New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-12

When William y. Aston died. his two sons
John Jacob and William, shared equally in his
estate, for life, and then it went 10 their heirs
but gifts from tie original John Jacob had made
John Jacob, second, richer by about $4,000. 600
! His estate increased much rapidly than
that of his younger brother, for lie devoted him
eef TO business closely. while William lived
extensively and entertained largely. Conserva-
tive estimates placed the wealth OF William Astor
| at $4,000 900 when he died. IF that is to
| be relied upon. William Waldorf Aston, who
inherited almost the entire estate of John Jacob
Aston may fairly be thought to have been worth
about $50, 100000.
Mr. Aston owned half Of the Astor House, which
had been left by William j. Asor to his three
sons but John Jacob and William purchased the
share of their brother Henry, and in turn left
it to their sons. It is assessed at 81 100000 and
is easily worth 81, 100000.
SOME TRUSTWORTHY FIGURES.
At the time Of John Jacob Astor's death,
Michael Coleman, at that time president of the
Department of Taxes and Assessments, gave the
following interesting statistics:
! "For a considerable time Mr.. Aston had been
increasing his holdings on the Harlem River AMI
| in the Annexed District. He fought the Morris
estate which he caused TO be dyked out and filed
| in and be purchased other large pieces of land
along the line Of that improvement extending az
| far as Jerome Park and adjacent to it. lie had
! also bought some large plots the West Side, in
/ Guiding a number Of prominent fronts, extending
from street to street along Riverside Drive and
| the Western Boulevard.
"What was known as the radsh- garden prop
erty of the Astors extending from Forty-eighth-st
to Fifty-ffth-st along the line Of Third, Fourth,
! Fifth Sixth and Seventh aves. from Avenue il
/ IL OIL 81 lposphO11 n
ty-one years, with the privilege of renewal upon
valuation. The parties holding the leases have
erected their own buildings upon the land and
nav all the taxes and assessments The same Is
true of the large tracts between Forty-thrd and
| Forty-seventh SITS west Of Eighth-ave, where
hundreds OF houses have been erected by the
: lessees the same terms of ground rent, length
of lease, and renewal On the expiration OF the
| lcasehcld valuation is made, agreed upon by
the parties, and the renewal il entered into on
| the basis Of the estimate
| But Mr.. Astor's real estate did not wholly c,n.
sist in property the buildings upon which be-
| longed TO other people. lie was the possessor 81
many costly cdi1ces, which brought him large
returns. In the First Ward he owned several
important ard valuable pieces of land with such
structures rs the Guaranty and Indemnity build
ings, including Exchange Court, Others are the
/
buildings in Broadway, and the Astor House which
covers fourteen lots. The Astor House is valued
on the assessment rolls at 81 100000, but So 600.
| 900 would not buy It, Then along Thirty-third
and Thirty-fourth SITS, running from Madison TO
Sixth-ave. and also with few exceptions from
Fifth to Sixth ayes, we find the land and houses
in Mr.. Astor's ownership. In almost all the i'm
b6rtant streets Of New-York the Astor name is
known as owning in fee.
"Mr. Aston was large holder Of Sinking
Fund securities, having been a constant buyer
of them for twenty-five years. He owned also
almost the entire issue Of the Columbus and
Hooking Valley Coal Company's stock In order
to get higher rate Ct interest he was often
found putting his money into stocks and bonds
which fuctuated in the market lie bought
largely of Delaware Lacsawanna and Western,
Delaware and Hudson, Western Union, etc. lie
was one of the principal in tile United
States Trust Company and was largely interested
in the Farmers Loan and Trust Company, and
owned more or less of the shares in every old
bank in Ncw-York
Besides he held stocks in a number OF insur-
ance companies. His last real estate speculation
was made only few months before his death,
when he acquired entire front in Sixty-seventb
or Sixty-eight ST., in trade with Cyrus w.
Field for the estate known as the CottOnet Place,
which adjoins the old Alexander Hamilton Place
He had bought this property four or five years
before through his friendship for General A!exan-
der Hamilton, the grandson Of the Secretary of the
Treasury. He paid $3.50, 900 for it and expended
| ST. co. 900 in putting it in order
HEAVY TAX LIST.
Alfred Vredenburg. Deputy Receiver Of Taxes,
said Yesterday that it was impossible 20 make
even an approximate estimate Of William Wal
dorf Astor's wealth, but be thought that be
could safely say that he was the richest man in
| landed property in the United States, perhaps
In the world Last year" Mr. Vredenburg
said. "his taxes real property in New-York
City which he paid into the city treasury amounted
to over 100000. His taxes on personal prop
ertv amounted 70 SIS 900 Yet this does not
show the amount of his taxes. Nobody can tell
how much of it is paid by lcssees. whose ground
leases. originally made by the first John Jacob
Aston date back into the '40s, and have been
renewed by William b. Aston John Jacob Aston
the second, and William Waldorf ] estimate
the yearly taxes paid these ground
rentals Of William Waldorf Astors estate
at not less than 100000. II may be more Than
this for under our system of taxing the property
direct, without Knowing the name Of the owner
there is nothing in this Office to indicate the
property actually In the possession Of the Astor
estate"
Lord Day & Lord had charge Of most OF
the affairs Of William Waldorf Aston, but much
of the law business also handled by the firm
of Evarts. Southmayd IL Choate, Mr.. Southmayd
having been a close friend OF Mr. Astor and his
private counsel. After Mr.. Aston went to Europe
lie appointed Charles A. Peabody, ir., Of No. {?
Wall-st as his private agent in this country
Mr. Peabody was close friend of Mr.. Aston, the
two having been members of the legislature TO-
gether. The Aston estates have been built up
largely by conservative investments in real estate
John Jacob Astor who born in Waldorf
near Heidelberg Germany, on July IL, 1853, came
TO this country with lot of musical instruments
in 1888. He sold them and bought furs. lie