The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1884-12-25
THE RICH AST0R FAMILY.
Rise OF One OF Americas
Wealthiest Men.


Wealthiest Men.
The Poor German Emigrant's Son who
Died Worth Twenty Millions
John Jacob Astor, the great mil
lionaire. says New York letter to the
Chicago Inter Ocean, was the son of a
poor peasant Of Waldorf. Germany,
where he was born July II, 1868. His
youth was passed in struggle with
the sorest poverty, and at the age of
sixteen he left his humble birthplace
to seek his fortune. Two OF his
brothers had already left their home
on the same errand. one going to Lon
don and the other to New York.
John Jacob went first to London,
engaging in business with his brother
there, who was q maker of musical
instruments. Here he remained for
four years, toiling early and late. and
storing up his earnings with the pur-
pose of testing the better opportunities
which he believed awaited ambitious
young men in the new world. AS
soon as the treaty had been signed
recognizing the independence of the
United States he embarked for this
country. His purpose was t" continue
the business he had learned in London
making and selling musical instru-
ments--but meeting on the voyage
fellow countryman, engaged in the ;ur
traffic he gave up his original plan,
and Immediately upon his arrival in
New York engaged with furrier to
master the details of the business. He
was employed here for three years,
when he went into business for him.
Self, opening small shop for the ex-
change Of trinkets. At that time In
dians and white trappers used to bring
furs to New York for sale, and most
valuable skins could be readily obtained
for few baubles. Astor also journeyed
through western New York, going
from house to house in the wilds Of
the frontier buying skins. Thus was
the foundation of his colossal fortune
laid. He sent bis furs to Europe, and
such large profits was he thus able to
amass that in a few years he was the
owner of a number of ships, engaged
in transporting his fur abroad and
bringing back the produce Ct foreign
countries for sale in New York. In
1900 he sent the first cargo of furs tc
China. Soon after this he organized
the American Fur company, which
had trading posts as far west as Wis
consin. and the prosperity OF this or
ganization led him to form another
the Pacific Fur company, for the pur
chase of furs on the Pacific coast. He
now formed plan for establishing {
line of trading-posts from the Atlantic
to the Pacific with large trading depo
at the mouth of the Columbia River
Oregon. This led to the founding O
the town OF Astoria, Oregon, bu
though a line of posts was established
and numerous purchases Of furs wer
made, the enterprise never yielded tn
great returns that were at first expected
Probably about half of Mr.. Astor'
wealth was made through traffic il
furs and the China trade, and the res
in real estate transactions. He wa
shrewd enough to see how the impor
tance of New York city as CONNER
cial po mt would enhance the value O
real estate within its limits and earl
purchased large tracts of land on Man
haitian island, which as the limits @
the city enlarged be was enabled t
sell at a very great profit. When h
died, in 1S4S, Mr.. Astor was wort
$20,000.000, larger fortune than ha
: probable ever to that time been amasse
by one man. All of this had bee
gained by legitimate trade, by the ris
in the value of real estate and by rent:
. All forms of stock jobbing Mr.. Asto
. detestd and would have nothing to d
with them, no matter how fairly the
j, promised. The bulk of this immens
y wealth was left by Mr.. Astor to h
q son, William B. Astor. He gave gel
n erous legacies to his various relative
, founded the Astor library with gi
of 100000, and left $780, 900 to his n;
e tive town, Waldorf, in Germany. tt
f youngest Astor was very like h
: father, and, by his shrewdness ar
h careful management, more than double
:. the family wealth. AT his death
. 1875, he was worth over SIS 100000
g John Jacob Astor, the eldest son
!, William B. Astor, inherited the RIO
:, of his wealth and is now the most in
y portant representative of the family.
a How China got its Name.
a UPWARDS of 100 years before Chri