By 1879 it was a central part of the city and brought high rentals. It is an indulgence which, however great the superficial consequential money cost may be, is, in reality, inexpensive. The Goelet fortune was estimated to be around $50 million and it was principally maintained by brother Ogden and Robert Goelet. The Goelet family is an influential family from New York, of Huguenot origins, that owned significant real estate in New York City . One tract of land, extending from Third avenue to the East River and from Sixty-fourth to Seventy-fifth street, which he secured in the early part of the nineteenth century, became worth a colossal fortune in itself. The amount of $319,000,000 was calculated as being solely the value of the land, not counting improvements, which were valued at as much more. Some of the lots cost him but ten dollars each. He had a clear notion (for he was endowed with a highly analytical and penetrating mind) that in giving a few coins to the abased and the wretched he was merely returning in infinitesimal proportion what the prevailing system, of which he was so conspicuous an exemplar, took from the whole people for the benefit of a few ; and that this system was unceasingly turning out more and more wretches. Peter had two sons ; Peter P., and Robert R. Goelet. The factors entering into the building up of the Schermerhorn fortune were almost identical with those of the Astor, the Goelet and the Rhinelander fortunes. These stills Longworth took and traded them off to Joel Williams, a tavern-keeper who was setting up a distillery. He Inherited $60,000,000. They reduced miserliness to a supreme art. A surfeit of money brings power, but it does not carry with it a recognized position among a titled aristocracy. 10 So valuable was a partnership in this firm that a writer says that Field paid Leiter an unknown number of millions when he bought out Leiters interest. Goelet, it seems, was allowed to pay in installments. Growing up, Kip lived with his parents, his sister Margaret (who died young), and the family's servants in a house overlooking Washington Square in Manhattan. At least $55,000,000 of it was represented at the time that the executors made their inventory, by a multitude of bonds and stocks in a wide range of diverse industrial, transportation, utility and mining corporations. There is good reason to believe that alongside of his one personality, that of a rapacious miser, there lived another personality, that of a philosopher. In the last ten years the value of the Goelet land holdings has enormously increased, until now it is almost too conservative an estimate to place the collective fortune at $200,000,000.
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