Financier well-known for his stock market manipulation of railroad securities; he also tried to corner the gold market, causing the “Black Friday” stock market crash of September 1869. Draft document, signed “Jay Gould,” and “William Belden,” one page of William Belden letterhead, 5.5 x 8.5, December 21, 1878. Handwritten at the top “Whereas Mr. Belden claims that he has made certain losses on North western RR Co stock amounting to about $75000, which he urges were made while acting under Mr. Gould’s advice.” Document continues, in part: “Agreement made between Jay Gould of one part, and William Belden of the other part—in consideration of the premises: 1 - Mr. Gould sells to Mr. Belden five thousand shares of Union Pacific stock at sixty six dollars per share. 2 - Mr. Gould guarantees to Mr. Belden a profit of $50,000 on the stock within one year.”
A second unsigned manuscript document, one lightly-lined page both sides, 8 x 12.5, dated December 21, 1878, being a final version of the above draft document, with interesting changes to the original draft. In part: “Whereas William Belden claims that he has made certain losses on Northwestern Railroad stock amounting to about seventy five thousand dollars, which he urges were made while acting under Mr Goulds advice; Now this agreement made between Jay Gould of the one part and William Belden of the other part, in consideration of the premises aforesaid, is as follows: First: Mr. ['Bel' crossed out] Gould sells to Mr. Belden, and Mr. Belden buys of Mr. Gould, five thousand shares of the Union Pacific stock at sixty-six dollars a share. Second: Mr Gould guarantees to Mr. Belden such an advance in the price of the stock within one year from this date as will enable Mr. Belden - to make a profit of fifty thousand dollars on said stock within one year from this date, interest on the cost of the stock to be at the rate of seven per cent in arriving at the profit.”
In very good condition, with missing lower left corner, intersecting folds, and some stray ink marks. Larger document also rates very good, with partial separations along horizontal folds, and some scattered light toning and soiling. Pre-certified PSA/DNA and RRAuction COA.
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