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Dromo's Den
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[Up] [Dromo's Den] William Henry Vanderbilt Biography William Henry Vanderbilt Image VANDERBILT,
William Henry (1821-85). An American capitalist and financier, the son of
"Commodore" Cornelius Vanderbilt (q.v.), born in New Brunswick, N. J.
He was educated at the Columbia College Grammar School, and at the age of 18
became a banking clerk in New York City. A few years later failing health
compelled him to retire to a farm on Staten Island. He was appointed receiver of
the Staten Island Railroad, which had fallen into difficulties, and in two years
cleared it from debt, connected it with New York by a new ferry line, and as a
result was chosen its president. Thenceforth his father made him a partner in
all his large railroad and financial transactions, and manager of the various
railroad interests he acquired. The son became vice president of the New York
and Harlem Railroad in 1864, and in the next year vice president of the New York
Central and Hudson River lines. At his father's death in 1877 he succeeded him
as president of the latter road, and under his able and skillful management the
control was completed
of the Michigan Central, Lake Shore and Michigan Southern, Canada Southern, and
Chicago and Northwestern systems. Subsequently the Nickel Plate and West Shore
roads were acquired. He gave largely during his lifetime to Vanderbilt
University, the College of Physicians and Surgeons, (Columbia University), and
other educational and philanthropic institutions. His
sons, William Kissam, Frederick William, and George Washington Vanderbilt
(q.v.), succeeded to their father's large railroad and other financial
interests. The brothers built the Vanderbilt Clinic in New York. William K.
Vanderbilt was a founder and president of the New Theatre. His first wife after
her divorce married O. H. P. Belmont and gained prominence as a leader in woman
suffrage, and his second wife became known for her many charities and her
personal interest in social-welfare movements. In 1915 she was awarded the
French Foreign Office gold medal for work on behalf of the American Ambulance
Corps in the European War. The New International Encyclopaedia, Vol. XXIII (New York: Dodd, Mead & Co., 1920) 15. |