The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-04-05

newspapers a costly table in an apartment mt
for throne room, he added by way of explana,
course this a harmless fable, but
some of the sycophanrs who surround him
deny that he ever uttered the famous express
sion: 1.-THE public be id" But while there is
no doubt whatever that he did make the remark,
a somewhat strained significance was given to 1t
for sensational purposes crowd of Chicago
reporters boarded his car short distance from
Chicago and questioned him about some com
plications which had arisen in connection with
the railroad freight pool. There had been trouble
among the railroad companies for some time, aud
Mr. Vanderbilt had declared that he would not
see the Baltimore & Ohio and the Pennsylvania
railroad strip New York of its grain trade for
the benefit of Baltimore and Philadelphia, and
that the New York Central road would carry
the fight if it cost So 900, 900. New York
merchants commended him for the stand he took,
though it was Of course recognized that he was
acting on strictly businesslike motives. After
number of questions had been put he was asked
by some reporter, apparently anxious to entrap
him into some foolish remark in an unguarded
moment:
'Mr. Vanderbilt, do you run your road for the
good of the public2"
1t was then that he impatiently made the re-
mark which has since become famous, adding:
I'VE run the railroads to make money" Under
like circumstances an answer of the same pur-
port, whatever might be the commercial enter
prise involved, would have been made by ninety
nine business men in hundred. There is no
reason to suppose that he is any more Indifferent
to tho claims of the public than the average bust
ness man. Whenever there is occasion for the
public to deal with capitalists like Mr.. Wander
bit, it assuredly should not be by means of
small nageing like this, but, II necessary
through legislative enactments, vigorously en-
forced. The small venom and spite with which
men of wealth are often regarded, especially by
persons of inferior intelligence, gives no addi-
tional dignity to the righteous contest against
the growing power of wealth in this country. If
it were possible there are few Of US who would
decline to become millionaires
There is reason to believe that the popular
outcry caused by the remark referred to gave
Mr. Vanderbilt, for time, some uneasiness.
He is, of course, aware that real estate, railroads
and government bonds have no value except by
the fact of people maintaining law and order,
and that the great body of the population in
every country, the mass of the people who fight
its battles, are either poor or only moderately
wellto-do and that to this popular sovereignty
the weathiest are indebted for their possessions.
V.
His fortune was at one time placed at as high
as 5000 600 900, but good judge lately said that
he thought $l50,0OO.0OO was now nearer the
mark
Still he is the richest man in the world.
None of the Rothschilds ever had anything
like his wealth. The banking business of that
famous house still, of course. goes on in London,
l.
of young men of the Rothschld family, and
its wealth has been distributed among quite a
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, 600, 600,
and some writer's have declared that Mr.. Van
derblt's fortune exceeded that of all the Roths
childs put together but this is an exaggeraton.
1t would not be at all surprising if Mr.. Wander
bits wealth should, before he departs this life,
fully justify such a statement, but for the pres
Al p,
as he does to the figures mentioned, and that he
is not only far richer than any single member of
the Rothschild family, but is, as already stated
the wealthiest man in the world. None Of the
traders of antiquity of which we have any
record none of the present financial baronS of
France or England. none of the moneyed princes
of Germany, Austria or Russia or OF the world
of haute finance anywhere, really compare
with him in point Of personal possessions. Old
John Jacob Astor with his fortune of twenty
million dollars was, forty years ago, the Wander
bilt of his day. but even after making due allow
ances for the greater purchasing power of money
in those times he came where near the enor-
nous accumulation 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 a year. In January, 1883, he
told friend that he was worth 1874 OOO OO0
England, the Duke of Westminster is said to be
worth 5000 00O, 900, but it is mostly in lands and
houses. 1t does not pay him per cent" This
unusual outburst of boastfulness on his
part. A year ago he had $54, 100000 in govern
ment fourper cent bonds, but the amount was
afterwards reduced to $35 900 900, partly for the
purpose of aiding his sons, who lost $40 000 900
by Wallstreet speculations. Later on, how
ever, he purchased about $40, 900. 900 more of
the four per cents, and he has besides ST. 000 600
in fhQ ont hat nov oyo<
His government bonds worth, as near as can
be stated, $40, 600, 000 He owned, a year ago.
FAC, 900 shares of Michigan Central stock, 3O0,-
600 shares of the Chicago d Northwestern, 20O-
Chicago & Rock Island road, 20 900 in the Della
ware & Lackawanna, besides some 10000 shares
in other railroads, so that in all, he held ap-
proxImately, $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 500. 600, 900 worth Of railroad bonds,
it is said, besides 49, 200, 900 worth of State and
city bonds, and has $4,000, 900 in various manu-
featuring stocks and mortgages. He valued his
house on Fifth avenue at So 00O 600, the art
gallery being worth with its contents, ST. OOO 900
He sold Maud S. for $4,000 last year. His or
binary expenses in year. he has said, were
5000, 900, but his ball given in 1883 cost him $4O
600 extra. Mrs. Vandcrbilt's diamonds are val
ued at $3.50, 900. He wears none himself. A Wall
bits wealth, said: 'From his governm emit
bonds he draws So 372, 900 year; from railroad
stocks and bonds, 81, 1914, OOO from miscellaneous
securities 1916 695; total, in round numbers
$40, $50 900 year. His earnings are thus over
$4,000 a day, 81, 200 an hour, and 1870 a
minute"
This was year ago, when his wealth was
reckoned at 5000, 100000 The value of his
securities has decreased since, through the hard
times. The depression in trade has not i'm
probably reduced his wealth nearly $50, 00O, 00O
but his fortune and his income are q course
still almost fabulous.
VII.
Some have questioned his business sagacity,
and he undoubtedly lacks the commercial genius
of his father but he has been shrewd enough
not only to keep what was left to him but to add
to it very materially.
HE is no fool" said a well-informed Wall
street man in referring to this subject ''He
was shrewd enough to sell $50, 900 shares of New
Il NJ CD g.