The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1877-01-10
OBITUARY..
Cornelius Vanderbilt.

Cornelius Vanderbilt.
After succession of false alarms, the teie-
graph at last brings Us definite announce
ment of the death of the feeble invalid.
whose fluctuating health has so long kept
the New York stock market in a state of
tremor. Though possibly not the richest
man in America, Cornelius Vanderbilts
wealth was 90 invested and business re-
lations so extensive as to make him,
from commercial point of view, decidedly
the most important parsonage in this coun-
try. The life of this important parsonage
has been Enthusiastically American, and of
the most exaggerated type. It's record IS
that of a progress in two-thiros OF a century
from humble, if not extreme. poverty to fab
ulous wealth by means of extraordinary
business talent, phenomenal shrewdness, ex-
ceptional energy and an unfailing capacity
and willingness to seize any opportunity 10
advance his own interest. without the closest
regard TO scruples of conscience Commenc-
ing as a small proprietor of ferry line he
died the controlling power in the heaviest
railroad corporation in the United States
To go into the events of his life little more
in detail. He wac born in 1894. and COM
menced life as an operator of a New y ork
ferry line at very early age. Soon he ex-
tended his maratime interests, and in 1871
he became captain of q steamerin the inn
pOrtant line between New York and New
Brunswick. Seven years later he had full
control OF this line, and under his skillful and
energetic management 1T paid enormous
profits. This was the beginning of his ae-
quiring very large interests in steamboat
lines. In the ensuing 20 years several i'm
portant and paying local lines came into his
hands In 1s49 he became interested il the
Panama ship canal company, and from then
till the outbreak of the war he continued
10 operate various California lines making
enormous sums of money. The breaking
r Il.
decline of the marine shipping interest
everywhere caused his various lines TO be
too little lucrative 10 satisfy the require
ments of his spreading commercial ambition,
and he gradually abandoned his steamboat
lines, disposing of the last in 1854
At this time his fortune was estimated at
$40, 600 900. and he had at various
times during his marine career owned
66 different boats. The title of
commodore, gained at this time mas
chung to him ever since. With this turning
bis back upon maratime traffic begins rev
era IN the life of Mr.. Vanderbilt The vast
fund of energy, business talent and keen
capacity for money getting thus set free was
Immediately turned in another direction,
and from absorbing all the paying steamboat
lines within his reach, Vanderbilt COM
menced capturing the most profitable pay
ing railroad lines in the country
and by his skillful management
years before, he had acquired an interest in
the Harlem and New Haven roads, which he
added to until he controlled them. Soon
after 1854 he obtained controlling interests
in the New York Central and Hudson River
roads, when he consolidated all the roads in
his control. In 1873 he captured the Lake
Shore road and consolidated Ii with the
others, thus giving him an uninterrupted
line from New York TO the West and
making him the most powerful railroad
magnate in the country. He controlled in
all more than 1000 miles of first class road,
most of il double and some quadruple
track, representing an aggregate cap
personal wealth is estimated at
SIS, 600, 600. of which some 5000 600 is
in railroad shares. The vast interests under
his control will not be materially influenced
by his death, which has been so long ex-
pected and carefully prepared for that it
caused scarcely ripple in even the sensi-
tive stock market Many of his interests
have already been transferred to his sons
and the rest will pass there quietly without
causing any appreciable disturbance. Com
modore Vanderbilt leaves a second wife,
much Younger than himself and several
sons, who seem to have inherited his correct
habits and taste for business, if not all his
capacity. Although Mr.. Vanderbilt's whole
career has been devoted to q passion
for business and money getting, with
seemingly no other object In life,
he seems to have felt constrained in one in
| stance to yield to the prevailing conven-
tional idea that man of great wealth must
invest portion in some public or benevo-
| lent enterprise. In 1873 he founded Van
derbilt university at Nashville, and at that
time and since has bestowed upon the in
stitution sums amounting to S7O0Oe0. OF
all the investments he has ever made, il
may be questioned whether any will pur-
chase him such lasting remembrance as this.
| In the field where he has labored and strug-
gled 80 desperately he will be succeeded by
| other railroad kings and business magnates
and his name will, before many years, cease
| to be even a memory, while the great uni
versity which he has bestowed il viii
keep it green and fresh while our American
civilization endures.