August Belmont.
August Belmont, builder of the New York City subway, began his career with the handicap of great wealth. His father, August Belmont, senior, was one of the richest and best known American bankers. His son August was graduated from Harvard University in 1875, and for a time gave himself up in large measure to the usual occupations of the youth of fortune. But as he grew older he interested himself more and more in the great banking business established by his father. In the course of a few years he became, on his own account, a power in the financial world. He is now an officer or director in many banking, railway, manufacturing and other corporations. In addition to these he has been a strong supporter of the best art, literary, patriotic and other American activities, being a member of numerous associations devoted to such movements. He has taken an active part in politics, and is much interested in the breeding of thoroughbred race-horses. His most conspicuous activity, however, has been the building of the subway, which has added so greatly to the transportation facilities of the metropolis.