Evening star., 1939-11-26


known as "the landlords of New York"
They owned more real estate in the city
than any one else. Knowing that he
owns vast amount without knowing
how much (of total estimated at $75,-
100000 In 1914 he sold at least SIG, 900, 900
worth from 1919 to 1929 wags today find
1t more to the point to call Vincent Astor
merely "the landlords landlord"
Real estate is the one thing Astor won't
discuss. He is content to have the world
draw its own conclusions from his man
agement policies, which colleagues sum
up in two phrases: Improve the prop
erty" and Keep the tenants happy"
Properties Improved.
Improve the property" is sharp re-
versal of the traditional Astor policy. In
the old days the family gave little regard
TO the nature of the Development
rickety tenements, lumber yards. Junk
shops; it made no difference so long as
the rentals were coming in; for ulti-
mately the growth of the city would
catch up with that neighborhood and
then the sale price would be multiplied,
with tremendous profits for the Astors.
Since he came of age, Vincent Astor has
spent at least $4,000 000-an average of
three-ouarters of million year-in i'm
proving his properties.
OF all his real estate, the parcel near
est his heart is the ST. Regis Hotel, which
his father built. He pays a visit there
every day, knows how many rooms are
rented, what the menu is, whether the
mustard is sharp and how big are the
chops.
He picks the dance bands that play
there, the girls who dance there, and
the skating stars who do their stuff on
the ice OF the Iridium Room. The girl
who for long time starred in the
Hawaiian Room he hired when she
boarded his yacht to dance for him one
night far of in the South Seas.
The rising platform on the st. Regis
roof was his idea. So was the ice which
slides out over the Iridium Room floor.
Instinct for Showmanship.
There may be certain nostalgia back
OF this hotel interest. For Astor was
born on the site Of another hotel, the old
Waldorf-Astoria, which since has given
way to the Empire State Building. But
there is also an instinct for Snowman
ship
The Snowman in Astor comes out un-
mlstakably in his role as landlord When
he advertises his apartments in the
newspapers, the ads always begin win
cent Astor offers"
His vacations two months in each
twelve, he spends on his yacht, Nourma-
hal. He goes usually to the South Seas,
collects fish and birds and animals for
the Bermuda and New York Zoos, puts
on diving helmet and drops under the
water to watch the colored fish play, or
organizes treasure hunts in romantic
spots like the Galapagos
The yacht. where President Roosevelt
has been frequent guest, is the scene
OF his favorite practical joke: Interlard-
ing real radio news broadcasts with
phoney news of tailspins in stocks he
knows are held by one or more of his
cruise guests. Astor loves practical jokes
At least one of them has been carried
on for years without discovery. He
won't talk about that one, but others
involve trick walters, rubber doughnuts
and fake magazine articles incorporated
into bona-f1de magazines.
When he is at home, Astor anchors
the Nourmahal in the Hudson and sleeps
on it because he says "it gets me away
from the telephone" He has less logical
| explanations, or none at all, for other
| habits, such as: Smoking cigarettes all
day and switching to a corncob pipe
after dinner; spending Sunday morn
ings, before going to an Episcopal
church (Which he attends regularity in
winding the clocks and repairing the
wicks and f1ints Of the cigarette lighters
in whichever of his homes he is staying
at the moment.
His phflanthropies are many, virtually
all anonymous. He sits on the boards
of the New York Public Library, for
which he collects specimens, and the
New York Hospital, where he built a
! home he leases to nurses at low rentals
and where he is one of the financial
supporters of clinic intended to help
wipe out venereal disease.
In politics, he considers himself as
liberal as he ever was. He won't discuss
the New Deal, either pro or con, be-
cause he feels his relationship there is
personal one with his old friend, Presi-
dent Roosevelt, whom he continues to
meet frequently and cordially in spite
of gossip to the contrary. His friends
say he still believes in the Roosevelt OBJ
jectives, but doesn't think the New Deal
has always taken the best path toward
| them.
He approved the Presidents stand for
repeal of the arms embargo but feels
there should be some way to prevent
| United States shipping from being dried
up by the war. Although a director of
United States Lines Che is also interested
| in Western Union, the Great Northern
Railroad, Chase Bank, United States
Trust and sugar. he opposed that COM
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