Lake Shore and Michigan Southern Railway Co. issued to William H. Vanderbilt - 1877 dated Railroad Transfer Receipt

Stock issued to Wm. H. Vanderbilt but not signed by him.

William Henry Vanderbilt (1821-1885) was a prominent businessman and a member of the illustrious Vanderbilt family in the United States. He inherited nearly $100 million from his father, Cornelius Vanderbilt, and managed to double that amount to approximately $200 million by the time of his death, less than nine years later. At that point, he was recognized as the wealthiest individual in America, although his fortune was modest compared to the vast wealth of contemporaries such as John D. Rockefeller and Andrew Carnegie. His father meticulously guided his business education, beginning his career at the age of 18 as a clerk in a New York banking institution. After joining the executive team of the Staten Island Railway, he ascended to the position of president in 1862, and three years later, he became vice-president of the Hudson River Railway. In 1869, he was appointed vice-president of the New York Central and Hudson River Railroad Company, ultimately becoming its president in 1877. Additionally, he succeeded his father as president of several railroads, including the New York Central Railroad, the Lake Shore and Michigan Southern Railway, the Canada Southern Railway, and the Michigan Central Railroad. Following his father's passing, he actively expanded the family's railroad empire. By 1883, his elder sons had taken on significant roles within the business. During his tenure, the Vanderbilt women sought acknowledgment from the established yet less affluent leaders of New York City society, particularly the Astor family, whom the Vanderbilts had significantly surpassed in wealth. William Henry Vanderbilt was also engaged in various philanthropic endeavors, supporting organizations such as the YMCA, contributing to the establishment of the Metropolitan Opera, and endowing the College of Physicians and Surgeons at Columbia University. In 1880, he financed the construction of Wesley Hall at Vanderbilt University, which served as the Biblical Department and library, featuring 160 dormitory rooms for students and faculty, lecture halls, and a cafeteria. The building was lost to a fire in 1932, prompting his son Frederick to make a further donation to address the insurance shortfall and facilitate the construction of a new facility.

William Henry Vanderbilt, a passionate art collector, amassed an impressive collection featuring some of the most esteemed works by the Old Masters, acquiring over 200 paintings throughout his lifetime. His portfolio included significant railroad holdings such as the Chicago, Burlington and Quincy Railroad, the Chicago and Canada Southern Railway, the Detroit and Bay City Railroad, the Hudson River Railroad, the Hudson River Bridge, the Joliet and Northern Indiana Railroad, the Michigan Midland and Canada Railroad, the New York Central and Hudson River Railroad, the New York Central Sleeping Car Company, the New York and Harlem Rail Road, the Spuyten Duyvil and Port Morris Railroad, and the Staten Island Rail-Road. In 1883, Vanderbilt stepped down from all his company presidencies, appointing his sons as chairmen while entrusting the daily operations to seasoned professionals who were named presidents. He is perhaps best remembered for his infamous remark, "the public be damned," which he directed at an interviewer, reflecting his irritation at the suggestion that the New York Central Railroad system, under his control, should function as a public trust.

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