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The Vanderbilt promptness in arriving at a decision was immediately shown. He called upon Mr. Pierpont Morgan, and through him a syndicate, which Morgan formed, took and sold the greater part of Mr. Vanderbilt's New York Central stock. The result was that the New York Central from that time was owned by the public.
Presently, overwhelmed by the crushing financial and political weapons with which they fought him, Vanderbilt found himself compelled to compromise by disposing of the line to them. Vanderbilt's methods and his duplicity in the disposition of this project were strikingly revealed in the court proceedings instituted by the State of Pennsylvania.
As in the larger sense all criticism of conditions was systematically smothered, so were details of the methods of the rich carefully obscured or altogether passed by in silence. At Vanderbilt's death the newspapers laved in gorgeous descriptions of his mansion.
This was all virtually plunder; the returns from the "postages" far more than paid them for the transportation of mails. And what became of these millions in loot? Part went in profits to the owners, and another part was used as private capital by them to build more and newer ships constantly. Practically none of Vanderbilt's ships cost him a cent; the Government funds paid for their building.
Nor is it necessary to deal with the numerous bills he considered adverse to his interests, that he caused to be smothered in legislative committees by bribery. Great sums of money were distributed outright in bribes in the legislatures by lobbyists in Vanderbilt's pay. Supplementing this, an even more insidious system of bribery was carried on.
Commodore Vanderbilt's early passion for horses still survives, and his stable contains some of the finest in the world. Nothing pleases him so well as to sit behind a fast team, with the reins in his hands, and fly along the road with almost the speed of the wind. He is extremely generous to his friends, and gives liberally to charitable objects.
Vanderbilt and George Law were now frantically competing for this franchise. But the aldermen were by no means unschooled in the current sharp practices of commercialism. A strong cabal of them hatched up a scheme by which they would take Vanderbilt's bribe money, and then ambush him for still greater spoils.
Their methods in Pennsylvania and other States were exactly the same as Vanderbilt's in New York State; their political power was as great in their chosen province as his in New York. His incursion into the territory they had apportioned to themselves for exploitation was not only resented but was fiercely resisted.
On the following day there was a decided fall in American Securities in London, and a weak market in Wall Street; which degenerated into a rapidly declining one when it became rumored that Gould was selling Western Union short in large blocks, and that Vanderbilt's brokers were similarly disposing of N.Y. Central and other stocks.
W. K. Vanderbilt, Jr., spent the day telephoning to her friends, asking them to let their automobiles be used to meet the Carpathia and take away those who needed surgical care. It was announced that as a result of Mrs. Vanderbilt's efforts 100 limousine automobiles and all the Fifth Avenue and Riverside Drive automobile buses would be at the Cunard pier.
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