The Dickinson press., 1888-11-17
THE AST0R ESTATE.
ITS FOUNDERS ANTICIPATION OF
THE GROWTH OF NEW YORK.

The Policy Inauguratcd by John Jacob
Aston Closely Pursued by His Descend.
ants The Responsibility of Immense
Wcalil.-Tlio Aston House.
Although tho founder of the family, John
Jacob Astor, son of n Badencse peasant,
laid, as is we'll known, the basis of his great
wealth by the fun trad, the bulk of it came
from realty. which he began buying early in
the century, and continued to buy until his
death. Il period of nearly fifty years. lIe an
ticipatel, in Il measure, tho remarkable
growth of New Yorh-he would be amazed.
no doubt, if he could learn its present popu
lation-and had, it is said, mcrring judg
nient us to commercial transactions. The
city advanced so fast that the lots he &c.
quired often increased fifty fold, sometimes
n hundred fold in value.
The policy he originated has been closely
pursued 10y his descendants, who arc con
slant huyrrs-tiicv very seldom sell-of i'm
proved city property at the lowest rates,
and under the most favorable conditions.
Their manager, shrcwd, careful, thoroughly
trained, is always on the watch for good in.
v.stmentS, and never misses n chance. They
nre et"rnally adding to their possessions.
wv ~ tiIlS,lIliNo VI
offices. stores, northumberland may in time
hold l'!c atilc bulk of the town. No one
outside nj the immediate family, and but
very frw in it, have any idea how this alb
>o.bing process GOES on, month after month.
year after year, generation after generation.
Tie .A,tols keep their affairs rs secret n
possible; they arc rcliccnt-Inen, wolnc and
cl!.!dren rs Il rock on that subject, though
,iilL. tl,nil. b,,l mud tl,,i. /, ~ ,rnr l,n,.n ~"
d'iimltc Information. They know that they
are "iil crlaiiyeiy rich, that every day, every
hour, cYcrv innate, auglnents their riches.
and with this they are satisfied.
hat is the estate worthl Who knows.
Ii is doubtful if any one can tell; but, as the
HRS, uf it is in houses and lots, an estimate
might; ln made that could not be made were
it in securities. liable tn ccaseless variation
iii the market. john Jacob Aston counted
UP two hundred and fifty thousand dollars
i'll lsa0-he had then been in tine Republic
seventeen years, and was 44-unl ut his
death. in ls4S. his wealth was believed to
reach twenty million dollars. In fortv-eight
years it had increased eighty-fo.d. Forty
Wears have passed since then, and millions OF
SAT- his revenue have been annually rein
v,ate'l i'll real estate, and real estate advances
i'cir with astonishing raridity.
AN AWFUL RESPONSIBILITY.
We all know how great fortunes increasc,
like big balls of snow, at every turn. 1t
would seem rs ii the Aston estate must bv
tbs time amount to $500, DOC, 200. But, making
aIl allowances and deductions, $500, 900, 600 is
II rational estimate, and | am confident it will
reach that. What Il stupendous sum for one
family, of which there is always a head, a
director. Il controllers! What gigantic power
1t hestows; what al awful responsibility it
involves! What hospitals, libraries, colleges.
art galleries it might establish here without
s. ri",iS diminution; and New York lacks
I csc more than any great capital does! John
Jacob -Astor gave 100000 to found the Aston
Library, and his SONS and grandsons probably
ii!:ni themselves ahsolved, therefore, from
further llhcrality of the kind. Because one
l. worth Il few hundreds of millions, is that
amy reason why one should devote n million
or two TO the public good of tho city where
they have all been made?
The first John Jacob Astor felt the deepest
interest in the building Of the Aston house,
more than half IL century old, and watched
lis progress day after day until its compile
ton. This may account in part for the So
Ii'il1y of the structure, which is hardly sur
itSScti 10y any building in Now York. He
was determined that whatever was done for
him should he done thoroughly, and was so
vigorously economical hat he often, it is
said, picked up nails that the carpenters had
ripped. and demonstrated with tho me
c',;tllics when they showed the least tendency
10 waste of time OF material. He was very
anxious to perpetuatc tho family nume-an
anxiety that has been shared, in q monetary
way, by his des~cendunts-and lie enjoincd
therefore upon his heirs that the Astor house
should always be used as a hotel. The
Western Union company wanted to buy it
before putting up their building at the corner
of Dcy street, but tho Astor estate declined
To sell for that reason, though offered a good
round price.-Paul II. Cleveland in The Cos.