After the War of 1812, Vanderbilt … That same year, the American military adventurer, William Walker, led an expedition to Nicaragua and briefly took control of the government. A "spirit," during this session, came in the form of William's deceased mother, Sophia. In each case, the strife ended in a battle that Vanderbilt won. Secretary of the Navy Gideon Welles refused it, thinking its operation and maintenance too expensive for what he expected to be a short war. Railroad Rivals - Cornelius Vanderbilt on the left, James Frisk, Jr., on the right. In 1853 Erastus Corning consolidated 10 railroads stretching from Albany to Buffalo as the New York Central Railroad, headquartered in Albany until Cornelius Vanderbilt took over in 1867 and moved the company to New … He sank the tracks on 4th Avenue in a cut that later became a tunnel, and 4th Avenue became Park Avenue. Though both Livingston and Fulton had died by the time Vanderbilt started working for Gibbons, the monopoly was held by Livingston's heirs. But he proved himself a good businessman, and eventually became the head of the Staten Island Railway. Cornelius Vanderbilt died on January 4, 1877, at his residence, № 10 Washington Place, after having been confined to his rooms for about eight months. [2] He began working on his father's ferry in New York Harbor as a boy, quitting school at the age of 11. [16]:387–90, Once in charge of the Harlem, Vanderbilt encountered conflicts with connecting lines. Vanderbilt eventually drove the Collins Line into extinction. On August 21, 1869, in London, Ontario,[21] he married a cousin from Mobile, Alabama, with the name — unusual for a woman — of Frank Armstrong Crawford.[22]. He moved with his family to New Brunswick, New Jersey, a stop on Gibbons' line between New York and Philadelphia. Erie Railroad-Wikipedia. In 1852, a dispute with Joseph L. White, a partner in the Accessory Transit Company, led to a business battle in which Vanderbilt forced the company to buy his ships for an inflated price. [18] Vanderbilt also paid to outfit a major expedition to New Orleans. Though the Commodore had once scorned Billy, he was impressed by his son's success. [16]:99–104, During the 1830s, textile mills were built in large numbers in New England as the United States developed its manufacturing base. He based this business and all of his other … 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. By contrast, Vanderbilt befriended his other foes after their fights ended, including Drew and Cornelius Garrison. By the end of the decade, Vanderbilt dominated the steamboat business on the Sound, and began to take over management of the connecting railroads. Vanderbilt's second wife convinced him to give $1 million, the largest charitable gift in American history to that date, to Bishop Holland Nimmons McTyeire, the husband of her cousin, Amelia Townsend, to found Vanderbilt University in Nashville, Tennessee, named in his honor. [9] However, according to the first account of his life, published in 1853, the periauger belonged to his father and the younger Vanderbilt received half the profit. https://www.thefamouspeople.com/profiles/cornelius-vanderbilt-6613.php Edmund Randolph, a close friend of Walker, coerced the Accessory Transit's San Francisco agent, Cornelius K. Garrison, into opposing Vanderbilt. His parents owned a small farm, and his father also worked as a boatman. It was the first of the many railroads he would head. He embraced new technologies and new forms of business organization, and used them to compete....He helped to create the corporate economy that would define the United States into the 21st century. [16]:124–27, When the California gold rush began in 1849, Vanderbilt switched from regional steamboat lines to ocean-going steamships. [28], A statue of Cornelius Vanderbilt is located on the south side of Grand Central Terminal, facing the Park Avenue road viaduct to the south. 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. A common nickname for important steamboat entrepreneurs, by the end of the 1840s it was applied only to Vanderbilt. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. 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. They had 13 children together: Phebe in 1814, Ethelinda in 1817, Eliza in 1819, William in 1821, Emily in 1823, Sophia in 1825, Maria in 1827, Frances in 1828, Cornelius Jeremiah in 1830, George in 1832 (who died in 1836), Mary, in 1834, Catherine in 1836, and another son named George in 1839. 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. In 1831, he took over his brother Jacob's line to Peekskill, New York, on the lower Hudson River.
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