Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-08-12

WILLIAM, IL. VANDERBILT
THE RoTHsCHuD OF AMERICA.
Although the enormous wealth of this
gentleman must entitle him to marked con-
sideration on all occasions, yet he becomes
more especially a man of the hour at the
present moment, from his participation,
either from choice or from necessity, in the
existing railroad war which has reduced
freights and passenger fares very much be
low their former values in this part Of the
world, and which bids fair to infict no small
in jury upon certain rival lines that are not
rs is alleged, IN a condition to compete sue
cessfully with her roads under his control
AS the secret of his position in this rcla-
ton is not understood by the general
public, it will be a matter of surprise to
many that the running expenses of the n.
I. Central, for example. should be kept at II
figure lower than that pertaining to some
other lines of equal length and apparent ex-
cellence but when we come to disclose the
important fact, that for years, Mr. Van
derbilt has been quietly and steadily re-
ducing the grades on all his roads, 50 as to
nearly double the drawing power of his
locomotives the mystery of his being able
to compete triumphantly with his rivals in
thi- war is explained at once
But although the public may. for the time
being, reap some benefit from this tOurna-
ment among the knights of the Iron Horse,
rely upon it. that ere long, these doughty
champions viii sound a truce and return
unltedly to their former system of prices In
the meantime however, low fares and
freights have greatly enhanced travel, and
have tempted buyers to make their fall nur-
chases at an unusually early date this year,
and 50 the ball keeps moving for the present
at least.
William Il. Vanderbilt, whose portrait we
publish to-day, is the oldest son of the late
Commodore Cornelius Vanderbilt He was
born at the summer residence of his father,
New Brunswick, n. j., and. after an excel
lent and practical education at Columbia
College Grammar School, he entered, in his
eighteenth year, the financial house of
Drew, Robinson j Co, New York, where
he exhibited such industry and executive
ability, that on the expiration of two years,
he was offered partnership. The close
confinement, however, having begun to
prey ON his health, he determined to take
up farming as means of recuperation :
and, the commodore having bought him
seyenty-Iiye acres of unimproved land on
Staten Island, he at once took his Young
wife there, and set to work with such skill
and energy that he not only cleared the
seyenty-iye acres, but soon had a larger
tract purchased, and $50 acres under crop
In relation to this seyenty-five acres, Mr..
Vanderbilt alleges, it is said, that it tried
him sOrely, as he had not sufficient means
to work and improve it thoroughly nor
would his father advance him dollar to aid
him. In this extremity be mortgaged the
land for st, 900, which he turned to good
account, and the circumstance coming to
the conlmodOres ears, the old gentleman
observed to him while they were riding to-
gCther on one occasion:
So you mortgaged the New Drop farm
for IS, 600, did you: You don't amount to
a row of pins, and never will
8 did mortgage the farm replied the
son, "and have put every cent of the emoney
right into improving the land"
well, continued the commodore, "rll
have nothing more to do with you: for you'll
only bring disgrace on yourself, your family,
and everybody connected with you"
This latter prognostication does not ap-
pear to have been fulfilled and as to Mr.
Vanderbilt never amounting to row of
pins, We think there has been no very clear
yerifcation of this assertion either. How
ever, the commodore does not seem to have
put much faith in the one or the other; for
the morning after the conversation took
place, he sent the son a check for $4,000,
ordering him to pay off the mortgage inme-
diately.
Shortly after this period, the Staten
Island Railroad Company became embar-
rassed, when Mr.. Vanderbilt and his uncle
Jacob entering the management relieved the
road Of its difficulties and improved its
prospects iii a marked degree. The expe-
rience acquired here gave the subject of our
portrait such an insight into railroad affairs,
and so advanced him liz the opinion of GER
tain capitalists and stockholders that in
1864. he was elected vice. president of the
New York and Harlem, and in 1856 of the
Hudson River line, which under his man
agement became SO prosperous that he was
unhesitatingly recognized as not only a
railroad manager of profound knowledge
and experience, but worthy the confidence
of the commodore to the fullest extent. 1t
was now plain sailing until the death of his
father, when, as all the world knows, he
suddenly become possessed of untold
wealth
In 1S41, Mr.. Vanderbilt married Miss
Nissan, the daughter of New York clergy
man, and Christian lady of sterling quail
! ties and attainments. This union has been
blest with nine children, eight of whom are
still alive, comprising a most interesting
and charming family of sons and daughters,
all finely educated. He has made various
visits to Europe, where he has purchased
numerous works of art for the adornment OF
| his home on this side of the Atlantic. His
I charities and public spirit are not unworthy
| his vast wealth, although he does not seem
to court notoriety through these channels.
This may be inferred from the fact that
notwithstanding he had betrayed the whole
cost of the removal of the obelisk, Cleo
patra's Needle, from Alexandria, Egypt, tt
its site in Central Park, New York, it was
some time before the public was made
aware of the circumstance.
Although Mr.. Vanderbilt's mere persona
habits are not extravagant, he is about t
oocnpy one of the most magnificent resi-
dences IN this country. If rslmor speak
truly, he has contracted that his new abod
shall be built according to certain rare plan
and specifications, and handed over to hin
completely furnished to even the most tr
fling detail for the sum of two millions q