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Sign up freeThe Indianapolis Journal
Indianapolis, Marion County, Indiana
What is this article about?
New York News article on how wealthy American men spend surplus money, revealing character through hobbies like collecting curios (Grant), books (Hill), cattle (Morton), dogs and horses (Gebhard, Bonner), estates (Cleveland, Vanderbilt), art (Huntington), instruments (Rockefeller), stamps (Gould), and education (Sage).
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GRANT LOVED CURIOS AND GEORGE GOULD POSTAGE STAMPS.
Hill Yearns for Old Books, Morton for Cattle and Vanderbilt Runs to Costly Residences.
New York News.
General Grant once said that the character of a rich man could be determined by the way he spends his surplus money. The General himself spent his in curios, and at the time of his death had more curiosities and bric-a-brac, gathered from all the countries of the world, than any other living American. Alexander Hamilton, in his day, may have had more, as his hobby, too, ran in this way. But Grant led in the last generation.
Senator Hill has a fondness for old books. He cares nothing for ladies' society, and very little for fine horses or grand turn- outs. But he loves old books. It is said that Howgate, the Washington defaulter, who for years carried on a book business in New York city, under a well-preserved alias, made a fortune annually putting books in the way of the Senator.
Levi P. Morton, when asked his favorite way of spending the money he has accumulated by long toil, said: Why, I like to buy choice cattle. Of course, my gilt- edged stock on the hills of Ellerslie now yield me a fine income. I will not deny this fact. But I will say that when I first began to buy the big, calm-eyed bovines I had no idea they would bring me money. I bought them because I love to see their graceful, brown-red bodies upon my meadows, and because I enjoy the rich milk and butter and the pleasure of having a fresh, good piece of beef-just as I enjoy a fresh chicken. I can say that nothing gives me the joy that comes of buying a new lot of pure bloods."
For years Frederick Gebhard has spent his money upon fine, pure-bred bulldogs. He gave his sister, Mrs. Neilson, a bull pup, which is the most admired of any of his species in New York. Gebhard has at his Lenox farm a fine assortment of dogs of the bull breed. He gave several to his fiancee. Miss Morris. and last summer had some beautifully ugly ones at Long Branch. Besides this fad, Gebhard buys fine trotters.
BONNER RUNS TO HORSES.
"With the first spare money I got," said Robert Bonner, "I bought a horse. A physician told me I would have nervous prostration if I did not drive in the country every afternoon, so I bought a horse, and my greatest ambition was to speed past Commodore Vanderbilt every afternoon. By and by I bought Maud S. of the Commodore, and since then I have devoted all my money to the improvement of trotters in this country. I do not trot for money. but I think the sport the worthiest one to be found anywhere. and I am not sure but that a rich man who maintains a stable of horses gives employment to as many as a man who opens a wood yard for the poor."
President Cleveland spends all his surplus upon the Gray Gables estate. During Secretary Bayard's recent visit there the President and Mr. Bayard spent all one afternoon and part of the next day driving over the place. Several hundred additional acres have been added to the first property, and the President, since he put on the addition last winter. has started a water- fall with a windmill and has made several artificial lakes on the place. There is a rockery for roses in course of construction. It is interesting to note that improving a country place is President Cleveland's idea of expenditure of spare money.
C. P. Huntington amused himself for a while decorating at great expense the mansion at the corner of Fifty-seventh street and Fifth avenue. He employed splendid artists, among them Elihu Vedder and Will Low. to paint pictures in the dining hall and drawing-room. It was as if he wanted to see the frescoes always before him. He spent a fortune that way.
Cornelius Vanderbilt's favorite way of spending money-and he has a deal of it to spend-is in the collection of handsome houses. Mr. Vanderbilt maintains all the time a fine London residence and a "hotel" in Paris. He also has a handsome house at Newport-one that he has lately built- and also the magnificent palace on Fifth avenue and Fifty-seventh street, cat-a- cornered from the Huntington house. Once in his office at the Grand Central Station Mr. Vanderbilt said to a friend: "I am never so happy as when planning a new home for my family. and if I were a poor man I should try to earn money just for the pleasure of spending it in this way."
A CHICAGO MAN'S FAD.
Hobart Chatfield-Taylor. Chicago's millionaire novelist, once said that he would be willing to publish a book of his own writing every year if only for the pleasure of writing the book and seeing his name and personal ideas in print.
John D. Rockefeller's pet extravagance is the buying of musical instruments. He has five pianos in his town house. 4 West Forty-fourth street, and he buys rare violins when and where he can find them. He also invests in banjos, flutes and musical instruments of all kinds. He probably has in his home in the city $20,000 worth of modern playable instruments, besides twice as much in antiques.
People usually suppose that George Gould's only fad out of Wall street is yachting. And there is no doubt but that he spends a deal of money. possibly $300,000 this year. in that way. But Mr. Gould has another way of using his money for pastime. and that is in the collection of postage stamps. He has been doing it for years, and just what his collection has cost him none but stamp dealers who know the prices of old and rare stamps can tell. There is a story told that last year one of the Rockefellers had his eye upon a certain old stamp in the hands of an antiquarian. But George Gould heard of it and got it.
Russell Sage enjoys keeping his money. or rather investing it again and again. He is a childless man and takes pleasure in handling his funds. When Mr. Sage spends money he puts it upon the Emma Willard memorial. The Emma Willard Seminary was where Mrs. Sage went to school, and when during the last year Mr. Sage gave $100,000 for a memorial building, with a dormitory dedicated to Mrs. Sage. it was discovered that his interests outside of his business was educational. Mrs. Sage has frequently said that she did not think it was wise to spend a fortune upon paintings, nor upon anything else so perishable. The Sage fortune will presumably go to educational institutions.
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General Grant collected curios and bric-a-brac from around the world. Senator Hill collected old books. Levi P. Morton bought choice cattle for pleasure. Frederick Gebhard collected fine bulldogs and trotters. Robert Bonner improved trotters like Maud S. President Cleveland expanded and improved his Gray Gables estate. C. P. Huntington decorated his mansion with frescoes by artists. Cornelius Vanderbilt built and maintained luxurious residences in London, Paris, Newport, and New York. Hobart Chatfield-Taylor enjoyed publishing his novels. John D. Rockefeller collected musical instruments including pianos and violins. George Gould collected postage stamps and yachts. Russell Sage invested in funds and supported educational memorials like Emma Willard.