From: Min Wei
Yinghui Zhang
•1836 -- 1892
• He was born in New York.
• He was an American
financier who became a
leading American railroad
developer.
• He died at the age of 57,
leaving $ 77 million in his
lifetime.
•Railroad
Age of 18, he had become a
land surveyor in New York,
earning $ 5000 in this process.
Railroad traveled on his lands,
government needed to pay
money.
Between 1885 and 1889,
Jay Gould gained control of the
Wabash ,the Texas and Pacific
Railroad.
He created the Manhattan
Elevated Railroad of New York.
•Telegraph system
He created the Western Union
Telegraph Company. He had bought
the American Union Telegraph
Company in 1879, and joined it with
Western Union in 1881. He
controlled the telegraph network of
•Gold market
Baltimore and Ohio Railroad.
Jay Gould corner the gold market .
He controlled of government policy.
•Black Friday
in August 1869, Jay Gould corner
the gold market. He bought the gold
with low price and sold it in pretty
high price. On September 24, 1869,
the price of gold fell a lot because
him. That’s the famous Black Friday.
• Jay Gould bought the Union Pacific and
other smaller lines in the Southwest, he
controlled about one- ninth of the railway
mileage of the United States.
• In 1882, he sold his interest in the Union
Pacific. He turned his financial talents
toward the Missouri Pacific Railroad. He
bought the stock of The Missouri Pacific.
Jay Gould used his money to develop
the Western Union Telegraph Company,
newspapers, and elevated trains in New
York City.
•
Jay Gould appeared
to treat their workers
well. He was worth a lot
of money because of his
business skills.