Great Fortunes, and How They Were MadeMcCabe, James Dabney
History
Great Fortunes, and How They Were Made
McCabe, James Dabney
United States -- Biography
Mr. Astor dearly liked a joke, and occasionally indulged in a sly bit of
humor himself. On one occasion a committee called upon him to solicit a
donation for some charitable object. The old man took the subscription
list, and, after examining it, signed it and gave the committee a check
for fifty dollars. They had expected much more, and one of them ventured
to say:
"We did hope for more, Mr. Astor. Your son gave us a hundred dollars."
"Ah!" replied the old man, dryly, "William has a rich father. Mine was
very poor."
CHAPTER III.
ALEXANDER T. STEWART.
In the year 1818, a European vessel anchored in the harbor of New York,
after a long and weary voyage from the Old World. She brought many
passengers to the young metropolis, the majority of whom came with the
intention of seeking fortunes in this land of promise.
Among them was a young Irishman who had left his home in his native land
to seek in America the means of bettering his condition. This was
ALEXANDER T. STEWART. He was the son of Scotch-Irish parents, and was
born in Belfast in 1802. Being only three years old when his father
died, his grandfather took charge of him, and proved a kind and
judicious guardian. As he was designed for the ministry by his relative,
and as his own tastes inclined him to that profession, he was given a
good common school education, and placed at college, where he made
favorable progress in his class. He was particularly successful in the
classics, and is said to retain his relish for them at the present day.
During his second term his grandfather died, and he was by this event
obliged to leave college. Abandoning the idea of entering the ministry,
he embarked for America, determined to make a fortune in the New World.
He came sufficiently supplied with ready money to insure him against
immediate want, and with letters of introduction which at once secured
him an excellent social position.
After trying in vain for some time to secure employment in a business
house, he obtained a position as assistant in a commercial school. This
he soon resigned for a similar place in a more celebrated school. His
salary here was $300, which was considered ample compensation in those
days.
Not wishing to continue in this career, however, he opened a small
retail dry goods store in New York, and began business on a humble
scale. Here he remained until the age of twenty-one, manifesting no
extraordinary business capacity, and in no way distinguished from the
many small dealers around him. Upon reaching his majority he returned to
Ireland, to look after the inheritance left him by his grandfather. The
amount which thus came to him was nearly one thousand pounds, and the
greater part of this he invested in "insertions" and "scollop
trimmings," which he shipped to America by the vessel in which he
returned. He rented a little store, on his return, at 283 Broadway, and
there displayed his stock, which met with a ready sale at a fair profit.
Public-domain text, read in full here on John Shaqi.
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