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
RECEIVED $3.66 A MINUTE

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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