The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-09
TIE YANDERBILT BUSINESS.
The CompromIse-A mutton to Cornelius j.
Ills Debts Paid Out oft.
Tho round sum OF Al 100000 which IL was


Tho ronnd sum OF 81 ,0OO,OO0 which IL was
agreed should be- paid to Cornelius J. Wander
hit WAS subdivided IA follows: The debts OF
cocding 100000 Mt which they were estimated.
were ~ be paid md that 10 the Greeley estat,
first Of all. O. j. Vanderbilt Represented that
this t3OOOO would cover his indebtedness to
the Greeley estate George Terry. H. r.. Sim
mons. and all othere. with interest. and II was
over and above S .,"sa dcHts should BE- paid Elm
in cnsh The 500 900 left him Ivy his father in
the will was to be pad-thnt IL to say, the in
come of this sum. In addition. William II.
vanderbilt agreed to pay his brother f5OO.OOO.
plyending ne investment of this latter sum
named until Cornelius could select other secn-
rites in which TO invest. TIL Mr. vanderbilt.
the younger, did on saturday last with the advice
and assistance Of Mr.. H. ID. Worcester Secretary
OF the New York Central Railroad. who has been
for many years personal friend Of both
brothers. and who. in the proposed aheence Of
Cornelius J. IN Europe for some years to come.
The cross-exnmination in the will cass which
Mr.. William II; Vanderbilt was desirous of
avoiding related solely to his financial con-
diton Naturally It would be- great drawback
TO nun in Mr. Nandrrblts position To he COM
psli9l 70 state on ohtli tue nature anu amount
81 his Immense Investments, and consequently
Mr.. Vanderbilt wished to avoid interrogation
on nj these points. Ihe c9ImPy22mI2ise i9oyyedss
hilt insisted that the debts OF Cornelius j. Van
dcrbilt should be paid us u preliminary to fur
thor settlements. In accordance with this mr.
large sum. not definitely nscertaincd, to H. f..
simmons; 70 George Terry. 100000; to Curtis
daughters Of the late Mr.. Greeley SCI 1877.
Mr.. Greeley began to lend moneyto Cornelius
j. Vanderbilt when the latter WIS very young
man. ie did SO out Of sympathy with him be-
cause Mr.. Greeley bcliesrd that Cornelius Van
Irrbilt. the oh Commodore, was ncediessly
harsh toward his youngest son; Mr.. Greeley
WIS a man moved almost IA much 10y sympathy
a. conviction, and the case OF young Wander
bit excited his pity To such an extent that down
to 1864 he had loaned him in various amounts
an nggreente Of f45.934. In the year named
Cornelius j. vanderbilt WIS RdJudicHtcd
bankrupt. and being discharged as such bank
rupt Of course the debt to SIR. Greeley was
cancelled in q legal point OF view, Put
sent Mr.. Greeley by mail two notes each
for s22962 at per cent. interest and running
seven years. to secure him for the moneys adj
vanced at various times and represented 10y
many notes and drafts Tor various amounts. all
the bankrN MSry s prS N ~ J. Wander
bit claims to have received from Mr.. Greeley in
| reply a letter saying that he &C. J., Vldid not
owe him tMr. O. anything, but adding that no
would retain the notes for his children Suisse
qucntly Mr.. Vanderbilt drew upon Mr.. Greeley
for the following sums. all OF which were paid: :
iSsS-Dratt from Washing ton ACKNOWLEDGEMENTS. Snp
isiO-nrait from wash@stSn ........., Ion
ls"-Di aft from Washington VI
Total. ~ ~
or course the latter sums have been outlawed
| long ago and G. j. Vanderbilt was not legally
| bound 10 paw them, but an examination OF all
the proper calculation Of interest. resulted in
establishing that the total sum due from Cor
| nelus j. Vanderbilt to the daughters OF Mr..
| Greeley was ISL 1877.
To offset this were two claims. The first was
a payment Of s. go each to the two daughters
| made 10y Commodore Vanderbilt shortly after
| Mr. Greclcy's death. Commodore Vanderbilt
| undoubtedly believed thnt his way Of dlsciplin-
! ing his son was thu correct one. On learning
| that Mr.. Greeley wis advancing sums TO his
son. he called at the Tribune ofire and assembled
| 10 Mr. Greeey's room. The editor Of the 1i'ib-
| absorbed in writing. Commodore YAM
| derbitwas in Il rage. He burst out on approach
! ing Mr.. Greeley with this emphatic remark {:
| Mr.. Greeley. want you TO understand. sir. 10y
| Cd. won't pay a Id cent OF my son =
debts Without looking w from his manu-,
asked YOU. tor Mr., Vanderbilt, on leaving the
room. said 10 friend: What internal indie
| pendent fellows these editors arc" Mr. Greeley
subsequently said TO Cornelius J. Vanderbilt.
| after relating the circumstance: don't want
anything 20 do with these rich fellows they are
| Commodore Vanderbilt wrote TO the NJ Isses Ida
| and Gabrielle Greeley a note. in which. after
| calling their attention 20 the enclosure OF Har-
| lem for IS 600 TO each. he added that he wished
| II distinctly understood that he did not pay the
NeyerthsIsss' in the recent settlement concluded
vest rday. this amount Of $1,000. 81 course
without Interest vas d deducted from tho total
| Mr.. c. J. Nanderbilt put in n further claim
| that several wears ago he Ind paid Mr., Greeley
| 81 900 in cash for which no receipt had been
given or asked. Mr.. Vanderbilt expected that
| 1t would SIMPLY b" placed to his credit on a'-
count iA MI hftf'ifN IL represented hS SAY Ile
| that he would keep IL for Cornell " To borrow
| from thereafter. The 1000 with interest. max
| Ing altogether 10000 WAS allowed. and thus
| WIS also deducted from tho total leaving the
| sum 10 Doe paid In fun. s6l ls7.
This sum the two daughters Of Mr.. Greeley
| have received and tho most of II has already
been invested in separate accounts IN United
| States cglstrrcd bonds. Tho payments have
| been mndc uS follows;
Anfll 4-lUcd states o. uis .............. Spltb
Apul a-ttrtncl checks .,................ lH is'
| AuuI flash ................... al~i
Aprl 1.-Two notes. Snuuoeach .......,......... l2"
Total .......... tdl III
| Yesterday at noon. in Scott Lords OIL -. 26l
| Broadway. the tl2 900 was PROMPTLY paid ant
| the whole indebtedness WAS cancelled. and al
| parties expressed their satisfaction and goo,
| will. The daughters Of Mr.. Greeley volunta
| rly rendered the following TO c. j. Vanderbilt
| The money loaned by father. Horace greeley. Il
Mr. G. J. Vanderbilt amounting IN all, PRINCIPAL and ~
tcrcst to over sSl,pn. much ct which had been out
| lawtd. has been pAid IN tu by Mr. &. } Vanderbilt
thereby fully lustfying the iAIh our father placed II
| him Ina "HtlIY sAirH'
| GABRItLLR GRHlLkY.