The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-10-12

OOm. Ills 1ulnO was ike u Tluo Ddrrc1.
It carried thought straight to the mark.
1t was difficult to induce him to take up
a subject, but when he did nothing could
divert him from 1t until decision was
reached. He never doubted that verdict
orievealcd 1t, but acted upon 1t with light
ningliko rapidity. He thus found millions
where Others had lost them.
The development Of American railway
systems has produced many strong men,
but their operations had been generally
disastrous to their stockholders and bond
holders. They were at that time honey
conibed with parasites, while freight and
passenger agents exercised an arbitrary
power and petty tyranny toward individ-
uals and localities to which most of the
subsequent public nnimosity against rail
roads and railroad men is due. They broke
connections on the whin Of an offended
officer and cut each others throats to graf
ify the spite OF traffic manager.
Tho commodore made up his mind that
railway transportation was to be tho lead
Ing business of tho future, that there was
no limit to Its expansion, and that under
business management and with business
methods railroad stocks We're the best In
vestment in the country. He knew that
railway chaos wAs his opportunity. Tho
stock Of tho Harlem railroad was foot
ball in Wall street Mt from s3 to IS share.
Its bonds wero liscredited, its equipment
was unfit for tho service and It's roadbed
unsafe. Capitalists had dismissed it from
their calculations as worthless and hope
less property. 1t found in tho man Of
steamboats, and steamships its regenerator.
Tia lpny, hn ronpln upl boI ;oynJ that tba
same feelings moved them on land as on
water. Speed Is the first demand Of the
American, with safety, II possible, though
he will risk much to 60 on the fastest line.
Wall street believed tho $4,000, 900 the
commodore spent on tho road thrown
AWAY. 1t gave the company new cars and
locomotives, safo and stable way and
regular and rapid train service 1t illus
trated Mr. Vandcrbilt's genius in his cho
sen field of competition. The Hudson
River and Harlem roads both ran from
New York to Albany. Tho first, which
had not known Of the existence of the lat
ter, now felt tho effects of its keen aud
dangerous rivalry. In less than two years
the stockholders OF the Hudson line wcro
begging him to take their road This he
did at about $50 a share. Railway traffic
had found new and original master.
Quicker timo and better facilities attracted
passengers aud freight from the west to
tho Atlantic seaboard from tho southern
routes and ports to New York. They drew
from the water lines With lower fares
and rates to tho public the volume Of new
business soon brought these bankrupt
properties into tho best paying Investments
in the country. The commodore mado
millions, and the other stockholders shared
according to their holdings. The public
received better service at lower prices and
New York new impetus in ito
truue 80
King of Wall Street.
In tho old days Of leadership in finance
and speculation Wall street always had q
recognized king. He had large follow
ing, and his sway was daily disputed.
After innumerahlc victories and the ruin
of thousands Of individuals and combina-
tions he was dothroncd and bankruptcd in
some wild panic. His SUCCESSOR wond
take tho pcrilous place to pursue the 5t.mo
career and meet II like fate. But iii Mr.
Vanderbilt this center Of tho risks and
values Of tho continent found q master
whose RESOURCES were great and whose
Judgment was unerring, 1t was equally
dangerous to follow or fight him on ac-
count Of tho rapi1ity with which lie
changed his policy as he saw before others
did tho gathering storm or tho rainbow Of
prosperity "Wall street owes me ST ,000,-
600 year." heard him say and until
the last he collected that md in some years
many millions '++
had known tho commodore well for
several years. and one day he suddenly
asked If he could retain mo as attorney md
counsel. l had been appointed and con-
1rncd United States minister to Japan,
position Of power and prominence bccause
of the opening of that country to ciyiliza-
tion. "No future in politics." ho said.
Railroads the career for young man
now. Don't be a fool" He was ~, and l
was 33, and thus began confidential and
personal relationship which during the7
intervening 81 years has continued un-
broken and uncloudcd through four gen
erations of his funily. 80
Tho lifelong battle with the world
makes most successful men harsh, unsym-
pathetic, cruel and narrow. Attack and
defense hAyo become n habit, and such
men are as wary as isolated and suspi-
cio,,s as North American Indian on the
warpath. Their associates and followers
complain that points arc not given nor Op-
portunitics shared for making money. FIX
perence teaches great operators the dan
gers Of revealing their plans to any one.
A sovereign will not share his prcrogatives
with subject, and a man of great wealth
Intensely dislikes to have his friends grow
rich. 1t may lose him their services, or his
Importance mny bo diminished by divid-
ing his prestige. If from suggestion an
other reaps rich harvest, it is very diill-
cult for him not to feel that the money
made was n loan from him to DO repaid
with interest.
Ono Of tho most powerful men of his
time once said to me, 81 have dono my
best to keep those about mo from getting
much money, but If they had not got rich
In spite Of mo they could not havo staid
with me.
His BusineHs Policy.
These common qualities of the rich had
many notifications with self reliant and
original genius like Commodore Wander
bilt. AS tho railway system under his
control expanded he sought the assistance
and association of strong men from many
departments Of activity. Ho drew into
his various companies remarkable body
Of able and successful directors and man
ayers. He was keen judge Of human
nature and his cold, brilliant, black eyes
locked over and through men us they did
horses uo was merciless to Incompetence
or incfilciency and tested to the utmost tho
powers of those who showed capacity, but
lniscr trusts, compensation aud position