Middletown transcript., 1868-04-25

earning of the first thousand dollars is
the most difficult step on the road to
wealth.
Mr.. Astor died in March, 184S, be-
queathing four hundred thousand dollars
to found free public library, which is
known as the Astor Library, and compri-
ses the most extensive and best classified
assortment of books in the country. The
bulk of his property descended to his son,
William B. Astor, who has frequently
been estimated the richest man in the
world.
CORNELIUS VANDERBILT
was born on Staten Island, May 81, 1894.
His early education was defcient-owing
quite as much to his own taste for books
as to his lack of opportunity He was al
ways, however, bright, intelligent, and
full Of energy; and what he failed to
draw from books, he more than made good
in practical observations. and applications.
At the age of sixteen he determined to
strike out for himself. His first project
was to become the owner of sail-boat.
He applied to his father for aid, but was
not at first successful. After considerable
importantly he was promised the necessa-
ry amount-one hundred dollars-upon
the completion of a certain task on the
farm. With the ready aid of few COM
panions, to whom he impaired his secret,
the task was soon completed, and the first
Vanderbilt boat was afoat under the
command of its owner. Like most first
efforts, this virgin essay at seamanship
was not wholly without its adverse incl
dents. The boat ran upon a rock, and it
required all the skill and coolness of its
inexperienced commander, to run it ashore
before it sunk. The wreck was not to-
tai one, however, and after few hours,
the injury was repaired, and the intrepid
navigator brought up in proper style at
the Stapleton dock.
The bent of the youthful mind thus
plainly shadowed forth the probable des-
tiny of. the man, who has since been
known to be the largest owner of steam
boat property in the world. In 1917 Mr..
Vanderbilt commanded his first. steam
boat, which, on account of its size, was
called "The Mouse of the Mountain" In
few months he was promoted to larger
craft, the GO Bellona," which piled between
New York and New Brunswick, which was
then the great route to Philadelphia.
In 1927 he leased the New York and
Elizabethport ferry for seven years; and
at the end of that time for seven years
more, making an excellent success out of
aprevious failure.
His great financial prosperity commen-
ced with the California gold excitement in
1849, eliminating in the establishment
and control'of the Nicaragua route, which
was completed in July, 1851. The amount
of business done over this route, and the
enormous rates charged for freight and
passengers, could have but one result, SO
far as the owners were concerned.
In 1858, Mr.. Vanderbilt, with his fam
lily, took pleasure excursion to Europe
iu his own vessel, the North Star, which
was built and furnished for that purpose.
He visited most of the European ports,
and was treated with great courtesy by the
authorities and eminent citizens of Eng
land, France, Austria, and Russia.
During our late civil war, when the
Government was in straits for vessels to
carry on its naval operations, Commodore
Vanderbilt made.a free offer of his splen-
did ship, the Vanderbilt" which, though
not accepted, procured for him quite ma
tional reputation.
During recent years, Mr.. Vanderbilt
has devoted himself to railroad interests
with the same energy and success that has
oh I.a
dent of the New York Central, Hudson
River, and Harlem Railroads, he has
wrought wonders, both for the public and
the stockholders, conclusively showing
that good dividends are not incompatible
with the security and comfort Of. the travel
ing public.
By referring to the date of his birth, it
will be seen that Mr.. Vanderbilt is now
"a years old-an age which would seem
to demand retirement and rest. Instead
of these, however, he was never more
burthened with labor and responsibility,
and never more active and capable in the
discharge of his great trusts A brain
like his can never rest while there is vital
force to give it scope.
ALEXANDER t. STEWART,
is native of Ireland. He came to this
country while young man, and Was first
employed in teaching. He soon engaged
in small way as a merchant His first
store was opened in 1897, and was con-
Quoted, in all its departments, by himself.
His adaptability to his new pursuits soon
became manifest in his prosperity. At
fortunate juncture, he purchased the site
upon which now stands the structure for
so many years known as Stewards Marble
Palace, on the corner of Chambers Street.
Broadway and Reade Street. In erecting
this immense building, on the east side Of
Broadway, Mr.. Stewart committed two
acts OF innovation which plainly indicated
his independence and nerve. The west side
of Broadway was known as the promenade,
"or shilling" side, as opposed to the
deserted, or sixpenny"~ side, and trade
was supposed to prosper only on the west
side; while never before had the most
uontnroopna fraAaa.o.s. I~-.I