The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-06-02

been asked to part with u controlling
interest (meaning the Erlanger syn
dictate, which controls l,4OO miles OF
Southern railway. Iexpeot Il very
handsome profit on present prices
when the developments are fully
known. During my absence in
Europe my business will be intirely
in the hands of my son George"
This probable retirement of Mr..
Gould, who is the acknowledged
leader in Wall street to-day, vas fol
lowed by the announcement that his
chief rival in the speculative world,
William H. Vanderbilt, is also az
ranging his business affairs, with a
view to spending the remainder OF
his days in a quiet and less disturbed
manner, and to place the burden OF
his heretofore great labors upon the
shoulders of his sons, who, he thinks,
have abundantly shown themselves
to be apt scholars and capable to as
sumo the responsibility. Especially
is This so with Cornelius, his eldest
son, who is regarded by his father as
very conservative. Cornelius is
rather piously inclined and carries
somewhat of a sanctimonious counte-
nance, while William K. is quite the
reverse.
He is more speculative and 60
aheadative than his elder BROTHER"
said a well known New street
broker, who is an intimate friend of
the family. HE is more like his
grandfather, the commodore, not
easily frightened at figures in con-
nection with Wall street operations"
"Then you think the elder Van
dernilt proposes to retire from active
b~usiness?"
II know that he does. Much of
the stock speculative business, which
is now attributed to the father, is
really connected in 10 way with
him, but is exclusively confined to
the dealings of the boys. They en-
ploy the same brokers who form. rly
did the business of the commodore.
and since of William H., and for this
reason it often creates an impression
that all purchases and sales are for
the account of the father"
"How do the boys carry on their
operations"
"Their dealings are largely con-
fined to the roads under their man.
agement-New York Central, Lake
Shore, Canada Southern, Michigan
Central, Northwestern and Omaha.
They seldom visit Wall street, but
carry on their operations by private
wire from the Grand Central depot,
or from offices in that immediate
neighborhood. In Lake Shore they
have made big money, and in all
their deals they have been successful.
Their operations are sufficiently
large and bold to carry them to a
successful termination, and this in
reality was the secret of the c)mmc-
dOre's success"
"How did the Vanderbilt boys get
their start in life?"
"While the commodore was living
the Vanderbilt boys were scarcely
heard Of, and even William II. was
kept in the background, owing to
the imperious and autocratic manner
of the commodore toward his family
and all his relatives. Especially was
this the case with his sons-in-law.
James M. Cross, a fine looking and
worthy gentleman, married the
eldest Vanderbilt girl, and shortly
afterward was anxious to emotrk in
business. At that time the safest
and most profitable business was
known as the leather trade in the
Swamp district. Mr.. Cross found a
man experienced in that line, who
impressed him so much with his
ability that a partnership was con
Guided, a store was rented, clerks
were negotiated with, and all that
was wanting was the $4,000 which
Cross was to furnish. He called
upon the commodore, laid his plans
before him and asked for the money.
The commodore asked:
flames, how much do you think
the new business will make for you
in a year if l should advance the
$5O,OOO?" Desiring to be regarded as
conservative, Cross responded that it
would certainly net him $1,000 a
year.
"'Well, James, said the commo-
dore, with great deliberation, 4 can
do much better with $1,000 than
that myself. [ will give you a salary
of 5000 a year and send you to Cali
to look after my business
interests there
"When the commodore died, how
ever, leaving $50, 600, O0O, the bulk of
his fortune, to his favorite son,
William H., he left $1,000, 900 to
young Cornelius, 50 OOO, coo to
William K, 81 900. 600 to Frederick
and 81, ZOO, 900 to George Vanderbilt,
all sons of William H. This inherit
ance, all but George, who is under
age, they received when they reach
ed their majority age, and started in
life for themselves. Since that time
they have padded their own canoes.
1t is safe to say that they are worth
from $4,000 600 to $40, 900, 900
George Could" said Henry
"is % years Of age, his
mothers pet and his daddy's joy. He
is as bright as he looks, and only
lacks experience to enable him to
wear his fathers cloak during his
absence on a yachting excursion.
He has never tried to do much on
his own account, and that expert
ence he now lacks. He always relied
upon and put his trust in his father,
whose dealings were sufficiently
of late years to provide for
George and the rest of the family.
When Jay Gould apsents himself, |
undoubtedly will develop
and show the stuff of which he is
made. Heretofore he has been un-
able to do so. He has made some
poonnxv f-o~ hio ;~torook 80 ~. g. |