Cornelius Vanderbilt II
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Cornelius "Corneil" Vanderbilt II (November 27, 1843 – September 12, 1899) was an American socialite and a member of the prominent United States Vanderbilt family.
Noted forebears
He was the favorite grandson of Commodore Cornelius Vanderbilt, who bequeathed him $5 million, and the eldest son of William Henry "Billy" Vanderbilt (who bequeathed him about $70 million) and Maria Louisa Kissam. In his turn, he succeeded them as the chairman and the president of the New York Central and related railroad lines in 1885.[1]
Early life
Cornelius Vanderbilt II was born on November 27, 1843, on Staten Island, New York to William Henry Vanderbilt (1821–1885) and Maria Louisa Kissam.[2][3]
Career
Vanderbilt established a reputation for a strong work ethic while clerking at the Shoe and Leather Bank in New York City. This endeared him to his grandfather, the 'Commodore,' who was a strong believer in personal industry.[4]
Vanderbilt was active in numerous organizations, including the Saint Nicholas Society of the City of New York, YMCA, Red Cross, Salvation Army, Trinity Church, St. Bartholomew's Church, Sunday Breakfast Association, and the Newport Country Club.[2]
Personal life and death
On February 4, 1867, he married Alice Claypoole Gwynne (1845–1934), daughter of Abraham Evan Gwynne and Rachel Moore Flagg.[5] The two met at St. Bartholomew's Episcopal Church where both taught Sunday school.
Together, they had seven children:[1]
- Alice Gwynne Vanderbilt (1869–1874), who died of a childhood illness at the age of five.
- William Henry Vanderbilt II (1870–1892), who died of typhoid fever while attending Yale University.
- Cornelius "Neily" Vanderbilt III (1873–1942), whom his father disinherited for marrying Grace Graham Wilson (1870–1953) without his approval.[6]
- Gertrude Vanderbilt (1875–1942), who married Harry Payne Whitney (1872–1930)[7]
- Alfred Gwynne Vanderbilt (1877–1915), who died aboard the RMS Lusitania, and who married Ellen French, and after their divorce, Margaret Emerson (1884–1960).[8]
- Reginald Claypoole Vanderbilt (1880–1925), who first married society debutante Cathleen Neilson, and later Gloria Morgan.[9]
- Gladys Moore Vanderbilt (1886–1965), who married Count László Széchenyi (1879–1938).[10]
A stroke in 1896 compelled him to reduce his active business involvement. He died of a cerebral hemorrhage shortly after 6 a.m. on September 12, 1899, at his home on West Fifty-seventh Street in Manhattan, New York City.[2]
Upon his death, family leadership passed to his first brother, William Kissam Vanderbilt.
Estate
Vanderbilt's philanthropy had been such that he did not increase the wealth that had been left to him.[1] His estate at the time of his death was appraised at $72,999,867, $20 million of which was real estate.[11] In Template:Inflation-year dollars,Template:Inflation-fn $73 million is equivalent to $Template:Formatprice.Template:Inflation-fn
In the weeks following Cornelius Vanderbilt II's death, the terms of his will sparked a minor controversy within New York society when it was revealed that Vanderbilt's eldest surviving son, Cornelius Vanderbilt III, was to receive a substantially smaller share of his estate compared to his siblings. In his place Vanderbilt’s second surviving son, Alfred Gwynne Vanderbilt, was named as the principal beneficiary, inheriting over half of the fortune as well as the Gold Congressional Medallion awarded to his grandfather, 'Commodore' Cornelius Vanderbilt I, by the United States Congress—an heirloom which had come to symbolise headship of the Vanderbilt family. The final version of the will bore the date 18 June 1896, the same day originally intended for the wedding of Cornelius Vanderbilt III to Grace Wilson despite his parents' disapproval of the union.[12]
Under the terms of the Will, Vanderbilt's widow received a $7,000,000 trust fund which would pay a life annuity of $250,000, with instructions that upon her death, this fund be equally divided among her children unless otherwise stipulated in her own Will. Alice also received an additional outright gift of $2,000,000, ownership of the family's box at the Metropolitan Opera House, a life interest in both the Newport estate, "The Breakers," and the family’s Manhattan residence at 1 East Fifty-Seventh Street. The terms of these bequests gave Alice authority to assign her interest in The Breakers to Alfred, Reginald, Gertrude, or Gladys. Unless otherwise provided in her Will, after Alice's death the Manhattan House would pass to Alfred; in the event of Alfred predeceasing Alice the house would instead pass to Reginald.
Alfred, Gertrude, Reginald and Gladys each received $1,125,000 from a $5,000,000 Trust Fund established for Cornelius Vanderbilt II's benefit under his own father's Will, and a quarter-share of a $20,000,000 Trust Fund. A separate gift of $1,000,000 was also provided for Gertrude, and in addition to the entirely of the residuary estate (valued between $28,500,000 and $35,000,000), Alfred also received the Rhode Island Oakland Farm Estate.
In addition to being passed over as the eldest surviving son, in contrast to the $6,125,000 his other siblings received, Vanderbilt Sr's will limited his son Cornelius Vanderbilt III's inheritance to the income from $1,000,000 Trust Fund, plus the remaining $500,000 from the $5,000,000 William H. Vanderbilt I Trust Fund.
Vanderbilt's Will also provided for a specific bequest of $100,000 to his younger brother Frederick William Vanderbilt, whilst other relatives, friends, and servants collectively received approximately $565,000. Various churches and charitable organisations collectively received charitable bequests totaling $1,020,000.[13]
Despite his effective disinheritance under their father's will, shortly after their father's death Alfred voluntarily gifted Cornelius III $6,000,000 from his own inheritance so that his brother's share would match that of their other siblings.[14]
Real estate
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The Fifth Avenue mansions that Cornelius Vanderbilt II, his brothers, and his sons lived in have been demolished, including Cornelius Vanderbilt II House.
His 70-room summer residence, The Breakers in Newport, Rhode Island, still stands as a memory of his lifestyle. It is today operated as a historic house museum.[1]
Descendants
Through his son, Reginald, he was the grandfather of Gloria Laura Vanderbilt, the socialite and fashion designer, and the great-grandfather of news anchor Anderson Hays Cooper.[1]
Through his son, Alfred, he was the grandfather of William Henry Vanderbilt III, Alfred Gwynne Vanderbilt Jr., and George Washington Vanderbilt III.[1]
See also
References
Further reading
- Template:Cite Appletons' For vital data.
- Vanderbilt, Arthur T., II (1989). Fortune's Children: The Fall of the House of Vanderbilt. New York: Morrow. Template:ISBN.
- Architectural essay on the construction and demise of the Fifth Avenue mansion.
Template:Gertrude Vanderbilt Whitney Template:Authority control
- ↑ a b c d e f Vanderbilt, 173–185.
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- ↑ Vanderbilt, 177-9.
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- Pages with script errors
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- 1843 births
- 1899 deaths
- 19th-century American railroad executives
- American people of Dutch descent
- American socialites
- Businesspeople from Newport, Rhode Island
- Businesspeople from Staten Island
- Vanderbilt family
- New York (state) Republicans
- Gilded Age
- Presidents of the Saint Nicholas Society of the City of New York
- Burials at the Vanderbilt Family Cemetery and Mausoleum