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Cornelius Vanderbilt II

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Cornelius Vanderbilt II
Portrait of Vanderbilt by John Singer Sargent
Born(1843-11-27)November 27, 1843
Staten Island, New York, U.S.
DiedSeptember 12, 1899(1899-09-12) (aged 55)
New York City, U.S.
Resting placeVanderbilt Family Mausoleum, Staten Island, New York, U.S.
EmployerNew York Central Railroad
Political partyRepublican
Spouse
​
​
(m. 1867)​
ChildrenAlice Gwynne Vanderbilt
William Henry Vanderbilt II
Cornelius Vanderbilt III
Gertrude Vanderbilt
Alfred Gwynne Vanderbilt
Reginald Claypoole Vanderbilt
Gladys Moore Vanderbilt
Parent(s)William Henry Vanderbilt
Maria Louisa Kissam
RelativesSee Vanderbilt family
Signature

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

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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

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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

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Unissued bond of the Canada Southern Railway Company, signed by vice-president Cornelius Vanderbilt II

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

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Vanderbilt's Newport cottage, The Breakers, built in 1893 by Richard Morris Hunt

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.

Mrs. Cornelius Vanderbilt II and her daughters, Gladys and Gertrude, having tea in the library at the Breakers, Newport, Rhode Island. William Bruce Ellis Ranken, 1932

Together, they had seven children:[1]

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

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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 2024 dollars,[12] $73 million is equivalent to $2.76 billion.[12]

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.[13]

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.[14]

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.[15]

Real estate

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The rear facade of the Cornelius Vanderbilt II House on West 57th Street, New York

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

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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

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References

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  1. ^ a b c d e f Vanderbilt, 173–185.
  2. ^ a b c "MR. CORNELIUS VANDERBILT DEAD; Succumbed Suddenly Yesterday to Cerebral Hemorrhage. DUE TO STROKE OF PARALYSIS Wife and Daughter Gladys Only Members of His Family With Him. He Had Come to This City on Monday from Newport to Attend a Railroad Meeting – Funeral Services to be Held on Friday". The New York Times. September 13, 1899. Retrieved April 15, 2017.
  3. ^ "Wm. H. Vanderbilt Dead. He is Prostrated by Paralysis While Talking to Robert Jarrett, President of the Baltimore and Ohio Railroad, and Dies Without Speaking. His Vast Wealth Estimated at Two Hundred Millions". The Washington Post. December 9, 1885. Archived from the original on June 4, 2011. Retrieved August 1, 2008. William H. Vanderbilt died at his residence in this city, of paralysis, at half-past two o'clock this afternoon. He arose this morning at his usual hour, and at breakfast served to the members of the family, most of whom were present, he appeared to be in his usual health and in a more than usually happy frame of mind.
  4. ^ Vanderbilt, 177-9.
  5. ^ "Mrs. Vanderbilt Sr. Dies in Home at 89. Widow of Financier, Long Ill. Was A Leader in Brilliant Era of New York Society". The New York Times. April 23, 1934.
  6. ^ "Gen. C. Vanderbilt Dies on His Yacht. Great-Grandson and Namesake of Commodore Succumbs in Miami to Brain Hemorrhage. Family With Him at End. He Won Distinction as Soldier, Inventor, engineer, Yachtsman. Often Host to Royalty". The New York Times. Associated Press. March 2, 1942.
  7. ^ Times Wide World (October 27, 1930). "H.P. WHITNEY DIES AT 58 OF PNEUMONIA; ILL ONLY A FEW DAYS; Sportsman and Financier Succumbs Unexpectedly at HisFifth Avenue Home.CAUGHT COLD ON TUESDAY His Wife, the Former GertrudeVanderbilt, and Their ThreeChildren at Bedside.HE INHERITED A FORTUNE Built Up Vast Properties and Became One of Nation's Richest Men-- Famed for Racing Stables. One of America's Richest Men. H.P. WHITNEY DIES AT 58 OF PNEUMONIA Heir to Wealth and Prestige. Guggenheim Guided His Start. Known Also as Dog Fancier. Many Concerns Now Merged". The New York Times. Retrieved November 30, 2016.
  8. ^  Homans, James E., ed. (1918). "Vanderbilt, Alfred Gwynne" . The Cyclopædia of American Biography. New York: The Press Association Compilers, Inc.
  9. ^ "Reginald Vanderbilt Dies Suddenly Today". The Meridien Daily Journal. September 4, 1925. Retrieved March 15, 2011.
  10. ^ "MISS VANDERBILT WILL WED A COUNT; Gladys, Youngest Daughter of Mrs. Cornelius Vanderbilt, the Financee of Laszlo Szechenyi. HUNGARIAN HERE FOR BRIDE Young Court Chamberlain Is a Guest at the Breakers, Newport – Betrothal Made in Europe Last Summer". The New York Times. October 4, 1907. Retrieved April 15, 2017.
  11. ^ "C. Vanderbilt's Personal Estate" (PDF). The New York Times. December 12, 1900. Retrieved August 25, 2017.
  12. ^ a b 1634–1699: McCusker, J. J. (1997). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda (PDF). American Antiquarian Society. 1700–1799: McCusker, J. J. (1992). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States (PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved February 29, 2024.
  13. ^ Hoyt, Edwin Palmer (1962). The Vanderbilts and Their Fortunes. Doubleday. p. 331.
  14. ^ "Vanderbilt Will Changed by Heir". The New York Times. October 27, 1899. pp. 1–2. Retrieved April 4, 2025.
  15. ^ Hoyt, Edwin Palmer (1962). The Vanderbilts and Their Fortunes. Doubleday. p. 331.

Further reading

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