Gould, George Jay

Gould, George Jay

(go͞old), 1864–1923, U.S. railroad owner, b. New York City; son of Jay GouldGould, Jay,
1836–92, American speculator, b. Delaware co., N.Y. A country-store clerk and surveyor's assistant, he rose to control half the railroad mileage in the Southwest, New York City's elevated railroads, and the Western Union Telegraph Company.
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. He was associated with his father, inherited all the holdings on Jay Gould's death, and adopted daring policies. To compete with E. H. HarrimanHarriman, Edward Henry,
1848–1909, American railroad executive, b. Hempstead, N.Y.; father of William Averell Harriman. He became a stockbroker in New York City and soon entered the railroad field, where he attracted attention by able management of the Illinois Central RR,
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 he bought the Denver & Rio Grande RR. When Harriman bought the Southern Pacific and bottled up the Gould roads, Gould purchased the Western Pacific and completed it to San Francisco to get an outlet to the sea. In the east he also bought or built lines from Toledo to Baltimore via Pittsburgh to give the Wabash RR an outlet to the Atlantic and to challenge the monopoly of the Pennsylvania RR. He seemed to have a transcontinental system in his grasp, but his financing was unsound, and he crashed in the Panic of 1907. By 1918 all the roads had been lost.

Bibliography

See E. P. Hoyt, Jr., Goulds (1969).

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