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Financier (1836–1892) known for his stock market manipulation of railroad securities; he also tried to corner the gold market, leading to the 'Black Friday' stock market crash of September 1869. DS, signed twice, "Jay Gould," 38 pages, 9 x 12, August 1, 1884. Lengthy mortgage bond document for a mortgage bond in the amount of $6,500,000 between the Texas and Pacific Railway Company and the Fidelity Insurance, Trust and Safe Deposit Company, to "repair, reconstruct and complete its road-bed at various places in the States of Louisiana and Texas…and to provide necessary additional rolling stock and additional bridges, side-track and other structures and fixtures necessary for the economical operation of the said road; and to furnish facilities for the transaction of its increased business, and to maintain the said road in operation throughout its whole length from El Paso, aforesaid, to Gouldsboro." Signed at the conclusion in ink by Jay Gould as president of the Texas and Pacific Railway Company, and signed again on an attached notarized affidavit. Bound in its original paper wrappers and in very good to fine condition, with light soiling to the exterior and a few unobtrusive corner folds.
The agreement reflects Jay Gould’s aggressive expansion of the Texas and Pacific during the great railroad-building era of the 1880s, when the line formed a crucial east-west link between New Orleans and El Paso. This massive $6.5 million financing was intended not merely to maintain the road, but to modernize its infrastructure and rolling stock to accommodate growing traffic across Texas and Louisiana—an important document from the height of Gould’s influence over the American railroad industry.
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