Cornelius Vanderbilt Document Signed UACC PADA

Vanderbilt, an American entrepreneur who built his wealth in shipping and railroads. Document dated June 12, 1865. A declaration of trust between Vanderbilt and John M. Tobin, of one part, and The Hudson River Rail Road Co., of the other part. Much of the lengthy text describes the boundaries of several tracts of land, adjacent to Harlem River Rail Road property between Albany and Poughkeepsie purchased by Vanderbilt and Tobin from several different parties. The tracts are part of a farm in the vicinity of Stuyvesant and Coxsackie Ferry, and lands in the towns of Stuyvesant and East Greenbush. The final section of the text explains that Vanderbilt and Tobin were paid one dollar each by the HRR and the lands were conveyed to them to be held in trust for the use of the railroad. After being primarily involved in shipping for years, later in his life Vanderbilt became involved in railroads. Gaining control of The Hudson River Rail Road was his second project in this industry, after he took over its competitor, The New York and Harlem. The transactions documented here must have been part of Vanderbilt's master plan to control the Hudson Valley railroads and consolidate three inefficient operations into a single well-run system. Vanderbilt took control of the third line, the New York Central, in 1867, by the early 1870's he had accomplished his goal. Signed on page 7 "Cornelius Vanderbilt", "John M. Tobin" and "Edwin Quackenbush". Good condition, with considerable fold repair. The paper and writing are otherwise in very good condition.

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Catalog #: 50
Inventory #: 13049