The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-12-21
THE AsToR MILLIONS


New York World.
The fortune of William Waldorf Aston
is wholly an inherited one. 1t represents
more particularly than any other great
American fortune, entailed wealth. The
foundation of it was made by the little
pack of Musical instruments which the first
John Jacob Astor brought with him from
Germany To sell in what was once New
Amsterdam, but which in these latter days
is known as New York. Mr.. Astor's wealth
is almost wholly in real estate. tits proba-
bly, the most safely invested of all of the
larger fortunes. Only an earthquake de-
vastating Manhattan island could wipe it
out.
The original John Jacob Astor bought
farms along the Kings Highway, the old
postroad extending from the Battery in
New York TO Albany, the capital of the
state. The Kings Highway now bears
the name of Broadway. The descendants
of John Jacob Astor followed his example
in acquiring lands, but Broadway soon
proved too restricted for their investments
and they bought both to the right and to
the left of the thorougbfare, People who
desired to put up residences or business
structures would obtain ground leases
patches and pastures buildings arose
which at the expiration of the leases re-
verified TO the Astors. As rule these
leases ran for twenty-one years. There
are acres and acres of buildings in the up
per part of Manhattan island belong
ing to William Waldorf Aston. The rents
from these buildings turn mighty stream
of money into his Golfers every month.
IL g
real estate has alwaysb been kept up by each
successive heir, and it is being perpetuated
by the last one. The real estate reports
tell almost q daily story of more property
added to the Aston domains of brick and
mortar. 1t has been saying that '.Astor
never sells piece of ground, and this is
almost literally true. Rarely, indeed, does
piece of property pass out of the Astor
possession. A popularity about the Astor
buildings is that the lessees have to supply
their own gas burners. While the build
lngs are always in good order, it is difficult
to induce the owner to make alterations or
improvements. If the tenant desires these
he must make them himself. In this way
many valuable additions have been made
which have, of course, gone to the Aston
accumulation.
There is scarcely bank in New York
which handles more money than William
Waldorf Astor's office in West Twenty
sixth street, a few doors from Broadway.
Here the books of his great property are
kept and here the rents arepaid in. 1t is
becoming more and more difficult to buy
land on Manhattan island, and the surplus
wealth of Mr.. Astor is to some extent, at
least, seeking investment in other direc-
tions. Considerable of it has gone into
government bonds and other high grade
securities. Mr.. Astor is going to put up
$1,000, 900 hotel in order to lind an outlet
fNv n Is Il. L
encumbers his Twenty-sixth street Office.
William Waldorf Aston at one time had
vaulting political ambition, which, like
many another ambition, oEeTleaped itself.
He served in both branches of the New
York state legislature and sought seat in
congress, but was defeated by Roswell P.
Flower. and never afterward could be pre-
vailed upon to ask the suffrages of the peo-
pie of his district. He served as minister
to Italy, in which capacity he made
creditable record. He is of literary turn
of mind. He made considerable of name
as novel writer, and is now reported to
be engaged on another work of fiction.
When the book is issued it is not expected
that it will be for sale to the public. 1t
will be wholly for private circulation.
Mr.. Astor is 40, tall, well built and
agreeable in manner. He wears eye
glasses and dresses very quietly. He has
always been great student, and this bent
Is rejected IN his speech and manners.
Mr.. Astor pays very little attention to the
management ofhis business. He intrusts
it to old and tried agents. The Astor prop
erty is very easy to manage, for it involves
little more than the collection of rents.
The wealth of William Aston, like that
of William Waldorf Astor, is almost wholly
in real estate, and was inherited from the
same source that all the Aston wealth has
come. The manorial custom of Europe
was established by John Jacob Aston /.
set for the estate to pass to the eldest male
member of each generation. William Astor
is very retiring man. He is rarely seen
III public