Cornelius Smythe III is a young heir who comes to Greenpoint and possibly ends up living in Mary Kornman's old neighborhood. Like Waldo and Wally Albright before him, he longs to live a life without the restraints of wealth so when he meets Alfalfa Switzer and discovers their resemblence to each other, they switch clothes and identities. Named "Corny" by Alfalfa, Cornelius enjoys roughing it with Alfalfa's friends until he has to do his chores, promising the gang ice cream sodas to do them for them until he realizes he no longer has the money to pay for them. Meanwhile, Alfalfa isn't fond of Cornelius's rigid schedule and the two of them soon switch identities once again. The two boys lose contact with each other after that.
Cornelius was played by Carl Switzer.