The Cosmopolitan Volume 45, Nos. 1-6

The Cosmopolitan Volume 45, Nos. 1-6

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...but at these meetings there is hardly ever an attendant except the officials of the system, equipped with proxies, who carry out the program of the family. For years one old man from Malane who holds ten shares of stock has attended the meetings, but he is regarded humorously by the railroad people. There you have the control. ers." For instance, t h e family owns all the stock of the New York and Harlem road. This road, with its ten' millions of stock and twelve millions of b o.n d s, is leased for four hundred years to the New York Central. Is it leased on a basis favorable to the stockholders THE OLD HOME OF WILLIAM H. VANDERB1LT ON STATEN ISLAND Owning but a small percentage of stock the Yanderbilt family does own what is known in the railroad world as "the nvlk NEW YORK HOME OF THE LATE CORNELUS VANDERBILT, FIFTH AVENUE, FIFTY-SEVENTH AND FIFTY-EIGHTH STREETS THE BREAKERS--THE NEWPORT HOME OF THE LATE CORNELIUS VANDERHILT bridges and net a handsome return. The fast-freight lines with advantageous rates, the great construction companies with fat contracts, the first-mortgage bonds, the construction bonds and like cream will he found in the hands of the Vanderbilts. They own the secured liens on the property and leave the stock to the public, as the stock gets its dividend last. When the late Cornelius Vanderbilt died an inventory of his estate showed that he owned less than two million dollars of stock of the New York Central, of which he was the executive head, or about two per cent, of its capitalization at that time. The inventory did show, however, that heowned nearly twenty millions of gilt-edged bonds of the system. What is true of his estate is probably true of all the Vanderbilt family. The members do not care more

Product details

  • Paperback | 388 pages
  • 189 x 246 x 20mm | 689g
  • United States
  • English
  • black & white illustrations
  • 1236909208
  • 9781236909206