHOW THE IMPERIAL PIRATES OF FRANCE AND ENGLAND WERE FRIGHTENED OFF THROUGH THE DIPLOMACY OF SEWARD.—OMINOUS APPEARANCE OF THE RUSSIAN FLEET IN AMERICAN WATERS.—NAPOLEON AIMS AT...
75. CHAPTER IX.THE DEPLETED CONDITION OF THE TREASURY WHEN MR. CHASE TOOK OFFICE.—PREPARATIONS FOR WAR AND GREAT EXCITEMENT IN WASHINGTON.—CHIVALROUS SOUTHERNERS IN A FERMENT.—OFFICIALS UP IN...
76. CHAPTER X.SECRETARY CHASE CONSIDERS THE PROBLEM OF PROVIDING A NATIONAL CURRENCY.—HOW E. G. SPAULDING TAKES A PROMINENT PART IN THE DISCUSSION ON THE BANK ACT.—THE ACT FOUNDED ON THE BANK...
77. CHAPTER XI.HISTORY OF THE ORGANIZATION FOR NINETY-FOUR YEARS.—FROM A BUTTON-WOOD TREE TO A PALACE COSTING MILLIONS OF DOLLARS.—ENORMOUS GROWTH AND DEVELOPMENT OF THE BUSINESS.—HOW THE PRES...
78. CHAPTER XII.THE SENATE COMMITTEE ON “CORNERS” AND “FUTURES.”—SPECULATION BENEFICIAL TO THE COUNTRY AT LARGE.—A REGULATION OF VALUES, AND AN IMPORTANT AGENT IN THE PREVENTION OF PANICS.-“COR...
79. CHAPTER XIII.THE GREAT HUDSON “CORNER.”—COMMODORE VANDERBILT THE “BOSS” OF THE SITUATION.—THE “CORNER” FORCED UPON HIM.—HOW HE MANAGED THE TRICK OF GETTING THE BEARS TO “TURN” THE STOCK, AND...
80. CHAPTER XIV.DREW, LIKE VANDERBILT, AN EXAMPLE OF GREAT SUCCESS WITHOUT EDUCATION.—CONTROLLED MORE READY CASH THAN ANY MAN IN AMERICA.—DREW GOES DOWN AS GOULD RISES.-“HIS TOUCH IS DEATH.”—PR...
81. CHAPTER XV.VANDERBILT ESSAYS TO SWALLOW ERIE, AND HAS A NARROW ESCAPE FROM CHOKING.—HE TRIES TO MAKE DREW COMMIT FINANCIAL SUICIDE.—MANIPULATING THE STOCK MARKET AND THE LAW COURTS AT THE...
82. CHAPTER XVI.A HARMONIOUS UNDERSTANDING WITH THE COMMODORE.—HOW THE COMPROMISE WAS EFFECTED.—AN INTERESTING INTERVIEW WITH FISK AND GOULD IN THE COMMODORE’S BED-ROOM.—HOW RICHARD SCHELL RAIS...
83. CHAPTER XVII.INCIDENTS IN THE EARLY LIFE OF DREW, AND HOW HE BEGAN TO MAKE MONEY.—HE BORROWS MONEY FROM HENRY ASTOR, BUYS CATTLE IN OHIO AND DRIVES THEM OVER THE ALLEGHANY MOUNTAINS UNDER GR...
84. CHAPTER XVIII.NOT ACCIDENTAL FREAKS OF THE MARKET.—WE ARE STILL A NATION OF PIONEERS.—THE QUESTION OF PANICS PECULIARLY AMERICAN.—VIOLENT OSCILLATIONS IN TRADE OWING TO THE GREAT MASS OF NEW...
85. CHAPTER XIX.THE PANIC OF 1837.—HOW IT WAS BROUGHT ABOUT.—THE STATE BANKS.—HOW THEY EXPANDED THEIR LOANS UNDER GOVERNMENT PATRONAGE.—SPECULATION WAS STIMULATED AND VALUES BECAME INFLATED.—PR...
86. CHAPTER XX.THE GREAT BLACK FRIDAY SCHEME ORIGINATES IN PATRIOTIC MOTIVES.—ADVISING BOUTWELL AND GRANT TO SELL GOLD.—THE PART JIM FISK PLAYED IN THE SPECULATIVE DRAMA.-“GONE WHERE THE WOODB...
87. CHAPTER XXI.INADEQUATE INFORMATION.—FALSE INFORMATION.—DEFECTS OF NEWS AGENCIES.—INSUFFICIENCY OF MARGINS.—DANGERS OF PERSONAL IDIOSYNCRASIES.—OPERATING IN SEASON AND OUT OF SEASON.—NECESSI...
88. CHAPTER XXII.RETURN OF THE RENOWNED SPECULATOR TO WALL STREET.—RECALLING THE FAMOUS “BLIND” POOL IN NORTHERN PACIFIC.—HOW VILLARD CAPTURED NORTHERN PACIFIC.—PURSUING THE TACTICS OF OLD VANDE...
89. CHAPTER XXIII.PECULIAR POWER AND METHODS OF THE PRINCE OF SWINDLERS.—HOW HE DUPED ASTUTE FINANCIERS AND BUSINESS MEN OF ALL SORTS, AND SECURED THE SUPPORT OF EMINENT STATESMEN AND LEADING BAN...
90. CHAPTER XXIV.HOW MR. SMITH STARTED IN LIFE AND BECAME A SUCCESSFUL OPERATOR.—HIS CONNECTION WITH THE TWEED “RING,” AND HOW HE AND THE FAMOUS “BOSS” MADE LUCKY SPECULATIONS, THROUGH THE USE O...
91. CHAPTER XXV.HE STARTS IN SPECULATION AS A CALIFORNIA BROKER.—A LUCKY HIT IN A MINING STOCK PUTS HIM ON THE ROAD TO BE A MILLIONAIRE.—HIS SPECULATIVE ENCOUNTER WITH THE BONANZA KINGS.—HE MAK...
92. CHAPTER XXVI.The following chapter, on the subject of “Our Railroad Methods,” was delivered by me as a Fourth of July address at Mr. H. C. Bowen’s Annual Symposium at Woodstock, Conn., to an...
93. did. Usually, the bargain is that the construction companyundertakes to build the road for 80 to 100 per cent. of the face value of the first mortgage bonds, with an equal amount of stock, and sometimes also a certain amount of second...
94. CHAPTER XXVII.HOW A SOVEREIGN SOUTHERN STATE CHEATED THE NORTHERN MEN WHO HELPED HER IN DISTRESS.—A NEW WAY TO PAY OLD DEBTS.—CANCELLATION BY REPUDIATION OF JUST CLAIMS FOR CASH LOANED TO SUS...
95. CHAPTER XXVIII.“SWINGING AROUND THE CIRCLE.”—HOW MR. JOHNSON CAME TO VISIT NEW YORK ON HIS REMARKABLE TOUR.—THE GRAND RECEPTION AT DELMONICO’S.—THE PRESIDENT LOSES HIS TEMPER AT ALBANY AND BEC...
96. CHAPTER XXIX.HOW THE WAR DEMOCRAT, GENERAL DIX, WAS ELECTED GOVERNOR BY THE REPUBLICAN PARTY.—THE CANDIDATES OF SENATOR CONKLING REJECTED.—HOW DIX WAS SPRUNG ON THE CONVENTION, TO THE CONSTE...
97. CHAPTER XXX.A CHAPTER OF SECRET HISTORY.—CONKLING GETS THE CREDIT FOR DIX’S NOMINATION AND HIS “SILENCE GIVES CONSENT” TO THE HONOR.—ROBERTSON REGARDS HIM AS A MARPLOT.—THE SENATOR INNOCENT...
98. CHAPTER XXXI.THE BEST MAN FOR THE POSITION AND MOST DESERVING OF THE HONOR.—HOW THE “BOOM” WAS WORKED UP IN FAVOR OF GRANT.—THE GREAT FINANCIERS AND SPECULATORS ALL COME TO THE FRONT IN THE...
99. CHAPTER XXXII.THE RING MAKES ITSELF USEFUL IN SPECULATIVE DEALS.—HOW TWEED AND HIS “HEELERS” MANIPULATED THE MONEY MARKET.—THE RING CONSPIRES TO ORGANIZE A PANIC FOR POLITICAL PURPOSES.—THE P...
100. CHAPTER XXXIII.HOW TILDEN BEGAN TO MAKE HIS FORTUNE IN CONNECTION WITH WILLIAM H. HAVEMEYER.—TILDEN’S GREAT FORTE IN POLITICS.—HE IMPROVES HIS OPPORTUNITY WITH THE DISCERNMENT OF GENIUS.—HOW T...
101. CHAPTER XXXIV.FERRYMAN.—STEAMBOAT OWNER.—RUNS A GREAT COMMERCIAL FLEET.—THE FIRST AND GREATEST OF RAILROAD KINGS.—THE HARLEM “CORNER.”—REORGANIZATION OF N. Y. CENTRAL.—HOW HE MILKED HIS CO-SP...
102. CHAPTER XXXV.A BUILDER INSTEAD OF A DESTROYER OF PUBLIC VALUES.—HIS RESPECT FOR PUBLIC OPINION ON THE SUBJECT OF MONOPOLIES.—HIS FIRST EXPERIENCE IN RAILROAD MANAGEMENT.—HOW HE IMPROVED THE...
103. CHAPTER XXXVI.THE ECCENTRICITIES OF CORNELIUS JEREMIAH VANDERBILT, AND HIS MARVELLOUS POWER FOR BORROWING MONEY.—HE EXERCISES WONDERFUL INFLUENCE OVER GREELEY AND COLFAX.—A DINNER AT THE CLUB...
104. CHAPTER XXXVII.REMARKABLE FOR PHYSICAL AND INTELLECTUAL ABILITY.—THE MIXTURE OF RACES AND THE LAW OF SELECTION.—THE WONDERFUL WILL AND THE WISE DISTRIBUTION OF TWO HUNDRED MILLIONS.—TASTES, HA...
105. CHAPTER XXXVIII.THE BEGINNING OF THE FINANCIAL CAREER OF THE GREAT HOUSE OF ROTHSCHILD.—THE HESSIAN BLOOD MONEY WAS THE GREAT FOUNDATION OF THEIR FORTUNE.—HOW THE FIRM OF THE FIVE ORIGINAL BROT...
106. CHAPTER XXXIX.THE UNIQUE CHARACTER OF TRAVERS—HIS VERSATILE ATTAINMENTS—ALTHOUGH OF A GENIAL AND HUMOROUS DISPOSITION, HE HAS ALWAYS BEEN A BEAR—HOW HE WAS THE MEANS OF PRESERVING THE COMMERC...
107. CHAPTER XL.THE CAREER OF CHARLES F. WOERISHOFFER, AND THE RESULTANT EFFECT UPON SUCCEEDING GENERATIONS.—THE PECULIAR POWER OF THE GREAT LEADER OF THE BEAR ELEMENT IN WALL STREET.—HIS METHO...
108. CHAPTER XLI.As speculators, women hitherto have been utter failures. They do not thrive in the atmosphere of Wall Street, for they do not seem to have the mental qualities required to take...
109. CHAPTER XLII.EASTWARD THE STAR OF WEALTH AND THE TIDE OF BEAUTY TAKE THEIR COURSE.—INFLUENCE OF THE FAIR SEX ON THIS TENDENCY, AND WHY.—NEW YORK THE GREAT MAGNET OF THE COUNTRY.—SWINGING INT...
110. CHAPTER XLIII.VASTNESS OF OUR RAILROAD SYSTEM.—ITS COST.—FALL IN THE RATE OF INTEREST.—TENDENCY TO A FOUR PER CENT. RATE ON RAILROAD BONDS.—EFFECT OF THE CHANGE ON STOCKS.—PROSPECTIVE SPECULA...
111. CHAPTER XLIV.Of all current public questions, I know of none that so vitally affects the future of our financial interests as this one—what shall be the status of silver among the world’s cu...
112. CHAPTER XLV.HARMONY BETWEEN THE REPRESENTATIVES OF CAPITAL AND LABOR NECESSARY FOR BUSINESS PROSPERITY.—IF MANUFACTURERS SHOULD COMBINE TO REGULATE WAGES, THE ARRANGEMENT COULD ONLY BE TEMP...
113. CHAPTER XLVI._August, 1833._—There was great commercial distress, caused by contraction by the United States Bank. The bank defended its course on the ground of the evident hostilities of th...
114. CHAPTER XLVII.GREAT AS AN ACHIEVEMENT OF ART, BUT GREATER AS THE EMBODIMENT OF THE IDEA OF UNIVERSAL FREEDOM THE WORLD OVER.—IT IS A POETIC IDEA OF A UNIVERSAL REPUBLIC.—ENLIGHTENMENT OF THE...
115. CHAPTER XLVIIIHOW THE FORTUNES OF THE ASTORS WERE MADE.—GEORGE PEABODY AND HIS PHILANTHROPIC SCHEMES.—JOHNS HOPKINS AND HIS PECULIARITIES.—A. T. STEWART AND HIS ABORTIVE PLANS.—A SCULPTOR’S O...
116. CHAPTER XLIX.THE PRESERVATION OF THE UNION A GREAT BLESSING.—TO LET THEM “SECESH” WOULD HAVE BEEN NATIONAL SUICIDE.—HOW IMMIGRATION HAS ASSISTED NATIONAL PROSPERITY.—RESCUED FROM THE DYNASTI...
117. CHAPTER L.ALFRED SULLY, HIS ORIGIN AND SUCCESSFUL CAREER.—CALVIN S. BRICE, A FINANCIER OF ABILITY.—GENERAL SAMUEL THOMAS, PROMINENT IN THE SOUTHERN RAILROAD SYSTEM.—GENERAL THOMAS M. LOGA...
118. CHAPTER LI.HOW THE SYSTEM OF SETTLING DISPUTES AND MISUNDERSTANDINGS BY ARBITRATION HAS WORKED IN THE STOCK EXCHANGE.—WHY NOT EXTEND THE SYSTEM TO BUSINESS MATTERS GENERALLY?—ITS GREAT ADV...
119. CHAPTER LII.What New York has been as a centre for the settlement of financial transactions is a matter of history; what it is destined to be, in that respect, may not be so entirely certai...
120. CHAPTER LIII.THE SHOCK OF EVERY CALAMITY FELT IN WALL STREET.—EARTHQUAKES THE ONLY DISASTERS WHICH SEEM TO DEFY THE POWER OF PRECAUTION.—BECOMING A SUBJECT OF SERIOUS THOUGHT FOR WALL STREET...
121. CHAPTER LIV.THE AMERICAN REPRESENTATIVE OF THE ROTHSCHILDS.—BEGINS LIFE IN THE ROTHSCHILDS’ HOUSE IN FRANKFORT.—CONSUL GENERAL TO AUSTRIA AND MINISTER TO THE HAGUE.—A GREAT FINANCIER AND A...
122. CHAPTER LV.INCREASE OF POPULATION AND THE GROWING PRESSURE UPON THE MEANS OF SUBSISTENCE.—EDUCATION AND MORAL IMPROVEMENT THE TRUE REMEDY FOR EXISTING OR THREATENED EVILS.—ERRORS OF COMMUN...
123. CHAPTER LVI.HOW WALL STREET BANKERS’ NERVES ARE TRIED.—FINE HUMOR, JOCULAR DISPOSITIONS, AND SCHOLARLY TASTE OF OPERATORS.—GEORGE GOULD AS A FUTURE FINANCIAL POWER.—AMERICAN NOBILITY COMPAR...
124. CHAPTER LVII.WHAT WE ARE.—WHAT WE ARE PREPARING FOR.—WHAT WE ARE DESTINED TO DO AND TO BECOME.—WE ARE ENTERING ON AN ERA OF SEEMING IMPOSSIBILITIES.—YET THE INCONCEIVABLE WILL BE REALIZED.
125. CHAPTER LVIII.HIS BIRTH AND EARLY EDUCATION.—CLERK IN A COUNTRY STORE.—HE INVENTS A MOUSE TRAP.—BECOMES A CIVIL ENGINEER AND SURVEYS DELAWARE COUNTY.—WRITES A BOOK AND SELLS IT.—GETS A PARTNE...
126. CHAPTER LIX.CYRUS W. FIELD—HON. STEPHEN V. WHITE—AUSTIN CORBIN—PHILIP D. ARMOUR—HON. LEVI P. MORTON—JOHN A. STEWART—ANTHONY J. DREXEL—THE JEROME BROTHERS—ADDISON CAMMACK—RUSSELL SAGE—CHAUNC...
127. CHAPTER LX.The subjects of this sketch, whose portraits adorn these pages, are both members of my firm and I think this book would be incomplete without putting in a few words in reference...
128. CHAPTER LXI.Any review of the advance of this country during the past fifteen years, forms a record of the most wonderful progress ever made by any nation in such a short period. A record o...
129. CHAPTER LXII.Wall Street has lately been enjoying quite a boom in some respects differing from any in its previous history. Probably the most interesting feature about this boom is that it i...
130. CHAPTER LXIII.I believe that it would be difficult to set bounds to the possibilities of American development. The inventive genius of the people, their adaptability to all circumstances, the...
131. CHAPTER LXIV.You can now realize why we have for so long a period had a congested stock market. It started by the accumulation of Union Pacific by comparatively few people, the purchases bei...
132. CHAPTER LXV.Edward H. Harriman was born on Long Island in 1848. His father was a clergyman, and the family in poor circumstances. At the age of fourteen he left school, and began his busine...
133. CHAPTER LXVI.The mutations and vicissitudes, the ups and downs, of Wall Street can be best illustrated by sketches, from life, of the career and experience of its leading operators, who have...
134. CHAPTER LXVII.THE RESISTLESS POWER BEHIND THE MARKET.—THE ADVENT OF GOVERNOR R. P. FLOWER.—HOW STOCKS WERE BOOMED WITH A DASH.—A SUDDEN DEATH AVERTS A BIG PANIC.—MR. MORGAN AS A RAILWAY REORG...
135. CHAPTER LXVIII.MCKINLEY’S REËLECTION AND THE DEFEAT OF BRYANISM SET THE BIG BALL OF SPECULATION ROLLING ON THE STOCK EXCHANGE.—THE TREMENDOUS VOLUME OF SPECULATION BY BOTH LARGE AND SMALL CAPI...
136. CHAPTER LXIX.The year 1903 passed into history with few pleasant memories. To a great number of individuals it was a year of disappointment and loss. To the very few it was a year of golden...
137. CHAPTER LXX.The natural result of the panic of 1903, and the long period of depression in Wall Street, was that an unprecedentedly large surplus reserve was accumulated by the New York bank...
138. CHAPTER LXXI.The worst forebodings of September were far more than realized in October, when the monetary disturbance, and distrust of credits, spread from the Stock Exchange and Wall Street...
139. CHAPTER LXXII.The wiseacres in Wall Street and elsewhere had to take many sledgehammer blows in this panic year. They had become like Tom Toddy—too big-headed for their bodies. When a man kno...
140. CHAPTER LXXIII.Born in Pennsylvania, May 30, 1851; rose, from the bottom, to be President of the Carnegie Steel Company, then, on its incorporation, became President of the United States Steel...
141. CHAPTER LXXIV.Years ago I saw the inevitable end of the methods of some of the unscrupulous managers and manipulators of corporations, and began to agitate the employment of certified public...
142. CHAPTER LXXV.The rapid growth of our population, the great activity of all our industries, the general prosperity of the country, apart from the terrible calamity at San Francisco, and the i...
143. CHAPTER LXXVI.An address delivered by Henry Clews on Sunday afternoon, May 12, 1907, at the Columbia Theatre, Brooklyn, in debate with Professor Kirkpatrick, graduate of Albion College, Michi...
144. CHAPTER LXXVII.I think that you will agree with me when I say that there is nothing more commendable and that augurs better for the future of the institutions of our country—our great American...
145. CHAPTER LXXVIII.As all know, we have recently passed through a crisis of distrust in Wall Street—distrust of corporate credit, and railway and other corporate stocks. This was reflected in what...
146. CHAPTER LXXIX.Prior to May 3, 1869, the New York Stock Exchange was a body with a membership of 533. Of such original membership, there are now remaining 31, as appears by the following list,...
147. CHAPTER LXXX.There has recently been much discussion relative to the attitude of England and Russia towards the United States during our Civil War. This was provoked by the war between Russi...
148. CHAPTER LXXXI.Next to New York—being from New York I have to make this distinction—next to New York, I consider Cleveland the home of the most worthy set of business men in the United States....
149. CHAPTER LXXXII.The panic of 1907 naturally revived public interest in all our previous panics, and therefore a brief historical review of these is timely. The small one that followed the throw...
150. CHAPTER LXXXIII.Many people, and some newspapers, have a false impression that Wall Street is a gambling arena that does a great deal of harm and no good, and that it ought to be, as far as pos...
151. CHAPTER LXXXIV.It gives me no ordinary pleasure to address an audience of Pittsburg bankers, for Pittsburg is the hub of our iron and steel industry, and as it has no rival in the manufacture...
152. CHAPTER LXXXV.As you gentlemen of good old Yale are studying American social conditions, I am glad to have the opportunity of addressing you, and I congratulate you on the prestige you will d...
153. CHAPTER LXXXVI.An address delivered at the Annual Banquet of the National Association of Cotton Manufacturers, at the Hotel Brunswick, Boston, on Thursday evening, April 16, 1908, by Henry Cle...
154. CHAPTER LXXXVII.Declaring that all talk of trouble between this country and Japan is the outgrowth of “pernicious fabrication on the part of sensational newspapers,” Viscount Kentaro Kaneko, wh...
155. CHAPTER LXXXVIII.DECORATES HENRY CLEWS WITH THE ORDER OF COMMANDEUR OF THE MOST DISTINGUISHED ORDER OF THE RISING SUN—ON THE INSIGNIA IN JAPANESE LETTERS IS “KUN-KO-SEI-SHO”—WHICH MEANS “EXALTED...
156. CHAPTER LXXXIX.The political and popular clamor against the industrial Trusts, with which we have been long familiar, was due primarily to the anti-monopoly sentiment of the people, but in a f...
157. CHAPTER XC.I came to this country from England over fifty years ago, expecting to stay for merely a short visit. I had barely learned the localities of the public buildings and the princip...