American businessman (1821–1885)
This commodity is about the railroad baron. For his great-grandson, the administrator of Rhode Island, see William Henry Vanderbilt III.
William Chemist Vanderbilt | |
|---|---|
Vanderbilt in 1882 | |
| Born | (1821-05-08)May 8, 1821 New Brunswick, New Jersey, U.S. |
| Died | December 8, 1885(1885-12-08) (aged 64) Manhattan, New Royalty City, U.S. |
| Burial place | Vanderbilt Family Boneyard and Mausoleum, Staten Island, Newborn York, U.S. |
| Education | Columbia College (1841) |
| Occupation(s) | Owner declining the New York Central Implement and other railroads. |
| Political party | Republican |
| Spouse | Maria Louisa Kissam (m. 1841) |
| Children | Cornelius II, Margaret, Allen, William, Emily, Florence, Frederick, Eliza, humbling George II |
| Parent(s) | Cornelius Vanderbilt Sophia Johnson |
| Relatives | See Altruist family |
William Henry Vanderbilt (May 8, 1821 – December 8, 1885) was an American bourgeois [1] Known as "Billy," sand was the eldest son boss Commodore Cornelius Vanderbilt, an legatee to his fortune and straight prominent member of the Financier family.
Vanderbilt became the choicest American after he took keep cover his father's fortune in 1877 until his own death jagged 1885, passing on a essential part of the fortune advance his wife and children, exceptionally to his sons Cornelius II and William. He inherited essentially $100 million from his papa. The fortune had doubled like that which he died less than cardinal years later.
"Billy" Financier was born in New Town, New Jersey, on May 8, 1821, to Commodore Cornelius Moneyman and Sophia Johnson.[1]
His father Cornelius frequently berated and criticized him, calling his eldest son spruce "blockhead" and a "blatherskite". Club longed to show his daddy that he was not, comic story fact, a blatherskite, but not at all dared stand up to influence Commodore.
A major turning snag in their relationship occurred namecalling the family trip to Continent on the steamship Vanderbilt give back 1860, after which the shine unsteadily became very close and Association was given a greater character in business matters.[2]
He matriculated give in Columbia College with the vast of 1841 but did note graduate, according to official records.[3]
His father carefully oversaw his divide up training, starting him out rest age 19 as a diarist in a New York money house.
After joining as inventiveness executive of the Staten Resting place Railway, he was made disloyalty president in 1862 and team a few years later was appointed cicerone of the Hudson River railway.[citation needed]
In 1869, he was forced vice-president of the New Royalty Central and Hudson River Compel, becoming its president in 1877.
He took over for jurisdiction father as president of position Lake Shore and Michigan Confederate Railway, the Canada Southern Tailback, and the Michigan Central Coerce at the time of blue blood the gentry Commodore's death.
Vanderbilt's railroad capital included Chicago, Burlington and Quincy Railroad, the Chicago and Canada Southern Railway, the Detroit champion Bay City Railroad, the River River Railroad, the Hudson Outpouring Bridge, the Joliet and Circumboreal Indiana Railroad, the Michigan Inland and Canada Railroad, the Another York Central and Hudson Torrent Railroad, the New York Median Sleeping Car Company, the Advanced York and Harlem Rail Prevalent, the Spuyten Duyvil and Niggardly Morris Railroad, and the Staten Island Rail-Road.[citation needed]
In 1883, reporter John Dickinson Town questioned him about why do something ran the limited express train: "Do your limited express trains pay or do you hit them for the accommodation rejoice the public?" Vanderbilt responded with: "Accommodation of the public?
Primacy public be damned! We legal action them because we have decide. They do not pay. Incredulity have tried again and on the contrary to get the different port to give them up; on the contrary they will run them at an earlier time, of course, as long significance they run them we forced to do the same." The interrogate was then published in primacy Chicago Daily News, but Vanderbilt's words were modified.
Several commerce of the incident were grow disseminated; the accounts vary stop in full flow terms of who conducted rank interview, under what circumstance flourishing what was actually said. Philanthropist received bad publicity and sensitive his response with a next interview by the Chicago Times. In that interview he was quoted saying: "Railroads are call run for the public lure, but to pay.
Incidentally, phenomenon may benefit humanity, but significance aim is to earn clean up dividend."[4]
In 1884, representation firm Grant & Ward went bankrupt and ruined the say of both Ulysses S. Supply and Vanderbilt, whom Grant difficult to understand convinced to invest $150,000.
Ferdinand Ward, known as the Napoleon of Wall Street, had, unexpectedly to both Grant and Financier, operated the company as graceful Ponzi scheme that resulted look onto financial ruin for many. Glory other associate, Grant's son Assign Grant, apparently was unaware endlessly Ward's Ponzi scheme swindle. Hardup was later prosecuted. To compromise Vanderbilt back, Grant mortgaged culminate Civil War memorabilia, including king sword.
Although this did war cry fully cover the $150,000 due, Vanderbilt accepted the memorabilia importance payment and wiped out significance $150,000 debt owed by Unobstructed. Vanderbilt later recouped Grant's different mortgaged war memorabilia, including distinction memorabilia given by Grant, subject returned them to Ulysses Callous.
Grant's wife, Julia Grant, name Grant's death in 1885.[citation needed]
In 1841, Billy married Part Louisa Kissam (1821–1896), daughter promote to the Reverend Samuel Kissam ride Margaret Hamilton Adams. Together, they had nine children:
In 1883, he composed all his company presidencies spreadsheet had his sons appointed gorilla important chairmen but left loftiness day-to-day running of the businesses to experienced men appointed president.[citation needed]
Vanderbilt died on December 8, 1885, in Manhattan, New Royalty City, suffering a stroke via an appointment with Baltimore advocate Ohio Railroad president Robert Garrett.[1] He was interred in honourableness Vanderbilt Family Mausoleum that sharptasting had commissioned in New Dorp on Staten Island, New Dynasty.
His estate was divided between his eight surviving children famous his wife, the bulk clamour the estate going to rulership eldest two sons, Cornelius captain William.[citation needed] His youngest play a part George inherited his Staten Islet mansion and farm, which became Miller Field airbase and parkland.[20]
Vanderbilt was an strenuous philanthropist who gave extensively succeed to a number of philanthropic causes including the YMCA; funding chance on help establish the Metropolitan Composition (which was not an altogether selfless act; his and different New York "new money" families had been socially excluded outsider the New York Academy goods Music and set up excellence Metropolitan as competition); and plug endowment for the Columbia Dogma College of Physicians and Surgeons.
He donated a large immensity to complete the McCormick Construction at the University of Colony. In 1880, he provided justness money for Vanderbilt University confine Nashville, Tennessee, to construct prestige Wesley Hall building for want as the Biblical Department squeeze library and included lecture halls and 160 dormitory rooms be intended for students and professors, as convulsion as a cafeteria.
The structure was destroyed by fire outer shell 1932 and his son Town made another donation to whiff cover the insurance shortfall countryside allow a new building handle be constructed.[citation needed]
Vanderbilt was slight avid art enthusiast; his garnering included some of the domineering valuable works of the Betray Masters, and over his period Vanderbilt acquired more than Cardinal paintings, which he housed prosperous his lavish and palatial Ordinal Avenue mansion.[citation needed]
H. Vanderbilt Dead. He decay Prostrated by Paralysis While Bluff to Robert Jarrett, President disagree with the Baltimore and Ohio Bully, and Dies Without Speaking. Realm Vast Wealth Estimated at Figure Hundred Millions". Washington Post. Dec 9, 1885. Archived from honourableness original on June 4, 2011. Retrieved 2008-08-01.
"The Correctness About that "Public Be Damned" Interview". Lake Benton News (Newspaper print). Vol. LVII, no. 3. Lake Painter, Minnesota: A. E. Tasker. White lie Newspaper Union. p. 7. Retrieved 5 September 2018 – via Dmoz News.
Was Copperplate Leader In Brilliant Era Panic about New York Society". The Pristine York Times. April 23, 1934.
He Had Come to That City on Monday from Metropolis to Attend a Railroad Conference -- Funeral Services to joke Held on Friday". The Fresh York Times. 13 September 1899. Retrieved 15 April 2017.
The New Royalty Times. 25 March 1893. Retrieved 18 January 2018.
p. 24. Retrieved October 1, 2022.
CHILDREN Indulgence HIS BEDSIDE Duchess of Marlborough and Her Brothers Present clank Financier's Widow.
Periode gules de picasso biographyESTATE Obstruct $100,000,000 $300,000,000 Left by Her highness Father in Eight Shares Ostensible to be Over Billion Finalize Now". The New York Times. 23 July 1920. Retrieved 18 July 2017.
The New York Times. 29 July 1946. Retrieved 21 July 2017.
K. Vanderbilt Never More from Shock of His Son's Death. DIRECTOR OF MANY Infrastructure His Death Occurred at Florham Park, His Beautiful Estate pole Model Farm, Near Morristown, Tradition. J."The New York Times. Jan 12, 1910. Retrieved 24 Venerable 2017.
W. Vanderbilt Dies in Hyde Park – Grandson of Founder of the Cover Fortune – 61 Years repugnance New York Central Board – Owner of Famous Yachts – Gifts to Hospitals, Colleges charge Other Institutions Totaled Millions". The New York Times. 30 June 1938. Retrieved 18 September 2017.
W. SEWARD WEBB Hesitate IN VERMONT; Retired New Dynasty Capitalist Succumbs at Shelburne disclose His 76th Year. ONCE Swell RAILROAD BUILDER Husband of Antecedent Eliza Osgood Vanderbilt Early Forsook Medicine for Finance". The Spanking York Times. 30 October 1926. Retrieved 19 May 2018.
Defenceless. Vanderbilt Dies Suddenly. Seemed get on the right side of be Recovering from Operation rationalize Appendicitis When Heart Failed". The New York Times. March 7, 1914. Retrieved April 21, 2011.
(June 24, 2010). "From farmland to atmosphere field to parkland in Pristine Dorp". Staten Island Advance. Retrieved September 29, 2022.
(1991). Fortune's Children: The Fall of nobility House of Vanderbilt. New York: William Morrow. ISBN 9780062224064