Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1886-02-18
JOHN yACOB EsToR.

The original John Jacob Astor was born at
Waldorf, Baden, In July, 1853, emigrated to
London, and in 1888, crossed the ocean for
America. He had very little money, and beat
furs for 50 a week in this city for a long time.
Finally he quit beating furs and took to beat
Ing the Indians, finding it more profitable, and
when he started out In 1856 for the Senecas,
Mohawks, and Oneidas, with a pack on his
back, and returned laden down with furs
which had cost him little or nothing, his for
tune was open before him, and for maLy years
thereafter the poor indian dealt extensively
with John Jacob until In 1880 he retired with
fortune of $4,000, 600, at that time the great
est fortune on the American continent. The
original John Jacob was not a generous man
outside his own family, and many stories are
told Of his seitishness even after he became
wealthy.
One Of these stories goes that . captain Of
one of his fleets of ships in the Chinese trade,
having been notified by the insurance com
pany that he ought TO have a chronometer on
board ship spoke to Mr.. Astor, who advised
him to buy one. The Captain being poor, de-
INJURED, unti1 finally Astr told him to buy 1t
and charge it to the ships account. This was
done, but when the accounts were looked over,
Aston refused tn pay for It, on the ground that
II should be paid for by the Captain. The
Captain became disguised, and going over to
rival firm offered his services, and started out
for China two months afterwards, and after
his old ship had sailed under another captain,
for the same port. He had such success that
he arrived in New York seven days after As
tors ship did, both vessels loaded with tea.
Astor not expecting any vessel in port had not
opened bulk yet, and the other vessel coming
In at night Immediately put all the crew at
work, and by morning were ready for the auc-
ton, on the wharf the then means Of dispos-
ing Of cargoes. The market was glutted, and
Astor lost $4,000 by the operation, but he
took the Captain back into his employ again,
and 1t taught him lesson in thermometers
that he never forgot.
He was a very shrewd trader, as well as a
close one, and story is told Of how he man
aged TO send one Of his ships to China in spite
Of the embargo Of 1S07-9, forbidding it. He
procured the sanction OF President Jefferson to
take back to China the celebrated Chinese
mandarin, wishing to return to his own coun-
try, and then secured nome Chinese dock loaf
er, dressed him up as a celebrated Chlnaman,
and thus eluded the embargo, and sent his
ship Beaver away laden with goods for the
Chinese. This occasioned great indignation
among the other traders, but II was too late,
and when the ship came back the next year
with cargo worth a million more than she
started ont with, Astor's reward was paid in
full for the scheme
John Jacob was a great believer In the future
Of New York City, and was very shrewd
buyer Of real estate. This was the true secret
Of his immense wealth. He bought lots just
outside the edge of the city, and kept this up
for years, following the advance of the city
limits, and tbvs finally became one of II not
the greatest holder of land on the island. In
1910 he sold lot on Wall street for 8, 600 that
was supposed to be worth little more. After
the papers were signed the buyer chuckled and
said, "Why, Mr. Astor, in few years this lot
will be worth $4,000" "Very true" said
Aston, "but with this 5000 can buy eighty
lots up town above Canal street, and BY the
time your lot is worth $4,000 my eighty lots
will be worth eighty thouss nd dollars" and the
result proved his estimate correct He bough,
J Aaron Bur's Richmond Hin estate, paying
$1,000 per acre for 100 ceres and in twelve
years, the property wss worth ten times the
amount in lots. This was the case In most oil
bis transactions in land.
Mr.. Astor had an abhorrance OF ostentation,
dressed very plainly, and Gas worth his mil
lions before anyone suspected it. dandy
bank clerk having expressed his doubts as tc
Ihc sufficiency Of his name to piece Of paper
Mr.. Astor asked him what he supposed he was
worth. The clerk mentioning moderate sum-
| Astos then asked him what he supposed Other