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Vanderbilt's Income

Vanderbilt's Income image
Parent Issue
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Vanderbilt lias an incoine of neatly I',1 00,000 a yearornearly$] 1,000 a daj or $7.50 a minute, aml vet he vvorks as hard as the worst paid ( I i' he pursues the same pTan as lus fatbër, and leaves riïriê-tenths of his fortuñi to one so, the result of long years of such aecumulatíon will be startlüig. lie lias ten chlldren, however, and may take a different ccmrsè. At present he s building a house on Fifth avenue. ■i is to be the flnest private residence in America, and eöcourages bis sons to do likewise, wïnch is very different from the old Cornelius Vanderliill's praötices. lie ñever spent extravagant sums of monev on himself. and not much on his children, Of course, William II. Vanderbilt's power lies largely in the fact tliat he knows in advance of all outaide the exact condition of his roads, their earnings and their dividends. With this knowledge lie may be said to play tliey market with loaded dice. lie knows positively whéthei certain stocks will go up or down dürinjj the next few months; there is no gambltog about it for him. [ used to know a broker wlio often said that he would pay IMO.000 a day to see the qnotations of the stock exchange one minute ahead of any one else, that was all he required. Vanderbilt has this power; for he to a large degree, causes the fluctuations in prices by which he profits.


Old News
Ann Arbor Argus