The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-19
INTERVIEW WITH COMMODORE
VANDERBILT.

At seven O'Clock last evening Com,co dore Van
derbilt arrived at his house in Fourth street, after
drive in the Park with his handsome trotters.
Five minutes later HERALD reporter sent his
name up to the veteran Railroad King, with the
request that he would accord an interview of a
couple Of minutes to the writer. After waiting in
the hall for q few minutes . nimble-ooted maid
servant, who wore q blue te,,d,e neckte.
skipped down the broad and handsome
staircase which led to the Commodore's
sitting room, with an Invitation to follow her,
which was promptly accepted, and few seconds
later he was in the presence OF Commodore
Vanderbilt. Rising from his chair with the dig
nifty Of an old courtier, he politely invited the
reporter to be seated. lie then threw himself
back IN his capacious easy chair and turned his
bright and penetrating eyes upon him, which
tacitly said, 81 am waiting for my dinner and sui.
fering the effects Of the naupats quart d'heure,
but pray proceed with your questions" The fol-
lowing conversation then took place.
REPoRrER-You have heard to-day, Mr.. Wander
blt, suppose, of the Wall street panic?
COMMODORE-No. I have only Just come in from
driving and it is all news to me but after dinner
shall see what the evening papers say.
REPoRrER-Well, you will, perhaps. allow me to
tell you that Jay Cooke & Co., with immense liza
biities, have been compelled to close their DOORS
as they allege, through heavy demands being made
upon them by their Philadelphia house. The First
National Bank in Washington, Of which Mr.. Henry
ID. Cooke was President, is also closed; and, in
fact there Is panic In that city. 1t Is reported
also that there Will be numerous other failures to-
morrow.
CoMMoDoRE-Yes, but you must not forget tnat
the reverse may possibly be the case and things
before they are Matched.
REroRrER-I forgot to tell you Robinson. q
Richard Schen has also had to suspend payment.
PENNSYLVANIA STOCK. N
COMMODORE pensively)-Wel there was no
reason why scheil should have faiIedNwanted to
be rich too quick suppose-but let me ask you
question; was there any rumor set aioat about
REpoRrER-Yes: such a story was noated, but
met with little credence. 1t was to the effect that
the road was unable to meet its labilities but at
halepast two the canard was officially contra
dcted.
then took place, while the Commodore had his
brows contracted as if In thought. The reporter.
after waiting Tor the veteran TO relax the muscles
or his lace, asked him what was the cause OF the
rOttenness in Wall street, in hts opinion.
COMMODORE Giving one Of his Keen glances over
his spectacles and speaking deliberatey)-rll tell
you what's the matter-peOple undertake to do
about Jour times as much business as they can
short and have to bolster up their business as well
as they can by robbinR Peter to pay Paul. II peo-
pie Will carry on business In this mad-cap manner
they must run a-muck.
THE COMMODORE ON RAILROADS.
"There are great many worthless railroads
them through. Respectable banking houses in New
York, so called, make themselves agents for the
sale OF the bonds OF the railroads in question and
give kind OF moral guarantee OF their genuine
ness The bonds soon reach Europe and the mar
kets OF the commercial centres; from the character
OF the endorsers are soon Hooded with them. Now
marx the sequence The road gets into difficulties
and bad language Is heard all round.
DAMAGING AMERICAN CREDIT.
These worthless roads prejudice the CONNER
cial credit OF our country abroad. Building rail-
roads from nowhere TO nowhere at public expense
is not legitimate undertaking. I might make
illusions To Texas Midland and other new rail-
roads, but you must excuse me, for am friend
OF the iron road, and like to see IL stretching
to every corner OF the United States They help
to develop our commerce and civilization, ana
ought to be encouraged All have to say is. when
railroads are 10 be built don't victlmiZe the pnb-
lie to build them.
"When have some money buy railroad stock
or something else but don't buy on credit Ipay
for what get. People who live too much on credit
generally get brought up with round turn in the
long The Wall street averages ruin many
man there, and IS like, faro. Mistrust Will be en-
more solid basis, ana pay as we go. am really
very sorry cannot give the HERALD any definite
Information about to-day's panic, but let hope
that things will straighten themselves out to-mor
row.
THE RECENT RoND FoRGERIEs
REPoRTER-One question more If you please, Mr..
Vanderbilt Does the New York Central Railroad
intend Offering any reward Tor the capture oil the
forgers, who recently operated so largely in that
stocKS ask this because considerable comment
has taken place In Wall street over the ethargy of
the Stock Exchange IN offering no inducement TO
capture the gang, who have deirauded the street
ont of ut least $l50000Y
Commodore VANDERBILT-I do not consider such
an expenditure OF money belonging to the COM
pany Legitimate. What do we care about the
forgeres?
Thanking Mr.. Vanderbilt for his patience and
courtesy the reporter withdrew.
crvr,,po Am mry1 rvv,v1v .r,-~xxx,