New-York tribune., 1877-01-05

dore returned to New-YOrk after a voyage Of $1,000
miles. As the steamer passed up the barbor hs
stopped at the beautiful little cottage which he had
built for his aged mother, and PAID her hi, frat
greetings shore.
Soon after his return he informed the Postmaster.
| General that the facilities of communication be-
tween Europe and America fell far short of the de-
mands of trade. He offered 10 a sem-monthly
line to England, alternating with the Collins line
and providing for weekly departures. The Govern.
.ment did not accede TO his proposition and a. hs
was unwilling to abandon the project he undertook
to carry il ont himself He built the Ariel, the Van
derbilt, and other steamships, and in 1858 estab-
lished an Independent line to TIayre. In the con-
tests of speed which took place between vessels Of
different lines the Vanderbilt made the quickest
A GIFT TO THE GOyERNNENT
This was tho splendid vessel which Commodore
Vanderbilt gave TO the Government in 1859, when
the demand for transports was most urgent. In
offering the steamship to Secretary Wclles no
wrote: 81 am induced to make this communication
because OF my desire Of protecting the Government
against speculative attempts, and also TO make il
known that there are vessels Of a capacity 10 meet
al the requirements. without resorting to vessels
belonging to the sO-calDed Confederate States or 70
those sailing under foreign flag" It had cost him
vessel was not used as . transport II was provided
with ram, and its engines were protected by cot
ton bales and it rendered excellent service during
the war in tracking the Alabama and otherwise
Congress gave Mr. Vanderbilt q gold medal bearing
his likeness and the words, a grateful couutry 10
her generous son."
Besides the Vanderbilt the Commodore had bnilt
during these years the PFOinetheus, Daniel Webster
Star Of the West Northern Light, North star, Gra-
nada, Ariel, Ocean Queen, Galveston, Opelousas
Magnolia. Maagorla, Champion. Costa Riea Port
Jackson, and New-York. These were constructed
for his own use and were employed m his service
From first 20 last he owned wholly in part over
100 steam vessels. When be abandoned the wafer
his fortune was estimated at $40 100000.
VANDERBILT'S RAILROAD CAREER
When Robert Fulton made his first trip up the
Hudson on board the Clcmont in 1907. Vanderbilt
was a lad of thirteen. When George Stephenson
drove his Grst locomotive from Manchester TO Liver
pool, in 1929, Capt. Vanderbilt was building his
first steamboat, the Caroline. Midway between these
two inventions, in 1918, he had begun his apprrn-
ticeshipin the steamboat business captain Of the
Bellona. In 1857 he began 10 sell bis steamships
and 70 invest in railroad stocks H. had read the
signs of the times and learned that in the era Of
steam. for which Fulton and Stephenson had pre-
pared the way. the locomotive was a greater power
than the plfldle-Yhcel.
Among the Commod0re's earliest Wa-st. opera
tions was corner in Norwich and Worcester and "a
fierce struggle with jeremiah Hamilton for the
troll If the Nicaragua Transit Company. The stock
ran from % 10 100 in few days. Beaten on "the
street." Sir. Hamilton took refuge in the courts, and
an inCerninabe litigation the result The over
issue of New-York and New-Hayen stork 10 Mr.
schuyler led to another tedious litigation which
finally settled in his favor. In these proceedings.
well n, in The famous Erie suits in which Judge
Barnard 20 his rescue and saved him from ruin.
Commodore Vanderbilt learned how easy was the
descent from the Stock EXchange to the Court
House. Thomas Bras,ey once said: q" | never had
but one regular lawsuit, and that was Ilnst my
syill: but was obliged to submit 10 il, as he'd
partner. IN nineteen ont Of twenty You either
gain nothing at all, or what you do gain does not
compensate you for the worry and anxiety the law
suit OCCASIONS yOu." Commodore Vanderbilts eX-
perience was very Il ierent; his law bill, were inn
4iense. Bat he had httle respect for ihe law.
"Laww he exclainelOne dly when he was ADVISED
10 get ''the law of a certain matter, why lave
thc porer already"
The Commodore bought his Harlem stock for a
song IN 1850 it was worth eight or nine dollars Il
share. In 1853, when he elected President it
had risen 20 80. In July of that year il quoted
This was the Harlem corner" which John Tobn
and Leonard jerome planned together The next
wear the Commodore adopted The same tartics. and
stock which had been sold in January at 80 was
settled for in June at 2s5. In one of these "cor-
ners." Mr. Drew is said to have surrendered half
a million 10 his great rival.
RAILROAD POLICY
The superiority of Mr. NandcrbltS railroad mani
agAnent soon became manifest His irSt effort " ~
10 make the road pay dividends and he succeeded.
Hi, next aim was to shat OF competition. Opposi-
ton lines had lost their charm for him He deter
mined TO buy the Hudson River Railroad, and TO
equalize freight and passenger rates between tho
two lines The stock was bought at par or above
in 1861: after he secured control OF the road he
turued ont John Tobin. who had been President.
Under the Commodorc's presidency the road was
Jonbla-tmcked the freight depot in St. Johns
Park was built, and steel rails were laid. In
1867 he entered into the management Of the
New.York Central having taken the stock ont OF
Henry Keeps hands when 1t was selling at % or 9s
IN the same year the Hudson River Bridge at Albany
WAS buiIt The Commodore pat down steel rails on
the Central and introduce! many improvements
scrip dividend of 50 per cent was declared IN De-
ccmber 1868. II was authorized on saturday night
M Horace f. Clark's house, and on Monday the
stock rose % per cent Before the declaration
OF the 80 per cent scrip dividend tie commodore
took counsel Of Mr.. Chester ". Chapiu, aud pT0ba-
bis If 40 one else. Having examined the plan. hr
Chapln remarks, Commodore, this is pretty large
scheme, but | doubt if yOu can continue 10 pas )
per cent dividend on the increased capital How
much can we payW says the Commodore " FER
haps per cent" is the reply. well says the
Commodore. "that is enough for any investor who
obtains his capital us easily as this The Com
-. IL. .fta,i