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

father
81 expected you would spend $50,
0oO, and you have only drawn on mt
for 10000"
"l am glad you are pleased, /" sale
William, but TO this day he confesse,
himself in doubt as to whether th,
old gentleman meant the remark il
commendation or in reproof of hi,
travelling expenses.
TUITION IN DueInEss.
William b. Astor's tuition in busi
ness was a long and thorough one
He went into his fathers office. lie
learned his fathers business. He ad.
vanced with him by the stepping
stones to fortune lie saw how he
had made his money and how he con.
tinued to make it. He knew every
detail of his vast operations. 1t was
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 tho i'm.
mcnsely 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 infrmities of age crept on bis
father his responsibilities were in.
creased In the last few years of his
fathers life he had supreme control.
PRIVATE FORTUNE.
Meantime ho had quite an indepen.
dent property of his own. Ills uncle,
Henry Astor, had died, leaving him
half q million Of money. This be had
wisely invested, and it was rapidly in
the way of doubling itself. The Astor
House was built in 1885. Shortly
after IL was completed he was looking
at il with his father.
"IIow do you like the building ?"
bis father asked him.
81 am very much pleased with it."
$50 you like iti"
"Yes."
"Give me dollar and the building
is yours"
Everybody has heard this story,
and the most, probably, doubted its
truthiulness. II is true, and it 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.
ettc place, adjoining the Library.
AMnuNT OF MS INHEpIrANcE.
So fleeing is time it hardly seems
twenty-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
tho 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 wealth-indicated William B
Astor as his principal lcgatee. Will
lam B. Astor was now the richest man
on this Continent There is power in
millions ofmonoy-a power surprising
the sway of sceptred sovereignty, a
power exceeding fame, a power
exeelling 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
be was not the possessor then as now.
As his fathers agent he was treated
with the Difference money command,
Transformed from the agent into the
positive r-opriotorship of accumulated
millions bis power became greater,
and the humble Difference shown the
agent expanded itself into profound
salaams. Such is the power of
money
Shining dust dug from the bowels
or the earth, which men 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. It made
him neither giddy, arrogant nor profit
gate. lie continued his course of
regularity, industry and moderation.
AS SUCCESSOR TO his FATHERS FORTUNE.
The first thing Mr.. Astor did upon
succeeding to his colossal inheritance
was 10 carry out the bequests Of bis
own sons to Waldorf, in Germany
his fathers birth-place-to attend
personally to the disposition of the
funds assigned for bestowal there. A
large discriminating power was left
with Mr.. Astor us TO the best mode OF
Investing this money. His wisdom
as financial manager in turning TO
the best and most permanent account
this fund, and also the largo and
healthiul growth Of charity in his own
heart, are shown in his judicious dis
posal of the $4,000 thus entrusted to
him. Ailcr putting up the proper
buildings for an institution whose
clecmosynary character should en-.
brace the poor Of Waldorf of all ages,
sexes and religious beliefs, he managed
to invest $4,000 for It's permanent
maintenance 1t is now in most
flourishing condition. The aged aud
innrmed poor, irrespective Of color,
through disease or other causes, are
here given a pleasant home; orphan
children from the ages Of six to fifteen,
left without support, are here given
instruction and trained 10 active and
industrious habits, and there are also
apartments for the blind and deaf aud
dumb and nursery for infants. The
name Of the Institution is the Astor
House.
81 take great pride in the Astor
House of New York" Mr.. Astor has
been heard 10 say, when referring to
this institution, "but a greater pride
In the Astor House OF Waldorf The
massive granite blocks and pillars Of
the former may crumblo and fall TO