Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1877-01-19
Cornelius vanderbiIt.

1904, the son of farmer, and received only
a common school education. When six
te en- years of age, by bis mothers aid, he
bought small boat which he used protita-
bly, in barbor transportation. In Decem-
Der, 1918, when nineteen years old, be mar
ried Miss Sophie Richmond OF Staten
Islan d, and their welded life covered ffly-
three years. He obtained from the govern
ment in the spring OF 1914 a contract for
the transportation OF provision 10 all the
forts in the bay for three months, and this
compelled him 10 carry the provisions In
the night time IL he would not lose his fer
riage There were six forts, each Of which
received its provisions once a week, so that
during these three months his only night
of unbroken rest was on Sunday. The
profits of those nights enabled him TO build
a little schooner for the cOasting trade. Sub
seq uently he went into the cOasting trade
to the CsrOlinas, but, foreseeing the superb
| ority of steamer vessels, in 1917, having
disposed OF his interest in the coasing
trade, be entered the service of Thomas
Gibbons, the proprietor OF the line Of steam
ers running between New York and Phil
adelpbia. His wonderful tact in the man
agement was soon exhibited, and he ac-
quired the sum of $4,000 in twelve years.
He WAS continually studying the problem
of navigation and mastering the principles
of boat construction.
Seeing that the business between New
York and Philadelphia did not offer the
widest field for enterprise, In the spring OF
1880 he appeared as a rival 10 the great cap
| itaists who controlled the Sound aud Hud-
son steam navigation. His perseverance
| and business abilities made him successful,
and after strong fight his chief antagonist,
Stevens, surrendered. Vanderbilt began
TO build magnificent boats for the Hudson
in opposition to Daniel Drew, who, after a
short contest, surrendered to him, and
transferred his boats TO the Sound. As
time went by, the traffic increased, and
Drew united Vanderbilt with himself in
the Sound traffic, which then began to as
sumo great proportions. From his exten-
sive operations at this time, he acquir-
| ed the nick name OF Commodore" !"
| and il Is as "Commodore Vanderbilt that
be has ever been known TO the public.
Vanderbirs boats became known as the
best on the Sound, both for speed, conven-
fence for passengers and freight capacity.
The next epoch of importance in Van
derbilts life was consequent upon the Cali
| fornia gold discoveries. The Pacific Mail
Steamship Company began to run its
steamers in 1s4s, and in ls49 the Panama
railroad was begun. Commodore Wander
bilt the same year obtained a charter from
/ tnatnlf ola
mai ana transit company. The former
grant fell into allegiance, but the latter was
Immediately utilized. Iu July, 1851, the
new line was formally opened, and such
were its intrinsic advantages that it at once
became a formidable rival OF the Panama
route. During he time that Commodore
| Vanderbilt was connected with il he reaped
from it very great profits.
In 1853 he sold out his entire interest TO
the Transit Company, built magnificent
steam yacht for himself of 1000 tons, the
North Star, and in il he took a long trip to
Europe with his wife and family of twelve
| children. On his return hs established a
new line of steamers between New York
and HavTe, pntting on the fastest steamers
then known, among them being the Ariel,
the Harvest Queen and the Wander bilt.
The laIler cost 100000 in gold, registered
5000 tons, and embodied the perfection OF
shipbuilders' art. He subsequently gave
the steamer, afler fitting her up, TO the
Uniled States government. A resolution
of thanks was passed by Congress aud ap-
proved by the President, and gold medal
presented to Mr.. Vanderbilt TO commemo-
rate the gin.
With his money invested in shipbuild-
ing Commodore Vanderbilt was anxious to
forecast the probable result of the war up
on American commerce. He determ ined
that ii would be best to sell out his marine
interests, and in 1868 he arranged with
Messrs. Allen, C. X. Garrison and Wheel
er, that they should buy his steamers for
$1,000, 900, 81, 1,OOO, 900 down, the remainder
in amounts as the ships earned them. In
eighteen months they had wiped out the
Indebtedness. Although at this time about
seventy years old, when most men of his
wealth would doubtless think of retiring
from business, the vigorous Commodore
began putting his wealth into railroad in
vestments. He first bought up all the
Harlem stock in Wall street, and among
others squeezed" by his operations was
Daniel Drew to the amount OF a million
doAars. Vanderbilt instituted reforms in
the management of the road, and made il
paying investment. After this he went
into The market again, and bought largely
OF Hudson river stock, which at that time
was worth about 25. He soon obtained con-
troll OF the road, and lEpught it mp to 8
| oxgfn condition Y.kdoOt, Dfuae ha1
war with The New York Central and Alba
ny boats, In which, of course the Commo.
dore won. He likewise acquired the con.
troll of the Lake Shore aud Michigan South
ern railroad. Under his management the
New York Central railroad company anC
the New York Hudson River railroad com
pany were consolidated by an act passed
May 20, 1859. The terms of consolidation
were ratified by a vote of the stockholder
of each com pany October l, 1869. Mr.. Van
derbilt, by a stroke of the pen, created oil
the 10th Of December, 1868, an additiona
capital of s23, ,OS6, 900 to the then stock o
! the New York Central railroad, by issuini
interest certificates rated as stock.
The improvements in the New Yorl
/ Ce ntral by which its carrying capacity ha
been doubled, and the great engineerin
1 work through which the Hudson Rive
t road enters New York city, are fresh in til
= minds of business men. His son Wlhian
s succeeds to the management, and the con
3 troll Of the roads is expected TO remain Il
: the family. In late years the Comnodor
I has gradually withdrawn from heavy re
sponsibilitles. and enjoyed his home an
family. He had thirteen children by hi
T. nrst wife, and amer her death he marie
= again, August 20, 1869, Miss Frank A
- NEoIia aha, ;rlx x,aa