The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-01-21
THE ASTOR MILLIONS.
Represented by Acres of Build
ings in New York.
NEARLY ALL WE'RE INHERITED
The Policy Of the Estate is and Has Been
Never to Sell Land or
Structures.

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 Aston 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. 1t
is probably the most safely invested of all
the larger fortunes. Only an earthquake
devastating Manhattan Island could wipe
it out.
The original John Jacob Astor bought
farms along the Kings Highway, the old
post road extending from tlIsBattery in
New York to Albany, the csEltal of the
state. The Kings Highway new bears the
name of Broadway. The descendants of
John Jacob Aston 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 thoroughfare.
People who desired to put up residences
or business structures would obtain ground
leases of the Astors, and on corn fields, po-
tato patches and pastures buildings arose
which at the expiration of the lease revert
ed to the Astors. AS a rule these leases
ran for twenty-one years. There are acres
and acres of buildings in the upper part of
Manhattan Island belonging to William
Waldorf Aston. The rents from these
buildings turn mighty stream of money
into his Golfers every month
THE AsToR POLICY.
The Astor policy of the acquisition Of
real estate has always been kept up by
each successive heir, and it is being per-
petuated by the last one. The real estate
reports tell almost daily story of more
property added to the Astor domains of
brick and mortar 1t has been a saying
that "Astor never sells piece of ground"
and this is almost literally true Rarely,
indeed, does piece of property pass out of
the Aston possessions. A popularity about
the Astor buildings is that the lessees have
to supply their own gas burners. While
the buildings are always in good order, it
is difficult to induce the owner to make
alterations or improvements. If the ten
ant desires these he must make them him.
self. 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 are paid in 1t is
becoming more and more difficult to buy
land on Manhattan Island, and the sur
IL -
at least, seeking investment in other direc-
tions Considerable of it has gone into
government bonds and other high grade
securities. Mr.. Astor is to put up s., 000,-
600 hotel in order to find an outlet for the
deluge of money which monthly encum-
bers his Twenty-sixth street office.
Mrs. William Astor is the leader of the
-Four Hundred, if a title conferred by Ward
McAllister is a rightful one. William
Waldorf Astor, however, is, by reason of
succession to the great fortune, the head
of the house of Astor. The question arose
between Mrs. William Astor and Mrs
William Waldorf Astor as to whom was
entitled to issue her cards bearing simply
the designation Mrs. Aston. The conten-
ton awakened considerable bitterness be-
tween the two families. 1t resulted by
general consent of society and by decision
of the postmaster at Newport in award
ing the distinction to Mrs. William Wal
dorf Aston.
THE AsToR FAMILY.
William Waldorf Astor at one time had
a vaulting political ambition, which, like
many another ambition, overleaped itself.
He served in both branches of the New
+o4a
in congress, but was defeated, and never
after could be prevailed upon to ask the
suffrages of the people of his district. He
served as minister to Italy, in which ca
pacity he made a creditable record A
Office, however, was not as well
suited to his taste as legislative one.
He will never figure in politics again.
He is of a literary turn of mind He
made considerable of a name as a novel
writer.
Mr.. Aston is 40, tall, we'll built and
agreeable in manner. He wears eve
glasses and dresses very quietly. He has
always been great student, and this bent
is reflected in his speech and manners. Mr..
Astor pays very little attention to the
of his business. He intrusts
it to old and tried agents. The Astor
property is very easy to manage, for it in
wolves little more than the collection of
rents.
The wealth of William Astor, 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 1. When he died the bulk of his
fortune went to his eldest son, and so the
precedent was set for his estate to pass to
the eldest male member of each genera
ton. William Astor is a very retiring
man. He is rarely seen in public. He has
never displayed any political aspirations,
and, although his wife is a social leader,
he has never taken more than an Incl
dental part in society. He is known as
great reader and is fond of OPERA
MIR. Astor is accustomed to spending his
winters in Florida, where he has fine
place. He is the owner of steam yacht,
upon which he cruises in southern waters.
At the end of the cold months he comes
north on the yacht and then almost in
betakes himself to Europe. A
life on the water seems to suit him much
better than a life on land. He is exceed
ingly democratic in his ways. He and the
master of his yacht are on such terms of
familiarity that the latter is said to address
him as William" Mr. Astor is consider
able of recluse. He does not like the
hurry burly of the world, and embraces
every opportunity to get away from New
York to quieter spot.-New York World.
Fresh Terrapin Eggs for King Snake.
One of our citizens who observes things
closely was out to Cedar Hammock not
long since, when he noticed terrapin and
king snake mutually interested in some