[11][12] Along with other members of the Vanderbilt family, he helped erect a local Moravian parish church in his city.[13]. The Chicago Transit Authority (CTA) operates the nation’s second largest public transportation system. 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. Nicknamed "The Commodore", he is known for owning the New York Central Railroad. In 1992, he made a … The 1860s also witnessed a prolonged battle for control of the company; in the so-called "Erie War" of 1867, sparked by Cornelius Vanderbilt of the New York Central, the Commodore fought with Daniel Drew, Jay Gould, and Jim Fisk for stakes in the railroad. He also went to Washington, D.C., to hire Daniel Webster to argue the case before the Supreme Court. [16]:391–442, In 1868, Vanderbilt fell into a dispute with Daniel Drew, who had become treasurer of the Erie Railway. In each case, the strife ended in a battle that Vanderbilt won. In 1864, the Commodore sold his last ships, in order to concentrate on the railroads. For other people named Cornelius Vanderbilt, see, New York Central and Hudson River Railroad, harvnb error: no target: CITEREFRobinsNew_York_Transit_Museum2013 (, ferry between Staten Island and Manhattan, History of Grand Central Terminal § Grand Central Depot, Dunkirk, Allegheny Valley and Pittsburgh Railroad, Cleveland, Cincinnati, Chicago and St. Louis Railway, "Cornelius Vanderbilt. Vanderbilt had little choice but to lease it to the War Department, at prices set by ship brokers. But he proved himself a good businessman, and eventually became the head of the Staten Island Railway. [16]:341–64, Though Vanderbilt had relinquished his presidency of the Stonington Railroad during the California gold rush, he took an interest in several railroads during the 1850s, serving on the boards of directors of the Erie Railway, the Central Railroad of New Jersey, the Hartford and New Haven, and the New York and Harlem (popularly known as the Harlem). Cornelius Vanderbilt, byname Commodore Vanderbilt, (born May 27, 1794, Port Richmond, Staten Island, New York, U.S.—died January 4, 1877, New York, New York), American shipping and railroad magnate who acquired a personal fortune of more than $100 million.. On December 19, 1813, at age 19 Vanderbilt married his first cousin, Sophia Johnson, daughter of Nathaniel Johnson and Elizabeth Hand. It helped bottle up the Virginia, after which Vanderbilt converted it into a cruiser to hunt for the Confederate commerce raider Alabama, captained by Raphael Semmes. He had accumulated the largest fortune in the U.S. at the time of his death, in 1877. [25][note 1] Another calculation, from 1998, puts him in third place, after Andrew Carnegie. The immediate cause of his death was exhaustion, brought on by long suffering from a complication of chronic disorders. In 1863, Vanderbilt took control of the Harlem in a famous stockmarket corner, and was elected its president. chicago to new york. [16]:124–27, When the California gold rush began in 1849, Vanderbilt switched from regional steamboat lines to ocean-going steamships. [16]:365–386, Vanderbilt brought his eldest son, Billy, in as vice-president of the Harlem. On an average weekday, 1.6 million rides are taken on CTA. According to historian H. Roger Grant: "Contemporaries, too, often hated or feared Vanderbilt or at least considered him an unmannered brute. Members of the Vanderbilt family were permitted to use the third floor of the mansion as their own residence up until January 2018. Source There are … The CTA is a regional transit system that serves 35 suburbs, in addition to the City of Chicago, and provides 81 percent of the public transit trips in the six-county Chicago metropolitan area either with direct service or connecting service to Metra and Pace. After these acquisitions, Vanderbilt spent large sums of money improving the lines' efficiency and then watered the stock and paid large dividends. He then turned to transatlantic steamship lines, running in opposition to the heavily subsidized Collins Line, headed by Edward K. Collins. From Manhattan it ran up to Chatham Four Corners, New York, where it had a connection to the railroads running east and west. They moved into a boarding house on Broad Street in Manhattan. Through Billy's daughter Emily Thorn Vanderbilt, another descendant is actor Timothy Olyphant.[9]. We also provide many services, including 480v standby power, water, ice, septic, car wash, parking, and switching. Like his late mentor Thomas Gibbons, he often acted out of a sense of self-righteous outrage, but always in ways that suited his material interests. As a boy, he worked with his father, who operated a boat that ferried cargo between Staten Island, New York, where they lived, and Manhattan. But on November 24, 1817, a ferry entrepreneur named Thomas Gibbons asked Vanderbilt to captain his steamboat between New Jersey and New York. [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. Many of the migrants to California, and almost all of the gold returning to the East Coast, went by steamship to Panama, where mule trains and canoes provided transportation across the isthmus. [7] Editor’s note: Gloria Vanderbilt died on June 17, 2019, at the age of 95. The Renowned Commodore Dies After Eight Months' Illness His Remarkable Career As A Man Of The World His Wealth Estimated At $100,000,000 Particulars Of His Illness And Death", "The Episcopalians: An American Elite With Roots Going Back To Jamestown", "The American Heritage 40; A ranking of the forty wealthiest Americans of all time (Surprise: Only three of them are alive today)", "Grand Central Terminal to Have Vanderbilt Statue", "Railroad History Story: Jackson's Evolution as a Rail Center", The First Tycoon: The Epic Life of Cornelius Vanderbilt, Appletons' Cyclopædia of American Biography, Steerage Passage Contract - Le Havre to New York on the clipper ship "Admiral" of the Vanderbilt European Steamship Line 1854, https://en.wikipedia.org/w/index.php?title=Cornelius_Vanderbilt&oldid=996588159, 19th-century American railroad executives, Short description is different from Wikidata, Wikipedia indefinitely semi-protected pages, All Wikipedia articles written in American English, Infobox person using certain parameters when dead, Wikipedia articles with PLWABN identifiers, Wikipedia articles with SNAC-ID identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with Trove identifiers, Wikipedia articles with WORLDCATID identifiers, Srpskohrvatski / српскохрватски, Creative Commons Attribution-ShareAlike License, This page was last edited on 27 December 2020, at 14:27. "[4], As one of the richest Americans in history and wealthiest figures overall, Vanderbilt was the patriarch of the wealthy and influential Vanderbilt family. Cornelius Vanderbilt (May 27, 1794 – January 4, 1877) was an American business magnate who built his wealth in railroads and shipping. He suffered a grievous loss when George Washington Vanderbilt II, his youngest and favorite son, and heir apparent, a graduate of the United States Military Academy, fell ill and died without ever seeing combat. 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. Rail transportation in the United States consists primarily of freight shipments, with a well integrated network of standard gauge private freight railroads extending into Canada and Mexico. This left his only other living son, Cornelius Jeremiah Vanderbilt, and 9 daughters (Phebe Jane, Ethelinda, Eliza, Emily Almira, Sophia Johnson, Maria Louisa, Frances Lavinia, Mary Alicia, and Catherine Juliette), to receive comparatively little inheritance; far less than even their young nephews. [16]:217–264, In November 1855, Vanderbilt began to buy control of Accessory Transit once again. what route was the most valuable rail line in the world at this time? 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]. ( 1794-1877 ) was a self-made multi-millionaire who became one of the century! Dorp on Staten Island and Manhattan 's fastest growing city at this time he succeeded donating! Once again and was elected its president for important steamboat entrepreneurs, by the Central Pacific Frankenstein! 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