The Abilene reflector. [volume] (Abilene, Kan.) 1883-1888, 1886-12-09
JOHN JACOB ASTON
How Am IS 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 a Vanderbilt.
has now regaihed 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 MOI have made himself unduly
conspicuous by Il limp. This defect in
his gait is the result of possessing a
carte blanche Oh the gcoi things of
the world. eminent among which are
champa mes and ancient Burgundy.
4 liberal indulgence in the ornamental
varieties of foo and drink has induced
govt. In appearance he suggests the
typical Engiishman. His face is rudy
and full, and is embellished with long
side VIII ;skers Of a reddish gray color.
These whiskers are not allowed to
grow directly out from the cheeks, bui
by persistent brushing have been
trained 70 hang down over the collar
somewhat in the Dundreary style. His
eyes are 4 subIued gray. His figure is
erect and stalwart. and his dress fash
ionable bat plain.
After his own notions Mr.. Astor lives
economically. lie does not stint him
self ut 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
IN - Ct l-r- l,N-
urics. He rarely rides when he can
walk, and when he rides it is in public
stage if one is available rather than in
his own or hired coupe. His kilograms
are '.skeletonized, and in other trivial
ways he acts upon the penny saved
p snny 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, Lackawanna & Western
railroad the Chemical Bank and few
other concerns interest him; the over
whelming bulk of his property 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 Chambers street, or in dis
trict just mile long on its longest
diam ter, In it is the Aston House,
modestlv estimated at $1,000, 900, and
numerous blocks and buildings along
Broadway and Wall street This part
ofhis property paws at least ten per cent
per alnum, 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
wealth comes He is constantly put
ting aside what he can spare from his
rent receipts for the purpose Of invest
inc in more land. 1t is said on good
authority that sum amounting to
5000. 90 in cash IS kent on deposit in
trust companies for new purchases
whenever a good bargain is secured.
The condition of his property makes y
favorite topic for the political econO-
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
landlord has not significd any inten-
ton of ''whacking up" with the repro
ductive public. He is benefiting stead
lily by what John Stuart Mill called the
''unearned increment of wealth." and
than any man who ever lived.
When William II. Vanderbilt was alive
he overtopped John Jacob Aston, but
the railroad kings death caused such a
sub livision of the property that the
landlord is left way ahead of any COM
pettor. His brother William, a strug-
Cling real estate specUlator worth
about $4,000, 900, does not come rs
near to him as jay Gould, and. in fact,
stands Just about even with Cornelius
Vanderbilt. William handles his bust
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 property
in common. The disparity in their
fortunes was the result simply of in
heritance. Their father, who inherited
the bulk of the old far traders (John
jacob money. invested ii 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 house or two. or an entire !
block. amounts to less than the premi- !
umS 10 pe paiu 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-Camp, with the rank
of Colonel He was 4 volunteer, and
served with honor. His wife was a
Miss Gibbs, of Charleston, ). c. They
have one son. William Waldorf Astor,
who has accomplished a little in poll
ties, literature and art. A safe eSti-
mate OF John Jacob Astor's wealth !
to-day is Sl50.0O0,OOO. When Peter
Cooper was alive he estimated the !
property at $3.50, 100000, and the silent
increase, without the new investments, |
would bring the figures up to Sl50,- |
600. 900 aud over by this time.-A. Y. !
Cor. Philadelphia Press.