Astor, John Jacob, 1763-1848; Businessmen -- United States -- Biography
The case was narrowed down to the plain and simple point that Roger
Morris was not the legal owner of the estate, and that the rightful
heirs could not be made to suffer for the "treason, contumacy and
contravention" of another. Astor won, and as a compromise the State
issued him twenty-year bonds bearing six per cent interest, for the
neat sum of five hundred thousand dollars--not that Astor needed the
money but finance was to him a game, and he had won.
In front of the first A. T. Stewart store there used to be an old woman
who sold apples. Regardless of weather, there she sat and mumbled her
wares at the passer-by. She was a combination beggar and merchant,
with a blundering wit, a ready tongue and a vocabulary unfit for
publication.
Her commercial genius is shown in the fact that she secured one good
paying customer--Alexander T. Stewart. Stewart grew to believe in her
as his spirit of good luck. Once when bargains had been offered at the
Stewart store and the old woman was not at her place on the curb, the
merchant-prince sent his carriage for her in hot haste "lest offense be
given." And the day was saved.
When the original store was abandoned for the Stewart "Palace" the old
apple woman with her box, basket and umbrella were tenderly taken
along, too.
John Jacob Astor had no such belief in luck omens, portents, or mascots
as had A. T. Stewart. With him success was a sequence--a result--it
was all cause and effect. A. T. Stewart did not trust entirely to
luck, for he too, carefully devised and planned. But the difference
between the Celtic and Teutonic mind is shown in that Stewart hoped to
succeed, while Astor knew that he would. One was a bit anxious; the
other exasperatingly placid.
Astor took a deep interest in the Lewis and Clark expedition.
He went to Washington to see Lewis, and questioned him at great length
about the Northwest. Legend says that he gave the hardy discoverer a
thousand dollars, which was a big amount for him to give away.
Once a committee called on him with a subscription list for some worthy
charity. Astor subscribed fifty dollars. One of the disappointed
committee remarked, "Oh, Mr. Astor, your son William gave us a hundred
dollars."
"Yes," said the old man, "But you must remember that William has a rich
father."
Washington Irving has told the story of Astoria at length. It was the
one financial plunge taken by John Jacob Astor.
And in spite of the fact that it failed, the whole affair does credit
to the prophetic brain of Astor.
"This country will see a chain of growing and prosperous cities
straight from New York to Astoria, Oregon," said this man in reply to a
doubting questioner.
Public-domain text, read in full here on John Shaqi.
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