Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-03-06
AT FER THE sTSs23I
Financial Condition s,f Some OY The
lNilIiomaircs ~ Ne.v York.
cincinnati Gazette Letter

HiIfionaircs ~ New York.
tcimcir natl Gazette Letter
Since the September panic, all sorts
of stories have been told Of the def ri
mcnt some Of or miiiiCnaires have
suffered by the arrangement and de-
cline in values. According to rumor.
the rich have either been rnined or So
reduced as to he 40 longer powerful.
Tale of this kind must ALWAYS be re-
ceiveu with liberal allowance. They
are apt to be based on Ignorance or
ut least on the ahrinkage of prices.
and the proportion of shrinkage ap-
piled to the fortunes of the supposed
to be crippled. Que of the chief adj
vautages OF wealth, during period
OF discrs dit, consists in the fact that
it is not forced to sell at prevailing
quotations. It can afford to hold. and
the security being good. the loss is
possible, Lot actuai--calculatcd in
other words, npon what it might be if
it were not.
CORNELIUS vANDERBILT.
\ conspicuous victim in popular .r,,-
prehenSion, OF thc recent Gollarous
revolution (you mey make it 'sdoior-
ous, II you like has been Cornelius
Vanderbilt, from whose estate the
newspapers have suhtracted from So
600, 900 to So, 1000, 0Gp. The difference
between the quotations Of his stocks
New York Central, Lake Shore, West
ern Union and others--on the first
days Of September and those of Octo-
Der, would easily foot up that amount.
But does anybody imagine that the
venerable rcynard disclosed of any OF
his property at the decline Has he
SO marveiously managed, schemed,
contrlved for half 4 century, forsooth,
to be caught at last in so shallow a
trap? Verify, not he. On the con.
trary, he has kept all the bad, and he
purchased more while the market was
down. He is carrying vast deal now;
but has marked out his programme,
and within few months, he will
turn what was the general harm to his
individual benefit. Vanderbilt is still
worth all of $50. 900, 900, and Will
doubtless Increase the sum by $l0,-
600, 900 before the first of the coming
June. The panic frightened him a lit
tie, for the market went beyond his
control-something he was unaccus-
toned to-proving, to his surprise,
that he cannot always play the fnan-
cial Jupiter. The crisis Will avail him
i'll teaching hum prudence, which a
Yonker of his hot blood and intense
impctuosity needs.
The Commodore loves money. it is
said, more for its own sake than fer
the power it yields. Il distresses him
to lose the smallest sum, as is
shown by his whist-playing at
Saratoga every summer. He watches
each point of the game. and
is almost Invariably a winner. II lie
is compelled, however, ct the end of
the evening, to pay a few dollars to
his antagonist, he feels cross, and is
impatient for the next evening III order
to get his revenge. He is no: one Of
the men who have stumbled into
riches. He has amassed his millions
by foresight and calculation As a
mere boy. after his fathers death, and
his setting Mp for himself as Tie owner
OF :: plrogne running between Staten
island and the city, he felt confident
h. should become prosperous. He
tod an acquaintance, lot long ago,
'Il L corl,i make moucv at { ghteen,
Carrying vegetables u market on RI
cid scow, | knew [ con!d gar rich in
litter lie, # 1 only had my health"
presume lie may think lie las sue
ceeded, though he ni,,y not regard
so, 900, Q0J as rich. Now in his eight
ieth year, he considers himself still
young--and he is so in health, strength
AMI energy. He expects TO live, 1 I'M
ierstand, until he has accumulated at
least round 800, 900, 900 Zone hun
diei milliCnS) in property and Il cen
fury Of age. BY his own estimate he
can achieve the former in five years.
width at !hc f rate OF twenty per cent.
per arnum.
The greater part OF the
ESTATE OF HORACE =. CLARK,
NanderbiIt's son-in-law, has b9cn CT
roneousIy reported rs swept away by
the September panic. The decline on
his stocks and securities was eror-
NOUS, but the Commodore looked af-
ter the property and prevented any
sacrifice Clark heirs will have 81
900. 900 or 81 ,00H, 600, the real value
of the estate at the time Of the death
OF the president Of the Lake Shore
railway, instead of three or four times
that sum. as has been believed
DANIEL DREM
has been set do7,-n rs 4 bankrupt by the
Wall S -eet crisis of last autumn bat
he has not lost enough To hurt him
The old II, thodist sharper, as they
call him on the Exchange, was SUI
premely scared, and has frequently an
nOunced that lie was ruined. This is
a favorite CRY with him, when he wants
to make settlements. or to be ct off
easily. and consequently carries no
weight He failed 10 realize large
amounts which he ccnt;de.,fly expect
ed, and these he counts as positive
losses. He does not enjoy the repu-
tation of a chivai.ous OF an upright adj
yersary IN Broad street ana hence
the suits brought against him by the
brokers. They say he is So unge 1erous
himself that he has 10 right to be
treated with consideration. They
would not have thought OF inStituting
legal proceedings under 'miiar circum-
stances against any operator. Persons
IN !: position to know declare that the
entire financial harm Drew has sus-
tanned from September Is to the pres
cnt would be covered hy $500. 900, aud
that he j. still wo-ti 81, 900, 900 to
IS, DOC, coo.
JAY GOULD
has been consigned by many 10 none
tary perdition during the past three
months. His reported retirement from
the streets WAS deemed indubitable CIV
idence of his failure. Those init
mate with the shrcwd tinancier are
better advised. He has Ills object in
ostensibly withdrawing from the spec
u'ative arena, and its object has been
already obtained. 1t will be rcmem-
bered that he was uacomfortably com
plicated with non-paying New Jersey
Southern and other railway interest,
and 1t accordingly behoovcd him to
bow himself out. BY SO doing he
avoided certain legal responsibilities,
and it is affirmed that things are now
arranged to suit him. Such a man as
he could not keep out Of the excite