The Portland daily press., 1885-12-10
vANDERBILT's DEATH.
How the Sad News was Received in
the Metropolis.
Field, Could and Sage Meet to Bolster
Up the Market.

NEW YORK Dec 9.-The death of William II.
Vanderbilt was not generally known until this
morning The reports last night were not cred
ited and the fact that the family desired secrecy
In the matter and that all the details had to be
filtered through Chauncey NJ Depew, caused the
report to be discredited. There were two centres
OF interest in the city today one was wan
street, and the bankers and brokers fiocked to
their offices early, fearing that there would be
big drop in the price of stocks. The other centre
was the Vanderbilt palace on Fifth street. Each
passer by stopped and gazed up at the closed
doors and the windows, and the room facing Fiji
ty-hfth street, where the body OF the richest man
in the world lay cold in death, is pointed out to
the curious,
kilograms and letters of coincidence poured in
upon the family all day. Only few Intimate
friends were admitted The undertaken and his
assistants passed into the house through Slde
ioofa vent on tiptoe upstairs to the champer
of DEATH A knot of ruSo Y crane on the door bell
told the story of the sad end Of the masser ct the
house. The intimate friends of the dead money
ng6t MJ far into fbe mornng III discussed his death
and the effect it would have on the stock market.
The fact that Jay Gould, Cyrus W. Field and Rus
sell Sage met in the formers house last evening
and held long conference gave rise and import
ance to the common ruIn0r that they were afraid
the stock market would break at the opening TINS
morning, and there is no doubt but that steps
were taken at the meeting to bolster up the
market in case of a serious decline.
IL
fear of death, and he had put his affairs in such
shape that his sons and sonS-in-law could carry
on his vast business without trouble, 1t is not
believed that any one of these sons will be abso-
lutte. Vanderbilt had great faith in Chauncey NJ
Depew, and the burden will be on his shoulders.
Depew is noted as g. very shrewd business man,
and what he says will be law to the heirs. He
will have much the same position of trust in dis
posing of Vanderbilt's fortune that Judge Hilton
had in the case of A. L. Stewart.
OF the three sons, Frederick Vanderbilt has the
most business ability. Cornelius and William X
They will be Controlled by Depew Elliot F. shep-
hard a son-in-law, who brought Lord COleridge to
this country couple OF years ago, is lawyer OF
ability, and Hamilton Mex. Twombly and Dr.
Seward Webb, the remaining sons-in-law, are
noted for their business aeumen.
1t is the opinion Of Wall street men that the
Vanderbilt name will soon be lost in Wall street
and new man will assume the management Of
the Central 1t is limited that Jay Gould would
by Vanderbilt, and the sudden death of the latter
may change the plans of the Wall street wizard
to retire on January 1st. OF course this Is idle
speculation, and probably has no foundation in
fact, but it is given as as an indication of the talk
heard everywhere today mp town and down.
Before 10 O'Clock the Stock Exchange galleries
Men and Women crowded into every available
space, and horde of policemen were kept busy
preventing crowding. The exchange floor as seen
from the gallery resembled mass OF struggling
men and boys. At 10 O'Clock sharp the chair
mans gaFel fell and the days work was begun
The market opened feverish. Out OF town Gus
London that a decline of 1@118 on all
American securities had taken place did
not in any way tend to re-
store confidence. Western Uunion Shares, which
last night closed for 70, opened at 1919, but raj
lied in few minutes to IA. New York Central,
which closed at 1O5, opened at 1929 and rose to
103: Lake Shore closed at 88 last night and op-
ened this mornin at 8512. Northwest closed at
1101s and opened at 108. This gives an idea of
the decline. AT noon the excitement had subSd-
ed andthe market was quiet. AT that hour it was
thought that the worst was over and there would
be no panic.
Chauneey NJ. Depew tonight said that at the fu-
neral of William H. Vanderbilt which takes place
on Friday, the following named gentlemen would
act as pail bearers: Samuel F. Barger, c. NJ. De-
pew, J. Pierpoont Morgan. Chas. g; Clark. Judge
Charles Ropaller, Judge j. P. Brady, William
Turrell, William L. Scott, William Bliss, d. c.
Mills, George J. Magee and s. d. Caldwell. The
funeral will be held in st. BarthOlemew's church
and admission will be upon presentation of tick
cts which will be issued tomorrow.
Judge Ropaller it is said drew the will of Mr..
Vanderbilt and its contents will be made known
Friday afternoon. William X. and George Van
derbilt are tonight keeping vigil watch beside the
remains of their father.