August Belmont, builder of the New York City subway, began his career
with the handicap of great wealth. His father, August Belmont, senior,
was one of the richest and best known American bankers. His son August
was graduated from Harvard University in 1875, and for a time gave
himself up in large measure to the usual occupations of the youth of
fortune. But as he grew older he interested himself more and more in
the great banking business established by his father. In the course of
a few years he became, on his own account, a power in the financial
world. He is now an officer or director in many banking, railway,
manufacturing and other corporations. In addition to these he has
been a strong supporter of the best art, literary, patriotic and other
American activities, being a member of numerous associations devoted
to such movements. He has taken an active part in politics, and is
much interested in the breeding of thoroughbred race-horses. His most
conspicuous activity, however, has been the building of the subway,
which has added so greatly to the transportation facilities of the
metropolis.