New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-13
PRICE THREE CENTS.
W. K. VANDERBILT SOLVENT.
STREET RUMORs DENIED BY HIS FATHER.
THE SON WORTH AT LEAST EIGHT MILLIONS ABOVE
HIS FNGAGEMENTs

| THE son WORTH AT LEAST EIGHT MILLIONS ABOVE
HIS ENGAGEMENTS
1t has been rumored lately in Wall Street that
William X. Vanderbilt had suffered heavy losses
! in stock speculation, and yesterday it was even
said that he had been forcedJ by the continued
decline to ask assistance from his father, who
had drawn his check for several millions in settle
ment of the losses
William H. Vanderbilt was asked by TRIBUNE
reporter last evening what foundation there was
for these rumOrs of his sons embarrassment When
the reports had been repeated to him he said
"H'm-I heard that the bears had him 'bursted.'
heard, tOO that they said that we did not speak
to each other. There is not one word of truth in
any of the stories and 1t isoutrageous that such lies
should be started. There is no punishment too
severe for the men who set them going. William
X. has never asked me for dollar; he has never
limited that he needed help. The rumors about
his losses became so hot that this morning
went to him and asked HIM if he was in trouble.
He showed me in a few minutes enough to convince
me that he Is worth at least $4,000, 600 above all
his engagements. He is as solvent as | am-as free
and clear as 1 am. The mere number of millions
makes little difference when a man can show sur
plus above his debts like that. William K. Wander
bllt is just solvent as am. 1 had expected to
find that he had made some losses, aud was sur
prsed at the result of my inquiry. had no idea
that he had made so much money.
ABLE TO TAKE CARE OF HIMSELF.
"I thought that he was not one Of the
breed if he had allowed himself 10 10
cOrnered by those bears in Wall Street, but
be can buy em all up-the men who started the lies
about his failure. He never 'sQueals' as they do,
either, and he never has given up one of the men
who have been associated with him IN some OF his
operations. No, cut him loose among the bears aud
he will take care of himself Why, his grandfather
left him $2,000,000, aud that he has now IN his
houses. See what he has now, and his grandfather
has been dead only about six years.
"Of he has some things which would
bring him loss If he was obliged to realize to-
day, but he is not obliged to sell, and
the bears cannot forcs him to do So But
even then it would only be giving back q
little Of what he has made. do not approve Of any
member of my family dabbing in stock sDecu alton,
but then that is another matter. cannot say much
about it in this case when / the results.
Ny father used to say to ME, Billy, the
men who take their 7 per cent interest will
have all the money IN time And remember that
a short time before his DEATH when we were issuing
some bonds, he objected to making them 2O.year
bonds because the time would run around TOO
quickly.
BEARS" THAT LOOK LIKE sNEAK-THIGyES.
"These stories about William X. are
an outrage damnable outrage. Tho
bears must be hard run when they have to start
such lies to help themselves Suppose he had been
Ia businessi Why, the circulation Of such rumors
might have hurt his credit so much that he and
the lrm he was with would have been ruined
absolutely ruined The rumors, perhaps, do no
harm III this case, because my son cares nothing
about them, but they are an outrage just the same.
1t seems as it, when money becomes che question,
men lost all gentemanly instinc's apd stopped 20
anything, no matter how mean and dirty II was.
ayes, the bears must be terribly hard
run when they resort to such things
The bears Il can see them now standing around
down there at the Windsor. It's funny; bat there
is something in the very appearance Of tho
bears which makes them look ike sneal-thleyes.
l can tell them Just by their manner and
looks. You wouldn't trust your poczetbook
with one of thcmy | wouldn't, at any tate,
and ever expect to sec it back again. Some Of tlem
pretend to nave llLtle money, but as a class they
are worth almost nothing. The fact Is, II Il cheap
10 be bear and they haven't money enough -
Re any hing else.
SMALL LOSSES IF COMPELLED TO SELL
81 sald that William X. would make some
small losses If he was compelled to sell. Have
any of the bears made auy money lately The
man who sold New York Central short at 40 two
years ago-has he made any money! lie has had 10
per cent IN dividends against him and the charges
aud commsslons-the eghths day l guess
the account does not show much Of profit. One OF
the biggest of the bears told me the other day
that neither the bulls nor the bears had made
a cent the last year; thought lie was telling
the truth about himself anyhow.
Il met another man from Wall Street day or.
two ago who told ne that William X. bad been
selling Michigan Central stock that day. Without
knowing the facts. offered to bet HIM 81, 900 that
William X. had never owned share OF the stock IN
his life. The man wouldn't take the bet,
but presume he kept on repeating
the story asked vii liam to-day,
and he said that he had never had share of the
stock That IS the kind of IA man q bear is.
But there will be II turn IN events soon. trices
beginning to find it out. New buyers viii
come IN at low prices, and then there
will be lot of frightened bears who will have 10
look out for themselves The public has kept away
from the market from lack Of confidence, but II Is
beginning to pick up good stocks at these nSures
| have not bougnt any stocks myself since Aarch
until within the last tOrJy-e ght hours. have
bought "A few in the last two days. There VIII soon
be a change i'll the speculation, think"