Episode 10: The Iceberg Cometh
A family fortune isn’t always family friendly.
Sibling rivalry can reach great heights when money is divided unequally, especially after one infamous maritime tragedy changed the course of a dynasty.
When the Titanic sinks, the richest man aboard went down with the ship leaving behind a young pregnant wife. The oldest son inherited everything and is unwilling to accept his new half brother. The importance of family relationships especially between half siblings.
Archival music provided by Past Perfect Vintage Music, www.pastperfect.com.
Publish Date: August 20, 2020
Length: 19:58
Opening Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands
Section 1 Music: These Foolish Things by Benny Carter, Album Perfect Blues
Section 2 Music: Nightfall by Benny Carter & His Orchestra, Album Nightfall – Sophisticated Jazz Classics
Section 3 Music: These Foolish Things by Benny Carter, Album Perfect Blues
End Music: My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands
AS THE MONEY BURNS
Podcast by Nicki Woodard
Episode 010 – The Iceberg Cometh
00:00
[Music – My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands]
AS THE MONEY BURNS is an original podcast by Nicki Woodard. Based on historical research, this is a deep exploration into what happened to a set of actual heirs and heiresses to some of America’s most famous fortunes when the Great Depression hits.
Each episode has three primary sections. Section 1 is a narrative story. Section 2 goes deeper into the historical facts. Section 3 focuses on contemporary, emotional, and personal connections.
00:24
Story Recap
While teenager Barbara Hutton obsessively works to reunite former lovers, Doris Duke finds herself the focus of an older man Jimmy Cromwell. Another teen heir Jakey Astor continually crosses everyone’s path.
Now back to AS THE MONEY BURNS
Title
00:43
The Iceberg Cometh
[Music fade out]
Episode Tag
00:47
A family fortune isn’t always family friendly.
Sibling rivalry can reach great heights when money is divided unequally, especially after one infamous maritime tragedy changed the course of a dynasty.
01:00
[Music – These Foolish Things by Benny Carter, Album Perfect Blues]
Section 1 – Story
01:09
[Music fade out]
At the Newport cottage Beechwood, the proud young teen heir Jakey Astor sits at the morning breakfast table with his kind and proper sister-in-law Helen. She’s regal in her own way. They are waiting for Vincent – his older brother, her husband, and now patriarch to the Astor family in America. They have been waiting for a long time.
Finally, growing impatient Jakey dives into his meal. He hates always waiting for Vincent. Helen’s own hunger eventually causes her to relentlessly nibble.
Jakey hurries up and leaves to join up with his friends.
01:42
Later in the morning, a maid goes about cleaning the rooms. She freezes when she comes to the master suite. She glances around then takes a deep breath and goes in.
A scream comes out of the room. On the bed, sits a half-dressed all 6’ 4” in his 40s Vincent staring down at the ground. In comes the butler who shoos the shocked maid out. Vincent inquires about his valet, and the butler confused asks another servant to check on him.
Vincent mumbles he doesn’t want to be a bother but ran into trouble when putting on his shoes. The butler picks up the shoes removing the inserts and helps Vincent finish getting dressed adding a favorite gold pocket watch to the sailing attire. The servant returns to inform them that the valet is very sick and that a doctor has been called.
02:30
Strolling around the docks, teen heiresses the budding fashionista Barbara Hutton and the tall awkward Doris Duke are catching up. Doris relays her confusion about the situation with older man Jimmy Cromwell, whose sexual attentions went a further than the inexperienced youth could reciprocate. Doris clams up and freezes when she looks ahead.
Jakey hangs with a group of male teen heirs before the annual Regatta begins. It’s one of the quintessential Newport activities. Tiny rain drops barely appear from the sky.
They come across the Nourmahal – Vincent’s brand new yacht built in 1928. The guys egg Jakey on a dare to board the ship. The yacht might be Astor property, but Vincent is very territorial over his toys.
Irritated and proud, Jakey walks up the plank and struts on the deck like it’s his alone.
03:24
Barbara nudges Doris to keep walking, but she’s too afraid everyone will laugh at her again. The increasing rain further traumatizes Doris, as they are also without an umbrella. Before anyone can really take notice of them, the captain steps out, greets Jakey, and waves. Everyone then notices Vincent’s arrival.
The drops of rain quickly change into downpour. The teen males scramble away, as Barbara and Doris struggle to find cover. Clumsily, Doris and Vincent bump into each other in front of the plank. Vincent insists the girls board the yacht until the rain subsides.
03:59
Inside the lavish Nourmahal, this isn’t just any yacht. It’s one of the finest modernized ships of its era. They sit in one of the lounging areas – Barbara, Doris, Vincent, and Jakey. The air is filled with tension and deafening silence. The yacht shifts from time to time, though at port it’s still part of the sea. But the storm outside is no match for the internal storms inside.
As they rock about, Vincent fidgets with his gold pocket watch. Its gleam occasionally hits Jakey’s eyes, who deep down seethes with rage at his brother. The silence is mostly caused by their mutual dislike.
Vincent has no idea how to talk with teen girls. He has always been socially awkward much like Doris. They actually have much in common being two of the wealthiest heirs of their individual generations. Doris has the reverse setup in her family with an older half brother Walker. Both heirs lack the grace and sophistication their domineering mothers demand.
05:01
From his seat, Jakey glances from one to the other. He envies Barbara’s only child status, admires Doris’s strength of will despite her other flaws, and well as for Vincent every time he flicks that watch Jakey considers justifiable homicide. Jakey’s stomach churns when he goes to excuse himself —
A hard jolt rocks the boat and throws him to the floor. The lights go out.
05:27
Flashback April 14-15, 1912
Under the darkness of night and in cold bitter air, chaos reigns as the ship Titanic tilts and creaks sinking into the water.
Dashing in his lifejacket, Colonel John Jacob Astor IV, or Jack, (late 40s) guides his pregnant young bride Madeleine (only 18) to the lifeboats.
As Jack assists his wife, the steward warns, “Women and children first.”
Truly concerned, Astor pleads, “May I please accompany my wife? She’s with child. I can help row.”
The steward firmly states, “Sir, women and children only.”
“Jack, don’t leave me.” Madeleine clings to her husband. Their passionate love for each other apparent.
He tenderly puts her in the boat. In a soothing voice, he coos, strokes her head, and kisses her gently, “Don’t worry, my love. This is probably a cautionary step. I’ll catch another boat.”
She rubs her belly at the wonderful thought. However the panic around them is real and a nightmare. The boat is partially full. The stewards lower it into the water.
06:41
Jack turns around and helps other women into the final boat, then he checks his gold pocket watch and drifts from the sight into the chaos.
In the dark distance, Madeleine with the other ladies and children watch as the lights flicker aboard the sinking ship.
A week later in daylight a crew fishes the dead out of the water, including a well dressed man with a gold pocket watch.
07:03
Back in Newport —
The lights flicker back on aboard the Nourmahal. The jolt flung the pocket watch over towards Jakey. He picks up his father’s gold watch touching it quite possibly for the very first time. So many feelings overtake him, then he sees Vincent glaring at him. Barbara and Doris don’t understand what is happening.
Jakey hands back over the watch and excuses himself.
07:29
[Music – Nightfall by Benny Carter & His Orchestra, Album Nightfall – Sophisticated Jazz Classics]
Section 2 – History & Historiography
07:40
[Music fade out]
When the Titanic struck an iceberg, a whole generation and those thereafter learned the vulnerability of thinking one could be invulnerable. The Titanic was a modern marvel that many excitedly anticipated its maiden voyage. Had that voyage not turned into a maritime tragedy it would likely receive far less attention today.
08:00
James Cameron’s 1997 film Titanic was the largest grossing film for twelve years, and yet much of the film’s success with all its technical genius is attributed at its core being a love story. Ironically, within the film another true love story was hinted at but never fully explained – that of the richest man aboard John Jacob Astor IV and his young pregnant wife Madeleine. In the film, Kate Winslet’s character Rose mentions to Leonardo DiCaprio’s Jack about the scandalous love affair in High Society. John Jacob Astor IV was portrayed by Eric Braeden, the ultimate leading male soap star Victor Newman of The Young & The Restless (my grandmother’s favorite daytime soap).
08:43
Here’s the real story behind the love, scandal, and tragedy and how it impacted all of Astor’s children.
As previously mentioned, the Astor fortune was established by America’s first millionaire businessman German immigrant John Jacob Astor, a fur trader who ended up owning a large portion New York City’s most prized real estate. He established a strong pattern of passing the bulk of the fortune sometimes skipping generations to one chosen male heir with all other children getting a substantially smaller pittance in comparison. Thus the Astor fortune would be ensured to continue.
By the end of the 19th Century, grandson William Astor Jr’s wife Caroline would be the reigning Society queen, infamous for the 400 list and a battle of wills against Alva Vanderbilt. Caroline and William had only one son John Jacob Astor IV along with 4 daughters.
09:32
John Jacob Astor IV, aka Jack or Colonel, was unhappily married to Ava Lowle Willing. They had two children William Vincent in 1891 and Ava Alice Muriel (aka Ava in Episode 04 Wonderful Things) in 1902. Thanks to the pioneering efforts of Alva Vanderbilt’s divorce, the long estranged Astor couple agreed to divorce promptly after Caroline’s death – they did not want to deal with her disapproval. Jack took custody of son Vincent while the former Mrs. Astor took their daughter Ava to England and hence the connection to King Tut’s financier Lord Carnarvon.
10:07
Back in the United States, Jack seemed to liven up after being free from his dominating ex-wife. Divorce and remarriage had now become socially acceptable. So quite naturally, Jack fell in love and married again in 1911 to Madeleine Talmage Force. What should have been happy times for the wealthy heir became immediately scandalous. Not only did the marriage occur too quickly within a year after the divorce, Jack was 47 while his bride was 18 yrs old – one year younger than his son Vincent. They married at Beechwood with Vincent serving as the best man.
10:40
The uproar in Society caused Jack and Madeleine to go on a long trip to Europe and the Mediterranean to wait for the heat to die down. While seeing the pyramids of Egypt and other sites, Madeleine became pregnant. The couple decided to return before the birth to the United States aboard the Titanic. An inventor, avid sailor, and technically curious, Jack was thrilled to be part of the maiden voyage of the modern marvel. As now known, they were separated at the lifeboats due to the restrictions against men. Nobly, he would assist others as the ship went down – the richest man to die in the tragedy.
11:14
Upon hearing of the disaster, Vincent did not immediately panic but stayed camped at the White Star Line offices waiting to hear the list confirming survivors. The next morning, the first news was only the number of who survived. Vincent’s attitude changed to concern as he started to comprehend the magnitude. He left, went home and ate breakfast the first food he had consumed in 24 hours, then went to his father’s office. He authorized a $10,000 contribution for needy survivors. At 5pm, the list of names who survived was announced. His beloved father was not on it. Vincent’s only consolation was knowing of his father’s final brave acts.
11:55
The statistics – 705 survivors, 1517 perished of which 832 passengers and 685 crew members. 53.4% more could have survived had they used the lifeboat spaces available. By group, survivors were 75% of all women, 52% of all children, 20% of all men. Nine babies were born in the months afterwards. Another 2 died shortly after their birth, and 2 more were stillborn. Two pregnant woman died in the tragedy.
12:35
Madeleine survived and four months later on August 14th gave birth to Jakey, formally John Jacob Astor VI. The Astor will gave the bulk of the fortune to oldest son Vincent estimates around $75-87 million (nearly 2 billion today and becoming No. 12 on Forbes very first richest list in 1918), $10 million to daughter Ava Alice, $5 million trust with lifetime access to all properties to Madeleine unless she remarried, and $3 million to any unknown heir. Had Jack survived he might have allotted things differently.
13:16
Vincent was an awkward Harvard student, struggling to get by on a minimum allowance by his father – Vincent had to borrow $40 to buy a motorcycle. Jack was harsh and often unforgiving disciplinarian. Now Vincent was one of the richest men – inherited everything only 7 months later when he turned 21 with no generation skipping trusts nor a more equitable split with Jakey. Immediately, Vincent quit Harvard, showed up at the estate office (the first time an Astor had been there in 20 years), and started studying the business. Learning quickly the Astor fortune involved a lot of slums, he then set out to rectify. Vincent could be charitable to the poor, but he was stingy with his family and he hardly had any friends – a distant cousin Franklin Delano Roosevelt being one of the few.
14:09
Vincent and Ava hardly got along with their 11 year age difference and being reared apart causing most of the estrangement, but they did try. Vincent’s first wife Helen was better at the social mingling, but Vincent suffered from mumphs back at Harvard which left him infertile. Helen wanted to formally adopt Jakey as their heir, but Vincent was vehemently against it.
14:31
In fact, Vincent would claim Jakey was illegitimate and not Jack’s real son, indeed implying Madeleine had an affair. Madeleine would marry within 3 years after Jack’s death willingly forfeiting her inheritance for love, but she would fight to have her son included as a proper Astor heir. Both Ava and Helen will be kind to Jakey, but they have no influence over Vincent on the matter.
14:55
Born only a few months before Barbara Hutton and Doris Duke, Jakey would forever be conscious of the scandal surrounding his parents and birth. He often suffered digestive issues, which his mother explained to a school nurse, “Well, you know, his father went down on the Titanic.” Many assumed Jakey had inherited a sum equal to Vincent, for which he would not deny. Since Vincent was atrociously bad with Society, Jakey portrays himself as the suave rightful Astor heir in hopes one day of winning over his half brother’s approval. The big rub Vincent is the executor of the minor Jakey’s estate, and Jakey will have to wait until he’s 21 to have control over his own trust fund.
15:37
Meanwhile Vincent has his toys – a luxury yacht, multiple vehicles, several estates,… Jakey will have to bide his time going to prep school at St. George’s in Newport then to Harvard.
Vincent inherited everything – including that prized pocket watch that was discovered on Jack’s body. Much to Vincent’s vexation, Jakey essentially got to be the namesake.
16:01
Speaking of names – Jakey was one reference to the heir, he was also referred to as Jack, Jackaster, in US press John Jacob Astor III (though completely incorrect his father was the 4th and a British cousin the 5th who also went by Jakie), and the moniker “Titanic baby” (oh he definitely hated that one). I’m going with Jakey due to youth and more unique for this set. His sister Ava Alice Muriel Astor was popularly known as Alice, and Vincent and Alice’s mother went formally by Ava. But the mother Ava has little mention in our primary story, and the name Alice competes with the Mrs. Alice Vanderbilt and a few other similar namesakes. Thus, I will use Ava primarily for the sister.
16:47
The first John Jacob Astor left behind as a legacy many institutions including the Astoria library in Manhattan’s East Village which now serves as the New York Public Library. Another avid builder, John Jacob Astor IV contributed both St. Regis and Knickerbocker hotels in New York City. Vincent too will make his own contributions, but that’s getting ahead of ourselves in this story.
17:09
[Music – These Foolish Things by Benny Carter, Album Perfect Blues]
Section 3 – Contemporary & Personal Relevance
17:20
[Music fade out]
Part of what fascinates me in all these intertwined stories is the various familial relationships especially with siblings and all their complexities. I sort of get the issues over large sums of moneys and fractured relationships, and yet the situation still breaks my heart.
The rub comes from the dynamics between all the siblings. I’m the youngest of four, with the two oldest 10 & 11 years older and half siblings – we all share a biological mother. The brother I lost was my full blooded sibling, and I can’t imagine how I survived without having my other brother and sister. To this day, I’m grateful for them both.
Now as my sister and I have discussed, it’s different when you grow up in the same house as we did. The “half” description merely explains a few basic technicalities as in not looking alike.
My family’s overall motto are kids are welcomed into the family no matter what – they didn’t get a say in the situation. And that’s for stepkids, so halves well they’re actual blood. And trust me there are so many divorces, remarriages, and what not in my family there are a lot of kids we are gonna claim for life. A LOT. Even if the marriages go, we keep the kids.
I’ve seen money come and go, and it can help situations certainly. But for many of the troubles I’ve gone and seen through life, I value most the relationships that have helped me through them.
18:43
The iceberg that hit the Titanic was a big event that made news around the world and still lingers on today. However a bigger iceberg the Great Depression is coming in our story that will have a far greater impact that changes the world forever.
And now once again, we are in the midst of another iceberg ripping across all threads in society. The most precious things at stake – are those we love.
Hook
19:06
[Music – My Heart Belongs to Daddy by Billy Cotton, Album The Great British Dance Bands]
Next when we return to AS THE MONEY BURNS…
Music soothes the soul and can cross racial lines. When a supreme hostess introduces an international guest to one local style, a new media sensation is created.
Until then…
Credits
AS THE MONEY BURNS is an original podcast written, produced, and voiced by Nicki Woodard, based on historical research. Archival music has been provided by Past Perfect Vintage Music, check out their website at www.pastperfect.com.
Please come visit us at As The Money Burns via Goodpods,Twitter, Facebook, or Instagram. Transcripts, timeline, episode guide, and character bios are available at asthemoneyburns.com.
19:58
THE END