Astor, JOHN JACOB

Astor, JOHN JACOB, millionaire, the founder of the 'American Fur Company,' was born in Germany, near Heidelberg, in 1763. A peasant's son, he helped on his father's farm, until in his 16th year he went to London and worked with his brother, a maker of musical instruments. In 1783 he sailed to America, and by the advice of a dealer in furs whom he met on the voyage, invested his small capital in furs. By economy and industry, he so increased his means that after six years he had acquired a fortune of 250,000. Although the increasing influence of the English Fur Companies in North America was unfavourable to his plans, he now ventured to fit out two expeditions to the Oregon Territory—one by land, and one by sea—the purpose of which was to open up a regular commercial intercourse with the natives. After many mishaps, his object was achieved in 1811, and the fur-trading station of <a href="/vol-1/astoria.html" class="qv">Astoria</a> (q.v.) was established; but the war of 1812 stopped its prosperity for a time. From this period Astor's commercial connections extended over the entire globe, and his ships were found in every sea. On his death at New York, 29th March 1848, he left property estimated at 20,000,000, and a legacy of 350,000 for a public library.—His wealth was mainly inherited by his son, WILLIAM (1792-1875), who at his death left 50,000,000. He was known as the 'landlord of New York,' and added $200,000 to his father's library bequest.—A great-grandson, WILLIAM WALDORF, born in New York and trained for the bar, was minister to Italy (1882), and in 1892 settled in England, where he purchased the Pall Mall Gazette and Budget (discontinued 1895), founded the Pall Mall Magazine (1893), and bought the Duke of Westminster's Cliveden property.