Evening capital. (Annapolis, Md.) 1884-1910, 1886-02-19
THE COMMODORE'S OPINION
OF HIS SON.

William II. Vanderbilt was stranger
70 Wall street for a year. Before the
great decline in stocks and other corpo-
rate securities began in 1881 his fortune
was thrice more than that of any other
man in the Western Hemisphere. Ii
footed up. IN real value, 500, ,U00, ,0O0
He actually lost in speculation in the
following four Years, il is estimated,
100000 600. In addition he sustained a
shrinkage in the value of securities held
by him of as much more, making a to-
tai decline in his wealth, according to
the best authenticated computation, of
from $75,O0O.0O0 to $S0,000.000. His
father, old Commodore Vanderbilt, left
$50, ,OO0, 900 in money, stocks. bonds and
other property. No man ever had such.
start in the world. That was not in
reality William ii. Vanderbilt's start,
but up to the time of the old Commo-
dore's death he had not been allowed to
demonstrate whether he possessed any
of the qualities of his father.
The Commodore never had much faith
in the ability of William III. The old
man considered his son good deal of
Ounce. In short, he was inclined to re-
gard him as blockhead
When the Commodore started to train
William III. for business man he went
at it in a characteristic way. He was
determined to compel the young man
to make his own way in the world, NJ
though he did not believe William ii.
had gumption enough to do it. He put
his SON on farm at New Dorp, Staten
Island, and told him he must earn his
Isrsn hap. frx
William III. the year round. He was so
pinched for money at one times that he
resolved to place mortgage on the
farm for $4,000. He went to a friend
of his, who was also friend of the
Commodore, to obtain the money.
Il can't spare $4,000. said the man.
why don't you go to the Commo-
dore?n
"The Commodore would not let me
have dollar no matter how hard up /
might be, . replied William ii.
..Well,' said the man, IL will 90 to
the Commodore and see il he won't help
you out"
The man sought the Commodore and
told him how much William was in
need of money The Commodore list
ened to the mans story, but when it
was done he said, without particle of
feeling:
II won't let him have dollar. He is
big enough to take care of himself, and
he's got TO do it. When was young
man like him did not have anybody to
go to and hand me out $4,000 every
time wanted it, and will teach him
that he can not do it. He has had a
Better chance than ever did, and it's
mighty strange if he can't make a liv-
ing"
s.Now, Commodore said the man,
William II. has got TO get this some
where, and you might as well let him
have it as anybody else"
He can't get o dollar from me- re-
torted the Commodore. "Tll tell you
what I'll do, though, if you want to.
I'll let you have the money and you can
lend it to him."
That was the manner in which Will
liam III. Vanderbilt received assistance
from his father when he was in need of
aid. When he inherited the old Com
modore's fortune he demonstrated that
he was endowed with great deal more
business ability than anybody gave him
credit for. The Commodore died in
1877. The fortune he left William H.
was more than doubled by his heir in
four years.
Leaving his lesson out of question en-
tirely, the increase at present over the
amount he received from his father is a
good showing. Jay Gould was never
actually worth over $6O, ,0O0, 600. VAN
derbilt lost more than Gould's total
wealth and still had twice as much
more.
Vanderbilt could not resist the recent
attacks upon his securities, which came
from all sides, and at last was compelled
to withdraw from the field. His sons
tried speculation. One Of them lost &8.-
100000 and another 50, ,00O, 900. A third
made money, but he did it by pursuing
q course exactly the reverse of that Of
his father and brothers He was what
in the nomenclature of Wall street was
called bear. He sold stocks for a de-
cline in anticipation Of decline, while
his relatives bought them from falling
in price. His profit in speculation is un-
derstood to have been about $1,000, 900.
His father ordered him. as.well as his
two brothers, TO speculate no more.
When Vanderbilt and his three sons
were all speculating at once the COM
missions paid to brokers by them
amounted to very nearly $1,000,O00 per
annum- N II Daily journal.
A London letter to the Boston 6drer-
s.s.. <~...l