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

henry CleWS tells me mat AStOrS Iur
thought was expected to net him not
less than million 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 all 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 S20.000000 to his son
William B.. who. in 1875. 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
which was to certain extent developed
In his father. and deserved the reputa-
ton he enjoyed of liberality along liter
airy and humanitarian lines.
He was tfty-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 a value of s20.000.0O0.
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 staId, 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
a 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,
W. n
after acre became his by outright pur-
chase. He gobbled up farms, wood
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 1875,
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,OO0,0O0.
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 Ill.
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,
unaided, unpulled, unpushed, by his
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 leayen of the old-time in1u
| ence way back in the original John
| bethought himself OF European splendol
| and sought the comfort which socia
ambition suggests. put. imagine, never
satisfies. His purchase and investment
in English periodicals have brough
him notoriety, but neither fame no
influence. The most ridiculous ant
grossly absurd stories are told of tn,
losses he has sustained, something lik,
half million dollars year, in runnin,
the Pail Mall paper and magazine. Tina
he loses money l dare say, but as l
doesn't bother him any to make il, o
rather 10 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 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 hi
fellows, nor have they given any sign
of public spirit.
The general Judgment, which, like a
average sentiment, is probably abou
right, looks upon them as reputabl,
honest-dealing, fair-minded men, VIII
will not dissipate, but rather increas
the tremendous holdings bequeathe
them by their parents.
The cousins do not work harmoniou:
ly socially, but it would be too much
believe il one were asked to credit tn,
either one or the other was FOOLS
enough to diverge from the programn
laid down SO astutely more than II
years ago by the brainy originator