The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-02-20
a MANY M1Ln1oNA1RE.
afr,vandefb Colossal Operations Touch
ing thn stnrlaa Of MS Reeent Losses.

1 "A MANY MILLIONAIRE.
Mr,yandefbllvs colossai Operations Touch
ing the Stories Of his Recent Losses.
NEw YoRK, Feb. 10.-The oft-repeate,
stories Of Mr.. Vanderbilt's heavy losses b.
the decline Of stocks in which heis inter
ested, and the necessity Of coming to tn
rescue Of his sons, who have been dabbl
ing in the market, are rcyamped in th,
New York World, apparently for the pur
pose Of showing that Mr.. Gould has com,
out OF the decline to a better adyan
tage than the capitalist Of the Central
Even the widest stories told Of the lossel
I OF the younger Vanderbilt do not place
them at more than four or five millions
which Is probably an outside figure, and
butlittle more, and perhaps not half OF Mr.
Nm. II. Nanderbilfs annual income. The
basis Of all this system Of figuring Is
method Of calculation which Figures ou'
that a man owning large blocks Of railroad
stock upon which the dividends continue
unchanged is SO many millions richer OF
poorer every night, according as stocks &C
up or down on the Exchange.
MIR. Vanderbilt did own at one, time
iifty.one millions in United States fours,
which cost him anywhere from ton 70
fifteen percent below the present market
price. When New York Central began to
decline and Lake Shore followed. he sold
from time to time $40, ,000, 900 Of them, pre-:
snmabIy in order to sustain hisown stocks,
bnt,it. IA known now that he advanced four
or Ave millions at least TO the Central for
which he has since received the debenture
bonds, which nov sell above par. He
also undertook 10 put a peg into lake
Shore at 120. 1t&as Just about this time
that his brother Cornelius WIS very Ill,
and the market also looked. go sick, that
lhisbroker notified him thatifhe proposed
10 Ake the stock that was offered at l20,
lielihe broker) wanted margin enough in
which 10 take the entire capital stock OF
thefoad. The next day Cornelius died,
and'tiie old man was SO broken up. by the
news, that he did not come down town at
all got send down, and Lake Shore
syrnpathized with him SO heartily that 1t
broke down TO III I. Since that time, even
the shewtlest obseryeis on the street have
been unable to detect any disposition on
his part to accumulate any large amount
ot The stocks in which he was interested.
There IS no doubt but that he has quietly
purchased considerable amount, both
Of Lake Shore and New York Central on
theiway down, but hc has undoubtedly
sold ont considerable portion of iton
the fallica, 80 that lie has added compare.
uyely1ittle TO lis interest in these pro-
perlics within the last two years.
Within the past few weeks he has ap-
parentIy been satisfied that there was no
longer any necessity OF protecting his
stocks. but that they might be left to take
care of themselves, forhe largely increased
lis holdings Of Northwestern, and he also
purchased. four millions OF four.percents,
SO that lie has now within twelve millions
OF the largest amount that he ever held at
any Que time. 1t Is to he remembered
that New York Central is still paying diyi-
tiends at the iate OF six percent, while
Northwestern pays seven, and Lake Shore.
did not pass dividends until the end Of
this year, SO that at a rough guess he re-
ceiyed about million and a half last year
on bis Central stock, as much more from
his iour-percents, $500, 600 from North
western and nearly Q million from lake
Shore, sums which alone ag yregatc q very
tidy income, without taking into consider
alton the large amount received from In
terest on railroad bonds, OF which he issa
very large holder.
Asfor his losses In the coal properties,
liz never had as murl,1as $4,000, ,00p in
vested In Reading and got ont, of good
,lealofit with5ba slight loss. ~
Itisnot probable that Mr.. Gould has
been q very heavy loser in the decline, for
he has gone short Of the general market
whiIe supporting his own stocks, and thus
II and saved himself from much
los, ,bus his hoidsngss now show q very
heavy shrinkage and his investments out.
slda al the stock market are comparatively
He held an immense block
Of Wabash, stock, say about q hundred
shares, which can't be sold at
any price nov, and will inevitably be as.
sessel.
He also had lot OF Wabash Junior
bonds, for which there was no market,
and no matter how cheap he got them,
they could not be got rid OF at cost. His
Missouri Pacific Is all right, and Western
Union, Thought has suffered a decline Of
nearly Ave percent, still pays six percent
dividends. Bnt.he was caught in Union
Pacific when Tillen unloaded on him up
above 50, Just rs he Ind nnloaded Man
haitian stock on Field, and he had been
defeated in his effort to put out Mrs
Adams. As for The present drift Of the
possessions Of these two great capitalists,
L looks as il Mr. Vanderbilt was getting
ahead. One monthago Union Pacific and
Western Union were selling just where
they arc to-day, while New York Central
has advanced s percent, Northwestern 8
and Lake Shore 4, so that allowing Mr..
Vanderbilt to hold the number Of stocks
credited to him, they have appreciated in
value nearly three million in thirty days.