Cornelius Vanderbilt Research Paper

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Cornelius Vanderbilt began life as a poor boy. He borrowed money from his mother to buy a ferry boat to carry people across the Hudson and from that built a large ocean shipping empire. During the Civil War he got out the the shipping business. He was then the wealthiest man in the country. He then as a hobby brought the New York and Harlem Railroad. The road had begun as a horse car line and added steam cars to carry people on a meandering route up into the suburbs east of the Hudson River. In Manhattan the line began at 14th Street and went along 4th Avenue, now Park Avenue. He wanted to continue the horsecar line to lower Manhattan so he got a franchise from the New York City Council and begin to build. Some state legislators saw an opportunity. …show more content…
(Selling short is to sell stock you do not own for later delivery in the belief that the price will fall so when it comes time to deliver you can buy the stick you need at a lower price than you sold it for). After selling short the legislatures announce the franchise to lower Manhattan was invalid because the State had not given its permission for it. They expected the value of the stock to plummet. However, Vanderbilt was the wealthiest man in American. As the price began to drop he began to buy and by buying he maintained the price of the stock. He brought so much that the price actually increased. When it came time for the legislators to deliver they found that it was Vanderbilt who had brought their stock in the first place and now he owned almost all of the stock in the rail line. They had to come to him to buy the stock at his price to deliver to him. Many of them lost everything. Vanderbilt made a lot of

Cornelius Vanderbilt Research Paper

Cornelius Vanderbilt Cornelius Vanderbilt was born in Staten Island, New York on May 27, 1794. Child of Phebe Hand and Cornelius van Derbilt. His mother was very hard working for success, and his father was focus on his craft. Even though Cornelius Vanderbilt was successful in life he didn’t finish his education. At age eleven he quit school to work with his father ferrying cargo. Vanderbilt once said, “If I had learned education I would not have had time to learn anything else. At age…

Words 759 - Pages 4

Cornelius Vanderbilt Research Paper

S History Cornelius Vanderbilt Cornelius Vanderbilt was born on May 27, 1794, on Staten Island, New York. His parents were poor farmers and, on the side, ran boats between Staten Island and Manhattan in his “two-masted sailing vessel” referred to as a “periauger”. Cornelius worked with his father on the boat while he went to high school. As a teenager he traded cargo in his own periauger. After that, they owned a fleet of boats and learned about design. During the Civil War, Cornelius gave away his…

Words 528 - Pages 3

Cornelius Vanderbilt Research Paper

Cornelius “Commodore” Vanderbilt was an entrepreneur who acquired over one hundred million dollars through different industries and business ventures such as ferry boats, shipping, and railroads. He came from a humble background with little money or education, but using determination, he still managed to become a successful businessman. Vanderbilt was born on May 27, 1794 in Staten Island, New York to Cornelius van Derbilt and Phebe Hand. His father was a poor farmer and boatman. Vanderbilt’s introduction…

Words 611 - Pages 3

Cornelius Vanderbilt Research Papers

Dutch settlers who came to America in the mid-1600s, Cornelius Vanderbilt was born into humble circumstances on May 27, 1794, on Staten Island, New York. His parents were farmers and his father also made money by ferrying produce and merchandise between Staten Island and Manhattan in his two-masted sailing vessel, known as a periauger. As a boy, the younger Vanderbilt worked with his father on the water and attended school briefly. When Vanderbilt was a teen he transported cargo around the New York…

Words 526 - Pages 3