Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1876-04-21

The breathin- body Of his boy. '''
st.l sweep the spectres through the sky.
81 scuf The clouds before the storm
81 naked in the bowling night
The red-eyed Lighthouse lifts It's form
thout the world Is wild with rage.
Unkeuueled demons are abroad.
Put with the father and the son
VITA D. there g the peace OF God
The Railroad King.
-AEOH oI CORNTLTUs vANDERBILr-rHR PooF
TFRRlNAN WHO BECAME THE HEAVIEST OWN.
rs of RAILROAD STOCK IN THE WORLD.
From the New York World
The subject Of this sketch is the patriarch
u the great triumyirate of New York million
ares, composed OF Astor, A I. Stewart and
Ilaisr0lt. In 1910, when the grandfa-
,ilr Of the present John Jacob Astor had, at
tie age Of Il, already amassed millions of
dj.ar-, Cornelius Vanderbilt, boy of lG
began his career as captain Of a sail-boai
wt-l used u run from the beach at White
ball 10 staten Island, carrying passengers al
is cents eacn. From that day to this.
through period Of 66 years, Vanderbilt has
been steadily engaged in carrying freight
and passengers. by land and by sea. by steam
ta, and railroad. In 1920 New York con-
tu1ci ,D,OOO inhabitants, and Staten Island
Vanderbilt : native place, was inhabited by
farmers, gardeners and fishermen About
tde year lsl5 Vanderbilt and his brother-in-
law. Cap. De Forrest, launched the Char
.ltte. a c1astIng vessel, noted at the time for
model and speed. In this vessel be coasted
along the southern coasts during the winter
season AS far as South Carolina, bringing yerg
,lu-iierable treights on the return voyage.
il lslI, 10 years after Robert Fulton first
Hlgigatei the waters Of the, Hudson by steam,
Vanderbilt abandoned sailing vessels and
uaaAN "sTEAMBoATING."
lie engaged with Thomas Gibbons. and
was ma he captain of the steamer plving be
tween New York and New Brunswick on the
Philadelphia line. Mrs. Vanderbilt had
charge OF the hotel at New Brunswick, where
the passengers passed the night. 1t had nev-
er previously pad expenses. and was given to
Vanderbilt rent free. Under Mrs Wander
hIt's management il soon became profitable
\ auierblt spent - years of his life in Glib
hIn's employment. In 1929, at the age OF
3j. be wis worth $50 600, and determined to
start for himself The first steamboat he ey-
er haitwls the Ciroline, which finally went
over the Niagara Falls. In those days the bus
iue,s OF steamtoating was in the hands Of
len of wealth aud powerful com panies
Vanderbilt, with comparatively slender means,
found it uphill work but single-handed he
successfully oyercams allopposition, and grad
laliy made his way to
THE CONTROL oI TIE STEAMBOAT INTEREST.
His most formidable opponents were the
Me>srs. Stevens Of Hob0ken. They almost
exhausted his resources, but he finally forced
them toa COMPROMISE 1t was thought at
the time that be- was backed by Gibbons, but
be fought his battles with out assistance
from any quarter, relying entirely on him
-ef, as be has done throughout his whole Ca
Teer. In these pursuits Mr., Vanderbilt ac-
qulred two things. namely, an immense for
tune and the title Of commodore which
has clung TO him ever since. In 1851 he es-
tablishci a line to California via Nicaragua.
In 1862 be presented a new steamer OF :, 900
tons. costing $500 600 the Yanderblt-to
the United States. for which Congress pass
ed a resolution Of thanks. At the time, she
was earning HIM - 900 4 day. His cruise
in the steam Yacht North Star, and his visit
to Russia viii be fresh in the minds Of most
readers Gradually Withdrawing from steam
boats, he
INrETED Is RAILROADS,
and is now the largest holder Of railroad
stocks and bonds in this country, if not in
the world. lie bought almost the whole
stock Of the Harlem road, at nominal prices,
much to the surprise Of knowing ones on the
street When he and his friends went over
% that foreign land called New Jersey and
bought the New jersey railroad, it was com
uaratiyely w0rthless-lt has since become one
of the most valuable stocks on the list. Mr.
Vanderbilt likewise acquired the control Of
the Lake Shore and Michigan Southern rail
roai. [ Edcr his management the New York
Central railroad company and the Hudson
River railroad company were .consolid ated by
an act passed Nav 20, 1869. The terms of
consolidation were ratified by a vote of the
stockholders of each company October | 1869.
Mr.. Vanderbilt by a stroke Of the pen, crea-
ted on December 70, 1868, an additional cap
itai Of S23, ,O36 600 TO the then stock OF the
New York Central railroad, by issuing inter
est certificates rated As stock, which now
forms part of the 800 900 900 capitalistock
Of the New YORK Central and Hudson River
railroad Take
RETROSPECTIVE GLANCE
at the prices of these valuable securities
some Is years Q 60 and see how they compare
with present quotations Ii nav sssist in re
derbilt fortune has swollen TO be one Of the
great fortunes Of the world. On January g.,
1855, New YORK Central railroad stock was
selling at - l.. in the market, while Harlem
railroad stock was going begging at IA.
After that Central went to par and above,
and that par valuation has been watered to
the ex tent Of 50 per cent, and the stock SO
watered is now. after its consolidation with
II : - ! lof
while the consolidated first mortgage bonds Of
the same road are selling at l22 at 1913. HaI-
lem stock is to-day worth l42 to l43. The
able management which has characterized
IRE ADMINISTRATION or The VANDERBILT ROADS
has much, but not all, to do in the matter of
these increased values. The tonnage of all
the railroads of the United States for 1871
did not exceed ) 600 900 tons. The total
earnings from freight transportation that
year did not exceed 81, 600, 900. In lo6g
the tonnage of all our railroads exceed lO0,-
UOO0O0 tons, and their earnings from this
source e1ualed $500 600 900. While this
vast commerce has been wholly creation OF
railroads, it has in its turn reacted on and
given additional value to railroad property.
Mr. Vanderbilt controls the chief Of the four
great trunk lines between Chicago and New
York 4 combination of the four men rep
resenting these lines may at any moment re
duce the value of property in this country by
hundreds Of millions of dolars-an additional
charge of five cents per bushel on the trans
p0rtation of cereals would have been equIva-
lent to a tax of Sj5, 600 600 on the crop OF
1875. In 1864 Mr.. Vanderbilt reported his
income to the United States internal revenue
commissioner at very nearly three-quarters
ofa million. In 1865
HIS FORTUNE
was estimated at S4O, 900, 600 To-day those
who are most familiar with his affairs rate
him at from so 600 900 10 $50 ,000, 900.
Ii is understood that the bulk of his fortune
will 20 to his son, William II. Vanderbilt,
who relieves his father from the active cares
and burden Of business. There was recently
report in circulation, both on the street and
al the clubs. TO the effect that the commo-
d0re had already made over o''William a
sum of $50 coo 900 in stocks and bonds. Mr.
Vanderbilt Is cut out from the wood oil when
great men are made; he would have excelled
IN any walk of life There was in him the
making of great soldier or great states
man. Personally be is one of the hsndsom-
est men of his time. Even now at the age oi
- be stands erect, and commands respect by
his presence alone. He is not given to con-
yersation, being rather listener than talk
er, and has power Of will and determine
ton of purpose which carries down before
him all obstacles.
HIS MARRIAGE.
Mr. Vanderbilt first married. in lol3 MIS-
Sophia johnson, the daughter OF nslg hool
living near his father farm on Staten Island
She bore him l3 children. After her dealt
he married second time, at the age oil 10
young lady from the south, some 40 year
younger than himself The "old man
looks hale, hearty and well, drives out every
fine afternoon behind fast pair OF horses
and handles the ribbons as well as he eve
: IL l;.rht WaQnI