August 22, 2011

William H. Vanderbilt Earned $3.66 Per Minute in Bond Interest

 This article was originally printed in The Times Dispatch of Richmond, VA on July 20, 1911.

The Times Dispatch, Richmond, VA, July 20, 1911

William H. Vanderbilt Once Owned $48,050,000 in Government Bonds.

Washington, July 19.--Proof that the elder William H. Vanderbilt once owned $48,050,000 in government bonds, upon which he received interest at the rate of $1,922,000 a year, has been found in the old Treasury records.  The old interest checks made out to Mr. Vanderbilt show the government paid to him $160,000 a month.  One of the department statisticians calculated that he received $220 every hour of the day and night, and $3.66 every minute.

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