Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1869-10-27

father.
81 expected you would spend $50,
600, and you have only drawn on m
for 10000"
81 am glad you are pleased" sal,
William, but TO this day he confesse
himself in doubt as to whether tn
old gentleman meant the remark il
commendation or in reproof of hi
travelling expenses.
TUITION IN BUsInrss
William b. Astor's tuition in bust
ness was a long and thorough one
He went into his fathers office. Ill
learned his fathers business He ad
vanced with him by the stepping
stones to fortune. He saw how ht
had mado his money and how he con
tinued TO make il. He knew every
detail of his vast operations. 1t wa'
not fur and teas that made him the
possessor of twenty millions. Every,
body knows that it was bis operations
in real estate that made him the i'm
mensely y wealthy man he became. II
was here that William b. Astor took
his tuition in the great art of money
making in this city. tits unnecessary
to go over these long years of tuition.
As the intirmities of age crept on his
father his responsibilities were in.
creased In the last few years of his
fathers lie he had supreme control.
PRIVATE FORTUNE.
Meantime he had quite an indepen-
dent property of his own. His uncle,
Henry Astor, had died, leaving him
half million of money. This he had
wisely invested, and il was rapidly in
the way of doubling itself The Astor
House was built in 1885. Shortly
after it was completed he was looking
at it with his father.
allow do you like the building" !"
bis father asked him.
81 am very much pleased with it,"
$50 you like itr"
"Yes."
"Give me a dollar and tho building
is yours"
Every body has heard this story,
and the most, probably, doubted its
truthfulness 1t is true, and il is fur
ther true that the son was not long in
paying the dollar aud thus consum-
mating the bargain The increase
from this had likewise largely in
creased his private fortune. His father
also gave him, several years before his
death, his present residence in Lafay-
ette place, adjoining the Library.
a~nuNr nF MS rNurnrnsNrp
So feeting is time it hardly seems
tweDty-one years ago since John
Jacob Astor died Many remember
the chilly March day and the sombre,
leaden clouds that overhung the city
the day of his funeral The pail bear
ers were chosen from among the most
illustrious of our citizens. Six clergy
men ofiiciated at the ceremony In
the vault Of st. Thomas church he
was buried. His estate was estimated
at s20,000,000. Two days after the
funeral the Herald, with that spirit OF
enterprise characterizing its conduct,
then as now, published his entire will,
covering five closely printed columns.
This will indicate the disposition OF
his vast northumberland William B
Astor as his principal legatee. VIII
lam b. Astor was now the richest man
on this Continent. There is power in
millions ofmoncy-a power surprising
the sway of sceptred sovereignty, a
power exceeding fame, a power
oxcelling everything in the world
beside. IL is true, as already stated,
that for many years previous to the
decease OF his father he had almost
exclusive control Of tho estate. But
he was not the possessor then as now,
As his inther's agent he was treated
with the Difference money command
Transformed from the agent into the
positive proprietorship of accumulated
millions his power became greater
and the humble Difference shown the
agent expanded itself into profound
salaams. Such is the power OF
money
EululUE NNAi MuU lfNW NNt WNWNAH
OF the earth, which mon fall down before
Aud worship and call God.
This sudden possession Of cxtraordi
nary wealth turned the eyes Of every
body upon William b. Astor Itmad,
him neither giddy, arrogant nor profit
gate. He continued bis course o
regularity, industry and moderation.
AS SUCCESSOR TO HIS FATHERS FORTUNE
The first thing Mr.. Astor did upoI
succeeding to his colossal inheritance
was to carry out the bequests of hi
own sons TO Waldorf, in Germany
his fathers birth-place--to atten'
personally to the disposition of tn
funds assigned for bestowal there.
large discriminating power was loi
with Mr. Astor us TO the best mode Q
Investing this money. His wisdom
as financial manager in turning 4
! the best and most permanent accoun
, this fund, and also the largo an
henlthful growth Of charity in his owl
heart, are shown in his iudicious dis
] posal of the $50, 900 thus entrusted 4
: him. Amer putting up the prope
z buildings for an institution who's
olcemosynary character should en-
! brace The poor Of Waldorf Of all ages
D sexes and religious beliefs, he managed
, to invest s43, 900 for its permanon
| maintenance. II is now in mos
, nourishing condition. The aged an
inilrmed poor, irrespective of colol
through disease or other causes, nr
4 here given n pleasant home orphal
children from the ages Of six TO fifteen
left without support, are here give
] instruction and trained TO active an
industrious habits, and there are ais
apartments for the blind and deaf an
!. dumb and nursery for infants. Th
name Of the institution is the Asto
I House.
!. 81 take great pride in the Asto
J, House of New York. Mr.. Astor ha
been heard TO say, when referring I
I this institution, "but q greater prid
c in the Astor House Of Waldorf Th
Y massive granite blocks and pillars {
Q the former may crumblo and fall
~. "a. .,lt,t,.,a .,I .a