The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1877-01-11
Death of Commodore Vanderbilt Sketch
Of a Busy Career.

| NEW 4Oklk. S4.--COt1lnOUOfp COl
nelius Vanderbilt died this mornicg at nne
minutes to eleven o clock, aJ his residence III
Washington Place.
| Commodore Vanderbilt has suffered from !.
complication of diseases, and his death for
some days has been hourly expected. liz
died almost without q struggle. All his fam
| lily were at his bedside. Change for tile worse
took place in his condition about foar O'Clock
this morning, and he expressed Il desire to
see Rev. DR.. Deems, his spiritual adviser.
He was soon present, and the commodore
said to him: IL think am nearly done for -
DIR. Deems prayed. and the members Of the
family who were present sang Il hymn. His
physicians were at his bed side and did all
that medical aid could suggest to make his
last moments peaceful. His funeral will take
place Sunday morning, at 1870 O'Clock.
recent urinary of his railroad wealth
fixed it at SIS, 600, 900. He owned comparl-
lively little real estate. His personal estate
for 1876 was assessed at $4,000 00 The
Evening Post of to day, however, says: cit
is estimated by those in position to Judge
correctly that Commodore Vanderbilt was
the owner of securities having present mai
ket value of about sS5,D00.0O0, and Of this
total fully So, 100000 consisted of the stock
and bonds of the New York Central and Hud-
son railroad. 1t is Uni derstood that the
bulk OF this vast property is be to kept to-
gether, and that provision has been made
for renvesting the accruing interest on it in
his favorite securities"
BIOGRAPHICAL SKETCH OF COMMODORE
VANDERBILT.
Mr.. Vanderbilt was born on Staten Island
New York, May 81, 1893, and was ccnse-
quently in the eighty-third year of his age.
In 1910. when sixteen YEARS OF age, he be-
gan his career as captain of a sailboat which
used to run from the beach at Whitehall
to Staten Island, carry ing passengers at
eighteen cents each. From that day to pros
tration by illness, through period of sixty
six years, Mr.. Vanderbilt had been steadily
engaged in carrying freight and passengers
BY land and by sea, by steamboat and rail
road. Iu 1910 New York. contained $4,000
inhabitants, and Staten ISLAND was inhabited
by farmers, gardeners am fishermen. About
1915 Vanderbilt and his barother-in-law, Cap
tain De Forrest, launched the Charlotte, IL
coastlng vessel neted at IL 1t time for model
and speed. In this vessel he coasted along
the Southern coast during the winter season
as far as South Carolina, bringing very con-
riderable freights ON return voyages. In
1917, ten years after Robert fulton first nav
igated the waters of the Hudson by steam.
Vanderbilt abandoned sailing vessels and
began Steamboating.' lie engaged with
Thomas Gibbons, and was made captain of
the steamer plying between Now York and
New Brunswick, on the Philadelphia line
Mrs. Vanderbilt had charge of the hotel at
New Brunswick, where passengers passed
the night 1t had never previou sly paid ex-
penses, and was given to Wand erbilt rent
free. Under Mrs. Vanderbilt'.s managa-
gement it soon became profitable. Wander
hilf cpnpt fv,a1ya vaorc of hi, Ef, in
bons's employment In 1929, at, the age of
thirty-five, he was worth $50, 900, and deter
mined to start for himself. The first steam
boat he ever built was the Caroline, which
finally went over the Niagara Fails In
those days the business of steamboatmg was
in the hands of men of wealth and powerful
companies. Vanderbilt, with comparati We
ly slender means, found it uphill work; but
single-handed he successfully overcame all
opposition, and gradually made. his way to
the control OF the Steamboat interest. His
most Formidable opponents were the MeSsrs.
Stevens, of Hoboken. They almost exhausted
his resources, but he finally forced them to q
compromise. 1t was thought at the time that
he was backed by Gibbons, but he fought his
battles without assistance from any parter,
relying entirely on himself, as he has done
throughout his whole career. In these, pur-
suits Mr.. Vanderbilt acquired two things
an immense fortune and the title of stCom-
modore," which chung to him to the end OF
his life.
In 1851 he established a line to Cali tornia
ola Nicaragua. In 1865 he presented q, new
steamer of five thousand tons, costing $780,
000-the Vanderbilt-to the United S tates.
for which Congress passed resolution OF
thanks. At the time she was earning him
50, 600 day. Gradually wthdra wing from
steamboating he invested in railroads. and
was the largest holder of railroad stocks and
bonds in this country, if 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 in the street.
When he and his friends went over to that
foreign land called New Jersey and bought
the New JERSEY .railroad, itwas compare lively
worthless: it has since become one of the
most valuable stocks on, the list. lMrIVan-
derbilt likewise acquired the control of the
Lake Shore and Michigan Southern railroad.
Under his management the New York tCen-
trail Railroad Company and the New York
River Railroad Company were consolidated
by an act passed May 20, 1869. The terms
OF consolidation We're ratified by vote of
the stockholders of each company October l.,
1869. Mr.. Vanderbilt by q stroke of the pen,
created on the 10Th December, 1868, an ad-
stock of the New York Central railroad by
Issuing interest certificates rated as stock,
which now forms part of the 500, 900, 900 cap
ital stock OF the New York Central and Hud-
son River railroad.
On the 9th of January, 1858, New York
Central railroad stock was selling at ~ in
in New York, while Harlem railroad stock
was going begging at 81. After that Cen
trail went to par and above, and that par
valuation has been wateredl to the extent of
80 per cent, and the stock so watered is now,
after its consolidation with Hudson railroad
stock. quoted at los to LOG, while the consol-
lidated first mortgage bonds of the same
road are selling at ~ to 122. Harlem is
worth 1877 to 1873.
In 1864 Mr.. Vanderbilt reported his income
to the United States internal revenue COM
missioner at very nearly three-quarters OF a
million. In 1865 his fortune was estimated
at $40, 900, 900, and has lately been estimated
from that sum up to 800, 100000. and the
latter being the estimate of Daniel Drew.
Possessed of such princely fortune. Mr..
Vanderbilt's generosity was frequently ex-
ercised on magnificent scale. lie paid for
the building OF the Church of the Strangers,
in New York, of which Rev. DR.. Deems is
the pastor. and supported the Moravan
Church at New Dorp, Staten Island. near
which he had erected a mausoleum for his
own final resting place. He also endowed
a school for girls oil the grounds of that
church. to be built on the plan of the semi
nary at Bethlehem, in this State, which he
also literally endowed. But his greatest ben
efaction was to the new educational enter
prise at Nashville, Tennessee, under the con-
troll OF the Methodist Episcopal Church
South, of which his second wife has been a
member, This institution, named the Van
dcrbilt University in his honor, was organi-
zed in January, 1878, and in March ensuing
Mr.. Vanderbilt gave $500, 900 towards its en-
dowment, following this up with an addi-
tional 100000 in April, 1874, to be used as
building fund, in order that the university
buildings may be completed in accordance
with. the plans and specifications previously
approved by him. A portion of the build
ngs were ready by October, 1875. and the
institution was then formally opened for
students. In June of this year he added
$500, 900 to his endowment of the institution,
thus swelling his donation to round 81, OO0,-
900.
Mr.. Vanderbilt first married in 1913 Miss
Sophia johnson, the daughter of neighbor
living near his fathers farm on Staten Island,
She bore him thirteen children, After her
death he married a second time, at the age
OF seventy-six, young lady from the South,
cfF1nfl xfr L