The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1879-01-08

i Personal Sketches of Astor, Yauaer5E1.
SteIcurt and Lenon--Kotc They a11.axss.ets
1 Their Nancy. and IA oso esf Keyt It ara
! Atsded to It--FecMttas.tsies Of Their Htsss-.
!. ness and Socia1 Reiations--Yhesr If,.usy
/ Representatives..
| New York Timea.l
| The founders Of the great New York for
tunes of the present century John Jacob
/ Astor, Robert Lenox, Alexander Z. Stewart
and Cornehns vanderbilt-haye al passed
away.
John Jacob Astor arrived in this city at g
! period of great depression, in 1884. During
| the latter part of 1888 some Ii, 900 refueees.
| men, women and children, left New York,
Long Island and Staten Island for Noval
Scotia and st. John, among them many per
sons Of fortune and estate. These estates
Assor began to buy whenever he could spare
the money as soon as he got little ahead in
| the world: John Jacob Assar's first pus-
chase of city real estate two lots ON the
BoWery lane or road, near Elizabeth street
was made in August, 1889, and from thas
date to the time of his death. March, 1913.
ne was steady and constant buyer Of resi-
estate HE last conveyance to John Jacns,
Astor was made shortly before his death igs
lo47. The conveyanceg nade to him during
the fifty nine years which elapsed between
his first and last purchases of real estate IN
this city form seven pages of closely printed
matter III the index of conveyances on Gle
IN the registers Office. These wise invest
ments have with time swollen into enormous.
wealth, and the Aston fortune to-day, As
represented by Mr.. John Jacob Astor and
M. William Astor4 lgrandsons of the first
Astor1, IS one of the greatest fortunes Of the
world. At the time of John Jacob Astoria
l. So
from 100000 to 100000, 900, and he was
counted the fifth on the list of rich ,nen.
Baron de Rothschild, Louis Philippe, the
Duke of Devonshire and Sir Robert Pee,
only exceeding him.
The late Mr.. Robert Lenox. like Mr. Aston.
was self-nade man. He was. when he
first began, an entire stranger in his city.
where the name of Leno1 is now so greatly
venerated because Of the noble deeds of
charity and the lavish donations for RELIGIONS
and literary purposes OF his only son, dance
Lenox. Mr.. Robert Lenox commenced
business IN 1783-the year before John
Jacob Aston arrived-and remained hers per,
manenty until his death, which occurred in
December, 1879. in the 81st year of his age.
For many years his operations greatly ex-
ceeded those OF any other merchant in the
country of that day. He became. eventually.
one of the most successful merchants in tha
United States. Mr.. Lenox invested his az
cumulations chiefly in city real estate. In
1917 and 1918 he bought. for less thar
$1,000, about thirty acres of land, r.inuing
from Sixty-eighth to Seventy fourth street.
between Fourth and Fifth avenues, known az
the 'Lennox Farm" much of which il nov,
covered with first class brown-stone houses.
The enormous increase in the value of this
land, sold for the most part at top prices b.
tween 1861 and 1872, gives Mr.. Jauss
Lenox high rank among New York mid
lonalires. The Lenox farm to- day, without
brick on it, would be worth S., 000, 600.
While the Ienox fortune is modest indeed.
when compared with the colossal aceannu:a
tons OF the Astors, FanderbiIts and Stew
arts, we venture to hazard the opinion that
Mr. James Leno1 has quietly given away
as much as the late MIR. Peabody. His do
nations il land and money to charitable,
literary and religious institutions situated On
the Lennox farm alone, amount to oysx
So, 100000. This is noble example 10
those who WELD the great fortunes of New
York. 1t is to be regretted that the name Of
Lenox. SO far IS the founder or the family
IL this city is concerned, dies with the pres
ent Mr. james Lenox, a bachelor now aa
vanced in years. AS long as New York eu-
lists his memory will be remembered and
cherished
The fortune of A. T. Stewart-of Quicker
growth than that of Astor-was accur,aIaasxi
III one lifetime. At Mr.. Stewards death, in
1916, 1t was estimated at SSO,0G0CO0 CT
twice the amount of the highest estimate OF
John Jacob Astors fortune when be dien
in 1s4s. In 1875 Mr.. Stewards CITY real es-
for the most part below Union
square-was assessed at Sc, 2l2. 700: at that
time the assessed valuation represented oniy
6O per cent. of the real value. SO that ths
then actual value OF the real estate was Sf0.-
1854. 800, which forms but an eighth of Ess
estimated wealth. Mr. Stewart. however.
owned real estate in nearly every CITY in which
he had dealings. He owned number of
WOODEN and thread mills in this country
among them the Mohawk and Elbosuf. at
Little Falls: the New York mills, at EoIeokt,:
The Woodward mills, at Woodstock: ths
4antico mills, in New Jersey: the Washing
ton mills. at New Hartford; the CatsksN and
Watervllle Wooden mills. There are also
large mills at Nottingham, England, and
Glasgow, Scotland. The property OF the,
mouse OF A L. Stewart d Go. is greatly scat
tered. 1t owns property IN most of tbs
large cities here and abroad, and has con-
-AAN'@@t9 - 40 odiDioS. p1tSiuS oI New t1rE,
over six Thousand persons. There are brsuch.
houses at Bradford, Manchester, Belfast
Paris, Lyons, Berlin, and Chemnitz IA.
oaxony. The transfer by Cornelia VI. Stew
srt, widow of the late a. T. Stewart, to
denry Hilton of all her interest in the firm
u A. L. Stewart & Co, gives kr Hilton
conspicuous place among New York million
Tres.
Probably Mr.. William H. Vanderbilt is to-.
lay the richest man in New York. He IT.
'erited the bulk OF Commodore yaueer-
'llt's fortune. who, at the time of his death
vas accounted richer man than either af
he present Astors With the single excex,-
ion OF Mr. VIM. f. Vanderbilt, our chief News
.ork mlillonaires draw their revenues from
he rents, income and profits OF real estsaa-
'hlcn has shrunk fully one-third sinsa
s1o. 1t the Astor fortune was then $50.
it is to-day worth not over Soc. COO
w. and SO on throughout the list. Sinas
$40 New York has grown with g rs,,iafsy
ltherto nnknown In any OF the great caussrs
population of the world, and this crosvth
ave wealth to the fortunate few who benrht
Inherited city real estate. Their descend
aus are among our richest citiseus-
htef among real estate cgr.
3 VINO rank as miyiio,.;.,s