356 WALL STREET AND THE WILDS 



make a great turn for Gould's Western Union 

 by calling his company's loans on Bankers and 

 Merchants. 



I thought to reduce the perils of the situation 

 by continuing construction with bonds and pre- 

 pared an issue of ten millions. This was a grave 

 mistake and its result calamitous. For despite 

 all restrictions in the issue of the bonds to con- 

 tractors and others, they found their way in times 

 of stress to a market not prepared to digest them. 

 I contemplated finding a permanent resting 

 place for the bonds in the vaults of some great 

 institution, but as none of the trustees of such 

 corporations were interested in my enterprise I 

 put off the attempt from time to time until the 

 panic of May, 1884, postponed it to the Greek 

 Kalends. 



When work extends over half a continent its 

 call for cash is appalling and I wonder as I look 

 back how I was able to provide the money and 

 keep up full steam on construction. Thirty 

 vears ago was not as to-dav for you could almost 

 count the millionaires on your fingers while 



