Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-17

special legacy of 100000 was left 10
Cornelius, and finally 1.-THE residue OF
William H. s2O0oc0.C00 was divided equal
ly between Cornelius and William X.
This residue amounted 10 nearly $4,000
&C. These figures would give Cornelius
Vanderbilt az least S72,Oe300 fifteen years
ago. and under his skilful and watchful
management that bulky nucleus of wealth
Is believed TO have nearly doubled itself.
A very large proportion Of the securi-
ties left By William II. Vanderbilt were OF
character usually termed gilt edged.
AS specified In his Will the sSO00o.ooo
which he directed to be divided into
eight equal parts for the use and benefit
OF mis- eight children embraced such Sc
curities as tho following: Thirty-fve
million dollars OF United states Govern
ment per cent. bonds. payable In lsN;
s. 10000 of second mortgage bonds OF the
Lake Shore, bearing Z per cent. interest
and payable i'm 1893: 100000 Pine Creek
railroad bonds. 6 per cent, interest and
payable In 1852: 100000 Chicago and
Northwestern sinking fund bonds, bear
ing interest at per cent. and s3.cc0OoO or
Chicago and Northwestern bonds, bearing
interest at > per cent, both classes or
bonds due In 1929. and ST .Co0000 OF bonds
OF various other railroad companies, all
| bearing 6 per cent. interest. IL Is safe
| to say that Cornelius Vanderbilt did not
| sacrifice dollar of his portion of these
! first-class securities. They have been
| steadily rolling up wealth for him, while
his other investments have yielded an
income far in excess Of his expenditures
and his benefactions combined.
HIS HOLDINGS OF STOCKS.
Cornelius Vanderbilt was the largest
| stakeholder OF the New York and Harlem
railroad. He owned, it is said. about ~
per cent. of the 100000 stock of that
| Corporation. This 100000 of Harlem
stock. on which the New York Central
railroad guarantees In perpetuity per
cent. dividends annually, is now worth
in the market about $27, 100000. Mr.. Van
derbilt also was one OF the largest indl-
yidual stockholders in the New York
Central railroad, the Lake Shore. the
Michigan Central, the Chicago and North
western. the Cleveland, Cincinnati, Chi
I cago and st. Louis and the New YORK,
New Haven and Hartford railroad. Not
| many years ago he held about 5000
shares Of New York Central stock in ms
own name, but more recently he reduced
his stock-hodings in that property ana
Increased his bond-holdlngs. He was
known to own many millions or the
bonds of the Lake Shore and Michigan
Central railroads.
While the bulk of Cornelius Wander
bilt's estate consists of railroad stocks
asd bonds. he was for many years con-
slant investor in good municipal bonds
and in the stocks of banks and trust
companies His holdings Of real estate
were not large, outside OF his residential
property In this city and Newport. The
Vanderbilt building, at Nassau and Beck
man streets, belongs TO the estates OIL
Cornelius and w. X. Vanderbilt jointly
That is the only business block in Ne"
York of consequence in which %orhehus
Vanderbilt was interested.
Chauncey NJ. Depew was asked last eve
ming for an estimate of the extent o.
Cornelius Vanderbilts wealth, and he re-
piled: II am unable TO give any exac
Information on that point, and | do no
care to do any guessing relative TO it
Mr.. Depew said that all Of his deac
friends investments were of permanen
and conservative character. He had M
speculative holdings.
A person who had known Cornelius
Vanderbilt throughout his entire bushes
career, roushy estimated Mr.. Wander
bits wealth as follows:
Railroad stocks and honds...... 100000
Government bOnds...... .......... 100000
Other stocks and bonds.......... 100000
Works Of art, etc................. l,ooOV
Total .... ...... ........... .Sl26,50O 90
OF this vast property. 100000 Is hell
= in trust under the terms Of the will
: William II. Vanderbilt, the father o
, Cornelius. Each one Of the eight chlldre
, Of william II. Vanderbilt received 5000
600 outright and 100000 to be held II
trust during his and her lifetime. tn
> division of the remainder of the estat
/, between Cornelius and William K. Van
I, | derbit was made without any restric
lions.
Neither Mr.. Depew nor any OF the otne
, friends Of Cornelius Vanderbilt was abi
! TO say Yesterday what disposition ne ha
, made of his property. He left vii
! which was made a few years ago. ant
/ until that document is read, even thos
= persons most closely interested VIII no
r know whether this great fortune ma
r been divided or has been left in the form
S OF a trust for the joint benefit Of IN
e heirs.
t TWO PALATIAL RESIDENCES.
S Mr. Vanderbilrs city residence Is prob
u ably one OF the finest and most cost
; private houses in the world. 1t was en-
larged and rebuilt six years ago. and
; now occupies the entire block on IN
west side OF Fifth avenue, from Fifty
seventh 10 Flfty-eighth street, It's primer
pal entrance being on the nrst-name
street. Early in 1892 Mr. Vanderbilt con
. tracted with David III. King, Jr., IN
! builder. to tear down and remove NV
brown-stOne houses at the rear OF hi
n residence, which then occupied only IN
: corner OF Fifty-seventh street and FIT
avenue, excavate about 80 feet down I
bedrock, and produce with brick, stone
r iron, steel, glass, marble, and innumera
q BILE artistic appliances a fOur-story struc
Z ture. 125 feet square, after the genera
style of the Chateau de BlOis, In France
= With plans prepared by George Il. Pos
= the architect MT. King proceeded VIII
4 his work and prosecuted II TO success
ful finish under the watchtul eye or II
p millionaire owner: No expense W.
l spared TO bring the completed structuI
q up 10 Mr.. Vanderbit's high Ideal AS
) now stands, with it's elaborate and cost
e interior and exterior decorations, IN
4 house represents an expenditure OF neal
: | ly 100000 Each branch of the wor
was given into the hands OF eihcient an
| responsible master workmen. NO PAL
!, | was forgotten, and the points OF june
ture were so nicely planned that eac
separate piece Of work htted INTO It's Pre-
per place with mathematical precision
! More than 600 men were employed o
4 ! different times upon the structure, an
= occasionally il was found necessary I
| work az night, under powerful electrl
, | lights.
Since its completion this palatial mar
| sion has been one of the principal slshl
of New York There is a massive porte
cochere on the Fifty-eighth street sld'
and an ornamental iron fence eight fee
, high and painted black surrounds IN
I | building, protecting attractive landscap
p ! effects on the three exposed sides or IN