"[5], Cornelius Vanderbilt's great-great-great-grandfather, Jan Aertson or Aertszoon ("Aert's son"), was a Dutch farmer from the village of De Bilt in Utrecht, Netherlands, who emigrated to New Amsterdam (later New York) as an indentured servant in 1650. After these acquisitions, Vanderbilt spent large sums of money improving the lines' efficiency and then watered the stock and paid large dividends. More, Housed in the New York State Library, the NNRC offers students, educators, scholars and researchers a vast collection of early documents and reference works on America's Dutch era. In a famous incident, he told them After landing in Nicaragua, the travelers would cross to the Pacific and continue their sea journey. Encyclopedia of World Biography. GERTRUDE VANDERBILT WHITNEY [1875-1942] GRANDDAUGHTER OF WILLIAM HENRY VANDERBILT. Encyclopedia of World Biography, 2nd ed., vol. Vanderbilt then acquired the Central Railroad (1867), merged it with the Hudson River Railroad, and leased the Harlem to the new company.

Vanderbilt, whose son William H. Vanderbilt was now working with him, eventually came to control much of the railroad business in the United States. After working with his father's business, Vanderbilt worked his way into leadership positions in the inland water trade and invested in the rapidly growing railroad industry. He died on Jan. 4, 1877. She was a daughter of Cornelius Vanderbilt II [1843-1899]. In the end, he could not attract enough investment to build the canal, but he did start a steamship line to Nicaragua, and founded the Accessory Transit Company to carry passengers across Nicaragua by steamboat on the lake and river, with a 12-mile (19-kilometer) carriage road between the Pacific port of San Juan del Sur and Virgin Bay on Lake Nicaragua.[16]:174–205. A common nickname for important steamboat entrepreneurs, by the end of the 1840s it was applied only to Vanderbilt. It helped bottle up the Virginia, after which Vanderbilt converted it into a cruiser to hunt for the Confederate commerce raider Alabama, captained by Raphael Semmes. In 1831, he took over his brother Jacob's line to Peekskill, New York, on the lower Hudson River. He remarked that suing them in court would take too long, so he would simply ruin them. While he was away, White conspired with Charles Morgan, Vanderbilt's erstwhile ally, to betray him, and deny him money he was owed by the Accessory Transit Company. He sold controlling interests to the Nicaragua Transit Company, which failed to pay him.
The depot was replaced by Grand Central Terminal in 1913. Cornelius Vanderbilt (May 27, 1794 – January 4, 1877) was an American business magnate who built his wealth in railroads and shipping. The immediate cause of his death was exhaustion, brought on by long suffering from a complication of chronic disorders. In the 1840s, he launched a campaign to take over the most attractive of these lines, the New York, Providence and Boston Railroad, popularly known as the Stonington. In the 1990’s there was a family reunion of the Vanderbilt descendants and close to 200 people showed up. The case is still considered a landmark ruling. At the time of his death in 1877, Cornelius Vanderbilt had amassed the largest private fortune in the whole of the United States. The Civil War broke his heart, but made his second fortune. He charged reasonable prices and worked prodigiously. His father was Wyatt Cooper. Yes, I'd like to receive Word of the Day emails from YourDictionary.com. He left the bulk of his estate to his son William Henry Vanderbilt, because he was the only child who had been actively involved in the business that produced the Vanderbilt fortune. His father captained a boat ferrying passengers between Staten Island and Manhattan. He eventually merged all his initial acquisitions into what became known as the New York Central Railroad. The eventual main heir to his empire, his son William Henry Vanderbilt, influenced his father to expand rail service into the direction of Chicago. Edmund Randolph, a close friend of Walker, coerced the Accessory Transit's San Francisco agent, Cornelius K. Garrison, into opposing Vanderbilt. Using a conversion ratio of 260, based on the gross domestic product per capita then and now, the one million dollars was essentially equal to $260 million in today's terms. [19]:262–64 Vanderbilt used the leverage of a lawsuit to recover his losses, but he and Gould became public enemies.[20]. CORNELIUS VANDERBILT III (1873-1942) WAS ONE OF WILLIAM HENRY VANDERBILT’S GRANDSONS.

The Court never heard Vanderbilt's case, because on March 2, 1824, it ruled in Gibbons' favor, saying that states had no power to interfere with interstate commerce. Before he took position in the railroad industry, he earned an important position in the inland water trade. Step by step, he started lines between New York and the surrounding region. Vanderbilt’s wife managed the hotel. Cornelius Vanderbilt died on January 4, 1877, at his residence, № 10 Washington Place, after having been confined to his rooms for about eight months. He gave Mary and Ethelinda the same settlement. William's eldest son, Cornelius Vanderbilt II, received $5 million in the will, while his three younger sons—William Kissam Vanderbilt, Frederick William Vanderbilt, and George Washington Vanderbilt II—received $2 million apiece. [2] At the time of his death, aged 82, Vanderbilt had an estimated worth of $105 million. By continuing, you agree to our To his younger surviving son, Cornelius Jeremiah Vanderbilt, whom he regarded as a wastrel, he left the income from a $200,000 trust fund.
He agreed and Vanderbilt University was founded in Nashville. Vanderbilt appealed his own case against the monopoly to the Supreme Court, which was next on the docket after Gibbons v. Ogden. An obituary published by the New York Tribune on January 6, 1877 told the story of how Vanderbilt’s mother offered to loan him $100 to buy his own boat if he would clear a very rocky field so it could be farmed.

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