The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1875-12-23
Mr.. AstOr'S Business Habits.

THE New York correspondent OF the
Cincinnati Gazette, who claims to have
been for thirty years an acquaintance of
the late William B. Astor, writes:
The Astors, father and son, lived each
eighty five years, and their benefactions
thus far are little more than the library,
which cost less than the legacy inherited
by VIM. B. Astor from his uncle, the
butcher. 1t was urged by Astor that his
money was his own, and that people had
no right to complain at his refusing TO
adopt liberal course of conduct. This
is correct in a legal sense. A man may
do as he will with his own, providing he
does not transgress the law, and there is
no statute against COvetOusneSs outside OF
the Scriptures; but the common sense Of
mankind unites in this verdict that So
Cicty has right to expect degree Of
beneficence from the rich corresponding
with their wealth. Such is the general
propricty of the sentiment that it inspires
Virgil, who describes in the sixth book
of the Eneid, among the wretched inhab-
itants of Tartarus, various grades of GRIM
inals, such as robbers, etc, among whom
are att qu5 digitits soyi ancubuere repertts,
which may be translated: "Those who
brooded over their boarded wealth. "
Such was the occupation of the late cap
italiSt. His fear Of being overrcached
gave him frequent distress. Thirty years
ago he desired to enlarge the Astor House,
and proposed purchasing lots in the rear,
but when the price was mentioned he ex-
claimed: "Too high" and declined the
opportunity He lived to see those lots
| double in value, and the enlargement was
never made.
The greatest capitalist in America was
in all points but tenacity mere negation.
Like a sponge on a rock, to bloat, TO abb
sorb, to die, was his entire destiny. In
no point was he united with the race out
side of his family. He belonged to moth
ing, not even church nor a political
party He was not in need of society.
| He sought not friends and possessed none
| He had no expensive tastes. Fine horses,
fine pictures and works of art generally
were not in his line. He was of low
might minister to refined nature was
within his reach he turned from it. His
frame was large and healthy, and he lived
on, fulfilling his great purpose to be the
richest man in America. This was his
only positive point Of character-all else
being negative, even to the emotional ma
ture never heard of his getting into a
passion. He was too stolid for that. The
only thing that could affect him was un-
productive property, and this must have
of late occasioncd much annoyance.
About seventeen houses are now vacant,
the tenants having been driven away by
extortionate rent. In addition to this il
may be said that one house which he
priced at $4,000 stood empty three
months and has lately been let at $1,000
This dreadful state of things has beer
felt, and no doubt, in addition to old age
hastened his death. 1t was a new anC
unexpected misfortune at his late periot
in life to be obliged to reduce rent.
Mr.. Astor seldom lent money on bono
and mortgage, because the record woulc
lead to taxation. He seldom bought rea
estate, because it was dear. His enor
nous income was invested in building OF
his lots, and also in first-Class stocks. Ii
this manner he laid up more than ST ,OOt
per day. His rents were deposited in th'
Gallatin National Bank, and he Away
had IA heavy balance, which enabled hin
to be always investing.
With cautious prudence put his gains to use,
Inquring always, what will this produce?
In former days he omitted insuring hi
property, but of late he found that it coul'
be added to the rent, and acted on thi
idea. He became large stakeholder il
one of the most successful companies il
the city, and gave it his enormous busi
ness, which, after all, was but anothe
method of insuring himself. There
something surprising in the good lucl
which has followed this family. Ho1
strange that almost all of John Jaco
Astor's purchases should be in spot
which either business or fashion shout
afterward select as their chief resorts. Ol
the east side of the city real estate has nc
advanced in half century, but Asto
owns nothing there. 1t SO happens tina
his forty acres (bought when it was com
mons) should be the subsequent scene c
opulence and traffic or of social rank. A
far as this world is concerned it woul
seem that charm has worked continual
in favor of this man IN order to gratlf
his ambition to be the richest man
America.
, in his speech at the Lotos Club
New York the other night, Lord Hougi
t ton said America was eminent for til
e beauty of her women. At his time OF lii
e he was no fair witness on that subject, bl
he would offer the more valuable tsstimt
!. ny of his son, young man Of some talel
] and perception, of seventeen years OF ag
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