The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1909-05-14
LIFE STORY OF A VANDERBILT.

William Henry Vanderbilt, the first
son of Commodore Vanderbilt, and the
man who first gave utterance to that
eXpression-"the public be damned
was born in New Brunswick, New Jer-
sey, May 8, 1921. His father was at
that time engaged in steamboat opera.
tions in the waters around New York,
Young William was given a common
school education and then went to
Columbia grammar school few years.
At eighteen years of age he began to
take care of himself, becoming clerk
in the house of Drew, Robinson & Co.,
Wall street bankers. His rapid mas
terry of the business was recognized by
his employers and he was quickly pro-
NOTED. He supported himself on his
salary and at the end of two years of
office labor married Louise, the daugh-
ter of the Rev. Samuel Nissan.
His employers intended to take him
into partnership, but the close confine
ment had so far broken his health that
it was necessary for him to give up
indoor work. As he had natural in
clination for farming, his father bought
him small farm at New Dorp, Staten
Island, where in 1912 he began the
cultivation of seventy acres of unim-
proved land which soon was returning
him a good income. He needed capt.
tai, however, but his father, who was
already a millionaire, refused to lend
him the $4,000 he requested. William
obtained elsewhere $4,000 by mortgage
on his farm and, on being called to
account by his father for this action,
he told the simple truth, declaring at
the same time that he was well able
to meet his engagements : with his
creditor. The result was the commodore
sent him a check for $4,000, with or
ders to pay off the mortgage, and from
this time on, such was the fathers
respect for the plans his son had I'M
folded, that he showed different re-
gard for his sons character and bust
ness ability.
The Staten Island railway having
been nearly wrecked by bad manage
ment, William H. Vanderbilt was APP
pointed receiver. His success with this
first enterprise was unqualified. In
two years he paid off all claims against
the company and had established an
independent line of ferryboats. He had
put the line on an Independent basis
and was made president. He became
the mainstay of his father in his old
age, and was elected vice president of
the New York and Harlem railroad in
1864, and the following year became
vice president of the Hudson River
Railroad company, thus becoming the
executive officer and confidant of the
Commodore, whose comprehensive and
far-r reaching plans he carried out to
success
Immediately after the death of his
father he was elected president of the
New York Central and Hudson River
Railroad company. Under his control
the New York Central combined with
the Lake Shore and Michigan the
Canada Southern and Michigan Central.
the great Chicago & Northwestern and
other smaller roads. He applied the
same watchful attention and economy.
with which he had successfully car.
RED on his farm and brought the little
Staten Island railroad out of insolv.
ency. AT one time Mr.. Vanderbilt was
much interested in horses and he once
owned the celebrated trotter Maude S.
lie resigned his various offices in 1889
because of failing health, and placed
his affairs in the hands of his son.
Cornelius. He died in New York city,
Dec. 8, 1885.