New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1879-01-15

Personal Sketches of Ast0r, Vanderbilt
Ste,rart and Lenor-Hotc They acquired
Their Money, and Ho,c They Kept 1t and
added to It-Peculiarities of Their Busi-
ness and Social Relations-Their Liv.ng
Representatives..
New York Times.l
The founders of the great New York for
tunes Of the present century-John Jacob
Astor, Robert Lenox, Alexander T. Stewart
and Cornelius Vanderbilt-have all passed
away.
John Jacob Astor arrived in this city at
period of great depression, in 1884. During
the latter part of 1888 some $4,000 refugees,
men, women and children, left New York,
Long Island and Staten Island for Nova
Scotia and ST. John, among them many per-
sons of fortune and estate. These estates
Astor began to buy whenever he could spare
the money as soon as he got a little ahead in
the world. John Jacob Astor's first pur-
chase of city real estate-two lots on the
Bowery lane OF road, near Elizabeth street
was made in August, 1889, and from that
date to the time of his death, March, 1S4S,
he was steady and constant buyer of real
estate. The last conveyance to John Jacob
Aston was made shortly before his death in
l947. The conveyances made 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 IN the index of conveyances on file
in the registers Office. These wise invest
ments have with time swollen into enormous
wealth, and the Astor fortune to-day, as
represented by Mr.. John Jacob Astor and
Wr. William Astor2 (grandsons of the first
Astor), is one of the greatest fortunes of the
world. At the time of John Jacob Astor's
death, in l94S, his fortune was estimated at
from $3.50, 100000 to $4O,OOO,O0O, and he was
counted the fifth on the list Of rich men,
Baron de Rothschild, Louis Philippe, the
Duke of Devonshire and Sir Robert Peel
only exceeding him.
The late Mr.. Robert Lenox. like Mr.. Astor,
was self-made man. He was, when he
first began, an entire stranger in this city,
where the name of Lenox is now so greatly
venerated because of the noble deeds of
charity and the lavish donations for religious
and literary purposes of his only son, James
Lenox. MIR. Robert Lenox commenced
business in 1783-the year before John
Jacob Astor arrlved-and remained here per-
manently until his death, which occurred in
December, 1879, in the 9lst year of his age.
For many years his operations greatly ex-
SSS>~S~ ~
country of that day. He became, eventually,
one OF the most successful merchants in the
United States. Mr.. Lenox invested his &C.
foundations chiefly in city real estate. In
1917 and 1918 he bought, for less than
81 600, about thirty acres of land, running
from Sixty-eighth to Seventy fourth street.
between Fourth and Fifth avenues, known as
the "Lennox Farm much of which is now
covered with first class brown stone houses
The enormous increase in the value of this
land, sold for the most part at top prices be-
tween 1861 and 1872, gives Mr.. James
Lenox high rank among New York mil
ionaiires. The Lenox farm to-day, without
a brick on it, would be worth $8,OOO,OOO.
While the Lenox fortune is modest indeed.
when compared with the colossal accumula
tions of the Astors, Vanderbits and Stew
arts, we venture to hazard the opinion that
Mr.. James Lenox has quietly given away
as much as the late Mr.. Peabody. His do
nations in land and money to charitable,
literary and religious institutions situated on
the Lennox farm alone, amount to over
S2,5OO,OOO. This is noble example to
those who WELD the great fortunes of New
York. 1t is to be regretted that the name of
Lenox, so far as the founder or the family
in this city is concerned, dies with the pres
ent MIR. James Lenox, bachelor now adj
yanced IN years. AS long as New York ex-
lists his memory will be remembered and
cherished.
The fortune of A. T. Stewart-of quicker
growth than that of Astor-was accumulated