Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1885-07-01
vANDERBILT'S WEALTH.
Tho Enormous Accommodations OF tho Chief
Millionaire Of tho Day.

Millionaire Of tho Day.
HIS fortune was at one time placed at
as high as 5000, 900, 900, but a good
Judge lately said that he thought $780,
600, 900 was now nearer the mark.
Still he is the richest man in the
world.
None OF tho Rothschilds ever had any,
thing like his wealth. The banking
business of that famous house still, of
course, goes on in London, Paris, and
Vienna, but it is now in the hands of
young men of the Rothschild family,
and its wealth has been distributed
among quito number of its members
by will, as one by one, the older men
of the firm died. The combined capital
of that family is now about $3.50, 0OO,-
600, and some writer's, have declared
that Mr.. Vanberbilt's fortune exceeded
that of all the Rothschilds put together,
but this is an exaggeration. 1t would
not be at all surprising if Mr.. Wander
bits wealth should, before he departs
this life, fully justify such statement,
but for the present it is enough to know
that he comes as near as he does to the
figures mentioned, and that he is not
only far richer than any single men,
Der of the Rothschild family. but is, as
already stated, the wealthiest man in
the world. None of the traders of an
tiquity of which we have any record,
none of the present financial barons of
France or England, none of the monied
princes Of Germany, Austria or Russia,
or of the world of haute finance any
where, can really compare with him in
point of personal possessions. Old John
Jacob Astor with his fortune of $40, OOO,-
600 was, forty years ago, the Wander
bilt of his day, but even after making
due allowances for the greater purchas-
ing power of money in those times he
came nowhere near the enormous ac-
emulation of the chief millionaire of
to-day.
His wealth is largely in Government
bonds and railroad securities. He takes
an inventory of his wealth once year.
In January. 1888, he told a friend that
he was worth 1874, 600, 900, and added
IL am the richest man in the world. In
England the Duke of Westminster is
said to be worth $500, 900, 900, but it is
mostly in land and houses. 1t does not
pay him two per cent" This was an
unusual outburst of boastfulncss on his
part. A year ago he had S54, 900, 600 in
Government 4-per cent. bonds, but the
amount was afterward reduced to $685.
600, 900, partly for the purpose of aiding
his sons who lost $4,000, 600 by Wall
Street spcculations. Later on, however,
he purchased about SIC, 900, 600 more of
the 4-per cents, and he has besides
$4,000, 000 in the Government bonds that
pay three and One-half per cent. His
Government bonds are worth, as near
rs can be stated, $4,000, 900. He
owned q year ago 100000 shares of
Michigan Central stock, 300,OO0 shares
of Chicago and Northwestern, 200, 900
shares of Lake Shore, 10000 in the Chi
cago and Rock Island road, 10000 i'm
the Delaware and Lackawanna, besides
some 10000 shares in other railroads,
so that in all he held, approximately,
$4,000 shares Of railroad stock. A
large part of these he still owns, though
he Is reported to have sold considerable
Lake Shore stock.
He owns S22, 900, 900 worth of railroad
bonds, It is said, besides $4,000, 900
worth of State and city bonds, and has
S2,000,000 in various manufacturing
stocks and mortgages. He valued his
house on Fifth Avenue at $1,000, 900,
the art gallery being worth, with its
contents, Sl,000,O0O. He sold Maud s.
for $i0,0 900 last year. His ordinary ex-
penses in year, he has said, were
5000, 900, but his ball given in 1888 cost
him 800 extra. Mrs. Vanderbilt's
diamonds are valued at $4,000. He
wears none himself. A Wall Street
statistician, in referring to Mr.. Wander
bits wealth, said: "From his Govern
mcnt bonds he draws 1882, 900 year:
from railroad stocks and bonds. 1884,
900; from miscellaneous securities,
SJ76, sos; total, in round numbers, S1O,-
100000 year. His earnings are thus
S2S,000 a day, $1,000 an hour, and
1910 q minute.
This was year ago, when his wealth
was rcckoncd Mt $500, 00O,0 900. The
value of his securities has decreased
since, through the hard times. The
depression in trade has not improbably
reduced his wealth nearly $50, 600, 900 but
his fortune and his income are of course
still almost fabulous. Y. Cor. In
didudDolis Journal