The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1886-12-09
JOHN JACOB AsToR.
How Americas Richest Man Invests His
Miliione OF Idle MOpsv.


America is not held continuously. An
Astor, after losing 1t to Vanderbilt.
has now regainod 1t.
John Jacob Astor, the richest man in
America, is tall and vigorous at over
sixty years of age, and II he were a
poor man, or only moderately wealthy.
he would not have made himself unduly
conspicuous by limp. This defect in
his gait is the result of possessing
. carte blanche on the good things OF
the world. eminent among which are
champaign and ancient Burgundy.
A liberal indulgence in the ornamental
varieties of fool and drink has induced
gout. In appearance he suggests the
typical Englishman. His face is ruddy
and full, and is embellished with long
side VIII skcrs of re ldish gray color.
These whiskers are not allowed to
grow directly out from the cheeks, but
by persistent brushing have been
trained to hang down over the collar
somewhat in the Dundreary style. His
eyes are sub lu d gray. His figure is
erect and stalwart, and his dress fash
ionable but plain.
After his own notions Mr.. Astor live,
economically. He does not stint him
self at the table and he has two or three
boxes Mt the opera, but as he does not
work either for his living or the extend
ing of his estate, he finds it advisable
to waste not II penny on business lux
uries. He rarely rides when he can
walk, and when he rides it is in public
stage If one is available rather than n
his own or hired coupe. His kilograms
are 'skeletonized," and in other trivial
ways he acts upon the penny saved
p 'nny earned" theory. No one can tell
the amount of his wealth to-day. He Is
very slighly int ,rcstnd in stock com
panies; the Western Union Telcgra h,
the Delaware, Lackawanna Il Western
railroad. the Chemical Bank and a few
other concerns interest him; the over
whelming bulk of his pro )erty is in real
estate on Manhattan Island or ju t
,ross the Harlem in the annexed dis.
trict. More than half of this in value
is south of Cham ,ers street, or in dis
trict Just mile long on its longest
diam ter, In it is the Astor Ho ise,
modestly estimated at S2.OOO,00O, and
mum ,rous blocks and bald ngs along
lsroa lway and Wall street. This part
Of his property pays at least ten per &C 1t.
p,r annum, and its value varies only
sli shtly from year to year. 1t is from
| the vast tracts of land in the northern
part of the city that the increas, to his
| wealth comes. He is constantly put
ting aside what he can spare from his
rent receipts for the purpose of invest
| ing in M )re land. 1t is said on good
authority that sum amounting to
| 5000. .0J0 in ca 'h Is kept on deposit in
trust companies for new purchases
whenever a gooi bargain is secured.
The con iition of his property makes 1,
favorite topic for the political ccono-
mists; every child born in the city adds
to his wealth. 1t is the increase Of
population alone that makes Mr.. Astor
richer. As yet. however. the great
Ian llorG has not signitied any intcn-
ductive public. He is bcnetiting stead
lily by what John Stuart NJ II called the
..unearned increment of wealth. and
bids fair to be before his death richer
than any man who ever lived.
When w liam H. Vanderbilt W IS alive
he overtopped John Jacob Astor, but
the railroad kings death caused such a
sub iivision of the property that the
landlord is left way ahead Of any COM
pct tor. His brother William, strug.
Cling real estate speculator worth
about $4,000, 900, does not come as
near to him as Jay Gould. and, in fact.
stands just about even with Cornelius
Vanderbilt. William handles his busi-
ness on the same plan adopted by his
richer brother. Their offices are to-
gether, and many people suppose that
they own most Of the Astor prop ,rty
| in common. The disparity in til ir
fortunes was the result simply of in.
heritance. Their father, who inherited
the bulk of the old fur-tra ler's (John
Jac BY money, invested it in real
estate, and left two-thirds of it to his
eldest son, the present John Jacob. A
striking feature of h 3 wealth is that
most Of it is uninsured. There is SC
much Of it that the occasional tot Il
loss of house or two, or an entire
block. amour s to less than the premi.
ums to be paid annually upon the
whole.
Mr.. Astor is qualified for the title
Colonel" In the war of the rebel.
lion he served on General Mc.'lellan'.
staff as Aide-de-C Camp. with the ranl
of Colonel. He was \ volunteer, an
served with honor. His wife was q
Miss Gi lbs, of Charleston, ). e. They
have one son. William Waldorf Astor
who has accomplished a lit G in poll
tics, liter,tur, and art. A safe esti
mate Of John Jacob Astor's wealtl
to day is Sl5O.OO0.OO0. When Petel
Cooper was alive he estima ed the
1 property at sl3O. 900. 900. and the silen
increase, without the new Investments
would bring the figures pto $3.50.
600, 900 and over by this time. y