The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1885-12-15

Vanderbilt DROPS Dead
1t His Residence Id New Fork
iesterdat:
rhc Great Railroad King no Moro.
ii4
Jay Gould and Others Intertic5sea
Upon the Eject: OF His Death.
Ntw YoRK. Dece mher S.-Wm. Fl
v lii, the mjllionaire railroad mag.
nate, dropped dead at 2 80 p. % :, to-day
at his residence in this ty
j. PlerIepent Morgan said Mr. Van,
derbilt's death VI uld have little or no
, feet on The markets, that West Shore
neeo ls,ions would 20 on ss before. and
that cahiesrsfn had been sent to L,,.
don @i'h Information Of his death W, ich
no douut would be rctiy,d there with
q efeat deal Of reeret. a4
Comniasi ,ner Flax. said Mr.. Wander
bih's death would have no effect on
pooling As be has been out o. the ar
range tnrnt tor come time. No doubt the
death I, ( such prominent m m would
be felt as great loss by the mercantile
world,
Mr.. Henry Clews, Raid Mr. Vsnder.
bill's death no doubt would have some
effect Oh the market ss il would be 10 d
nv ihoae Who always sought to make
capitsl but Of calamity, but that TIL.
would BE of no serious character. Thef.
was to, hing to fear.
Mr. jay Gould, in an ter lev With 9
reporter Of the Asso'lsted Press thia
ev ming. ssid: "Mr, Vandertih's death
Certainly was q supple to me, and o sad
one too. His death viii he a great lose
to the world of husiness sad finance. for
certainly he was the' f'.femost figure in
many Of the greatest enterprises ,hsI
have been carried out In this country
during the past twenty five years."
fon hsve been intimately scquainted
with Mr. Vanderbilt Tor many years. have
YOU nut2" asked the reporter II Gre,
tecame. Ct ctq,ainted with Mr.. v ,Bderbilt
in 1867. At that time was President
OF the Erie z. r aid he vice Persistent
of the Hudson River R. r I found
Tim man Of vide resources and sound
Judgment. A terwsrd be became We
Pr sident of the New York and Central
aud figured extensively ip building up
rhe business OF that rosd. Our relations
up to the time OF. his. .desth, had alwsys
been OF Q pleasant chsrac,et
"Whstis your 6piiiion Of
Mr. vAEDEKB BILT al A ffNANcfEa -
II have for MANY years consiiefed Mr.
Vanderbilt as man Of unu-ual abil,ty
IN the management OF financial inset e
When bis father died aud he came into
pos ssion OF his vast fortune, Mr. Van
derbilt was not long in de thonstra,ins
his ability to manage the property wbici
had been entrusted 10 bis care. He mad,
no move upon the chfqner board O.
finance until he felt satisfied that hi
move vas safe one 10 make. He would
mol run q great risk unless sbsoluteI,
compelled ny force of circum.tances
which assure you wss not very often
His judgment upon values was AWAY
sound. Few men made so few uistske,
in handling nominal interests as Mr.
Vanderbilt. He was not bold venture
or operator He seemed [, he satisfied
with email or at least a fair returI
from bis investments, SO long as the,
we're sound"
Could you give me an estimate o
Mr.. VanderhiIi's *es ~"
mo. / d. not think | an able t.
give ANYTHING like fair estimate, al
though have known bim in a bus ines,
way for long time It is quite cerisin
however, that he wss nv fsr The weskb
lest man not only 10 N,w York but il
the entire cnuntry. He always main
.sined reticence upon the value cf hi
property. Roasting in thst line wa
wholly beneath him. never heard hin
so much as estimate the sxteat of hi
fortune e
EFFECT ON STOCKS
"What effect will bis death have upol
the stock m srkst AMI especially upoI
the stock of he New York Cenlra ?"
"Itis safe to say his death will nav,
the effect of depressing the marke', es
peclally those stocks 10 which be ba'
la ge holdings. Those Gre New Yorl
Ctn,ral, Lake Shore, MHhipa, Contra
aud West Shore roads. Mr. V,nder
bilt bad only $1,000 600 ont of $50. 600.
900 of stock In the New York Central
Most of the stock was held nv capt,l's'
Ct K irope. You can sre his holding,
Of this stock were smaller than suppose,
nv manv. The death Of the fiaaaciel
will, | ain qnite certain; have no othe
than temporary effect id depressing
these stocks, The propertyis all goot
and reliable as !uves'thents 1.-THE mar
ket value. OF these stocks fall of a feo
points io-morrow, they will go bacl
again 10 their original value in a fes
weeks. Should Mr. Vsnderbilt's held.
ings be tbnwn upon the market ,be'
are plenty Of capitalists who would b
glad to purchase them q. fair 6gure"
MS WEALTH
Although his fortune ,shraak ma.eri'
ally through a decline IN stocks ans
through business. depression. the bul
movement Of the past few month,
brought it up again. His income wa
ca culated as follows: S2,372 0n0 a yea
rom government bonds: 81 394 ,oot
from railroad stocks; 1876 B95 from
miscellaneous. securities To,al, ovei
$40 100000 a rear or S2S 600 dav.
81 200 an.hour. or sl9,76 minute. He
made no ostenlaiiops display of his
b~eslrh and wss charitable, although this
had 10 be quiet or'he would have been
overrun bv impostors He ives shrew-
der in husiness thsn many supposed he
was. He knew SnoneTto cell $50 600
shares of New York Central Eve years
ago at l2O and buy government bends
at par.
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