Astor, John Jacob:

$1,250 · Offered by William Reese Company

[AUTOGRAPH LETTER, SIGNED, FROM JOHN JACOB ASTOR III TO EDWARDS PIERREPONT, IN WHICH ASTOR DECLINES AN INVITATION TO SERVE ON THE BOARD OF A RAILROAD ... A brief letter in which John Jacob Astor III modestly declines to join the board of directors of the Southern Transcontinental Railway Company. Astor writes to lawyer and jurist Edwards Pierrepont that his "principal reason for declining is, that I could & would be of no use to the Company in any way, beyond such very slight and temporary support, as it might possibly derive from my name. As for taking any real share in 'the important duties' to be discharged in 'carrying out this' great enterprize I could not do it, and I do not desire to take a share of good things that I have done nothing to create."Astor may have made his decision after the fact. A New York Times article from November 1, 1870, entitled "Permanent Organization of the Southern Transcontinental Railway Company," recounts the meeting in which the railroad was formally established, led by Gen. John Fremont. Astor is listed among the directors elected that day, along with Pierrepont and with Marshall O. Roberts being elected as president. Either Astor changed his mind, or never wanted to serve in the first place and was elected in absentia. The latter seems more likely, as he notes, "I do so [decline the directorship], at this moment, for the reason that I have been notified to attend a meeting of Directors on Monday next, and it is better for the Board to sta

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