Canada -- Description and travel; United States -- Description and travel
Library, which his son, William B. Astor, also aided, so that besides
the buildings it has an endowment of about $1,800,000. The great Astor
estates, now represented by the fourth generation, are estimated at
over $200,000,000.
The splendid palace at the northwest corner of Fifth Avenue and
Thirty-fourth Street was built by Alexander T. Stewart when at the
height of his fame as the leading New York merchant. Intended to
eclipse anything then known in New York, he expended $3,000,000 upon
the building and its decoration, so that this house outshone all other
New York residences until the Vanderbilt palaces were erected farther
out Fifth Avenue. Its latest occupant has been the Manhattan Club.
Stewart's fortune was accumulated through the facilities at New York
for successful trading, though much of his wealth was afterwards
invested in large buildings in profitable business localities, and
notably in great hotels. Stewart, like Astor, began his career with
almost nothing, but at a later period. He was born at Belfast,
Ireland, in 1802, studied at Trinity College, Dublin, but before
taking his degree migrated to New York as a teacher in 1818. He got
into the dry-goods trade in a small way near the City Hall Park, and
his business grew until he acquired all the adjacent buildings, and
put up the store at Chambers Street, and afterwards the retail store
farther up Broadway. Enlarging in every direction, his business became
the greatest in the country, with branches in the leading cities. He
was an extensive importer, and owned various factories making the
fabrics he sold. His business methods were profitable but unpopular,
involving the remorseless crushing of rivals, so that he had few
friends and many enemies. Yet he was charitable, sending a shipload of
provisions to relieve the Irish famine in 1846, and he made large
public gifts to aid suffering. When he died he was building on Fourth
Avenue an enormous structure intended as a "Home for Working Girls,"
on which $1,400,000 were expended. It was opened soon after his
death, but with such stringent regulations that a rebellion soon arose
among the intended beneficiaries, and it had to be closed. There was a
shrewd suspicion that the difficulty came by design, for the building
was soon reopened as a hotel. Stewart had scarcely moved into his
marble palace when he died, his body being put temporarily into a
vault in the churchyard of old "St. Mark's Church in the Bowerie,"
awaiting removal to the magnificent mausoleum preparing for it at
Garden City, Long Island. Then came the horrible news that the corpse
had been stolen to avenge business tyranny. The childless widow lived
in gloomy grandeur in the palace until her death, rarely seeing
visitors, and having watchmen pacing the sidewalk at all hours.
Stewart left no direct descendants, and his great business has gone,
like his estate, to strangers.
THE VANDERBILTS.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account