Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-04-10
PAYING HIS BROTHERS. DEBT.
The Daughters OF the Late Horace
Greeley Get $50 ,O0O from w. Ivan
derhtlt for Money LOANED by their
Eather-An AnecdOte Con
nected Herewith.

New York Times: Some fifteen years ago
Cornelius J. Vanderbilt was somewhat in dis
favor with ms father, Commodore Vanderbilt,
on account of ms reckless habits and extrava.
gance. Young Cornell managed to lngra-
tate himself In the favor of the late Horace
Greeley. The commodore had cut down Cor.
nehuS'S financial resources to a merH living
allowance, and was memorable as to all
further appeals on that snbisct. In the
coarse OF the aCQu2nt0nCeShIp and intimacy
which resulted between Cornelius and Mr..
Greeley, the latter was induced TO advance or
lend considerable sums of money 70 the
young man, but upon what representations,
expectations or security Is not row very gen
orally known. The total Of these loans has
been stated at forty thousand dollars
Cornelius ]. gave Mr.. Greeley his notes
tor the amount He has never sinca been
in a condition to hQuidate the debt, although
he was doubtless disposed to do 50. The
commodore and Mr.. Greeley never undertook
any settlement OF the affair, although they
are understood to have had brief debate on
the SUBJECT On one occasion. Since the close
Of the Vanderbilt will trial, negotiations have
bsen completed by which these long overdue
notes have ut last been taken up aud paid by
Mr.. VIM. II. Vanderbilt in behalf of his
BROTHER, and partly, ne doubt, under q sense
OF equitable Justice to the heirs OF Mr.. Gree
leg. The matter was finally closed ut the
Hoffman house, IN n conference held yestsr-
day, when Mr.. ", II. Vanderbilt caused to
be paid to Mrs. Ida Greeley Smith and Miss
Gabrielle Greeley, Mr.. GreeleY's surviving
daughters, the sum OF twenty-eight thousand
i've hundred dollars each, beng the principal
O. the notes, with accrued compound inter-
est, There was no legal liability whatever
against the estate of Commodore Vanderbilt
on account OF this debt. and its prompt and
generous settlement reflects credit upon the
executors, and viii, no doubt prove accept
able to the REGIMENTS.
ANANECDorE.
In connection with this deSt a story is told
that when the commodore heard ''Corneel"
had been borrowing large sums OF money
from Mr.. Greeley, he became very angry,
and assuming that MIR. Greeley had loaned
the money mainly in the belief that he the
commodore would repay It, determined not
TO pay II, as warning to others not to lend
money to this Maynard son. After thinking
over 1t, he set Oft IN high dudgeon to see Mr..
Greeley and give hlm a piece of his mind
about it." Mr.. Greeley was very busy when
the commodore came, putting and indignant
INTO ms office. In his usual bluff, ImpetuouS
way the commodore said: "Mr. Greeley, /
understand you've been lending my son
Cornell money!" Mr.. Greeley, looking up
quickly, and then almost instantly resuming
ms work, replied, IN his usual drawing way:
Yes, Commodore, I've let him have some
money" You have, eh?' blufad in the
commodore, you have-well, l want you to
understand that | amt responsible for II,
and l shant pay you cent of 1t. Mr..
Greeley ran his spectacles up on his brow,
stopped writing for a moment, and, turning
full face On the commodore, fairly yelled out
You went, EN-? Well, who the devil asked
you TO pay il? 1 didn't, did I?" Greeley
dropped his glasses over his eyes and bent
again to his work. The commodore, non.
pluSsed and boiling over with fury, steamed
out of the office, and it was a matter of
rumor that the two men were never after
ward on rs good terms as they had prev GUS
ly been.
vANDERBILT's STATEMENT.
New York special to the CINCINNATI Em-
qUiTe1: You may remember Colonel Nicho-
las Smith-one of the first founders, sir, of
kentucky. He came here some years ago |
and married Greeley's favorite daughter, Ida, |
and put on no end of patrcian airs without |
much Of financial basis. Cornelius j. Van
derbllt, who has compromised on a million |
dollars with his brother William, Tugs IN the |
colonel IN a curious way in the following con- |
versaton: "On Saturday last, at the Coleman |
house, | paid slXty-one thousand dollars to |
Mr.. Greeley's daughters. That sum was the |
principal and interest OF my Indebtedness to |
the Greeley estate, as ten thousand dollars |
had been previously paid to Mr.. Greeley's |
daughters In the spring of 1873, making the |
whole sum paid seventy thousand dollars |
akdlO NutS suCutl u NY own motion ana |
from my own means, taking receipts from |
Ida and Gabrielle Greeley, which I have now
IN my possession. The settlement was made |
at the Coleman house in the presence of Mr..
Scott Lord and Mrs. Esther Greeley Cleye- |
land, daughter of Mr.. Greeley The hus-
band of Miss Ida, Mr.. Smith, was not present.
and had no part In the closing of the trausac-
ton beyond making repeated and vi gorous at
tempts to get control of the business of sat-
Element and the funds connected Herewith.
he carried his opportunities and meddliup so
far that both Mr.. Lord and myself refused TO
have anything to do with him. Since the
settlement, Colonel Smith has protested |
against that part of it which Is covered bv
notes of six thousand dollars each, and winch
are amply secured, and are payable in one
year, with seven per cent. interest. These
notes Smith claims are not negotiable, and |
he is, therefore unable to get possession of the
money, which, as friend OF Mr.. Greeley and
his daughters, | advised them to have prop
erly invested by two different per-o Of re-
cognized business capacity, selected from
among their fathers friends. | named Mr..
Charles Storrs, one of Mr.. Greeley's execu-
tors, as suitable person to invest the money
Tor MISS Gabrielle. This advice evidently in
tertered with Colonel Smiths views, and he |
has entered upon line of action to prevent |
any such disposition being made of the money
PAID over by me to his wife and sister in law
In order to prevent further controversy, | 1
have resolved to pay the amount of the notes,
twelve thousand dollars, in cash tomorrow
In any case, l had made up my mind to pay
them soon, as they bore interest at seven per