New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-12-09

g5 10 os for the stock The next year lie accomplished
the feat of dutng the capital with so per cent Of water
| carving away from the office OF Horace r.
Clark az midnight cool $4,000 900 his share oi the
IDEAL" In 1869 the Central and Hudson River ROADS
were consolidated and in the articles OF consolidation
| William II. named vice. president Of the new com
pany He thus became an Interested witness 0i "hother
Of tho Co nmOdore's noted achievements In railway
Central waered of 80 per cent aud the cap
ial Of Hudson River road watered to the amount
of 80 800 900, of water added UNI
der the consolidation act, $4,000 81 absolute wa'r as
Charles Francis Adams. Pouic!"
each mile of the road between New York and bnuiio
IL thus carly IN his career that william H. ma tuo
lessons OF modern American railway hlhh'He-
ment brought to his attention
It was only in one phase Of his fathers methods no
ever, that his active province lay Combination anu
stock.whtering were tho two clements lnat
male up the general plan OF the Commodore
campaigns but world OF skill and WISDOM
was necessary to It's success After securing a
road his frat aim to mako It pay
dividends; his next to shut OIL compe-
titou IN the details OF the management he brought
to bear the policy which had characterized bis running
OF steamboat and steamship lines. All leakage was
stopped ornaments stripped from locomotives
extravagaUce was checked idlers were discharged
nothing was wasted depo;s were built; tracks were
doubled ami business developed by the ENCOURAGEMENT
OF traffic in many ways. The election of William H.
Vanderbilt as vcc.presidcnt Of the owYork Central
ard Hudson River road made him the actual executive
officer OF corporation OF almost unFivallei wealth
ana power. Nearly $lOo,OOO.OOn OF capital was
represented by the enterprise which employed
adohbe track ot 100 niir ~ it' man ilncs ne he
policy which William H. put into execution was me
policy OF his father bis the oversight ami tho
general direction oil the Work
sUCcEEDISG TO HIS FATHERS POWERS.
In this rc;ntou TO father william H. remIned mp
to the CommodOros death, when he succeeded 70 the
presiIcncy OF the Harlem the N-w-lork Central aud
hudson River and the Lake shore and Michigan south.
eru control OF the Lake shore having been acquired
ia 1873. 800 $500;
Coma odorc Vanderbilt died on January I. 1877. ana
when hi Viii was produced 30 t. csnrrogttr" our iu
public suriniso for long time was truly the case
E,ary as ii aiicrward turaed oui OF sIa
wealth then yarlOusiy estimated at FROM @oooOpOOO
100000 but IN fact even more. Was lett to VIZ
lam II. The requests 10 ali other persons amounted 20
only $1,000 GOO. computing railway shares ath'r par
49,, II Cnrrelins Ar 4, .rnudftther's naule,ase
and fayoritc RECEIVING much The largest share Cor
nrius j. unfortunate Secct son OF the tc-ta"r was
crt n Nth m. income from 800 900 This unequal dis
tfbution OF ComnodoIt enormous estate gave rise
10 contest Of the VIII, which was cuihir"mI-od "to
the case had gone 70 and which vas whio II lasted
tho greatest social sensation of tie day There !.
$50 doubt but that the viii. IN spite OF
determinations, represented the intentions q" the
Commodore eight years uciOrc his death ~ u
shown by the fact that the Sauo feature appeared ~
OF wills thar preceded me l'st 10 me modest
ea r,ts made 10 sisters William Il. added personal
gf OF half million dollars cach driving FROM h'u-e 70
house evening and delivering inc Jones aiI ,o,A
specified n the will, AMI counting ont the additional
$500 900 bonds that had come To- him under the VIII
Prom the beginning oil l7'' w Tue it OF ~ tnc
business history or Mr. Vanderbilt was the history OF
tered possession at the great properties Tine 81
unusual ACTIVITY IN Railway matters. Contrary TO ms
his lines out-ide tho state Of Ncw plans which
he left uucomp!etcd hllto be Carried out by h7 sn,-
Hyerse TO an extension OF his -ysom beyond bulhlo
" H. you begin TO 20 Vet he Sold say you'l have
Lake shore vas forced uEon1 ,,r MN i,oropSS the
Clark. who had bosercd the stock tho market on hi-
rcpu alton a. a sOnlu-!tS OF tue railway HlhH. lie
died suddenly in s7 ANA the Commodore toani MN.
sol ttl rpIlt 10 -,
that the safest IN wuich {" do ths was to bus H.
III! in'' ncqn.i,ion o. tho c1nada southern ana
Michigan Central roads, which was a,'"innli'h'd
under the administration u William H. Negotiations
Tor the control OF the Cau1dn Southern had brguu To-"
the Commodore died. IL Wa himself reported 20 b"
large holder OF ~ bands which, hpTeNct mi no V"lns
poHcs. Tho road was completed IN So'Inovr'
l~'j. ana soon "l''I 'el'",'l on """' '"'
Nura Central to Mr. Vanderbilt Ia consideration "i
paying the dc't OF me ,'n"uA ron',' ~ was s''n
majority oI The stock ~ S'W"un T. Ie'' a JON, ''''
lult-c representing the ~" companies agreed upon
bass Of ,eIazou. tho oil honu' bang exchanged
for NEW BEARING per c-h- 'h' '-i ipr 80 tl' t
thereafter. the interest ou the n"w issue being
road The Michigan Central w'- purchased ia open
market The operations oftnc Clnait southern are IN
10 form t. Canadian law separate orsaniL''l"n II
maintained These auK,liArc4 II the Nandrrn ,(slcm
becau" 81 tue acquisition Oi the Great
Western by tho Grand Trunk
LEADING EvENIs or MS RAILROAD CARErE.
The year 1877 further sisuailci by the vigorous
warfare wcabound freight rates between the trunk
vs. hld
Yors - Clmuls-uner ~ the Trunk Iiu" Pool Albert
Pink WI, has since ai.rr GREAT labor, succeeded u
brinug order OF tlc ttrn chsb' watch bal r.ish'd
Tor yrtr-, and ptuD,iIur tu ORGANIZATION Nh'H' NI"'
it n,y have COS, shipper, heavily by Ii,co1ritH- r"-
road wlr- sayod millions ol dollar 10 tho trunk "'
couI.uc..
I'M, war vas hardly ovur before the railway srrhc,
md riots BEGAN ono OF tao rc-Ilt. 81 tnr d-pttinI-
emitting Of rates hal boon That tho cpmpani', were
ululIc to maintain their scale OF wages, ana the
Nrw.Nork Central had 20 Juy made q reelection
IA wages 81 10 per cent There were 900 meu ln the
employ Of tlr Newton Central ami liudson River
runway and r,tur apprehension was c.t iu view IL
the .,,r condition oI tho working classes mat trouble
ma t rrsuIt from reduction Mr Nand'tniIt was at
tn lime n -iIato,a. one day IN August u.t "'.oro
threatened attack tho Grand tcntrM Depot lac
.rt,,pouc,l some directors ana officers To- him and
cunfrrrt! with Them over pan that WIS nt one" p't
INTO execution. lie t.uf out uy tc.r-taph q iior!tut
ti,, mn I. Neg-Yara C,,tt 81 ana IIli,ou ly,r Eu-
road company would gave IT. cmpuyr- Sloo.o"o rat
aJy except 10 the executive departmental ahd ctFr"
o,c- Al the same tiiuc uc promised restoration %
the 10 per cent A. soon of the road lusu
lied tine action. out OF the 1000 mon l'-r tith '"p
gave trouble and tho Old wages were eventually Ic-
l., November. 1879 Vt. Vanderbilt IN the pursuit or
his poucy rrotcctE, his system from tho Assaults "i
s rivals and l-O Tor "a. Purp"s" 90 changing me
character Of large fraction oi hl' investments made
tie largest saI' "i il. "'J -i"'h 'N'i mt. ~ 49,
owner. Toa syndlcAt" representing chiefly lhc NaO7
5s.g@' ""' SOLD 25oooo SHARES Of ccntr, -o1k
lie was known TO hod ho the tiuIc at lc'~' 'nuJ'
sudis-, inc mail tt thrh rlopd, Itil''f'"
wealth OF 2OUOUOO. The stock bad not hcru seen on
tho DudOI Board for nearly fifteen Year. ahd IL was
felt that desirable tudt II should DE there t~4d
there was danger OF rupture an the traffic agreement
between the teutra aud WABASH sy-tcms. Inc idtt't
system having been extended short un" ucl'i'
aud through freight being prize FOR when an "''lNr
competition among the trunk lines was 10 %" tAL'r"-
The purcha .lng syndicate composed 81 j. = Moran
q CO., Of London. DIeNel, Morgan Co, August u H-
mont T. Van Hoffman 4 Co, Morton. bu'~ ~ w.
Mins.ow iA,nor ~ co. Edwin -. Morgan, cyrus ".
Field Jay Could Russell Sage aud others. THIS pndl-
rIe io"E the $50 900 shares at 10 which 10 bs-
low The ruling price 10 the market. The negotiations
V.,rc carried on for several weeks with great secrecy
There WAS "a disagreement about the extent
OF tho syndcate's approximation ~ W,
directory OF tho Central. ana demand
that Mr. Vanderbilt should not place any -'ock on me
market for q year I'm IEiHTNE announced ,he. pen
deLcy the eSOtatiOn- "n November y ana tn'tt,
H. cncc 6 great sensation ia Wal -ir e. Tue NUN
o! the report repeatedly q Ychrmruily d,l' IT, uut
nve days later Mr. Vanderbilt yielded both ot tho
contested uotnts aud thc agreement WAS closed
the Official announcement OF the great sac Wa not