New-York tribune., 1876-08-05
years The city tax on this valuation OF s5'ooOVoV WI"
probably be not less than 100000
w.rr STREET. PEurIeCENCr .


FONDNESs FOR FAST HORSES.
Tho following reminiS .encas and incidents Oh
,o carcer of Mr. Vanderbilt in WI!lSt. OF us N"'N
financial operations which combined 10 n'.'~'' g."
wealth and make him power on tAe 'She'" "' '~'
nishcd ty a wen known operator; 80.
NV debut in wall-st IN 1883, ana MT N"o"'t''''
ha, cons INTO the street long before my time The n'st
transaction which can rccoilcct thal he was m'nu."
with WAS the Norwica cnd Worcester Railway He m"ao
ono of his customary operat;oushJyug the stock al
"co-pcrius"it The next Is the Nicaragua transit bus
ness That is matter Of history t Is m The records OF
the counts here. Tutro Ouy one mon who ever
fought the Conmodocc 70 tue eul-he was J'f'm"A
Hamilton. The Commodore was made receiver OF 'h'
Niearaxua Transit Comrany after hallns' the STOCK
from 80 to loo III few days Hamilton
fought Rim In the courts unl he eo' u
settlement The Commodore respected hu-hc Gii not
ear Lim because he never feared anybody He respect
ell Hauiltun's Versis,cucy IN hghtinS hun. Ih"t
Nicaragua business has never been settled yet III If
curious thing that nobody has ever followed it up
Between that time and 1861 the Commodore became
possessed Of large amounts Of bonds Of railway COM
pauiys, among them many OF the Harlem boics' lie
also figured in the Schuyler frauds, which at one time
acita:eG Walst having loaned very large am0nn; oi
money 70 SCHUYLER on the ovcTssucd stock OF tie New
York aud New-Iaven Railroad, Atthat time he also had
large euount Of bonds of that railroad company IEc
company fought him the ovcrsSue of that stock ana
in 1866 L was aLally decided IN his favor the company
being held responsible the Of these secui
Tics TO schuyler The Commodore held a large quantity
of NcwYoT Central bonds and his Harlem bonds were
so numerous that he had them bound in books These
were fixed securities, and put away. In 1850 hls
operations were very sVasmodic IN Wa'fst' ana con-
nued up 1862 or the carly part OF 1868 wien lac
began To take active interest in tde ADMINISTRATORS "l
the Harlem Railroad. This railroad had riSht o'rap'
transit through this city IL appears and this was ds'oF-
cred hy Horace L. Clark. who took an interest aud
operated in the roads securities very largely rc'"
lcct about that time that r l. CuttIag ST. was MT VAN
der'ts broker; also \. Is. Bayls and others l"' ''
modore mad gone into Harlem somewhat he"Nly' ana
eating said, " II you let me speaN 10 so"e ono
ON the street we viii bring tais 60 par The Commodore
said. "Dou't open your head 20 auy body; rs Tor
putting il TO par can do that myself aud good dc"
bi-be." Jus, about th0; t,ue tLC Board of Aldermen
nassc an ordinance affecting the Harlem Railroad ana
operators tried % sell e stock short The Jcomes were
in that. aut the Commodore stepped in and broke
them up
Taa, brings his career along until about inc thh 81
IsS and the ur,t part Of Ie64. when the Harlem cor
uer was drs. brought ul John Tooin. p-otesc Of
tie Comm, Gurt show c the Commodore how much Ha-
lem stock e had calls, how much Be had loaned out
70 the street. and how much stock he had IN the seVtI"
brokers oalccs Then Mr. Vanderbilt proceeded A.s
arrauccm uts with To6in aud took hI-e-pcrhai- inc
Iar-esintccs in that John IcJ!n hc!ar ~" man
who executed the dciso the operations N IL" sirr"t
Toun selected Jerome Riggs Co. a. the house inf"rth
wlch theil business should be done IE inn cfieao4t
his instructions Joseph Harkcf. another personal
friend Of Vanderbilt had iarge amount oi Harlem STOCK
at that time H. stock Locked up by order oI thc
Commodore; Iosr ~ei.' through the street and got
house. - caiIy il. D1-Il2 al nc the famous MORSE
,uir o. as e I-ss. q, -.d, tht time when sccrc-
tary Clase ,g.5 god uID1 ja5 @ew-Icsk gold naf~ei
eycAangeabc only fOf gr.sfl ."hG Harlem infn''hr"
IT, price le. oines rlC.k oIwn 30 Or 90 per cont
Jo'dr I1d y'A c then pIomin st0c1 mouse "I i''h-
wood a, Coz On bJycf's option about 4cOO shares OF
Harlem Tfcy were carrying IL inr him as 10y an agree
Ipeut When the corucr :ipe, Tcbn called toi The
stock and Lockwood * Co. said that they would deliver
II to him 5ut did rot come. The next day ne went '"
them aud said We'll you say money - very nsh ana
Won cannot borrow on this stock; viii take II away;
| want the stock to-day, and must nave IL.
The stock, as Vanderbilt aud IoDn Knew
Cd not come in and lockwood H. CO. were compelled to
send out on the street and huy il in Tie Vanderbilt
partv had even then 70 sell the stock md ho snc cer
tifcates went from the office Of jerome, Rig" d co..
Vanderblts brokers, 10 Locsw &c Co.. and ihcr rt
turned again 20 Jerome Riggs Co., ths 'LoNne th"'
Lockwood Co. had sold tho stock shcrt and were not
carving il as they represented The corner squeezed
large Dumbc. Of the largest operators The NaHdei"'
far,y marked NJ the stock as hsh a. they ihonr eo
p.e would stand IT. They marSed up to 200, sad The
victims had 10 walk up and settle
IDENTIFICATION WITH RANROADi.
That left dr Vanderbilt in possession ~ me hnlt
OF the stock. TLis the h;st oroa'i"H ~ Tie
street, think, where he became tIoior'hy ldehih'l
with any railroad property l the country a manager
and director don't know whether or no, holding 20
and selling the money that was 10 be 10
rived from !; drew his attention to railroad
properties, bat he began 70 sth ou; h- 81. an-AI'
property and TO buy Hudson RIVER ha!f"ad t'ost
without any margin Leonard Jerome was Largely i'll
tercs:ed. cannot say whether he took It of Leonard
.fl mt. ne
dent Of the HUI Ison River Railroad Company, ktcpn-
himself III the BACKGROUND. Although II was known IN
tie street that he was behind all tae operations ~ h-
road be did not identify himself with them pIbtIy as
he had Immediately preceding with Harlem Ailrl the
Hudson River Road had demonstrated to hun that ~
was an immense property, and that great r'vcnues could
be derived from H. he began 10 buy New-foGk '"htIa.
taking ii of M Keeps hands, and h TOOK u grad ldlY
from Nh Keep while the Latter was selling It, telei
CO." Keep. although President Of tue IOad, was
a great hear in the stock. by order oi
vanderbilt some went TO Keep and banteIcc hi'h
abou. his sales of NcwYUTk Central and tried 10 ba se
him into large sale Of the stock and finally, AZ If II was
n buGo bid for 100000 shares. seller co. while Mr.
Keen was talking with him. Keep did not put his head
into the lions mouth If hc had sold that 100000
shares Of stock il would through tho mdn?daiions OF
vanderbilt and lis friends, have cost aiIn r-OoOoVO
Mr. Vanderbilt kept acquiring SewYorS Central stock
Finally there was an open let a.. addressed hun by the
brokers and holders OF that STOCK, asking him be Woid
not be Kind enough to take tls prc.dency. 1 presum"
he had concluded 20 do that already, Gld wanted hat
letter to afford him pIetext for taking control.
There was at that time $2S, 100000 OF tn
stock He did not half or even controlling interest
but he represented by proxy many Newl"rN hold.f',
aud made his appearance at the annual election with
majority Of the stock IN his favor. The night before il
was understood nat he 10 be elected. TIC -apcrin
tcndent Of the road IN his parlor, ana William H.
Vanderbilt and others presented TO him. Tie latter
was reading to the CommOdOrcs som list OF the en-
ploy6s and their duties. and among Others hc read Oh