The Dickinson press. (Dickinson, Stark County, D.T. [i.e. N.D.]) 1883-1927, 1888-06-02
AsTOR REAL ESTATE.
HOW JOHN JACOB AsHDoER FOUND
ED HIS FAMOUS FORTUNE.

y Noted Family in Which the Law of
Prim"s"niturc is Practically Carried
Out-il,r Amount of the Estate kent
Carcfully Concealed.
Ii is Just H.. Year, since John Jacob Astor
| Ohc U"!- llil iitinr is said to have been ASH
'l"erj WAS born ut II small villnge near Hedel-
Der, l;alcn. the youngest of four sons of u
poor peasant. He passed his hoyhool on his
iatiei''e patch of land: but, anxious to see
something of the world, he determined to
JOIN "ii.. ut his brothers in London who had
a"ilc ti.crr tn follow the business of making
0,ld Hing musical Instruments At lG he
M.T"i all the way I" TIL" coast of Holland
and thence worked his passage on Il fishing
N"'."i /" hi- point of destination. Staying in
W. land until he was II lie sailed for this
'oaatrN, with IL number of musical nstrll-
nieniN for the American market On the ship
Ii" "rncoultcr,',l !, lurri.r, by whose advice he
exchanged his wares. on reaching New York.
Tor quantity ri iurS. with which he rc-
| turned to London, selling them at an cnor-
nous profit. This lucky venture. as is we'll
known, led tn his establishing himself here in
the fur trade, which increased. so fast that he
was soon III Il position tn ship furs to Europe
and he east in his own vessels. which came
back laden with foreign produce, which he
| disposed of al an Immense profit. He laid
the basis of his vast fortune 10y dealing in
fllrs hut did not make the fortune itself in
that way, though it is sgcncralIy thought So
Ast"rS wealth, when he died at 81, forty
years ago, was estimated at S2O,UOO,0OO to
sa!3,ou',ooo, som" putting 1t as high as $780,
0O0,0no; doulllc,s an exaggeration. But,
wimtever the correct figures of his fortune,
the bulk of it was made by purchases of real
estate. Never before in the history of the
w,.rl;l had there been in all probability such
all opportunity ior safe and judicial spccu
latnn as here was between $500 and lslG in
the buying Of lands, improved and unim-
proved. "n Manhattan Island The founder
OF the llut"rratir family perceived this
clear! :, am! awaited himself of it to the ut
most IL" lm2an purchasing at the begin
nln2 "t the century and kept at it constantly
to ii, time "f his death. The city grew SO
| fast that much of the real estate he acquired
advanced daring his lifetime 40 and 80, even
| l0l per cent.
John Jacob had. think, three SONS. One
Of them died Very young; n second was de
RANGED almost from his birth, was carefully
watched and taken care of by special at
| tennlants in IL house owned by the family on
the west side of town, near Twentythird
| street, nn lived to he past 80. The third son
was William b. Astor, who had all his
fathers frugality and caution without any
OF his talents or originality. He could not
have made money, but lie could keep it and
n'll To it by ccuselcss buying of real estate,
following the policy of tue founder Of the
colossal fortune. He was cold, phegmatic,
duh, commonplace, without Imagination
tenderness or sympathy He had neither
vices nor Weaknesses, unless desire for money
b. 50 accounted. He was, in the ordinary
sense, II good husband, II good father, and
| faithfully discharged the duty imposed on
him "f caring for and increasing the estate.
y man necessarily of power and influence
through his great wealth. he drew nobody to
hiHi, He had no real friends, nor did he feel
the need of them. He was Il stanch Episco-
palian, II regular attendant at church, an OBJ
server of all ccclrsiastic forms, and passed
away AT 81 amid the ceremonies befitting
Iii, creed, and in the full o,lor of sanctity.
The Astor fortune has, from its creation
been virtually entaied. As most of it was
left To William II. Astor, to be managed,
controlled ,Id increased, 50 lie left it to his
son John jacob, and John jacob has in turn
left it to his son, William Waldorf, with the
sitnle provision. The law of primogcnitulp
has been practically carried out, and will no
doul! continue to he. The amount of the
estate j, carefully concealed, as is everything,
indeed relating 20 it that possibly can be.
Th" transfers of real estate, in order To be
lrsyal, must he recorded, and therefore mado
| public. Otherwise they would he kept secret.
The AStors are pcllctually guarding tho
financial facts of which they are the sole re
ro-ltnries In truth, only two or three nem-
hcFs Of the family are acquainted with the
Special facts, though ull may have some
general i'lea Of their prodiSous wealth.
| Their surplus must reach number Of mil
lions annually. and these are uniformly rein
vested. mainly in real estate They almost
never sell any, but they are continually buy
in2s buying, buying, and swelling their al
ready stupenlous income. They own thous-
nnis of MISUNDERSTANDING stores, offices
and warehouses nearly all in the municipal
limits, as they very rarely purchase property
unimproved or out of town. They are un-
d"niably the richest family, by all odds, on
,li- continent, and. perhaps, the richest COM
moners ON the globe. Their united fortune
can not be loss than $500, 900 900, and may
b. considerably more.
| The present john Jacob is not materially
unlike his father William b. .istor. He is
| so'ncXhat broader and quicker witted. more
Il man of the world but fully as much bent
Oh multiplying his estate. William Waldorf
ANtor, now the custodian of the ir,mense
estate, is Of much the same fiber as his father
and grandfather. He is about 40; has taken
some part in politics; has been minister to
Rome, and written an Indifferent book AS
soon as his father quits this planet-hc is now
~ the ncighborhood of s0-or becomes scnle
he viii employ whatever intelligence and
energy he can command to increase the
| family wealth. 'DeuceaccH in Globe Demo-
4 Crat.