Vanderbilt

The CommodoreCornelius Vanderbilt was born on May 27, 1794 in Staten Island, New York to a poor family. At age 11 he quit school to work for his father who was in the boating business. When he was 16 he asked his mom for $ 100.00 loan to buy a ferry and cargo transport that he operated along the Hudson and around New York for eighteen cents a trip. The loan was repaid within a year plus one thousand in interest. The War of 1812 created new opportunities for Vanderbilt. He received a government contract to supply forts around New York. Large profits allowed him to build a schooner and two other vessels for coastal trade. “Vanderbilt got his nickname the “Commodore” being in charge of his schooner, which was the largest one on the Hudson Bay.” By 1817 he possessed $9,000.00 in addition to the interest in the sailing vessels. In 1818 he sold his interests and turned to steam boating. He saw the success that Robert Fulton and Robert Livingston were having on the Hudson and want...