The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1888-03-21
ASTOR REAL ESTATE.
HOW JOHN JACOB AsHDoER FOUND
Ed HIS FAMOUS FORTUNE.

A Noted Family in which the Law OF
Primogeniture is Practically Carried
out-The Amount Of the Estate Kept
Carefully Concealed.
1t is just 1875 years since John Jacob Astor
(the original name is said to have been Ash
doerl was born at a small village near Heidel-
berg BADEN, the youngest Of four sons of a
poor peasant. He passed his boyhood on his
fathers patch of land; but, anxious to see
something of the world, he determined to
join one Of his brothers In London, who had
gone there to follow the business of making
and selling musical Instruments At 16 he
walked all the way to the coast of Holland.
and thence worked his passage on fishing
vessel to his point of destination. Staying in
England until he was 81 he sailed for this
country, with number of musical instr1-
ments for the American market On the ship
he encountered a furrier, by whose advice he
exchanged his wares, on reaching New York,
for quantity of furs, with which he re-
turned to London, selling them at an enor-
nous profit, This lucky venture, as Is well
known, led to his establishing himself here in
the fur trade, which increased so fast that he
was soon in a position to ship furs to Europe
and the east In his own vessels, which came
back laden with foreign produce, which he
disposed Of at an immense profit He laid
the basis OF his vast fortune by dealing In
furs, but did not make the fortune itself In
that way, though 1t il generally thought 70.
Astor's wealth, when he died at "a, forty
years ago, was estimated at $4,000, 600 to
SCI, 100000, some putting 1t as high as $780,
100000; doubtless an exaggeration. But,
whatever the correct figures of his fortune,
the bulk of it was made by purchases of real
estate. Nevor before in the history of the
world had there been in all probability such
an opportunity for safe and judicial specu-
lation as thare was between 1900 and 1916 in
the buying of lands, improved and unim-
proved, on Manhattan Island. The founder
of the plutocratie family perceived this
clearly, and awaited himself Of it to the ut
most. He began purchasing at the begin
ming of the century and kept at IL constantly
to the time Of his death. The city grew so
fast that much of the real estate be acquired
advanced during his lifetime 40 and so, even
100 per cent.
John Jacob had, think, three sons. One
of them died very young; second was de.
ranged almost from his birth, was carefully
watched and taken care Of by special at
tendants In house owned by the far 'ly on
the west side of town, near Twenty-third
street, and lived to be past 60. 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 he could keep it and
add TO it by ceaseess buying of real estate,
following the policy of the founder of the
colossal fortune. He was cold phlegmatic,
dull, commonplace, without Imagination,
tenderness or sympathy He had neither
vices nor weaknesses, unless desire for money
be so accounted. He was, In the ordinary
sense, a good husband, good father, and
faithfully discharged the duty imposed on
him Of caring for and increasing the estate.
A man necessarily of power and influence
through his great wealth, he drew nobody to
him. He had no real friends, nor did he feel
the need Of them. He was stanch Episco-
palian, regular attendant at church, an OBJ
server of all ecclesiastic forms, and passed
away at 81 amid the ceremonies befitting
his creed, and In the full odor of sanctity.
The Aston fortune has, from It's creation,
been virtually entailed. As most of 1t was
left to William B. Aston, to be managed.
controlled and increased, 80 he left It to his
son, John Jacob, and John Jacob has in turn
left 1t to his son, William Waldorf, with the
came provision. The law Of primogeniture
has been practically carried out, and will no
doubt continue to be- The amount of the
estate is carefully concealed, as is everything,
indeed relating to 1t that possibly can be.
The transfers Of real estate, in order to be
legal, must be recorded, and therefore made
public. Otherwise they would be kept secret.
The Astors are perpetually guarding the
financial facts Of which they are the sole re-
positories. In truth, only two or three mem
bers OF the family are acquainted with the
special facts, though all may have some
general idea of their prodigious 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
ing, buying buying, and swelling their al
ready stupendous income They own thous-
ands of buildings--dwellings stores, offices
and warehouses nearly all in the municipal
limits, as they very rarely purchase property
unimproved or out of town. They are UNI
deniably the richest family, by all odds, on
this continent, and, perhaps the richest COM
moners on the glcbe. Their united fortune
can not be less than $500, 900, 900, and may
be considerably more.
The present John Jacob Is not materially
unlike his father, William b. Astor He is
broader and quicker witted, more
a man of the world, but fully as much bent
on multiplying his estate William Waldorf
Aston, now the custodian Of tho immense
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--he is now
In the neighborhood Of 70--or becomes senile
he will employ whatever intelligence and
energy he can command to increase the
family wealth. --"Deuceace" In Globe Demo-
GRAFT