The Birmingham age-herald., 1914-12-17

in value every 10 years has been ae- cepted as automatic by real estate ex- perts. The property. as a whole, repre- sents one of the very great American fortunes, as it also represents a per fectly original and exclusive manner of maintaining and increasing it. f4
 Across the Street
 Diagonaliy across the street from the Wendell home has stood for many years the city home of Frederick W. Wander bflt. When it was built the architects and contractors met with an unexpected difficulty, for it was discovered that some 10 or 12 feet below the surface an un- derground stream of considerable s.ze flowed westerly, presumably ultimately discharging into the Hudson. The tear ing down of the Vanderbilt home illus trates the extraordinary movement of real estate on Manhattan Island in re- cent years. It also Illustrated another thing. The Vanderbilt family, beginning with William H. Vanderbilt, for years resisted the encroachment of trade upon Fifth avenue. The late William H. Van derbilt believed he had protected him self with reservations and contracts Which would forever make upper Fifth avenue immune from trade. He did not live long enough to discover that the movement of trade is irresistible, but his children have discovered this to be true and Frederick w Vanderbilt Is esteemed by many to be the ablest of the sons of William H. Vanderbilt. To his older brothers, however was bequeathed the bulk of the Vanderbilt railroad interests. If the axiom attributed to John Wendell holds good within the next 25 years, then ex-Senator Clark and Charles NJ Schwab will be discovered to have 'builded wiser than they knew" when they spent millions upon their city homes In the vicinity of Riverside Drive, for trade seems to be slowly but surely reaching toward even the great city home which Andrew Carnegie built.
 Although the recent fire which con sumed some s2,00o.oOo. money value of the great plant established by Thomas A Edison, Llewellyn Park. is the heaviest loss MT. Edison has probably ever been compelled to face, yet it is by no means such dead loss as was one which was an unhappy experience some 15 wears ago. This loss can be repaired. Mean. While. Edison is in receipt of an income which in the aggregate reaches almost fabulous figures The loss which car never be repaired and which represented practically all that Edison had gained from his indcandescent lights was tn, destruction of his plant in the New Jer sey mountains at the very moment wher It's product was exactly what Edisol expected 1t would be when he began t, work out the proposition of how best t, secure the iron ore in these New Jerse- mountains which was of a peculiar char acter- Dollar after dollar of his capi tai went into this work. His system in l volved the use of magnetism for extract ing the ore and at last it was absolutel, | S1IpGRGGff1f af hot discoveries in the Lake Superior reeio
 or great bodies of that particular kind O
 ore which could be mined and shippe
 at cost considerably below the cost O producing the Edison iron. Of cotirse | that meant the ruin of his expected in 1 dustry. Edison, however has the cour 1 age of genius and with loss of tha l property representing something lilx I s2,0OO00O, he turned to other things am 1 these are now yielding him yearly in come surpassed only by that received b, :, 10 or 12 Americans