The Washington herald., 1914-06-27
HISTORY BUILDERS.
Commodore Vanderbilt as Money
Lender.
written expressly fer ne Hersldl
By DR. Z. y. EDWARDS.

I was chatting with a veteran Of the
Wall street district In New York at the
time when Wall street was brought con-
spicuously to the attention Of the country
by the so-caHed Pujo Investigation at
Washington. This veteran. Henry Fitch.
was associated when q young man with
the late Addison Jerome. Leonard and
Lawrence Jerome were names with which
the American public generation ago
was as familiar as Is the public Of the
present time with that OF J. P. Morgan
Addison Jerome was a less-known BROTH
er. and yet he was the most successful
from the business point Of view Of these
three Jeromes, who at one time were 50
prominent in the speculative and secur1-
ties market.
Il don't know what would ha-s been
thought by Commodore Vanderbilt" said
Mr.. Fitch. ''f he had been summoned be-
fore an investigating committee which
was commanded by Congress to make In
vestigations such as the Pujo committee
has been empowered to do.
Such a thing as investigation by .
Congressional committee into his rela-
tions with the money market and Wall
street activities would have been regard
ed by Commodore Vanderbilt as incon-
ceivable. He would have spoken of his
relations with the market as nobody's
business but his own and that OF the
men with whom he dealt
This was the frst intimstion had
ever received that Commodore Wander
bilt. In addition to his railroad interests.
also carried on transactions. not specu-
lative. with Wall street brokers' I asked
Mr.. Fitch for further information
For about ten or twelve years, begin
ming at the time when he gave up steam
boating. Commodore Vanderbilt was con-
spicuous as a money lender" said Mr..
Fitch. People who wanted to borrow
money for use in the stock excbangs
went to him exactly as they went to
banks
He had q private once in an old-fash-
ioned house at the lower end of Broad
way. His ONCE was formerly the parior
Of the house. His once furniture was
very simple He sat in an old-fashioned
chair close by the window so that he
could see anybody who entered the Of
fee.
II was frequently sent by Mr.. Jerome
to borrow money Of the commodore.
usually in large amounts. The conversa-
ton which We had was almost always
exactly the same The commodore would
say to me. Well. son. you want soma
money!
II would reply. Yes. that is what I
have come for
How much does Jerome wantT the
commodore would ask.
My customary answer was, 800. .oo0'
Sometimes Il was a little more than that:
sometimes a little less
Then the commodore would say to me:
Well. son. you trot back to Jerome's Of
fee and get your collateral and then you
come back to me as quickly as you can.
and after you have given the collateral
to me I will give you the check for
10000
He was always very pleasant never
saw a sign Of the brusque or imperious
way which some persons attributed to
him. He was Just as offhand in making
a loan of $4,000 as he would have been
had he kept a peanut stand and was SELL
ing q pint Of peanuts to me. But I al
ways observed that he turned the securi-
ties over sheet by sheet, giving 10 each a
wonderfully swift and scrutinizing
glance. Then he did some mental COM
| putation. assisted by his fingers. After
| he had done this, he signed the check
| smiled pleasantly upon me, and said as
I went out that he presumed that he
would see me again in the course OF a
! few days-as he usually did-on the same
| errand."
lC0rgnsht, 1874 By T. J. Edvari& All riEhts re-
| sarTedN