CORNELIUS VANDERBILT AND VANDERBILT UNIVERSITY.
Cornelius Vanderbilt, born May 27, 1794, descended from a Dutch farmer, Jan Aertsen Van der Bilt, who settled in Brooklyn, N.Y., about 1650, began his career in assisting his father to convey his produce to market in a sail-boat. The boy did not care for education, but was active in pursuit of business. At sixteen he purchased for one hundred dollars a boat, in which he ferried passengers and goods between New York City and Staten Island, where his father lived. He saved carefully until he had paid for it. At eighteen he was the owner of two boats, and captain of a third.
At nineteen he married a cousin, Sophia Johnson, who by her saving and her energy helped him to accumulate his fortune. At twenty-three he was worth $9,000, and was the captain of a steamboat at a salary of $1,000 a year. The boat made trips between New York City and New Brunswick, N.J., where his wife managed a small hotel.
CORNELIUS VANDERBILT.
In 1829, when he was thirty-five, he began to build steamboats, and operated them on the Hudson River, on Long Island Sound, and on the route to Boston. When he was forty his property was estimated at $500,000. When the gold-seekers rushed to California, in 1848-1849, Mr. Vanderbilt established a line by way of Lake Nicaragua, and made large profits. He also established a line between New York and Havre.
During the Civil War Mr. Vanderbilt gave the Vanderbilt, his finest steamship, costing $800,000, to the government, and sent her to the James River to assist when the Merrimac attacked the national vessels at Hampton Roads. Congress voted him a gold medal for his timely gift.
In 1863 he began to invest in railroads, purchasing a large part of the stock of the New York and Harlem Railroad. His property was at this time estimated at $40,000,000. He soon gained controlling interest in other roads. His chief maxim was, "Do your business well, and don't tell anybody what you are going to do until you have done it."
In February, 1873, Bishop McTyeire of Nashville, Tenn., was visiting with the family of Mr. Vanderbilt in New York City. The first wife was dead, and Mr. Vanderbilt had married a second time. Both men had married cousins in the city of Mobile, who were very intimate in their girlhood, and this brought the bishop and Mr. Vanderbilt into friendly relations. One evening when they were conversing about the effects of the Civil War upon the Southern States, Commodore Vanderbilt, as he was usually called, expressed a desire to do something for the South, and asked the bishop what he would suggest.