Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
The death of Mr. Vanderbilt was a great surprise, especially to
Wall Street, as very few brokers were aware even of his failing
health. On the 8th day of December, 1885, he arose early,
apparently no worse in health than he had been for a year
previous. He went to the studio of J. Q. A. Ward and gave that
artist a sitting for the bronze bust ordered by the Trustees of
the College of Physicians and Surgeons. Mr. Depew called upon
him at one o’clock, but finding that Mr. Robert Garrett,
President of the Baltimore & Ohio Railroad Company, had also
called to see Mr. Vanderbilt, Mr. Depew waived his opportunity
in favor of Mr. Garrett. Mr. Garrett was conversing on his
project of getting into New York by way of Staten Island and a
bridge over the Arthur Kill. They were in the study. Mr.
Vanderbilt sat in his large arm chair and Mr. Garrett sat on a
sofa opposite to him. It seems that Mr. Vanderbilt was in
perfect harmony with the plans of Mr. Garrett. While he was
replying to the remarks of Mr. Garrett the latter observed that
his voice began to falter and there was a curious twitching of
the muscles about his mouth. Soon he ceased to speak and had a
spasm. In a moment he leaned forward and would have fallen on
his face on the floor, but Mr. Garrett caught him in his arms,
laid him gently on the rug and put a pillow under his head. This
was only the work of a few moments, but before it was
accomplished the greatest millionaire in America had ceased to
breathe. When Dr. McLean, the family physician, arrived he said
a blood vessel had burst in the head, and so death, according to
the frequently expressed wish of Mr. Vanderbilt, was
instantaneous.
On the announcement of Mr. Vanderbilt’s death, (which was after
Board hours), a panic was predicted in the stock market. A pool
was formed of the most wealthy leading operators, with a capital
of $12,000,000, to resist such a calamity. It was not required,
however. There was a reaction of a few points in the morning
following, which was recovered before the close of the market.
The stocks of Mr. Vanderbilt’s properties, as well as the
properties themselves, had been so well distributed that such a
disaster could hardly have occurred without a strong outside
combination to help it, and the prevalent desire there was to
assist speculation in the very opposite direction. The remains
of Mr. Vanderbilt were conveyed to New Dorp and deposited in the
tomb without any ostentation.
In the chapter on the young Vanderbilts a brief account of the
disposition of the mammoth fortune of $200,000,000 is given.
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CHAPTER XXXVI.
“YOUNG CORNEEL.”
Public-domain text, read in full here on John Shaqi.
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