John Jacob Astor by Elbert Hubbard
page 16 of 28 (57%)
page 16 of 28 (57%)
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The profit on this one voyage was seventy thousand dollars. By Eighteen Hundred and Ten, John Jacob Astor was worth two million dollars. He began to invest all his surplus money in New York real estate. He bought acerage property in the vicinity of Canal Street. Next he bought Richmond Hill, the estate of Aaron Burr. It consisted of one hundred and sixty acres just above Twenty-third Street. He paid for the land a thousand dollars an acre. People said Astor was crazy. In ten years he began to sell lots from the Richmond Hill property at the rate of five thousand dollars an acre. Fortunately for his estate he did not sell much of the land at this price, for it is this particular dirt that makes up that vast property known as ``The Astor Estate.'' During the Revolutionary War, Roger Morris, of Putnam County, New York, made the mistake of siding with the Tories. A mob collected, and Morris and his family escaped, taking ship to England. Before leaving, Morris declared his intention of coming back as soon as ``the insurrection was quelled.'' The British troops, we are reliably informed, failed to quell the insurrection. Roger Morris never came back. |
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