The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1881-11-25

William H. Vanderbilt.
THE SECOND GREAT CAPITALIST OF THE
COUNTRY. s
Though this gentleman is far less nota-
ble than Jay Gould, whose portrait and
life sketch we presented last week, and
far less important factor in American
history, yet he has probably the most
money. The ambition old Commodore
Cornelius Vanderbilt was to have his
colossal fortune kept intact, and after
training his son William Fl. for years
for the purpose ,he,bequeathed nearly all
of it to him, sending off his other child
rem and relatives with pittances compara-
lively. Probably with what the old com
modore left, and its increase, William
II. is now the possessor OF round SlOo,-
100000. He went on to Wall street 1ew
years since, got nipped by Gould each
time, and ultimae'y, if he had kept at II,
seemed sure to shatter his fortune. But
he was sensible enough to withdraw,
when he found he was losing heavily,
and has now invested his tremendous
wealth, except what he uses for his rail
road operations in U. ). 4 per cent bonds
AIN this conservative way he is exactly
fitted to pile up wealth, at the rate OF
millions a year. Unless his children dis,
spate it, almost one more generation VIII
see the Vanderbilts equal to the Roth
childs ofto-day. AS they, and The Goulds,
Floods and Mackey's grow richer, poll
tical and commercial power Will C ntlnue
TO aggregate in their hands, the poor
man will have still harder chance, and
communism, and revolutionary schemes
will thrive. To such an end haye tariffs,
subsidies, monopolies, and corrupt and
extravagant methods growing out OF the
war been Fastening us for the last ~
wears. 1t is within this time that these
tremendous fortunes have been plllng
up. A genera ion ago such things were
impossble. 1t is strange that the peo-
ple do not ask what the difference is;
but the great monopo lists furnish the
money for the political campaigns, and
the voters are blinded.
william H. Vanderbilt is the oldest
son of the late Commodore Cornelius
Vanderbilt. He was born at the sum-
mer residence of his father, New Bruins
wick, N. j., and after practical edu-
cation at Columbia College Grammar
School, he entered, in his eighteenth
wear. the financial house of Drew, Rob
| inson & Co., at New York, where, on the
expiration of two years, he was offered a
partnership. Soon, hover, for some rea,
4 son. he retired without any money ana
| went TO farming. Tue Commo lore gave
him seventy-five acres of unimproved
land on Staten Island, and he soon had
a larger tract purchated, and 500 acres
| under crop.
Tn relation to this seventy-fve acres,
Mr.. Vanderbilt alleges, it is said, that II
tried him sorely, as he had not sufflclent
meansto work and improve it thorough
Iv nor would his father advance him a
dollar to aid him. In this extremity he
mortqaqed the land for $4,000, which he
turned to good account; and the circum'
stances coming to the Commodores ears
the old gentleman observed to him one
day while they were riding together or
| one occasion:
$50 you mortgaged the New DroT
farm for $4,000, did you? You dom
amount to a row of pins, and never
will !" ;.
al did mortgage the farm, replie.,
the son, "and have put every cent OF l
the money right into improving tn'
land"
"Well," continued the Commodore
"pll have nothing more to do with you
for you will only bring disgrace on your
self, your family and every one connect
ed with you"
The latter progno stication does not ap
pear to have been fulfilled and as II
his never amounting to row of pins, w
think there has been no very clear verl
fication of this assertion, either. How
ever. the Commodore the morning afte
the conversation, sent his son check TO
S6 900. ordering him to pay off the mort
gage Immediately.
Shortly after this period the State
Island Railroad Company became EN-
barrassed, when Mr.. Vanderbilt and nj
uncle Jacob entering the management
relieved the road of its dlfhcultles an
improved its prospects in marked de
gree.
In 1856, he was elected vice preslden
of the New York & Harlem, and by III
industry and conservatism, won the COZ
fidence of his eccentric old father, an
became the confdant and associate
all his great operations.
He succeeded his father as manager c
the great New York Central system, an
il must be admitted that they hav
done the greatest work in railroad in
prevents and perfection that the worl
has ever seen. By simply and graC
ually removing the hard grades OF tn
road, they have brought it TO such
condition that their engines can hat
twice as heavy load as on any othe
lines. Every device known to sclenc
| to facilitate traffic, has been adopted
THE roads that undertake to compel
with it on equal terms are sure to b
bankrupted.
In 1S4l, Mr.. Vanderbilt married Mis-
Kissam, the daughter of a New for
clergyman, and Christian lady OF ser
ling qualities and atiainments. IN
Iunion has been blessed with nine chi
dren. eight of whom are still alive, con
prising most interesting and charm
ing family of sons and daughters, a
finely educated. He has made variou
visits to Europe where he has purchase
numerous works of art for the adorl
ment of his home. His new reslden'
!, costs 100000. Though now 60 veal
, old he is hale and active. lie glv'
munificently for charities and publ
enterprises, and in private life is vel
7 communicable man, though always q
the alert for business, and selfish a
$ grandisement. In none of his mere pc
e sonal habits is he extravagant.