THE ASTOR FAMILY

Otago Daily Times, Issue 18768, 23 January 1923, Page 8

THE ASTOR FAMILY

A ROMANCE OF RICHES. (San Francisco Chronicle.) The history of the Aator family and its rise to a pinnacle of wealth that is almost <txggeriug for the every-day mortal to contemplate, is a rather prosaic romance of riches. There are a few picturesque details woven around the career ol JoJm Jacob Astor, the founder of the family fortune in his early struggles with adversity and his trafficking with the Indians in building up a fur trade that brought him the cash which he invested to such good purpose in reality in the district that is now the heart of the City of New York. Other than these details and a few spectacular performances by later members of the family, the story of the Astor millions is but one of an enormous fortune ruining into the hundreds of millions mainly through the growth of land values in a great metropolis. FOUNDER DRIVEN FROM HOME. John Jacob Aator, the founder of the fortune, was born in 1763, in a peasant's cottage in the small village of Waldorff, in the duchy of Baden, Germany. Young John Jacoii was driven from homo by tiie bitterness of a stepmother. He went to London, where ho remained until 1783, at the close of the Revolutionary war, when he came to Americt, settling in New York. He acted as the American agent of hia brother George, who had a large musical instrument factory in London, and took f'uis in exchange for his wares, and was so successful in Iris transactions that by 1800 he was worth a quarter of a million dollars. He went into the fur trade exclusively, and soon hud represantatives throughout the country and even at the most distant trading posts. The present city of Astoria, m Washington, was an outcome of his operations in the North-west, and was named after him. INVESTED IN NEW YORK REALTY. All the spare capital which he in fiiis and afterward m the Chinese and Eastern trade, v.as invested in New York realty, ' until he had large tracts upon which in his later years he erected row's of houses, thereby expanding the limits ot the city, and enhancing the value of lua lands. His motto was to buy land hut never to sell. When he died in 1848 his holdings were worth many millions. In 1785 Astor married Sarah Todd, a daughter of Revolutionary parents, and' by her had seven children. At his .death the great fortune was bequeathed to his third child, William B. ■ Asior, who was born in 1792. He was well equipped by Nature and education for the administration of the estate, and had early in life been taken into partnership in the firm, which now became J. J. Astor and Son. Within 20 years after his father’s death he had doubled the value of the estate and was the owner of 700 houses in New York City (later increased to more than 1000), He was constantly employed in building operations. At his death in 1875 the Astor fortune was shared equally by two of his sons, John Jacob Astor and William B. Astor. Both of these sons w'ere capable managers of the vast properties left them, and were patriotic supporters of the Union Government during the War of the Rebellion, both with money and service. RICHES FALL TO TWO SONS. John Jacob Astor HI, as one of these brothers was known, had one son, William Waidprf Astor, and the other brother became the father of John Jacob Astor IV, who at hia death became the head of the family. The Astor fortune, valued at more than 200,000,000 dollars, was eventually divided between these two brothers, the property inherited by William Waldorf Astor being his outright and under his personal control. With the division of the Aetor millions between these two brothers there also came another division, that of country, whereby came the American Aators and the English Astors, as tlic latter are now called. The story of this division was one that stirred two nations. WILLIAM WALDORF QUITS AMERICA, It was in 1801 that William Waldorf Astor packed his baggage, closed his New York residence, and left for London, with the announcement that he was through with America and that it was “no fit place for a gentleman to live in.” The cause of his antagonism to the country which his father had fought to preserve in ’62 was the failure to win in certain political aspirations, and, «3 ho said, the vulgar freedom with which the American press had commented on him. His political career began with being elected to the New Y'ork Legislature. Then he ran for Congress. In consideration of his generous ‘ contributions to the party, he was nominated for a safe district, as was thought. To his disgust, he was defeated. The party tried to console him with a term as Minister to Italy, but he cam© back disgruntled, and resented the fun which was poked at him through the preiii because of his social ' pretensions. Then there was rivalry between hia wife and Mrs William Astor as to who was "the Mrs Astor’’ in high society circles I That was the last straw, and atter putting hia financial affairs in order he removed to London permanently in 1891. RENTS HOME IN LONDON. He rented the handsome Lansdowne House in London and afterwards purchased Clcvedon House on the Thames, a. beautiful house and estate, from the Duke’of Westminster. He then plunged into a career of social conquest. He also purchased Hevct Castle, near Sevenoaks, said to be Comost perfect specimen of medieval dwelling iu England. • , • T , . a Another of his acta on arrival in England was to renounce his American citizens no and become a British subject. He purchased the Pall Mall Gazette, buying it from William T. Stead for 1,009,000 dollars, and other journals. Under the editors ho placed in charge it rapidly declined. He made it a high Tory organ, placing an earl's sou as editor. He also purcousej the flag of the U.S. frigate Chesapeake of 1812 war fame at an auction in London for 4250 dollars and presented it to the British Museum. His act was considered un insult to the United States. SPENT MONEY LAVISHLY’. As an entertainer he spent money lavishly He especially tried to win the favour of the Prince of Wales, afterwards King Edward VII. but did not meet with the expected success. Becoming an English subject in 1899, it was not until 1916 that he attained his consuming ambition to become a member of the peerage In that year lie became Baron Astor of Hevor Castle. , At the time a London paper came out with an announcement that the peerage bad cost Astor 11,750,000 dollars, and it published a list of his purchases of Tory jk>\\ spapcis, contributions to Tory cam* paierjj funds, contributions to hospitals and war relief funds, entertaining King George and Queen Mary, and entertainments which made up the total. SONS TYPICAL BRITONS. Viscount Aster’s two sons are said to bo tvpicnl Britons in every way. "Major Waldorf Astor, the eldest son. is now Viscount Astor, his father having died in October, 1919 He educated at Oxford, and married Mrs Nannie Langhorna Shaw, one of the famously beautiful Langhorue' sisters of Virginia. She is a brilliant woman, proud of her American birth, yet active in the public affairs of her husband's country. She is at present a member of Parliament from the borough of Plymouth, and lately was a visitor to this The second son, John Jacob Astor, ivho ha» just announced his intention, according to news despatches, of transferring his wealth from America to England, became an officer in the Life Guards, the premier regimonl of the British Army. He served through the World War and holds the ran.c of Major. Ho lost a part of one leg in batfle. In August, 1916, he was married to Lady Nairne-M'into, daughter of the fourth Earl of Minto. .... The present head of the Astor family in New Yorj is Vincent Astor, son of John Jacob Astor IV. The father of Vincent Astor lost his life in tho Atlantic Ocean when the ateajnei Titanic was sunk m

1912. end was among those passengers who heroically sacrificed their lives in order that the women and children of the illfated steamer might be placed in the lifeboats. Vincent Astor inherited 70,009,009 dollars, nearly all in New York realty. The fortune, which was left by Viscount Aslov to Ins two sons, gave them worth of realty, much of it in New Y'ork City.