Daily Kennebec journal., 1879-09-30
NO. 235.
Miseellaneous.
DANIEL DREW.

Daniel Drew was born in Carmel, Put
nam county, y. Y, on July 30, 1897. lie
spent short time at the village school,
and got very slender education. For
time he did days work on farm, and
was once engaged in driving team OF
mules; but at the age of 16 he enlisted as
volunteer in the army, and served during
the second war with Great Britain as pri-
vate soldier. When peace was declared,
Daniel returned on foot to Carmel, and
with the little money he had saved, pur-
chased few head of cattle, which he
drove to New York and sold at a good
profit He continued to deal as cattle
speculator, gradually extending his busl-
ness, and always meeting with success
His purchases were made in the rich
grazing country around the head waters
Of the Croton, and his customers met HIM
at stated times at Il once celebrated cattle-
yard, on part OF which the Bowery
Theatre now stands. lie became the larg-
est dealer in the northern country, ana
leased the old Bulls Head Tavern at the
northwest corner of Third avenue and
Twenty fourth street, where he reigned
for some years as King of the Drovers.--
His career was one of uninterrupted pros
perity; and when, in 1885, Isaac Newton,
the Hudson river steamboat pioneer, cast
about for a partner, Drew came forward,
and the two established line Of steamers
between New York and Albany, in oppo-
siton to a line run by Cornelius, then PLAIN
Capt. Vanderbilt Vanderbilt was charg-
ing $500 fare from New York to Albany
At Drew's suggestion, five new boats were
added to Newton's line in rapid success
sion, and the fare was put down to one
dollar. Vanderbilt saw that in Daniel
Drew he had long-headed opponent to
deal with; so he proposed that the two
lines should be consolidated. His propo-
sition was accepted, and out of the COM
promise grew the well-known Peoples
Line" Of which Isaac Newton was the
first President and Daniel Drew the Treas
urer On the death of Newton, Drew be-
came President.
Having amassed large fortune, in 1886
Mr.. Drew entered the banking business,
and, four years later, established house
subsequently, well known-Drew, Robin
son & Co.-which was for many years one
of the most uniformly successful banking
houses in the city. Mr.. Drew was the
senior partner and controlling element in
it for thirteen years, and then retired tenn
porarily in the interest of his son-iA-law.
That gentleman death necessitated MIR.
Drew's resumption of his former place.
He was much taken with the pluck Of
James Fisk, and employed him to ,nego-
tiate the sale of his Bristol line Of steam-
ers. Fisk entered into combination with
Jay Gould and others, purchased two OF
the nine steamers for g $50, 600, and after
wards bought the remaining seven for
~ 900 900.
UNCLE Daniel was then the Treasurer of
the Erie Railway Company, a heavy stock
holder in that and other vast enterprises,
and in some respects one Of the most pow
erful and influential fnanciers in the coun-
try. Desiring to extend his area, and
having learned to appreciate Fisk's abili-
ties, he established the firm of Fisk Il Bel
den, which, favored by the advice and
substantial backing of the shrewd specu-
lator, made its mark in the money world.
With Fisk as an instrument, in 1866 Alr.
Drew made the great bear movement that
brought to grief scores of the leading oper-
| ators in stocks
As he grew older he seemed to have
f;tith i'm luck. He rarely invested in solid
stocks, but operated enormously in fancies.
His tondness for cliques and corners led
him into excesses of marginal develop
ment, the consequence of which was vol
untary bankruptcy in 1876. Many pre-
tended to have anticipated the ruin ofMr.
Drew but that was folly. All that was
known was that he had met heavy losses
and refused to accept a ..put'' which he
had sold and had turned against him.
Fortunately. soon after the death of his
partner. Robinson. Mr.. Drew transferred
a great deal ofhis property to his son; so
that he was still verv rich man, though
technically he owned nothing.
During all these years Mr.. Drew had
consistently kept up his interest in the
Methodist Church and always gave liber-
allS to its representatives. He was a
trustee in the Mulberry Street Church.
and also in church near his country
home. He built the edfice at cost of
$4,000. and cave it an income of $1,000
wear. He donated S25O. 900 to the Drew
Seminary in one sum, and continued his
benefactions later. He was a trustee,
patron and siver in the Wesleyan Uni
rersitv a trIIstee in the Concord Biblical
l., -. Iro:,,o-