Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1877-01-17
THE DEAD CREsUS.

Cornelius VanderOIlt was porn at
Stapleton, Staten Island, 1894, George
Washington then being President.
New York then contained a population
of thirty thousand, and our national in
come was about four millions dollars.
The house in which he was born is still
standing, and is part of his estate. In
1910, when the father of the present
John Jacob Astor had, at the age of
forty-seven, already amassed millions
of dollars, Cornelius then boy of six
teen, began his career as captain Of a
beach at Whitehall to Staten Island,
carrying passengers at eighteen cents
each. From that day until his decease,
through q period of sixty-six years,
Vanderbilt has been engaged in carry
ing freight and passenger, by land and
by sea, by steamboat and railroad. In
1910 New York contained eighty thous-
and inhabitants, and Staten Island, Van
derbilt's native place, was inhabited by
farmers, gardeners and fishermen.
About 1915 Vanderbilt and his. brother
in-law, Captain De Forest, launched
the Charlotte, q coasting-vessel, noted
at the time for its model and speed.
In this vessel he cossted along the
southern coasts during the winter sea-
son as far as South Carolina, bringing
very considerable freights on his return
voyage. In 1917, ten years after Robert
Fulton first navigated the waters of
the Hudson by steam, Vanderbilt
abandoned sailing vessels and began
steamboating. He engaged with Thos.
Gibbons, and was made captain of the
steamer plying between New York city
and New Brunswick, on the Philadel-
phia line. Mrs. Vanderbilt had
charge OF the hotel at New Brunswick,
where the passengers passed the night.
1t had never previously paid expenses,
and was given to Vanderbilt rent free
Under Mrs. Vanderbilt's management
it soon became profitable. Vanderbilt
spent twelve years Of his life in Glib
bon's employment. In 1929, at the
age of So, he was worth $4,000, and
determined to start for himself. The
first steamboat he ever built was the
Caroline, which finally went over the
Niagara Falls. In those days the bus
mess Of steamboatlng was III the hands
Of men Of wealth, and powerful COM
panies. Vanderbilt, with comparative
" slender means, found it uphill work
but single-handed he successfully over
came all opposition, and gradually
made his way to the control of the
steamboat interest. His most formida-
BILE opponents were the Messrs. Ste
vens, of Hoboken. They also exhaust
ed his resources, but he finally forced
TO ii
at the time that he fought his battles
without assistance from any quarter,
relying entirely on himself, as he had
done throughout.
In these pursuits Mr.. Vanderbilt &C
quired two things, namely, an immense
fortune, and the title Of commodore"
which has chung to him ever since. In
1851 he established line to California
via Nicaragua. In 1862 he presented
a new steamer Of five thousand tons,
costing 0,00O-the Vanderbilt
the United States, for which Congress
passed a resolution of thanks. At the
the time she was earning him s., 900
per day. His cruise in the steam
yacht Nortn Star, and his visit to Russia
will be fresh in the minds of most
readers. Gradually withdrawing from
steamboats, he invested in railroads, and
was the largest holder Of railroad stocks
and bonds in this country, IL not in the
world. He bought almost the whole
stock of the Harlem road, at nominal
prices, much to the surprise of the
knowing ones. When he and his friends
bought the New Jersey railroad, it was
comparatively worthless it has since
become one of the most valuable
stocks on the list. Mr.. Vanderbilt like
wise acquired the control Of the Lake
Shore and Michigan Southern railroad.
Under his management the New York
Central Railroad Company and the New
York and Hudson River Railroad Com
pany were consolidated by an act passed
May 20, 1869. The terms Of consolida.
ton were ratified by q vote of the
stockholders of each company October
1, 1869. Mr.. Vanderbilt, by stroke OF
the pen, created, on the 10Th Of Decem.
Der, 1868, an additional capital OF 49,
O36,OOO to the then stock Of the New
York Central Railroad, by issuing
interest certificates rated as stock
which now forms part Of the $90,OOO,'
600 capital stock Of the New York
Central and Hudson River Railroad.
In 1864 Mr.. Vanderbilt reported ais
income to the United States Internal
Revenue Commissioner at very nearly
three-quarters Of million. In 1865
his fortune was estimated at SAC, O0O,-
600. To-day those who are most famil.
lar with his affairs rate the estate at
from s7O,OOO,OO0 to $80,00O,O0O. 1t is
understood that the bulk Of his for
tune will go to his son, VIM. 81. Van
derbilt, who relieved his father from
the active cares and burdens OF busl
ness. There was recently a report II
circulation to the effect that the Com
modore had already made over tt
William" a SUM OF $5O,OUU,ooO II
stocks and bonds.
SORE NOSES, Catarrh, Sore Throat,
sure cure is DR.. ]. II. McLean.s Catarri