The Grant County herald. (Big Stone City, Grant County, Dakota [S.D.]) 1879-1883, 1879-10-25

as poor as he entered it.
WALL STREET "REMINISCENCES.
The death OF Daniel Drew was very
generally discussed in Wall street on
Saturday, especially by the older men.
and many were the anecdotes related
about his connection with stock specula-
ton. At that time he began business
with William st John, at No. 65 Wall
street, under the firm name Of St John g.
Drew. The principal business Of the
firm at first was deallag in uncurrent
money, which they were able to buy at
discount Of two or three per centum.
nifty to sell came In this business hc
had an opportunity which other dealers
did not enjoy, as he was largely patron
ized by cattle dealers with whom he had
formed an acquaintance when he con
trollcd the Bulls Head Hotel. These
mon would accumulate considerable un-
current money in their wandcrings,
which Drew would purchase, and he
generally did 50, it is said, 50 as to make
q very fair profit on the Transaction
In fact, it is said that Mr. Drew began
the business of speculating several years
before he went INTO Wall street About
tic year 1890 he became the proprietor
of the Bulls Head Hotel, which was pat
romzed almost exclusively bv cattle drov-
ers whose business was to drive cattle
from the western part pf the state to this
market. From the ti1he he was sixteen
or seventeen years old Drew had been in
this business himself and now entertained
many OF his former associates as his
guests. While he was proprietor Of the
Bulls Head he began his career as 4
broker buying up the claims Of the drov-
ers, who, to avoid the delay and expense
of week 5 soourn in the city before
they could collect their bills, were glad
t. sell them at a small discount.
One old broker on the street to day re.
lated an anecdote which shows the charac-
ter men uad to deal with in Daniel Drew
1t was when he wasa director in the Erie
Railway Company, and the Atlantic and
Great Western Company was seeking by
all means to sell out to Erie Sir Morton
Peto-who was one Of the directors OF
the Atlantic and Great Western Road ~
had made a speech before the Erie ,iirec-
tors, urging upon them the necessity Of
purchasing this western connection, and
grew 50 warm that. ie.arc .atorially de-
manded that tho purchase should be
made. Mr.. Drew had been sitting near
the table. with his head resting on his
cane. After waiting moment to see if
any OF the other directors spoke, hearose
and said III his peculiar yernaeular
Mr.. Chairman, | think ii about time this
meeting adjourned. | didn't come here
to be dictated 70 by Sir Morton Peto nor
no other sir. | move this meeting stands
sine die, and the motion was
carried.
Mr.. Drew was spoken Of by every one
with whom the reporter spoke this morn
ing as a liberal hearted man, and one
who was very generous to poor man or
one III misfortune. It was said that one
Of his nelghbors executed a mortgage
on his tarm in DreW's favor Misfortunes
overlook him and he was unable to meet
the interest, but sUncic Daniel never
pressed him. He WAS always ready for a
contest with any one well provided with
this worlds goods, and was never happier
than when he succeeded IN getting the
best OF a speculation.
daniel Drew never kept any books Of
his business. In fact, his early education
had not fitted him for it, but he carried all
his figures in his head, and his accounts
were always kept very straight. One
time, however, he disputed a note. He
was then doing his business through the
Manhattan Company Bank. A note for
$23, 900 was received through another
bank tor collection. The funds IN the
Manhattan Company bank to Mr..
Drew's credit lacked small amount
OF tins sum. He was requested to call at
the bank, and when he did so was shown
the note. He said the signature was not
hls, "lle never gave no such note. A
which the note was received. and the man
who presented the note was found. The
messenger returned to the bank with
this man, who said to Drew. Don't you
recolect, Mr.. Drew, you gave me that
note for some gas shares s. "Oh, yes, SO
did, said Drew, who had IN the mean
while declared to the bank officers that
the only note he had out was one given
to Methodist friend Of his for some gas
stock.
II was said that Daniel Drew was con-
yertcd and became a member of the
Methodist Church Early in life gen
t'eman who was intimately associated
with him IN business tolefthe reporter Of
the Ecening Post than Daniel Drew was
about forty years ago under
the preaching Of Elder Knapp.
Cautious Lightning Strikes Mule.
From the Dallas. Texas, Commercial
during the storm on Wednesday even
In, /,