VANDERBILT’S FORTUNE
A youth of sixteen, living on Staten Island, New York, bought a small sailing yacht in 1810. One day it occurred to him that the little craft would earn him some pocket-money, and he let it be known that he was willing to carry farm produce and passengers between Staten Island and Nev/ York. There was a rush to use the service, and soon young Cornelius Vanderbilt had to buy other sailing boats. It was in this way that the famous Vanderbilt family founded its fortune.
From shipping Vanderbilt transferred his attention to railways, and one after another acquired important lines in the United States. When he died, on January 2, 1877. he had the controlling interest in the New York Central and Hudson River, the Lake Shore and Michigan Southern, the Harlem, and the Canada Southern railways, as well as holdings in many others. His fortune was estimated at about 100,900,000 dollars, the bulk of which he left to his son, William Henry, who had increased the amount to 200,000.000 dollars at the time of his death. Both Cornelius and his son gave away vast sums to charities.
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Wairarapa Times-Age, 6 February 1939, Page 3
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191VANDERBILT’S FORTUNE Wairarapa Times-Age, 6 February 1939, Page 3
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