St. Paul daily globe., 1892-06-26

ned at S20.000,O00 to his sons, John
| Jacob and William Backhouse Astor.
The bulk of the property was inher-
tied by William B. Astor, who largely
increased it, and left the bulk to the
third John Jacob, the father of William
Waldorf.
The Astors are believed to own 5000
| buildings in this city. Almost half a
century ago they owned l 500 buildings,
and it was the common remark that the
AstOrs owned the town.
A departure from exclusive real estate
investment was made about 1861 by
| John Jacob AStor. 1t was caused by
patriotism. He was strong supporter
of the Union cause from the very out
break of tie war, and he took prom
inent part in the local meetings which
were held in lis support.
Besides contributing large sums of
money to forwarding troops to the front,
Mr.. Astor became a large purchaser of
United States government bonds, which
were not at that time considered the
gilt-edged Investment that they have
since become. 1t is said by bankers
that the AstOrs are the largest individ-
ual holders of government bonds III this
country.
Like everything else touched by
Z
increased in value. William Waldorf
AstOr IS we'll pleased with the invest
ment, and has no desire to change it.
| Their holdings are estimated at $9,000,-
600.
The AstOrs are, next to the Wander
bits, probably the most important hold
ers of railroad securities in the United
States.
Twenty million dollars is considered
moderate estimate of the value of that
portion of the estate.
All the men of the AstOr family have
been opposed to stock speculation. 1t
is known that many attempts were
made to induce John Jacob Astor the
third, and William Astor to try their
luck on Wall street, but the most oily
tongued ringer-in was unable to lure
them into stock speculation.
They were not averse to the purchase
of good bonds, however. and they are
large holders of the and per cent Is
sues of the principal roads in the cCun-
try. AS the bonds paying this unusual
rate of interest become due and are re-
deemed by the railroad companies the
money is almost Immediately turned
into real estate.
About S1.000,000 in cash and negotia-
bic paper is constantly at the use of the
Astors. The yearly expenses of all the
members combined foot up that amount
easily. A summary of their investments
is as follows, as near as can be learned
from authoritative sources:
Stocks and bonds. ds.........,.,, 20000000
Diamonds, jeWelry, etc..... 100000
Cash on hand NEUTRALITY-SUSPICIOUS.. 1.000 900
Total. sos, 600 900
The diamonds and jewelry owned by
Mrs. William AStor and other ladies of
the Astor family are we'll known the
world over. Combined their cost is be-
leved to have been $1,000,000. The
largest collection of diamonds in the
United States is that of Mrs. William
Astor.
When she attended the wedding of
her son, John Jacob. to Miss Ava Will
ing, at Philadelphia, year and half
ago, Mrs. AstOr wore diamonds the
value of which was estimated at S350,000.
William Astor'S fortune goes to John
Jacob. The amount is about S47, 100000.
Mrs. William AstOr has an income of
S500,OO0 year. and also fortune in her
own right. Her possessions are about
81, ,O00.00O At her death her income
goes to her son.
John Jacob Astor, now the head Of
this branch of the family, is not yet
thirty years of age. He is good-natured
and democratic and is of sport-loving
disposition. He is a good rider, an ex-
cellent shot and fond of all sorts of out
door sport. He has not yet shown any
decided talent for business. and seems
rather to care for spending money than
for gathering it.
AS his vast estate will practically
be managed by his agents, however, it
is not probable that young Astor
can waste much of it, even if he
feels so inclined. Among his intimate
friends Mr.Astor is alluded toas Jack"