The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-10-14

w wien are common to very few. He
mas much more than mere money
hh, nt lie delighted in money-making
Dul, IKE all masterful men, he loved
| power. He said to me: L sometimes do
me- noonsh thing, knowing it is foolish,
ffost TO prove that l can make even a
iooIlsh movement successful
ne invested his hundred dollars in
| It'll lite sallDoat or periagua to carry
passengers between Staten Island and
neW York on 4 far-sighted judgment
| .nat there was a public demand for bet
yer service between these points. 1t
VA, was this instinct or insight which made
n nm reslstless in competitive business.
oiu ana experienced masters of trans
portatlon had controlled the steamboat
IIr r9dns of the Hudson river and Long
Island sound for years, but in short
time, though he had less capital, he drove
mem Off these waters. He saw far in
advance of his time the results which
could be obtained from ocean steamers.
Ihefe were prosperous lines plying be-
tween New York and the Isthmus of
fanama and the Isthmus and the Pacific
ports. Their managers were conserva
i've, old fashioned, old fogy and rich.
ment at this adventurer in their domain
VINO singly and alone boldly challenged
their supremacy. Thirty years after
wards l heard an old merchantmen la
menting that the commodore forced his
company to sell out to him their Atlantic
line, and pay him two-thirds the profits
on the Pacific coast to keep off that ocean.
Il HIS entry into the railway world was
the result of the same foresight and wis
dom. His mind was like a rifle barrel.
1t carried thought straight to the mark.
1t was difficult to induce him to take
up subject, but when he did, nothing
could divert him from it until a decision
was reached. He never doubted that
verdict or revealed it. but acted upon
It with lightning-like rapidity. He thus
found millions where others had lost
them.
'The development of American rail
way systems has produced many strong
men, but their operations had been
generally disastrous to their stockholders
and bondholders. They were, at that
time honeycombed with parasites, while
freight and passenger agents exercised
an arbitrary power and petty tyranny
toward individuals and localities to which
most of the subsequent public animosty
against railroads and railroad men is
due. They broke connections on the
whim of an offended officer, and cut
each others threats to crafty the spite
OF traffic manager. The commodore
made up his mind that railway transport
tatiOn was to be the leading business of
the future; that there was no limit to its
expansion, and that under business man
agement and with business methods, rail
road stocks were the best investment
in the country. He knew that railway
chaos was his opportunity. The stock
of the Harlem Railroad was a football
in Wall street at from So to S. per share,
its bonds discredited, its equipment unfit
for the service and its roadbed unsafe.
Capitalists had dismissed it from their
calculations as worthless and hopeless
property. 1t found in the man of steam
boats and steamships its Regeneration He
knew the people and believed that the
water. Speed is the first demand of the
American; with safety, if possible, though
he will risk much to 60 on the fastest
line. Wall street believed the 100000
the commodore spent on the road thrown
away. 1t gave the company new cars
and locomotives, a safe and stable way
and regular and rapid train service. 1t
illustrated Mr.. vanderbilts genius in his
chosen field of competition. The Hud-
son River and Harlem roads both ran
from New York to Albany. The first,
which had not known of the existence
of the latter, now felt the effects of its
keen and dangerous rivalry. In less
than two years the stockholders of the
Hudson line were begging him to take
their road. This he did at about $50
a share. Quicker time and better facii-
ties attracted passengers and freight
from the west to the Atlantic seaboard,
from the southern routes and ports to
New York. They drew from the water
lines. With lower fares and rates to the
public the volume of new business soon
brought these bankrupt properties into
the best paying investments in the cOun-
try. The commodore made millions and
the other, stockholders, shared according
to their holdings. The public received
better service at lower prices and New
York new impetus in its trade.
"The development of railway manage
ment has been one of the most rapid.
revolutionary and remarkable in the
marvellous story of commerce. Its prog
ress has been succession of paradOXes.
The predicted dangers have proved ben
efits and the dreaded evils blessings to
the public. 1t is natural that people
should be sensitive to any change in ex-
listing conditions among the great car
riers of the country. Upon them depend
our vast internal traffic. the equality and
stability of rates and the prosperity of
communities and individuals.
"Thc commodore had given little at
tenton to inland transportation. The
roads acquired feacneu chicago over
connecting lines. Each had its policy.
the interests of it's managers. its fight
for arbitraries and its methods of busi-
ness. and the ovcrchargcd and buffetcd
public were enduring endless expenses
and Inconvenience.
1T is easy to see the logical processes
by which most men arrive at conclusions.
They consult trusted advisors. they seek
light from every source and the mosaic
of their Judgment can be accurately
traced. This reticent, self-reliant and
bold operator seemed to jump at conclu-
sions by intuition as women are alleged
to do. Intimate friends rarely knew his
intentions and no one ever heard him give
any reasons for his plans. Sentitious
aphorsms condensed his opinions. He re-
fused larger salary from Gibbons, the
steamboat magnate of his early career,
saving. IF | am worth that to another
man / must be worth good deal more
to myself His son-n-law. Horace f.
Clark. was a very brilliant and able law
yer. but speculative and erratic in bust
ness. | heard friends plead for hours
with the commodore that Clark might he
restored to full confidence and share in
the vast enterprises then projected.
'Smartest fellow / ever knew. but a cog
loose in his machinery was the only
reply of this memorable relative. Fools
can make money. but only wise men can
keep it. was one of his maXims. and eight
ont of every ten of his millionaire con-
temporaries and intimates became bank
rupt
an the old days of leadership in