The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-31


| removed 10 the corner OF hird avenue aud lwenty
fourth street, and hence the name Of Buli's Heed
portion OF the city though not exactly IN the wilder
ness was wei out OF town; In fact quite ~ TIE
country Hls cattle yard was l,tle back IRON NE
SIZE TO accommodate 800 head OF cattle AnJacent
70 the yard there was when he went there an exlen
siye wheat Held In fact the country NIL arounn was
decidedly rural In connection with the cattle yard,
anu which was an important feature OF the eus
ness was the public house on the corner which ne
kept and to which was given the name bulls
Head Tavern" Under his managemens thls
the city. The same building. made memorable b.
peng 30 long his headquarters IL stil standing but
which we have referred it would be pleasant 70
larry while at this Old hosiery TO picture TO the
inagihation Mr. Drew as the genial aud benisnans
Donl1ace, dispensing his Inequalities TO hts hume
rous patrons; TO hear them talk their diverse
experiences as on long winter evenings they sat
as on pleasant summer days they sat under the
wlde-spreading porch. Mr.. Drew remained here
cattle trade, his close attention business and
irugallty, enabled him to retire from 1t with a very
handsome fortune. or course man Of his active
| temperament could not long remain idle.
| HIS STEAMBOAT ENTERPRISES.
| In 1895 Mr.. Drew began his steamboat enterprises.
| Always living near the Hudson river and apprect-
ating the extent OF travel and freight on this noble
| river, he saw the magnificent opening here for his
spirit OF daring enterprlse-he opening as he clearly
| saw to making money more rapidly than IN dealing
ness might be conducted lie seized the opportunity.
lie saw that Commodore Vanderbilt was carrying
before HIM lie o determined a,a e,oaf
| king from the field that at least ne would divide
the honors and emoaments with him. lie com
| menced with the steamers Westchester and Enie
| raid, running them from New York TO Albany. Mr..
Vanderbilt was then charging three dollars iare TO
Drew at put the fare down TO dollar and
| made like reduction IN freight.
''You will soon fail In this business said Com
/ modore Vanderbilt to HIM.
s'What makes you think so ~ asked Mr. Drew.
because you don't understand the business
/ i
ave WIN see about that" added Mr.. Drew.
hardness. He commenced cautiously lie went on
| feeling his way lie calculated every step he took.
lie made no mistakes. He kept adding, as business
/ increased new steamers to his line. lie built the
| Knckerbocker he bought the oregon George Law
| had built for himself and added her to the line.
Soon he had also running the Isaac Newton and then
| the New World. These were large ana magnificent
| steamers in their time. They were largely patron
| lzed by The travelling public and they were crowded
| with freight The revenue from the steamboats, was
enormous lie broke down all opposiron-ne COM
| PEELED Commodore Vanderbilt to compromise.
| "Do you think 1 understand the steamboat busi-
nessf' he SAID about this time to the Commodore.
| ii don't think anything about 1t, know you do,n
| answered the Commodore, bunty.
The Commodore and Mr.. Drew were now, however,
sworn friends. They worked their steamboat enter
prises In harmony and they have acted Ia harmony
ever since. After TOUR years. steamboatlng the
river he became associated with Isaac Newton as
partner. The line WAS then called 'The Peoples
| Line" the name by which 1t Is still known. More
than fifty STEAMBOATS, have been placed tie river
In opposition TO H. but tneY have all had to succumb
to the superior management and success OF this ne
| In 1862 the Hudson RIVER Railroad commenced run
| ming 1t was Thought that this would utterly de-
| mosh the steamboat business.
''Your steamboats, VIII have to go under" said
| Mr.. Boorman, President OF the road. to him.
"Mhat makes you think sos' asked Mr.. Drew
very Quietly.
"What do you want should ~
"Rase your fare to the same as we charging
| on the road"
'sYou can regulate your railroad fares as you
choose" said Mr. Drew. ''The only way you can
regulate my steamboat fares IS to buy the Peoples
md mn van no ar
enough to do.n
The steamboats, remained on the river, the fares
were kept at their previous low figures, ana instead
OF going under the business continued prosper
GUS Those magnificent steamers, the 81. John.
Dean Richmond and Drew-those sumptuous loat-
ing palaces, for extent and splendor OF appoint
ments unsurpassed by any steamboats, IN the
dsasters-the burning of the Isaac Newton and the
| sinking OF the New World. There was no insurance
| The New World as will be remembered, was sue
cessfuy raised and pat on the river again. lie lost
altogether 100000 from these disasters The
| every Iarthing OF their losses. There was not
law suit or even a single arbitration in the
| case The operations OF Mr.. Drew the Hudson
river do not comprise the full extent of his
boat enterprise. lie also bought out the Stonington
line of steamers, which line lie ran for twenty two
years, deriving therefrom handsome fortune.
A third additional line OF steamers he stationed on
Lake Champlan, which also paid him Handsomely.
Altogether his steamboat enterprises tell the story,
woned srew saaacty as conctor Of arg 9ls b nn
ness operations. one thing that las contributed
/ largely, doubt, To MS success - his Keen udg-
ment IN selecting proper o.operaors and slstlnts
/ He knows well the value OF good man. and is
dowed not only with the requisite Judgment but the
/ lberalily TO pay good man whist he Is worth.
WALL STREET BANKER AsD pRoKER.
| Mr.. Drew's large capacity for business did not
e IN wo yas rsa
| The firm was Drew, Robinson and Co. They did an
immense business. Their credit was unbounded.
| Through all the wild and storm financial nuctua-
| tions OF our great money mart the house stood as
nrm as granite, Mr.. Drew, as avail sterct imam
OF foresight. lie was a rapid, bold ana
successful operator. At one lme he guaran-
for s1,5o0,0U0, which showed the magnitude OF his
transactions. Afterwards, as treasurer OF the Erie
saved the road from eans
rupicy This was IN lS57-a perod o. most exten
syc and sweeping commercial disaster. During
this eventfu epoch, though his Losses were immense,
he never llnched, but met his paper promptly
"oan you sleep in these stormy times ~ gentle
.'.5leep Ike topn he quietly answered. "In all
my heavy operations have not los wink OF sleep,
In connection with Mr.. Vanderbilt he relieved the
Harlem Railroad OF floating deh OF $51o000. and
helped to place 1t IN It's presentprosperous condl-
ton. CT all the large operatioDsln which the firm
engaged only one turned ont tobe mistake, and
TINS arose rom loan mace CONTRARY to Mr.. Drews
advice. While others have trontled at taking I'M
possibilities his extraordinary ne've has carried
him through steadily and safely. HISS, wishing 10
to his son-in.aw, Mr.. Kelley, but The latter dying
shortly afterwards compelled him TO resume the
business again. which he kept w actively until his
retirement TWO years ago.
RAILROAD OPERATIONS.
Mr.. Drew was connected with the Erie Railroad
fourteen years. He began his connection as one OF
the directors in 1853, and subsequently became, as
Is well known. the treasurer which position he held
until his resignation. IL Is unnecessary TO go through
the ups and Gowns or this road during these years.
The eliminating point was the series Of legal
troverses lii the courts and one Of then two years
ago. The memory OF that exciting meis still fresh
Ia the public mind, with the charges OF
mafeasance and swindng and counter charges the
aidavits and counter anidavits. the inlnctons and
counter inunciions issued BY judges aching counter
TO each other the change or base New Jersey and
the rowings IN the midnight log Mr.. Drew made
| powerful and conclusive reDuttal or the charges
| preferred against him, and though resgnlng his
| position treasurer came out with a clear and
spotless record. HIS honesty OF purpose and deal
| ing clearly ana fully established. We have
| already shown how LARGELY he was pecunary inter-