St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-05

hat idea was good seed and, 1t fell in
talIOw ground, developing into an ulti-
mate harvest of fairness ION which the
Astors of today thrive and live and
Splurge to such All extent that they
hate 10 be known by any Christian cog
nomen, but proudly, not to say de-
family, sail at the head of the social
set, bearing upon their cardboard PEN
nant the simple words mir. Aston" or
Mrs. AStor," according to the sex of
the owner thereof.
Rome was not built in day, nor was
the AStOr fortune made in generation.
When John Jacob was eighty-fve
years OF age. in 1913, he died, leaving,
after a number of legacies amounting
all told 10 about S5OO,OO0, his estate to
his son, William B. Astor, the popular
estimate al the time being $50, 900.
1t is an interesting fact that John
Jacob, who made his first savings as 4
pedler of furs, conceived prior to his
real estate scheme project by which
he hoped ultimately to control the fur
trade of the entire world.
Henry Clews tells me that Astor'S fur
thought was expected to net him not
less than million a year, and that in
later life it looked Very much as though
that handsome income would have been
more than realized.
The real estate problem, however, re-
CURED less money to handle and was
attended with less risk. The annual
crop of furs was an uncertain problem,
but real estate was a something which
could always be found in the morning
where it was left the night before.
However this may be, John Jacob left
something like $20,0O0,000 to his son
William B., who, in 1873. twenty-seven
years after the death of his father, de-
parted also, leaving the bulk of his
fortune to his two sons, William and
John Jacob.
The eldest John Jacob, the founder
of the family. had some excellent ideas
as to the duties OF rich men toward the
cities where their fortunes were made,
and put up number of very handsome
buildings. notably the world-renowned
Astor house, and founded the Astor
library with its efficient capital.
His IsOn, William B., inherited that
MulCH was W q Gel Ldlll CAtollt ucfClUUCu
In his father. and deserved the reputa-
ton he enjoyed of liberality along liter
airy and humanitarian lines.
He was tlfty-seven years of age when
the management of the fortune devulved
upon him. and eighty-two when he died
AT that time he was said to be the
largest individual holder of national
bonds in the country, and owned nearly
500 houses on Manhattan island, esti-
mated at value of S20.000,000.
His will was surprise.
He had given $4,000 to ST. Luke's
hospital. and something like 100000 to
other charitable institutions.
In his will, however, he left sums
varying from $4,000 down to a large
number OF humane societies here be-
sides S250.000 for the use of the Astor
| library.
He was fine-looking old gentleman,
modest. quiet, retiring, without esthetic
tastes excessively developed in any line,
but stald, respectable, phlegmatic,
methodical in habit, and strict to de-
gree with all who owed him money, and
also toward any obligation he himself
had incurred.
Having been imbued by his father
during a long lifetime, more than half
century, as will be seen, with the real
| estate idea and its certain develop
ment. and having witnessed in his own
| experience the most extraordinary rise
| in market values. he invested in farm
| property straight up through the island
along lines of travel where, If at all, de-
Velopment must surely come.
The elder Astor owned property down
town. This was inherited by his son,
who purchased property up town. Acre
after acre became his by outright pur-
| nh 10 tnd
lands, swampS In sections of the city as
barren of prospective value as any land
in New Mexico.
AS the city grew and streets were
laid out, little by little this property
| came into the residential quarter, and
| what in olden times were farms more or
| less titled were covered with dwelling
houses, the streets being paved. gut
tered, sidewalked, lighted and policed
at the expense of the city.
This had gone on during the quarter
of century preceding his death in 1878.
to such an extent that his real estate
holdings and personal property in bonds
! and stocks of various nature were eSti-
mated by experts at something like
S10O,O00,000.
The fourth generation of Astors re-
solves itself into two men, William
| Waldorf, who has eXpatriated himself
SO far as personality is concerned, but
kindly condescends to live on the cou-
pons cut from the earnings of his prop
erty here, and John Jacob Astor III,
William Waldorf is a son of John
Jacob Aston Ii, and John Jacob is a son
of William, who died in Paris.
The Astor family has produced no
great men, save the one who developed,
| Itln ny g
own wit, which induced him to shake
the dirt of his fathers shambles from
his feet and come here to seek that
which he unquestionably made, not
found, his fortune.
| Until the present generation, no one
of the Astors developed along any
esthetic line whatever.
William Waldorf attempted politics
and failed. He wrote book which
amounted to nothing, and then, recog
niZing the leaven Of the old-time influ
ence way back in the original John
bethought himself OF European splendol
and sought the comfort which Soca
ambition suggests. put, imagine, neve
satisfies. His purchase and investmen
in English periodicals have brough
him notOriety, but neither fame no
influence. The most ridiculous ant
grossly absurd stories are told of tn,
losses ne mas sustained, something llkt
q half million dollars year, in running
the Pail Mall paper and magazine. Tina
he loses money l dare say, but as
doesn't bother him any to make il, o
rather to accept it, really don't under
stand why ans utterly unresponslv
world should be bored with the detail
| of his losses.
John Jacob Is building a house her
/ and so Is his mother. He is young
, phenomenally rich, and Indicates
desire to be regarded as a man of literar
trend by occasional contributions to
sporting paper, of which he is pal
| owner, and he recently published
book, the idea of which is clever bu
: not original.
There is no evidence as yet that eithe
Of these men is mentally beyond h
!, fellows, nor have they given any sign
1 Of public spirit.
The general Judgment, which, like a