Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-12-09
VANDERBILT DROPS DEAD
At His Residence in New York
Yesterday.
THE GREAT RAILROAD KING NO MORE.
Jay Gould and Others interviewed Up-
on the Effect Of
His Death.

nate, dropped dead at 2:3O p. N. to-day at
his residence in this city.
J. Pierrepont Morgan said Mr..
Ysnderbilts death, would -hAYs littlsao,
no effect on the markets, that West
Shore negotiations would go on ss
before, and that cablegrsm had been sent
to London with information of his death
which no doubt would be received there
with great deal Of regret.
Commissioner Fink said Mr.. Wander.
bilt's death would have no effect on pool,
ing ss he has been out of the arrangement
for some time. No doubt the death Of
such prominent man would be felt as
great loss by the mercantile world.
Mr.. Henry Clews, said Mr.. Vanderbilt 8
death no doubt would have some effect on
the market as 1t would be used BY those
who always sought to made capital out Of
calamity, but that this would be of no ser.
ious character. Th,re was nothing to
fear.
Mr., Jay Gould, in an interview with a
reporter OF the Associated Press this even
ing, said: Mr.. VsrdGrbilt's death cc-
tainly was a surprise to me and a sad one
too. His death will be a great loss to the
world Of business and finance, for certain
ly he was the foremost figure in many of
the greatest enterprises that have been
carried out in this country during the past
twenty-five years"
"Iou have been intimately acquainted
with Mr.. Vanderbilt for many years, hsge
you notH asked the reporter. II first
became acquainted with Mr.. Vanderbilt
in 1867. At that time was President OF
the Erie r R and he vice President Of rhe
Hudson River R. r. found him a man
of vice resources and sound judgment.
Afterwsrd he became vice President of tie
New York aud Central and: figured extern
sively in. building up the business Of that
road. Our relations up TO the time of his
death, had always been Of pleasant char
acter.
What is your opinion CT
Mr.. VANDERBILT AS A FINANCIERY
Il have for many years considered Mr..
Vanderbilt ss q man oi unusual ability in
the management Of financial interests
When his father died and he came into
possession Of his vast fortune, Mr.. Wander
bilt was not long in demonstrating his
ability to manage the property which had
been entrusted to his care. He made no
move upon the chequer board of finance
until be tfelt satisfied that his move
Was o safe one 10 make. BE
would not run great risk unless absolute.
ly compelled by force Of circumstances,
which | assure you WAS not very often.
His judgment upon values was always
sound. Few men made so few mistakes
in handling nominal interests as Mr.. Van.
dsrbiIt He was rot bold yeniurer or
operator. He seemed to be satisfied with
email or at least fair return from his
investments, So long as they were sound"
Gould you give me an estimate of Mr.
Vanderbilt's wealth.
No. ] do not think am able TO give
anything like a fair estimate, although
have known him in a business way for a
long time. 1t is quite certain, however,
that he was by far the weslthiest man not
only in New York but in the entire coun-
try. He always maintained reticeRce
upon the value OF his property. Boastipg
10 that line was wholly beneath him. I
never heard uim so much as estimate the
extent Of his fortune"
EFFECT on STOCKS.
What effect will his death have upon
the stock market and especially upon the
stock of the New York CentralH
1T is safe to cay bis death will have the
effect of depressing the market, especially
those stocks in which he had large hold.
iugs. Those are New York Central, Lake
Shore, Michigan Central and West Shore
roads. Mr.. Vanderbilt had only $5,000,-
600 out Of S9O,OOO,OOO OF stock in the
New York Central Most Of the
stock was held by capitalists Of Europe.
You can see his holdings of this stock were
smaller than supposed by many. The
death OF the fnancier will, ! am quite
certain, have 10 other than q temporary
effect in depressing these stocks. The
property is all good and reliable as invest
ments. If tie market values OF these
stocks fall OF few points tomorrow, they
will 90 back again 10 their original value
in few weeks Should Mr.. Ysnderbilt's
holdings be thrown upon the market there
are plenty OF capitalists who would be glad
to purchase them at fair fgut2"
ne WEALTH.
Although bis fortune shraDE materially
through decline in stocks aad through
business depression, the bull movement Of
the past few months brought it up sgain.
His income aas calculated as follows:
1892 900 year from government bonds;
1894 900 from railroad stocks; $j7G. 695
from miscellaneous securities. Total, oSer
100000 q year or &c. go day,
81 200 90 hoar, OF Sl9 70 a minute
De made no osteptatious display o.
his wealth end WGs charitable although
this had to be quiet or be would have been
overrun by inpostors. he was tbrevder
in businets than many supposed be wes.
He knew enough 10 sell 10000 shArs' Of
New York Central Eve Jesra sgo ct I20
and buy government binds &! par.
m CONGRESS.