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Parton, James, 1822-1891

"Famous Americans of Recent Times"

His friends tell us that, on his twenty-second birthday
he lifted nine hundred and eight pounds. But his giant strength did
not save him. The fatigues and miasmas of the Corinth campaign planted
in his magnificent frame the seeds of death. He died a year ago, after
a long struggle with disease, to the inexpressible grief of his
family.
During the last two or three years, Commodore Vanderbilt has been
withdrawing his capital from steamers and investing it in railroads.
It is this fact that has given rise to the impression that he has been
playing a deep game in stock speculation. No such thing. He has
_never_ speculated; he disapproves of, and despises speculation; and
has invariably warned his sons against it as the pursuit of
adventurers and gamblers. "Why, then," Wall Street may ask, "has he
bought almost the whole stock of the Harlem railroad, which pays no
dividends, running it up to prices that seem ridiculous?" We can
answer this question very simply: he bought the Harlem railroad to
_keep_. He bought it as an investment. Looking several inches beyond
his nose, and several days ahead of to-day, he deliberately concluded
that the Harlem road, managed as he could manage it, would be, in the
course of time, what Wall Street itself would call "a good thing.


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