In July, 1870, Mr. Vanderbilt chanced to hear that the Rev. Dr. Deems, of New York, was in want of a church. Admiring the energy with which the reverend gentleman had built up his congregation in the short space of three years, Mr. Vanderbilt quietly made up his mind that he should not want in vain. Accordingly he bought the Mercer Street Presbyterian Church, and made the Doctor a present of it, keeping him in ignorance of his intention until he placed the title deeds in his hand.

The first effort to lay a cable in the Gulf of St. Lawrence was made by this Company, in August, 1855. It was a failure, and the cable was lost. The second attempt was made in the summer of 1856, and was entirely successful.

He proved that this was not impossible, for he had his display, making his rockets himself, and after his own model.