Vanderbilt Family

51due网站精选范文：“Vanderbilt Family”。这篇论文主要讲述了Vanderbilt Family的发家史。Cornelius Vanderbilt是美国的轮船和铁路建设者的执行官、金融家和发起人。他是一个有无穷精力的人,他敏锐的商业意识使他战胜他的对手。Cornelius Vanderbilt出生与一个贫穷家庭，但并没有影响他的自我奋斗并赚取大量财富。

Vanderbilt Family Cornelius Vanderbilt (May 27, 1794-January 4, 1877) was an American steamship and railroad builder, executive, financier, and promoter. He was a man of boundless energy, and his acute business sense enabled him to outmaneuver his rivals. He left an estate of almost $100 million. Vanderbilt was born to a poor family and quit school at the age of 11 to work for his father who was engaged in boating. When he turned 16 he persuaded his mother to give him $100 loan for a boat to start his first business. He opened a transport and freight service between New York City and Staten Island for eighteen cents a trip. He repaid the loan after the first year with an additional $1,000. He was rough in manners and developed a reputation for honesty. He charged reasonable prices and worked prodigiously. The War of 1812 created new opportunities for expansion, and Vanderbilt received a government contract to supply the forts around New York. Large profits allowed him to build a schooner and two other vessels for coastal trade. Vanderbilt got his nickname "Commodore" being in command of the largest schooner on the Hudson River.

Nearing the age of 70, Vanderbilt decided once again that the wave of the future was in another direction -- building a railroad empire. He first acquired the New York and Harlem Railroad, in the process again defeating Daniel Drew. He next acquired the rundown Hudson River Railroad, which Cornelius wanted to consolidate with the Harlem. Again Drew attempted to sell the stock short, defeat the consolidation, and make a substantial profit. But, as before, the Commodore won the battle by buying every share Drew sold, thereby stabilizing the price. Vanderbilt acquired the Central Railroad in 1867, merged it with the Hudson River Railroad by legislative act, and leased the Harlem to the new company. He spent large sums of money improving the lines' efficiency and then increased the capital stock by $42 million (which was a stockwatering operation of magnitude) and paid large dividends. In the first five years, he is said to have cleared $25 million. Vanderbilt finally hit a snag in 1867 when he attempted to gain control of the Erie Railroad, then in the hands of his old adversary, Daniel Drew. Again Vanderbilt bought all the stock offered for sale, but this time Drew threw 100,000 shares of fraudulent stock certificates on the market, which Vanderbilt continued to buy. Drew and his cohorts fled to Jersey City to avoid prosecution and bribed the New Jersey legislature to legalize the stock issue. Vanderbilt, tottering on the brink of failure, lost millions on the coup but fought back. Although the illegal stock was finally authorized by the legislature, Vanderbilt lost between $1 -$2 million and forgot the Erie. Upon the insistence of Vanderbilt's son William, he extended his line to Chicago by acquiring the Lake Shore and Michigan Southern railroads, the Canadian Southern, and the Michigan Central thereby creating one of the greatest American systems of transportation. Vanderbilt's influence on national finance was stabilizing. When the panic of 1873 was at its worst, he announced that the New York Central was paying out millions of dividends as usual, and let contracts for the building of the Grand Central Terminal in New York City, with four tracks leading from it, giving employment to thousands of men. He saw to it, however, that the city paid half the cost of the viaduct and open-cut approaches to the station. By 1875, his New York Central Railroad controlled the lucrative route between New York and Chicago.

Vanderbilt was never known for philanthropic activities. His only unsolicited contributions were $50,000 for the Church of the Strangers in New York City and $1 million to Central University, which then became Vanderbilt University. Upon his death, he was the richest man in the United States. Cornelius Vanderbilt left the bulk of his fortune - $95 million - to his son William. A footnote to the Vanderbilt fortune: William Vanderbilt is remembered for his remark, "The public be damned," when asked by a reporter whether railroads should be run for the public benefit. -w

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