The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-01-05
Deati, OF Councillors Vanderbilt. !

IL .O,CIOck. c1T. Y Auuck puI Nao Ooi hSssA
the present Stapleton, Staten Island, N. Y,
MAY 81, 1894. he was averse to education,
and ut the age of sixteen he bought boat,
with which he piled between the island and
New York. At eighteen he owned two
boats and was captain Of third. At
| nineteen he married, removed to New
York, and bought boats, sloops, and
schooners; and at twenty-three he
was free from debt and worth $4,000.
In 1917 he assisted Thomas Gibbons
| In building the first steamboat ever run
| between New York and New Brunswick,
n. j., and became captain Of her at salary
| of 81. 900 q year. In 1918 he took command
Of much larger and better boat on the
same line-his wife, at the same time, keep
| ing the hotel at New Brunswick, and
making much money.
In 1924 Vanderbilt had full control OF
| the Gibbons Line, and brought it up to pay
ing S40,0 900 year. In 1927, while still super
| intending the Philadelphia route, he leased
for fourteen years the ferry between New
York and Elizabethport, n. j., put on new
boats, and made it very profitable.
Tn 1929 he left Gibbons, and in the fol-
lowing nineteen years, till 1s4s, he built
and operated steamboats, on the Hudson, on
| Long Island sound, on the route to Boston,
and on the Delaware from iBordentown to
Philadelphia. He would put on new and
| superior boats in opposition to an old line,
| till he was bought off or drove off his COM
pctitors, so that he had the monopoly and
| profits. In 1889 he built the steamship
Prometheus, in which, in 1850, he sailed for
the Isthmus of Darien. He mad already
purchased controlling interest in the
American and Pacific Ship. Canal Company,
which projected canal across the Isthmus;
| but for this scheme Vanderbilt substituted
transit route from Greytown, at the mouth
Of the San Juan, to San Juan del Sur, on
the Pacific, which had the advantage over
the old transit from Chaprer to Panama OF
| saving seven hundred miles between the
New York and San Francisco side, and four
on the Pacific side, and went into competition
with the United States and the Pacific Mail
| Companies. In 1852, with three more
steamers, he started branch line from New
| Orleans to GreytoWn. In 1853 he went to
Europe in his steam-yacht North Star, and
while be was abroad G.. Il. Garrison and
Morgan, holding q large amount OF the
transit stock, threw him out OF the manage
ment. On his return he organized an OPP
position line to Morgan's between New
Orleans and Galveston, and in 1854
established an independent line between
New York and Aspinwall steamers on
the Pacific side to compete with the
Pacific Mail Line. He soon compelled
compromise, and once more held the con-
troll of the Transit Company. In 1856, Will
liam Walkers, then ruling in Nicaragua,
seized the property OF the Transit Company,
and Vanderbilt, with the assistance Of Costa
RIGA, fomented an instruction which eN-
Delled Walker. The bar at the mouth OF the
San Juan rendered approach to Greytown
difficult, which led to the abandonment
OF the transit business. In April, 1856,
Vanderbilt received a large subsidy for
withdrawing his California line, the field
not affording profit for two companies. His
iudeDendent trans Atlantic line, started IN
1855, was abandoned in 1851 by the with
draWal of the Vanderbilt-a steamer costing
$500, OOO-which Vanderbilt gave to the
Government on the outbreak OF the civil
war, During his steamship career he owned
tvefNy-one steamers, eleven OF which he
built, and, with steamboats,, his entire steam
| fleet numbered sixty-siX; and for many
years he had been popularity known as the
Commodore"
When he abandoned the water, in 1864,
his accumulations were estimated at S4O,-
| 100000. AS early as 1874 he had become
largely interested in the New York and
New Haven railroad, and in 1916 he began
to buy the stock Of the Harlem railroad,
and in 1864 held the whole OF 1t. In 1859
and subsequently he invested several mil
lions in the mortgage bonds OF the Erie
road. Soon after coming into possession OF
| the Harlem road he secured controlling
interest in the Hudson River and New
| York Central railroads, and consolidated
| the two. Since 1873 the Lake Shore
and Michigan Southern railroad has been
operated in conjunction with the New
| York Central and Hudson River roads, and
one continuous route, 97S miles in extent,
and, with the Harlem and side lines and
| branches, presenting an aggregate OF lis
miles subject to one management, repre-
senting an aggregate capital of S149, 600, 900,
half Of which is said to belong to Wander
bilt and his family. He has given liberal
sum OF money for education in the South.
A few years ago Commodore Vanderbilt
richly endowed the university in Tennessee
which bears his name.
DEATH WITHOUT sTRUGGLE-HIs LAST NO.
MENTs-THE FUNERAL TO TAKE PLACE ON
SUNDAY MORNING.
NEW YORK, January 4.-For the last few
DAYS Commodore Vanderbiit's physicians
have been hourly expecting his death. He
died almost without struggle. The change
| for the worse took place in his condition
about O'Clock this morning, and he ex-
| pressed desire to see Rev. DR.. Deems, his
spiritual adviser. The latter was soon pre-
sent, and the Commodore said to him,
think am nearly gone, Doctor" Or.
Deems prayed, and the members OF the FAM
ily who were present sang hymn. His
physicians were at the dying mans bed.
side, and did all that medical aid could sug-
gest to make his last moments peaceful. The
funeral will take place on Sunday morning.
THE coMMoDoRE's SECURITIES.
NEW YORK, January 4.-Vanderbilt was
the owner of securities having the present
market value OF $S5,0O0,000, and Of this
total fully 100000 consisted OF stock
and bonds of the New York Central and
Hudson River railroads. 1t is understood
that the bulk Of this vast property is to be
kept together, and provisions have been
made for relnvesting the accruing interest
on it in his favorite securities.
THE NEW YORK NORTH CAROLINA BoNDHoLD-
Frs IN CoUNCIL-A REIMBURSEMENT OF THE
DEBT ASKED FOR. ...''..
NEW YORK, January AT meeting OF
the North Carolina bondholders to-day
resolution was passed authorizing the ap-
pointment OF committee OF arbiters be-
tween the State Of North Carolina and the
holders OF its bonds, and that they be au-
thorized for and on behalf the bondholders
to take such action as they deem wise 10
secure il possible readjustment OF the
debt of the State of North Carolina upon
basis that shall be equally conslderate ana