Memories from the Homestead: The Iron Horse - the life of Jay Gould [part 3]

     Over the last two weeks I've provided a look at the development of the White River Railroad through our area. Eventually the Missouri Pacific Railroad took over complete ownership and our railroad was simply referred to as the "White River Division."

    Today I'd like to wrap this three-part series by looking into the life and career of Jay Gould. He purchased the Missouri Pacific in 1879. I'll get into that here in a moment.

     Roxbury, New York, was the birthplace of Jason Gould on May 27, 1836. His parents were John and Mary Gould. Growing up in poverty, his family ran a dairy business. Young Jay wanted nothing to do with farming as a boy. His father gave him fifty cents and a sack of clothes, and dropped him off at a nearby school. 

     Jay's higher education took place in Hobart, New York, and he paid his way by working as a bookkeeper on the side for a local blacksmith. His school principal helped him get the job. By the time he was eighteen, his interests were mathematics and surveying. This led to a project where he mapped and surveyed Ulster County, New York.

     At age twenty he became involved in leather works and partnered in a tanning business in Pennsylvania in an area that would later be known as Gouldsboro, named in his honor. He also published a book, the "History of Delaware County, and Border Wars of New York."  After the Panic of 1857, Jay would get into ice harvesting from a local lake, providing New York City with ice during the summer months. He built a railroad to provide a way to ship the ice as he had constructed large ice houses along the lake for storage.

     Jay married Helen Day Miller in 1863 and they would have six children together. His father-in-law Daniel introduced him to the railroad industry and this is where Jay and his family would make their fortune.

    In 1859, Gould began purchasing stock in small railways. His first investment was the Rutland and Washington Railroad, and going into the Civil War, his railroad investments would continue.

    Into the 1870s, Gould would take over the Union Pacific Railroad after its stock had dropped during the Panic of 1873. This railroad company would continue to grow, and over the next decade, hundreds of miles of railroad would be constructed throughout the Midwest, a great advantage to farmers and ranchers. In 1879 Gould purchased the Missouri Pacific, as well as the Denver and Rio Grande Railway. 

    All of this brought great wealth to Gould and his family. He now controlled 10,000 miles of railroad and would also obtain controlling interest in the Western Union telegraph company. As of 1882, Gould owned 15 percent of the country's railroad tracks. The railroads all made amazing profits since they could set their own rates.

     The Missouri Pacific Railroad headquarters were in St. Louis. This would become one of the first major railroads west of the Mississippi River. Their repair shops were established in Sedalia. Gould would expand the Missouri Pacific into Nebraska, Colorado, Arkansas, Texas and Louisiana. His son George would operate it from the 1890s until 1915. The entire system was reorganized two years later, remaining as the Missouri Pacific Railroad. 

     There was some unfortunate scandal and political controversy during Gould's career. He was often criticized, and wasn't seen as a business builder, but rather a trader. He decided to step down from Union Pacific's management team in 1883. His business practices and ethics were different indeed, but not that unusual for the time, according to a number of experts.

     The Goulds’ personal residence was Lyndhurst, along the Hudson River, which they purchased in 1880. The family was also members of the West Presbyterian Church of New York City. Their son George would also become involved in much of the railroad business like his father.

     Jason "Jay" Gould passed away on the morning of December 2, 1892. He had experienced a number of health issues from complications with tuberculosis in the weeks prior to his passing. He was only 56.

     At the time of his death, his fortune was estimated at $72 million (approximately $2.44 billion today). His fortune was willed to his children and family. 

     Many newspapers across the country paid their tributes to him after his passing. Gould's business partner, Washington Connor, had this to say just after Gould's passing. "Jay Gould had a wonderful reputation as a wonderfully able man, those who knew him know that he has been rather underrated than overrated. Wall Street has never seen his equal and never will. I think that every man who has had associations with Mr. Gould has entertained the kindest feelings toward him, and would take his word for any amount in any business transaction, and that is more than you can say of many men who have been much less abused than Jay Gould."

     Today our White River Railway continues as it's about to begin its 119th year of operation in 2025. The Union Pacific took over the White River Division of the Missouri Pacific in 1982. Today it's operated by the Missouri and Northern Arkansas Railroad (MNA). Our dear friends here at the Branson Scenic Railway have been running excursions over a portion of the line since 1993. I highly recommend taking a trip with them and visiting the historic Branson depot from 1906, one of the oldest railroad buildings still going strong, located at 206 East Main St. Visit their website; go to bransontrain.com.