Part 20

There I met Jay Gould familiarly; and resumed acquaintance with Russell Sage, whom I had known when a lad in Washington, he a hayseed member of Congress; and occasionally other of the Wall Street leaders. In a small way--though not for long--I caught the stock-gambling fever. But I was on the "inside," and it was a cold day when I did not "clean up" a goodly amount to waste uptown in the evening. I may say that I gave this over through sheer disgust of acquiring so much and such easy and useless money, for, having no natural love of money--no aptitude for making money breed--no taste for getting it except to spend it--earning by my own accustomed and fruitful toil always a sufficiency--the distractions and dissipations it brought to my annual vacations and occasional visits, affronted in a way my self-respect, and palled upon my rather eager quest of pleasure. Money is purely relative. The root of all evil, too. Too much of it may bring ills as great as not enough.

At the outset of my stock-gambling experience I was one day in the office of President Edward H. Green, of the Louisville and Nashville Railway, no relation of Dr. Norvin Green, but the husband of the famous Hetty Green. He said to me, "How are you in stocks?"

"What do you mean?" said I.

"Why," he said, "do you buy long, or short? Are you lucky or unlucky?"

"You are talking Greek to me," I answered.

"Didn't you ever put up any money on a margin?"

"Never."

"Bless me! You are a virgin. I want to try your luck. Look over this stock list and pick a stock. I will take a crack at it. All I make we'll divide, and all we lose I'll pay."

"Will you leave this open for an hour or two?"

"What is the matter with it--is it not liberal enough?"

"The matter is that I am going over to the Western Union to lunch. The Gould party is to sit in with the Orton-Green party for the first time after their fight, and I am asked especially to be there. I may pick up something."

Big Green, as he was called, paused a moment reflectively. "I don't want any tip--especially from that bunch," said he. "I want to try your virgin luck. But, go ahead, and let me know this afternoon."

At luncheon I sat at Doctor Green's right, Jay Gould at his left. For the first and last time in its history wine was served at this board; Russell Sage was effusive in his demonstrations of affection and went on with his stories of my boyhood; every one sought to take the chill off the occasion; and we had a most enjoyable time instead of what promised to be rather a frosty formality. When the rest had departed, leaving Doctor Green, Mr. Gould and myself at table, mindful of what I had come for, in a bantering way I said to Doctor Green: "Now that I am a Wall Street ingénu, why don't you tell me something?"

Gould leaned across the table and said in his velvet voice: "Buy Texas Pacific."

Two or three days after, Texas Pacific fell off sixty points or more. I did not see Big Green again. Five or six months later I received from him a statement of account which I could never have unraveled, with a check for some thousands of dollars, my one-half profit on such and such an operation. Texas Pacific had come back again.

Two or three years later I sat at Doctor Green's table with Mr. Gould, just as we had sat the first day. Mr. Gould recalled the circumstance.

"I did not think I could afford to have you lose on my suggestion and I went to cover your loss, when I found five thousand shares of Texas Pacific transferred on the books of the company in your name. I knew these could not be yours. I thought the buyer was none other than the man I was after, and I began hammering the stock. I have been curious ever since to make sure whether I was right."

"Whom did you suspect, Mr. Gould?" I asked.

"My suspect was Victor Newcomb," he replied.

I then told him what had happened. "Dear, dear," he cried. "Ned Green! Big Green. Well, well! You do surprise me. I would rather have done him a favor than an injury. I am rejoiced to learn that no harm was done and that, after all, you and he came out ahead."

It was about this time Jay Gould had bought of the Thomas A. Scott estate a New York daily newspaper which, in spite of brilliant writers like Manton Marble and William Henry Hurlbut, had never been a moneymaker. This was the World. He offered me the editorship with forty-nine of the hundred shares of stock on very easy terms, which nowise tempted me. But two or three years after, I daresay both weary and hopeless of putting up so much money on an unyielding investment, he was willing to sell outright, and Joseph Pulitzer became the purchaser.

His career is another illustration of the saying that truth is stranger than fiction.

Joseph Pulitzer and I came together familiarly at the Liberal Republican Convention, which met at Cincinnati in 1872--the convocation of cranks, as it was called--and nominated Horace Greeley for President. He was a delegate from Missouri. Subsequent events threw us much together. He began his English newspaper experience after a kind of apprenticeship on a German daily with Stilson Hutchins, another interesting character of those days. It was from Stilson Hutchins that I learned something of Pulitzer's origin and beginnings, for he never spoke much of himself.

According to this story he was the offspring of a runaway marriage between a subaltern officer in the Austrian service and a Hungarian lady of noble birth. In some way he had got across the Atlantic, and being in Boston, a wizened youth not speaking a word of English, he was spirited on board a warship. Watching his chance of escape he leaped overboard in the darkness of night, though it was the dead of winter, and swam ashore. He was found unconscious on the beach by some charitable persons, who cared for him. Thence he tramped it to St. Louis, where he heard there was a German colony, and found work on a coal barge.

It was here that the journalistic instinct dawned upon him. He began to carry river news items to the Westliche Post, which presently took him on its staff of regular reporters.

The rest was easy. He learned to speak and write English, was transferred to the paper of which Hutchins was the head, and before he was five-and-twenty became a local figure.

When he turned up in New York with an offer to purchase the World we met as old friends. During the interval between 1872 and 1883 we had had a runabout in Europe and I was able to render him assistance in the purchase proceeding he was having with Gould. When this was completed he said to me: "You are at entire leisure; you are worse than that, you are wasting your time about the clubs and watering places, doing no good for yourself, or anybody else. I must first devote myself to the reorganization of the business end of it. Here is a blank check. Fill it for whatever amount you please and it will be honored. I want you to go upstairs and organize my editorial force for me."

Indignantly I replied: "Go to the devil--you have not money enough--there is not money enough in the universe--to buy an hour of my season's loaf."