William Henry Vanderbilt
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| William Henry Vanderbilt | |
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| Born | May 8, 1821 New Brunswick, New Jersey |
| Died | December 8, 1885 |
- This article is about the railroad magnate. For his grandson, the governor of Rhode Island, see William Henry Vanderbilt III.
William H. Vanderbilt (May 8, 1821 – December 8, 1885) was a businessman and a member of the prominent United States Vanderbilt family.
William Henry Vanderbilt was born in New Brunswick, New Jersey. He inherited nearly $100 million from his father Cornelius Vanderbilt and had increased it to almost $200 million at his death less than nine years later. At the time, he declared himself the richest man in the world. In 1841 he married Maria Louisa (Louise) Kissam (1821–1896), the daughter of a Presbyterian minister. When interviewed by reporters he said "The railroads are not run for the benefit of the dear public. That cry is all nonsense. They are built for men who invest their money and expect to get a fair percentage on the same."
His father carefully oversaw his business training, at age 18 starting him out as a clerk in a New York banking house. After joining the executive of the Staten Island railway, he was made its president in 1862 then three years later he was appointed vice-president of the Hudson River railway. In 1869, he was made vice-president of the New York Central and Hudson River Railroad Company, becoming its president in 1877. As well, he took over from his father as president of New York Central Railroad, the Lake Shore and Michigan Southern Railway, the Canada Southern Railway, and the Michigan Central Railroad.
He had worked with his father and following his death, actively expanded the family's railroad empire. In 1883, his elder sons assumed key positions. It was in his time that the Vanderbilt women demanded social recognition from the older but less moneyed women of New York City society, centered on the Astor family, whom the Vanderbilts had by then far outstripped in wealth.
William Henry Vanderbilt was involved in a number of philanthropic causes including the YMCA, funding to help establish the Metropolitan Opera and an endowment for the College of Physicians and Surgeons at Columbia University. In 1880, he provided the money for Vanderbilt University in Nashville, Tennessee to construct the Wesley Hall building for use as the Biblical Department and library and included 160 dormitory rooms for students and professors, lecture halls, as well as a cafeteria. The building was destroyed by fire in 1932 and his son Frederick made another donation to help cover the insurance shortfall and allow a new building to be constructed.
An art enthusiast, William Henry Vanderbilt's collection included some of the most valuable works of the Old Masters and over his lifetime, Vanderbilt acquired more than 200 paintings.
Among his holdings were:
- Chicago, Burlington and Quincy Railroad
- Chicago and Canada Southern Railway
- Detroit and Bay City Railroad
- Hudson River Railroad
- Hudson River Bridge
- Joliet and Northern Indiana Railroad
- Michigan Midland and Canada Railroad
- New York Central and Hudson River Railroad
- New York Central Sleeping Car Company
- New York and Harlem Rail Road
- Spuyten Duyvil and Port Morris Railroad
- Staten Island Rail-Road
In 1883, he resigned all his company presidencies and had his sons appointed as chairmen but left the day-to-day running of the businesses to experienced men appointed president.
William Henry Vanderbilt is perhaps most remembered for snapping "the public be damned" at an interviewer..in context, an irritated reaction to the other's suggestion that the New York Central Railroad system, which Vanderbilt controlled, ought to be operated as if it were a public trust.
He was an active philanthropist as well as builder of opulent Fifth Avenue mansions.
On his passing, he was interred in the Vanderbilt family mausoleum at the Moravian Cemetery in New Dorp on Staten Island, New York.
William Henry Vanderbilt's estate was divided among his eight children, the bulk of which went to his four sons.
Children of William Henry Vanderbilt and Maria Louisa (Louise) Kissam:
- Cornelius Vanderbilt II (1843-1899)
- Margaret Louisa Vanderbilt-Shepherd (1845-1924)
- William Kissam Vanderbilt (1849-1920)
- Emily Thorn Vanderbilt (1852-1956)
- Florence Adele Vanderbilt -Twombly (1854-1952)
- Frederick William Vanderbilt (1856-1938)
- Eliza Osgood Vanderbilt-Webb (1860-1936)
- George Washington Vanderbilt II (1862-1914)
His last home is on the left in the image linked at the St. Thomas Episcopal Church, New York article.
