The Northern Pacific farmer. [volume] (Wadena, Minn.) 1878-1885, 1879-10-23
DEATH OF DANIEL DREW.
The Story Of His Life

Daniel Drew, who, for forty years was
one OF the most prominent figures in
Wall street, and the prime cause of many
= financial CONFUSION, died on Thursday
1T the house of his son, at No. 3 East
Forty-second street, in a very sudden
manner. The old man had been in his
usual health apparently during the early
part of the evening. He had oined with
Darius Lawrence, Of the firm of Lawrence
Brothers, Broad street brokers, in the
Grand Union Hotel, and made no COM
plant until 9 P. NJ, when he said that he
did not feel quite well. He refused to
permit any one to set up with him and
retired to his room; but at 10 is p. N. he
arose and said that he was suffering from
i pain over his heart similar to that
which his mother experienced just before
her death. A moment later his head
sank upon his breast and he was dead,
the cause being either epilepsy or heart.
disease.
Daniel DreW---Uncle Dan1 as he was
almost universally known in latter days
was born at Carmel, Putnam county,
N. Y, On the goth Of July, 1897, and was
therefore in his eighty-third year. He
was farmers son, and Scottish and
English blood was mingled in his veins.
In 1912 his father died, leaving his moth
e1 with two children, himself and
younger brother, in straitened clrcum-
stances. Daniel was then in his seven
tenth year and began life by enllsting as
substitute in the state militia. He
went with his regiment to Fort Ganse--
Soort, but in three months peace was pro
claimed, and he was mustered out of the
service. With his substitute money he
engaged IN cattle trade He bought cat
tie IN Putnam and Duchess counties and
drove them into the city after nightfall.
He was an excellent judge Of cattle and
tireless worker, and made money from the
start. But his restless energy was not
satisfied with this small sphere of action.
He conceived the idea of bringing cattle
from Ohio-an apparently wild scheme
in those days-and succeeded in Undue
ing Henry Astor, the butcher, brother of
John Jacob Astor, to advance him the
necessary capital. The profits were so
great that Drew was soon able to repay
the borrowed money and extend his oper-
atoms to Kentucky and Illinois. Once
when he was driving cattle across the
Allegheny Mountains his horse was kill
ed by lightning and he himself was hurl-
ed senseless to the ground. In 1929 Mr..
Drew opened cattle yard at Third aven-
lie and Twenty-fourth street, and the
''Bull's Head Tavern" became the head
quarters Of the drovcrs. In nine years
Mr.. Drew accumulated q large fortune.
1t was in 1894 that Drew first pitted
himself as an opponent to Commodore
Vanderbilt in the steamboat business, by
running the Westchester and Emerald
between New York and Albany. He re-
duced the passenger fare from So to 81
and made a corresponding reduction in
freight rates. He built new boats, and
the competition between him and his RI
val ran SO high that passengers were car
ried for a shilling, but his energetic and
skillful management Won the day at last.
In 1910 the well-known Peoples Line OF
steamers was organized, and Mr.. Drew
was the largest stakeholder. When the
Hudson Railroad was opened in 1852 he
refused to sell his stock, and the result
fully proved the shrewdness of his judy
mcnt. Traffic was stimulated by the
railroad, and the steamers carried as
many passengers and as much freight as
before.
In 1914 Mr.. Drew entered Wall street
in partnership with his son.in-law, Mr..
Kelley, and Nelson Taylor. Ten years
later both his partners were dead, and it
was then that Uncle Danl became known
as ore of the boldest and shrewdest
operators in Wall street. He was es-
pecially interested in Harlem and Erie
stock, and it was in connection with
these that he fought his battles with bis
great rival, Vanderbilt. In the famous
''Harlem corner" hs got the worst of it
and was compelled to pay nearly half
million of dollars into Vanderbllt's pock-
cts, but he had his revenge for this later
on in the great Erie contest.