The Republican. [volume] (Oakland, Md.) 1877-current, 1886-12-11
JOHN JACOB AsToR.
How Americas Richest Man Invests His
Millions of Idle Money.

Millions OF Idle Money.
The title of "Richest Man" in
America is not held continuously. An
Astor, after losing it to Vanderbilt,
has now regained it.
John Jacob Astor, the richest man in
America, is tall and vigorous at over
sixty years of age. and if he were a
poor man, or only moderately wealthy,
he would not have made himself undtly
conspicuous by limp. This defect in
his gait is the result of possessing a
carte blanche on the gooi things OF
the world, eminent among which are
champagnes and ancient Burgundy.
A liberal indulgence in the ornamental
varieties OF foo and drink has induced
govt. In appearance he suggests the
typical Englishman. His face is ruddv
and full, and is embellished with long
side VIII skerssof a re idish 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 co lar
somewhat in the Duudreary style. His
eyes are sub lued gray. His figure is
erect aud stalwart, and his dress fash
ionable but plain.
After his own notions Mr.. Aston lives
economically. He does not stint him
self at the table and he has two or three
boxes at the opera, but as he does not
work either for his living or the extend
ing of his estate, he finds it advisable
- waste not a 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 a hired coupe. His kilograms
| are "skeletonized," and in other trivial
ways he acts upon the penny saveI
penny earned theory. No one can tell
the amount of his wealth to-day He is
very slightly Interested in stock COM
panies the Western Union Telegraph,
the Delaware, backawanna d Western
railroad, the Chemical Bank and few
other concerns interest him; the over
whelming bulk of his pro 1erty is in real
estate on Manhattan Island or just
across the Harlem in the annexed dis
trict More than half of this in value
is south of Cham berS street, or in dis
trict Just mile long on its longest
diameter, In it is the Aston House,
modestly estimated at $1,000, 900. and
numerous blocks and buildings along
Broadway and Wall street. This part
ofhis property pays at least ten per cent.
per annum, and its value varies only
slightly from year to year 1t is from
the vast tracts of land in the northern
part of the city that the increase to his
txyoa1tl II - a
ting aside what he can spare from his
rent receipts for the purpose of invest
ing in more land 1t is said on good
authority that sum amounting to
1000, 900 in cash is kept on deposit in
trust companies for new purchases
whenever a good bargain is secured.
The condition of his property makes u
favorite topic for the political econo-
mistsi 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
landlord has not signified any inten-
ton of ''whacking up with the repro
ductive public. He is beneiitng stead
lily by what John Stuart Mil called the
"unearned increment of wealth" and
: bids fair to be before his death richer
than any man who ever lived.
When William H. Vanderbilt was alive
he overtopped John Jacob Astor, but
the railroad kings death caused such u
subdivision of the property that the
landlord is left way ahead of any COM
petitor. His brother William, strug-
Cling real estate speculator worth
about $1,000, 900, does not come as
near to him as Jay Gould, and. in fact,
stands just about even with Cornelius
| Vanderbilt. William handles his BUSH
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 Aston property
in common. The disparity in their
fortunes was the result simply of in
heritancc. Their father, who inherited
the bulk of the old fur-traler's (John
jacob money, invested it in real
estate, and left two thirds of it to his
eldest son, the present John Jacob. A
striking feature of his wealth is that
most of it is uninsured. There is so
much of it that the occasional total
loss of a house or two, or an entire
block, amounts to less than the premi-
ums to be paid annually upon the
whole.
Mr.. Aston is qualified for the title
Colonel" In the war of the rebel
lion he served on General McClellan's
staff as Aide-de-C Camp, with the rank
of Colonel. He was volunteer, and
served with honor His wife WAS a
Miss Gibbs, of Charleston, S. c. They
have one son, William Waldorf Aston,
who has accomplished little in poll,
tics, literature and art. A safe esti-
mate of John Jacob Astor's wealth
to-day is $3.50. 000,000. When Peter
Cooper was alive he estimated tho
property at $3.50, 900, 900, and the silent
increase, without the new investments,
would bring the figures up to $780,
100000 and over by this time. ~ Y.
Cor. Philadelphia Press.
~