Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1885-12-09

the business of that 7, ID. Our relations
up to the time Of bis death always had
been OF a pleasant character"
"What is your opinion Of Mr.. Wander
bilt ae huaneier?"
"Mr. Vanderbilt was man Of unusual
ability in the management of large hnan-
cial interests. When his father died and
ne came into possession OF his vast for
tune, Mr.. Vanderbilt was not long in DEM
onstrating his ability to manage the prop
erty which had teen .rtfisted to mis- care.
lie made no move upon the checker-board
of fnancss until satisfied that his move
was safe one to make. He would not
run great risk until he was absolute y
compelled by force of circumstances,
which, / assure you, was not very often.
His judgment upon values was always
sound, Few men. hare made so few niis-
takes in the handling OF great interests as
Mr.. Vanderbilt. He was not bold VEN
turer or operator. He seemed to be satis-
fed with small, or, at least, fair return
from his investments. SO long as they
were sound" =.
= Gould you give me an estimate Of Mr..
Vanderbilt's wealth ?"
"No, / do not think am able to give
anything like fair estimate, although
have known him in a business way for q
long time. 1t is quite certain, however,
that he was by far the wealthiest man,
not only in New York, but in the entire
country. He always maintained a reti-
cence upon the value of his own property.
Boosting in that line was wholly beneath
him. 1 never heard him so much as init
mate the extent of his fortune"
"Whst effect will his death have upon
the stock MARKET, and especially upon the
stock Of the Kew York Central Railroad ?"
1t will be safe to say that his death will
have the effect of depressing the market,
large holdings. These are the New York
Central, Lake Shore, Michigan Central and
the West Shore roads. Mr.. Vanderbilt
held only S5. .000, 900 out of the 500, ,00O, ,Ot0
of tho stock of the New York Central.
The most of the stock is held by capitalists
in Europe. You can see that his holdings
of this stock were smaller than was sup
posed by many. The death of the finan-
cier will not, 1 am quite certain, have
other than temporary effect in depress-
ing those stocks. The property is ssll good
and reliable as investments. Ii the mar
ket values of these stocks fall of few
points tomorrow, they will go back again
to their original value in a few weeks.
Should MIR. VanderbiIt's holdings be
thrown upon the market, there are plenty
of capitalists who would be glad to pur-
chase them at fair figure.
THE TALK AMONG THE BROKERS.
There was a good deal of talk at the
Windsor Hotel, where brokers chiefly re-
sort during the early part of the evening,
about large sales of the Vanderbilt stocks
at heavy declines from the closing QUOTA
tions on the Stock Exchange this alter
noon. The reports, when run down, were
fund to be greatly magnifed, and were
sales of few hundred sharc- or lake
Shore at % I" s,., out the price advanced
perore the crowd dispersed toss at the close
this afternoon. This was the pivotal
stock, but there vera two or three small
transactions in New York Central at 1880
l04. The immense crowd present, which
lar exceeded anything witnessed at the
Windsor his season, was accepted as an
evidence of the widespre ad interest taken
ny the public in the death of Mr.. Van
derbilt and the desire to ascertain what
the effect would be upon the market to-
morrow.
Absence OF any settled opinion was the
conspicuous feature of the talk early in
the evening, but as time gave an oppor-
tunity for an interchange of views, the
opinion became very prevalent that there
would be moderate break in the Wander
bilt stocks at the opening tomorrow, not,
however, to exceed 2 to per cent, and
that any support which might be found
necessary to prevent a more serious
decline, would promptly made itself mani
fest. There was conference outside OF
the Windsor among the leading operators,
but it is understood that an adjournmsn,
was taken until early tomorrow morning
without coming to any definite arrange
ments as to what should be done. Atten-
ton was repeatedly called tonight to the
fact that the death of Mr.. Vanderbilt
father had no material effect upon Wall
street prices and that it has been generally
understood for the past two years that
w. II. Vanderbilt had ceased to
take speculative interest in
the market.
EFFECT OF MR.. vAEDERBILr's DEATH.
]. Pierrepont Morgan sale that Mr.. Van
derbilts death would have little or no eff
feet on the market, that the West Shore
negotiations would 90 on as before, anC
that cablegram had been sent TO Londor
with the information of his death, which
no doubt would be received there with
great deal of regret.
Pool Commissioner Fink said that Mr.
Vanderbilt's death would have no effec
in the pooling ss he had been out of tn,
arrangement for some time. No doubt tn,
death OF such prominent man would b,
felt as great loss by the mercantile world
Mr.. Henry Clews said that Mr.. Wander
bilt's death no doubt would have SOM
fleet on the market, as it would be use,
| by those who always sought to make capi
| tai out of calamity, but that this woult
| be of a serious character there was moth
| ing to fear.
INTERVIEW WITH CHAUNCEY NJ. DKPEw.
The Sun mas the following: "Presiden
| Depew sa that the death oil Mr.. Wander
bi!t would IN no way alter the Management
| of the vast system of the Central and it
| big feeders. Mr.. Vanderbilt, of course
| mad prepared for the contingency of hl
| death. He has left a will, but nobod
could be found last night who knew wher
| it could be found, or when it was made
Mr. DepeE said that all he knew was tina
| a will was in existence. He did not kno,
where or when it was made, or who wer
heirs or legatees under it, except that it wa
certain that Cornelius and VIM. K. Var
| derbilt, who had charge of the Wander
| bilt system OF railroads and the othe
Vanderbilt properties since their father
| retirement from business, would be cor
stituted the mansgers under the will. tn
most trustworthy intimates place Nj
| Van6er5ilt's fortune at about $4,000
600. His principal investments, SO far 9
can be learned, are about as follows
Government bonds, $4,000 600; railwa
bonds, SS.000,000; New YORK Csntrs
stock, S5,OOO.O 900; Lake Shore stock, SIS
81 100000; Northwest stock, 5000
000. He also had a large amount
real estate and cash, to say nothing {
lesser interests in corporations not mer
| toned above. All of his estate has, a,
cording to good authority, been left
| trust. The trustees are understood to
| his idow, G. NJ. Dapew, Cornelius VaI
| darbilt, Hamilton Mex. Twombley an
John B butcher. The story was currer
last night that Cornelius Vanderbilt hel
q power of attorney to act for the estat,
| This was probably due to the fact tn,
Cornelius has for time exercised such
power for his father.
THE MARKET TO BE UPHELD BY -srRON
| SYNDICATE.
The best obtainable information Il
night is that the stock market will be VI
held through the efforts of a syndicate
| pool, headed by J. Pierrepont Morgan
the members of which have agreed I
take 100000 shares if offered, and ais
take care of prices in the London stoc
market, which is to open strong and |
close strong, with view Of favorsbly a
fecting the stock market here.
The Feeling In London.
LONDON, December 9.-The Times que
tions whether the Presidents message wi
occupy SO large q space in the though
of the world ss the death OF Mr.. Vande
bilt. 1t says thousands will speculate 4
day upon the results of Mr.. Vanderbilt
death with an eagerness which events
|