The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1876-06-01
KING
Commodore vs%nderbiIt's can, 900, 1000
How He Obtained IL, and What VIII
NJ N. Nl.lsl. Ia

RAILROAD KING
Commodore vsnderbiIt's ssy, 900, 900
-How He Obtained IL, and what viii
He DO with ii
tFrom the Rochester Democrat and Chronicle
The disappointment felt by the pub.
lie in the will of each of the great CAPT.
talists who have lately died leads to
great curiosity concerning that Of the
third, who is still living. Both Astor
and Stewart failed TO answer the lowest
expectation. II Is now said that judge
Hilton intends to carry out some projects
of a beneficent nature in Garden CITY,
but l shall believe this when I see them.
The question which now interests the
public is, what disposition will the
Commodore make of his great estate.
which is by some supposed to exceed
either of the foregoingp The difference
between the Commodore and Stewart
was that the former holds little but
railway stock, while the latter held
nothing of the kind. The property
which one eagerly absorbed the other
entirely eschewed. The Commodore
has in the way of real estate his own
dwelling and stable, worth about SI5,-
900, and TO this may he added the
Church of the Strangers, in which
Deems breaches and which Is worth
$4,000. This is conveyed to Deems
on a life lease at a nominal rent. but il
the preacher die tomorrow it returns
TO its owners possession. In addition
to these is a grand park on Staten Is
land, with a hotel, the whole being
worth 100000 The Commodore may
W some bank stock, but il so neither
the amount o the bank is known. |
do not think he has any thing of the
kind.
Railway property is the Commodore's
specially. When he sold out his ships
he turned all the proceeds into this
shape, No one was allowed to know
the time when the decision was made,
but fully twenty years ago he came to
the conclusion that the prosperity OF
navigation was drawing to a close. AT
that time the Pacific Mail was dividing
twenty per cent. per annum This did
not leave him as it did others. He, no
doubt, saw through the r%ottenness of
the scheme. His view of our falling
marine led him to sell out and buy into
Harlem when its stock was at a low
figure. In 1858 he became the master
OF the road, which paid him so well
that his next attempt was on the Hud-
son River Road. There was an excuse
for this ACKNOWLEDGEMENT, since the roads
were parallel and there had been Il fire.
quent misunderstanding in their man
agcment. At last the public was sur
prised by the announcement that the
fare on the roads would be the same,
and that through tickets on one were
equally good on the other. This show
ed that Vanderbilt controlled the Hud-
son River, but he for a time kept him
self concealed, and placed as a head
piece John NJ. Tobin in the Presidency.
Tobin was a mere tool who once assist
ed tho Commodore in his ferry bust
ness, and then was transferred to the
Hudson River Office. In n few years
Tobin vas set aside, and the Commo-
dore was announced rs President of
both roads.
This step brought him into rivalry
with the Central, whose management
he considered fraudulent. Corning de.
sired to conciliatc the Commodore, who
allowed him to think himself success
full. In 1864 the Vanderbilt interest
came up as an important feature in the
Central. An effort was made to turn
Corning out of the Presidency, and on
this trying occasion Vanderbilt gave
him his influence to the extent of hall
a million of stock. This purchase
showed how rapidly the Commodore
was making money. 1t vas a large
amount of stock than that held by any
on this continent. The next spring
when Corning and his directors made
their annual trip over the road, the
was Il specially invited
guest. Little did these directors think
that they were ven then doomed to
perpetual discharge, but two years from
time he turned them all out as sum-
as though they had been
by the toe of his boot. On
annual election, held December,
1867, only one vote was cast. 1t rep
resented thirteen millions of stock, and
handed in by the sole voter, Cor
nelius Vanderbilt. This made him
of the road. The stock was
not his own, being in part held as
proxy for other men, but it gave him
power. In two years the stock was
"atered, and from twenty-four millions
forty.eight. The immense ac-
of dividends enabled the
to buy stock at the rate of
wo millions a year, and it was not long
before he owned personally the largest
part of the Central. This he CONSOLE
lated with the Hudson River road, thus
orming one line from this city to Buff
alo. Having reached this dignity, it
became necessary for him to control
he Lake Shore, in order to compete
Nth the other lines to Chicago. This
vas accomplished by heavy purchases
# that stock at Il high price, and lIor-
ce F. Clarke was made President. On
is sudden death the Commodore was
mt in his son-in-law's place. The de-
recitation in Lake Shore since then has
cen very heavy. The stock which cost
rom 20 to 80 is now selling at 81, but the
Commodore will not mourn over such
rifles. 1t was necessary for him to
ontrol this road in order to manage the
theirs in a successful manner. Having
btained full mastery of the line, he