St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-16
OUR RICH LANDHOLDERS.
IN
Real Estate Once Secured Is
Il. IL Seldom Relinquished by
o. the Family.
AS NEW YORK CITY GREW,
So Did the Estate, and Values
Kept Pace With the Me-
tropolis.

W many AiHCliCdls, anu do HdtlOll
they afford many examples Of dashing,
brilliant. hustling men of business, says
the New York Recorder. But If the
credit side Of the ledger down town
shows large profits, the files of bills
from up town show enormous expenses.
The wife and the daughters and the
sons each and all pull at the purse
strings, and money that should 20 into
investments, that should be sailed away,
Is spent in the pleasures and fashions of
the day. which return, instead Of inter-
est. too often only heartaches and head
| aches and appointments so that, when
the financial typhOon strikes, the ship
is wrecked for want of ballast. Today,
even in these dull times, there are
scores Of men whose bushes income is
far larger than was that of the original
John Jacob Astor until the latter part
of his life, when his shreWd investments
in New York realty began to turn in
their enormous revenues. Yet it would
be taking no greater risk to say that of
these scorce of ephemeral rich men
not one will found fortune like his.
The opportunities for Investment are
as good as ever. What is needed is the
bulldog tenacity of purpose which
Astor brought with him in his German
peasant blood, combined with the close,
eager thrift which made life prisoner
of every penny captured and only gave
a tlcket-of-leave to 60 out and work for
its captor under the strictest surveill.
ance.
Every one knows in more or less
fragmentary way the story of John
Jacob Astor's life. The son of butcher
In little German village, and not
very good butcher, either, he went first
to England and engaged In piano busi-
ness in connection with his brother.
His original trip to this country was to
Introduce his wares, and it is believed
he even brought with him German
finte-but then the laws were very lax
ia those days.
~ AstOr's First Venture.
Arrived here, his acquisitive genius
soon told him that there was far more
money in peltries than in psalteries.
/ Inc noble red man would willingly part
with furs of great value for jug of
/ firewater of no value at all, and the
difference in these values laid the foun-
datlon OF the Ast0r fortune. Frau
Astor, too, was fitting helpmate for
the pushing young German, and soon,
ny close attention and that Unborn gift
that women have, became skilled
Judge of this merchandise. and with
her own expert hands picked over
and assorted the skins as they came
into the little shop, working as hard
In her indoor department as did her
husband III his trading tours. The
shrewd and thrifty pair. saving every
cent and turning dimes into dollars on
every transaction, found themselves
soon almost in command of the bust
ness. MIR. AstOr's agents in the wild
West and beyond, III the Northwest,
were everywhere trading powder, shot,
beads, trinkets and cheap and snowy
goods which are dear to the savage
heart for raw furs. The transportation
of these led to the establishment of
chains of trading posts, aud the small
beginning took on the dignity of a
grand and successful business enter
prise.
Perhaps the only great venture which
Mr.. AStor ever undertook which did
hot turn out complete success was the
founding and establishing of the colony
of Astoria i'll Oregon. Even in this,
however. it is not likely that he lost
anything, although his golden dreams
did not prove true.
AstOr's PenurfOus Habits.
In all his business transactions Mr..
Astor was exceedingly close and exact.
ing, and even in later life. when he had
become by far the richest man in Amer
lea. he parted with money with extreme
reluctance. The habit of penurious-
ness had become so ingrained that it
could not be shaken off. He never re-
turned in any philosophical way dol
had furnished it. Numerous anecdotes
have been told of him in this respect,
which, it not true, are at least charac-
teristlc. Upon one occasion subscrip-
ton list for some public or charitable
| object was sent to him with a note from
| the sender, who from his personal and
business relations felt at liberty to ask
his aid toward worthy object. The
reply came In letter speaking in the
highest terms of the sender, and cor
daily indorsing the project, etc., and
then went on to say: "SympathiZing
warmly inyour under taking, l beg to
| subScrIbe"-here the page had to be
turned, and hopes beat high-"myself
your obedient servant, John Jacob AS
tor"
Upon another occasion, being ap-
preached verbally for a generous SUBJ
serlptlon for similar purpose, he de-
cllned, and when the applicant called
| his attention to the fact that his son.
| William B.. had put his name down for
500, he replied: my son William has
a. very rich father-an advantage 1
never possessed"
Mr.. Astor had a horror of the sea. He
never returned to Europe but once, and
that late in life. 1t was told of him that
on his return in one of the primitive
Atlantic liners of the day a great storm
came up just as they left the English
coast. A fearful panic seized the old
man, and he offered the captain $1,000.
600 if he would put about and set him
ashore.
Only those who know what 100000
meant to him can appreciate the extent
| OF his fright.
tGe His Two Sons.
I ) John Jacob (he always pronounced 1t
Yawcob) Astor married Sarah Todd, and
| han two sons, the elder a lifelong In
| valid, and William Backhaus Astor,
| who carefully and prudently conserved
| the vast fortune left to him. and allowed
the values of New York real estate
| to double and quadruple under
| him, paying taxes, although very
| careful in looking after the assess
ments, marking up the rents as quick
| " as values would warrant; relnvesting
| the vast surplus income in unimproved
| lots, plots and whole farms In the line
| of the city's growth nOwhard. These
farms are rapidly becoming what the
real estate men call "gilt-edged," but
| up their hands In admiration Of the
| Aston shrewdness, without ever taking
| leaf out of their book by putting away
| few thousands in the outlying dis
trlcts to return to their grandchildren
as millions.
! William B. Astor married Miss Arm
! strong. q stataly dame Of the old school