New-York tribune., 1879-09-19
HIS BUSY CAREER.
epilepsy.

qncntly opened stock-yad. kept tavern, ana mad
fortune the steamboat business. shrewd and iiei
ate. reckless and tmd goodnaiurcd and Inscriptions
suIneiines generous ana always rcacEer"us ne mahe
fror five to fifteen millions ont of fricni aud zoe onS
io lose them all aud die - bankrupt II Hosartn could
have lived In Wall Street during the past forty years,
"Uncc Dan'." with scanned face aAd tNinkiing eyes.
win the steaithy tread OF a and the bland ar of
country deacon. would have been the central hsure III
| mis- cartoons.
Daniel Drew was born at Carmel, Putnam County.
y " July %, 1917. le three years younger tam
! the late Cornelius V,lderblt. and. Ike hnm. was a
farmers son. Ills faher of English descent; lis
mother had scotch blood In her veins The farm was
very small the homestead was very PLAN; tine ianiiN
never prospcr,d. There anotner child younger
brother TIE two boys went - school ire Suary during
tie Winter months, hut after their fathers death.
/ III 1872, the schoOl-house door closed uron
! thcm The family was LEFT in straiienci cir
! c1mstancls, and The older brother Resolved to
! sint for himself. lie was n tall, stliwart lad.
Older in looks than In Years. lie was in his sev-
eniecnth ycar-tLr NJ which Cornelius Wander
hlt borrowed 500 ct his mother. bought boat and
began 10 ferry markctmen from staten Island 70 the
Battery. Dmil Drew did not borrow hi- small capital.
be earned il by cniisilng sIb,titute ia ihe state
militia which had been called into service The red
mcnt was called 10 Fort Gans'yoort on Tie Hudson
RIVER opposite N.v-lork. About three months after
his enlistment ho.ullties ccas 4 between the Uncd
-ascs ana Great Britain. and the regiment was muatoIed
out.
/ A SUCCESSFUL CATTLE DEALER aND sTFAMnoATMAN.
! 81 want my substitute money. moiLcr" sald h ono
morning after n- return To the farm. Il am going 10
buy cattle ana -cli them in Ncv-Iork."
Are You sure you wfl not lose money bY r. Mrs.
Drew was as sa.ac.ous and cautious as the mother
whom Commodore Vanderbilt delighted TO noncr all his
lie long.
liam sure I shal m Ike money
lie did MAKO money from the start hui lie had -
work terribly orit. lie wai IA the saddle day ana
night, purchasing cattle Ia lutn'm and Dutchcss
Counties. and driving them 10 the e'iy aft'r
uigntla. lie an excellent judge oi cattle
and snrrud buyer. when MS competitors began
To multiply and TO cut down his profits D." enlarged lie
ncd or operations hy naiyng Oaio brs- Of supply lie
needed capital. and he had securities 10 offer for
loaua lie went to H,nsy Astor. John JACOB Astor'-
brot1or she Fulton Market butcher. who had recently
retired from business. I'll take the risk said iAc cap
iaIsi after the plan had been ufodcG. 1t seemed 10
be ioolhar,ly crac-biaincd scheme. II took nearly
sixv days 70 drive cattle from O.lo the Ale
ginny Mountains to New-Iork. ont Of IA drove OF
! 500 head, 200 800 would frequently be lost
on the way On the forests and mountain businesses
Cattle, however, exceedingly cheap IN the ONO
| valley and Drcw's profits were large that he was
able IN few years repay tie borrowed money and to
e.t.nd his operations 10 Kentucky ana Illinois. Ho Is
said have been thr first man 10 DIVE cattle over ihe
AleghanY Mountains. Tne perils and haIdslrs oi The
business were very great. Once he narrowly escaped
death during terrible thunder storm. TIE tree under
which lee had taken refuge sAivcrod ny thunder
bolt his horse kiiled, and lie himself was hurled
! scnsclcss from tile saddle.
! In 1879 Nh Drew made Scw-YorE his per" 'ncUt
place ~ residence and opened cattlcyard at im'i-
ave- aud Twcut ougth-st. The principal cattle ar in
The ely had been for years The Bowery, near tie prs
eut size oi the Bowcry Theatre. the yard Mas out
Of town. and there large wheat field close by.
Fifteen hundred cattle coul bc driven INTO tue yard
anI I'm the Balls Head Tavern tL,te were excellent
accommodations for drOycrs. Under Mr. preW's mau-
asement this public house became lie drover- head
quarters ana exchange. lie remained tEcro nine years
! aud accumulated n large fortune
IL 1884 Mr.. Drew went into the steamboat business,
In which his great rival, Commodore vanderbilt hah a-
| ready been engaged for seventeen years In lsl7-
ten years after the experimental trip of Robert Iuitons
little aptn Vanderbilt was AZ the wheel of
the p.Iloua pving between New-York and New-Bruns-
vick and in 1923 after serving long apprenticeship
IN the employ OF Thomas Gibbons he hal begun 70 build
STEAMBOATS, for himself MIR. Drew was ate on the river
Int his energy and shrewdness manifest He
besan with the steamboats, WestcheSter ana Emerald,
running between New-York and Albany in opposition 10
the Vanderbilt Line. He put down the fare from - To
81 and made a tremendous reduction Ia freshts. lie
added new steamboats, his line he bult the Knick'r
booker and bought the Oregon OF George Law the
Isaac Newton aud the New World came next compctl
ZION ran 80 high that passengers were carried between
the two cities for shilling; lac oyercame all opposition
| bv his SUPERIOR management. In 1910 Isaac Newton
Organized the Peoples Line. Mir. Drew being the
| largest stockhoder. The ST. Jonn, the Dean Rich
mond and the Drew were built; the limo pros
peled meeting with only two dsastcrs-tho
burning Of the Isaac Newton md the sinking OF
the New World. the Hudson River Railroad was
opened IN 1882 Mr. Drew refused to sell ont his stock
You can regulate your railroad fares as you choose
said lie 10 the president of the railroad company; "hu
The only way yOu regulate steamboat fares Is to
buv tne Peopc's Line and this don't believe you have
cot money enough 20 do" The opening OF the railroad
only served stimulate traffic and the steanboais car
red as many passengers and "a much freight as the)
! had before. Mr. Drew's steamboat operations were
NOT confined TO the Hudson River lie controlled the
stoungton Line Tor twenty-five years aud established
| a profitable line of steamboats, on Lake Champain
Mr. Drew entered Wall street in ls8i, ,fornnga copar-
nclship with his sOn-ulaw, Mr Kelly and Nelson lay
lor which lasted years The stoct-brohins ana
banking business o. the rm large and their crcit
during that stormy period Of rcvusons was very strong
After the dissolution Of the lr by the death OF LIS
mariners he became bOdcst and shrcwest operator
In Wall street The principal railroads with which ne was
connected were the and The Erie In the " iar-
| lem corner which Commodore Vanderbilt aud john
Tobln planned together 1863, he outWited Inc
STOCK which had been sold IN January AT 90 vas seed
for I'm June at 2s5 Mr. Drew Is SAID 10 nave suiirn- %
dered about hail million 10 the Commodore IN TINS
corner lie had his In the Erie contest
| THE vASDKRBuT-DREw FIGHT OVER ERIE
Mr. Drews connection with the Erie Railway began In
1s53 and subsequently, hc became director and treas
rrer He was good friend Of the road IN time OF need
once he guaranteed its paper for Sl5OOOOO, and IN
1877 he saved II from bankruptcy. But he was also
GOOD friend to himself His hduc,ary position enabled
him TO manipulate tho stock, and he made 1t the loot
hall OF the street lie the nrst great type oi the
| speculative director. "a, MI.
In the Spring OF 1865 Erie was selling at 1;, s9 me
| treasury was empty, and Mr.. Drew was unwlling 10
! aova,ce any money without security. About xeOOO
share OF stock which had been Issued and bonds
for 600 0Oo secretly placed In his hanos as So
curtty for a loan OF So 100000 The company claimed
the gnt OF Issuing bonds convertible at The option OF
| he holder into stock. The Treasurer was short OF
the STOCK and An the OF rising market was max.
L. ~ ~ Tracts for the delivery OF Erie NJ current