The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-11
GoULDs AND THE vANDERB1LTs
Why the Doings of the Old Commo-
dore's Descendants do not Interest
Wall Street
From the New York Graphic.

From the New York Graphic.
There is noticeable difference in the way
IN which Wall street and its leaders treat
the comings and goings of some of the
financial magnates of this city. A couple
OF weeks ago Mr.. Jay Gould returned from
his Mediterranean trip, and the Atlantic
cable for month before had been kept hot
with dispatches announcing his coming and
giving the details of his voyage. When he
landed on our shores there were interviews
without number published by the leading
journals as emanating from the master
minds of finance i'll this country relative to
the effect which Mr. Goulds return might
have on the market for certain well-known
securities. On the day of his arrival in
New York he was besiged by reporters
from the city newspapers, and he was
compelled to hurry to the shelter of friends
house to avoid their importunate desire to
interview him.
The other day, nobody knows exactly
when, William X. Vanderbilt's steam
yacht sailed into one of our coast ports,
and the man whose wealth is counted up in
the hundreds of millions stepped ashore
with his family and came quietly home to
New York There was no fuss made over
his arrival, and the spectators in our down
town resorts did not worry themselves to
discover if his return would have a de-
pressing or elevating effect on the markets
of the next day. He had cut considerable
of figure in the old lands, with his beauti-
full yacht and his careless way of fitting
from port to port as his own sweet will di
rected him He had attracted more public
attention on the other side of the ocean than
Jay Gould, for he spent a great deal more
money, went more into society, and had
given some very swell receptions on his
pretty boat. When he came back the other
day he had sEipload of all sorts of curious
things, which he had purchased at any and
all prices and in strange, out-of-the-way
places. But the bankers and brokers heard
of his temperance at his Office with no
wonderings as to his future movements no
curiosity as to his present intentions.
William K. Vanderbilt controls as much
wealth as Jay Gould Why was it that his
temperance in New York was considered
as having no influence in the centers where
stocks and securities are manipulateds
The answer is readily gwen by any one
acquainted with our down town financial
movements The Vanderbilts are no longer
a power in Wall street Their names are
now heard there, if at all, only incidentally,
aud the former influence of the family on
the course of events in that quarter no
longer exists A marvellous changed Ger
talnly. There was time, and that not
very long ago, when the Vanderbilt name
and influence could have moved Wall street
from turret to foundation stone" But
that was in the days when the heads of the
family and some of its youngsters were
known to take part, and occasionally to do
it outside the cover of their brokers, in the
moneyed wars that sometimes arose in the
neighborhood of the Stock Exchange.
All that is changed now, for everybody
recognizes the fact that the Vanderbllts are
in all truth ''out of Wall street,
They have all had a little experience
there, however, and perhaps Cornelius and
William K, who are now at the head of the
family, paid rather dearly for the last les
son they learned in the street. 1t was a
number of years before the death of their
father, William II. Vanderbilt. He had
been so much engrossed by his business mat
tiers that his health failed him and he was
compelled to run off for a rest of few
months in Europe. During his absence the
two young men went deep into the market
in Wall street, and syndicate of specua-
tors started to squeeze a big pile of money
out of the two rich fellows. They succeeded
beyond their most sanguine anticipations,
and in the course of the month the two
Vanderbilts found probable ruin staring
them in the face. Their father heard of it
on the other side of the ocean and he bur-
ried back to their relief When he arrived
he found them up to their necks in stocks
that could not be unloaded and in losing en-
gegements that could not be cancelled 1t
cost the old gentleman, if street rumors are
anyway near correct, couple of millions
to get the two brothers out of their entan-
clements, and then he promptly banished
the present William K. to farm on Long
Island and put Cornelius on so small an al
lowance that he could speculate no more.
When William H. had fixed no the affairs
of his two hopeful sons he was told that
Fred, another of the boys, was also in finan-
cial straits. Mr.. Vanderbilt had been an
moved by the action of Cornelius and Will
liam K, for they had been considered the
steady and staid members of the family.
but the announcement that Fred had been
swept into the whirlpool of Improbable
speculation did not surprise the old gentle
man. Fred, who is now a good deal given
to business and quiet ways, was then just a
little inclined to be successful man about
town, and the father knew it. Still, as the
old gentleman was in the settlement bust
ness, he decided to get through with it, and
so he sent for Fred.
He was very stern, was William H., when
his Young son came in and babe him good
morning in rollicking, careless and affec-
tionate tone. But he could not keep angry
with Fred, for the young fellow was his
able. amiable ways, and was not bit like
the other boys, who took their traits from
the sturdy old Commodore
81 hear you've been dabbling in Wall
street speculations since / went away, lust
as your two older brothers have, ~ said the
father.
Eyes" said Fred; 81 have been doing
little in that line.n
"Well, suppose | might as well settle
your losses now, as | have done those of
your equally mart brothers. l will have to
do it, am sure, sooner or later, and want
to do it now"
Don't worry about me-" replied the
young man. 81 don't need any help
Don't need any helpp' cried William H.
"Why, who will pay your losses if dont9
Ehn
81 haven't any losses" murmured Fred,
sweetly, 'for as soon as found that Willie
and Cornell were on one side of the market
in the specuations, just quietly climbed
in on the other side and / tell you / gath
cred them in at great rate. Some of the
money you checked out this morning to
cover their loses will 60 TO increase my own
bank account am much obliged to you for
your offer, but you see | got the bulge on
your two sons whom you esteemed paragons
in business"
And then Fred laughed gleefully; so did