Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-19
DEATH OF DANIEL DREW.
The Story Of Els Life.

one OF the most prominent figures in
Wall street, and the prime cause of many
financial convulsion, died on Thursday
at the house of his son, at No. 3 East
Forty second street, in a very sudden
manner. The old M an had been in his
usual health apparen thy 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 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 rs p N. he
arose and said that he was suffering from
a 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 DreIv--Unclc Dan'l as he was
almost universally known in latter days
was born at Carmel, Putnam county,
n. y, on the goth Of ly,1797, and was
therefore in his cighty-third year. He
was farmers son, and Scottish and
English blood was mingled in his veins.
In 1879 his father died, leaving his moth
cl with two children, himself and a
younger brother, in straitened clrcum-
stances. Daniel was then in his seven
teenth year and began life by enl1sting as
Il substitute in the state militia He
went with his regiment to Fort Ganse--
WORT, but in three months peace was pro
claimed, and he was mustered out of the
l.
engaged III 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
tlrelcss 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
ID those days-and succeeded in Undue
ing Henry Astor, the butcher, brother of
John Jacob Aston, 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-
atlons 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 scnselCss to TIL ground. In 1929 Mr..
Drew opened cat'.c yard at Third aven-
lie and Twenty-tuurth street, and the
"Bull's Head TaveIn' became the head
quarters of the drovcrs. In nine wears
MIR. Drew accumulated a large fortune.
1t was in 1884 that Drew first pitted
himself as an opponent to Commodore
Vanderbilt in the steamboat business. by
running the Westminster and Emerald
between New York and Albany. He re-
duCcd the passenger fare from So to 81
and made 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
sklllful management Won the dav at last.
In 1910 the wcll-known Peoples Line OF
steamers was organized, and Mr.. Drew
was the largest stockholdcr When the
Hudson Railroad was opened in 1852 he
refused to sell his stock, and the result
fully proved the Shire Hdncss of his judg-
mcnt. Traffic was stimulated by the
rallroad 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. law, Mr.
Kelley, and Nelson Taylor. Ten years
later both his partners were dead, and it
was then that Uncle Danl became known
as one of the boldcst and shrewdest
operators in Wall street. He was es-
peclally 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,' he got the worst of il
and was compelled to pay nearly half q
million of dollars into Vanderb1lt's pock
cts, but he had his revenge for this later
on in the great Erie contest
When the Vanderbilt party had OBJ
tanned control of the Hudson River, Cen.
trai and Harlem lines there remained the
Erie road to be overcome. They bought
heavily Of Erie stock in the market, anC
were apparently on the verge OF gaining
their point, when 'ur. Drew made an ex
traordinary issue of stock, and Mr.. Van
dcrbllt was left to sustain the market a:
he could. Then followed the fierce bat
tie III the courts, in which injunctious an6
amuses followed each other in such Quick
succession that it was almost impossible
to tell Just what the position of affairs
was. Then came another heavy issue o
stock, and Judge Barnard ordered TIN
arrest OF the directors of the Erie Railway
for contempt ofcourt Mr.. Drew fled tt
Jersey City, with six millions of dollars il
notes Of which three and half million
We're paid into the Erie treasury. The1
the battle IN the courts was renewed, ant
in the midst Of it a body of fifty mel
crossed the Pavonia Ferry and toot
possession OF the Erie depot. The cry wa
raised that Commodore Vanderbilt wa:
endeavoring to kidnap Mr.. Drew, grea
excitement prevailed. The men employ
ed by the railroad were organized into ;
military guard, and Taylor's Hotel j,
Jersey City looked like generals head
quarters in war time. In the mean tim
Mr.. Drew began to grow weary of hi
Punishment. He knew that he was mis-
trusted, and he mist:ustcd his own allies
He determined to effect a compromise
One Sunday morning he crossed the riv
er and held a conference with Commo
dore Vanderbilt, and the result was {
settlement. Commodore Van lerbllt wa
relieved of his $4,000 shares of Erie
MIR. Drew settled his accounts as treas
urer OF the Erle and obtained a release il
tut, the Eldrldge party received $4,000,
OOO OF Erie acceptance in lieu of SIS. OOO,
600 OF Boston, Hartford and Erie bonds
and Fisk and Gould were left in undis
puted possession Of the Erie Railway
About $9,000,00O was drawn from tn,
Erie treasury in the course of this settle
ment.
NOtwithStan1inr tho ,rooool;