Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1886-01-21

street as late as 1875, and anyone meeting
him for the first time would have taken him
for anything else than q millionaire and a
reckless dealer In immense blocks of stocks,
and an engineer OF deals that in his time were
the greatest In the street Daniel Drew is
said to have kept no books with his brokers,
simply trusting to his head, and their word,
and he very seldom made any mistakes and
never any plumbers, with ordinary operators
would be liable to under such circumstances.
In the celebrated Erie war; Daniel Drew took
prominent part and was chased by sheriff's
and haunted by injunctions until he took ref
nge in Nassau Street loft, and was guarded
by few friends until the immediate danger
passed away. Jim Fisk hrst appeared in Wall
Street as the assistant OF Daniel Drew, but the
partnership didn't last great while, and Fisk
Joined hands with Jay Gould instead. Drew
was a class leader, IN exhorter, and a devout
member OF the Methodist church, yet he had
few friends and possessed none of the magnet
ic influence which brought friends to Fisk. He
was bull one day, and a bear next, just as
tine notion suited him, and so his friends OF
one day were his opponents the day after. He
gave away very large sums In charities, espec-
tally to religious organizations, and the Meth
odists. 1t Is related of him that at one time
the trustees Of his church wishing to finish
mission chapel, one Of them turned to him
with the remark, Brother Drew / put 1t to
your conscience. Don't you see your way
clear to give Us ten thousand dollarsp Daniel
promptly replied, "No, do not" and there
the matter ended, inasmuch us Drew was very
peculiar in his method of making donations,
and chose his own way Of spending his money
in this direction. lie seldom gave away less
than one hundred thousand dollars year in
this way. Drew made great deal Of his mon
cy out OF the same business that enriched
Commodore Vanderbilt, namely, the
navigation of the Hudson river, and
many and bitter were the fights between
the old Commodore and Drew in
this line. In 1910, Drew formed partnership
with Isaac Newton, the then steamship king
of the new world, and from that time he ran
successful line of steamers against all com
petitors, Vanderbilt included. When the Hud-
son River railroad was opened in 1852 Drew
reduced the fare from Albany to New York to
one dollar, while the road charged three. The
president Of the railroad urged Drew to put up
his rates. "Our company makes money enough
at one dollar, but you can regulate the fare in
Que way, by buying out our line Of steamers,
that is, If you have money enough" was
Drcw's answer. lie insured his own steamers
laying by sum for that purpose, and claimed
that he saved over fifty per cent by so doing,
although at one time he paid out about three
thousand dollars for the loss of the Dean Rich
moud, one Of his boats, and II was remarkable
that he paid every shipper and passenger the
amount they claimed and that there was not
single law suit in the settlement Of the dam
ages The rivalry between Drew and Wander
bilt finally subsidized in so far that in any great
enterprise where money was needed, Wander
bilt furnished one-half and Drew the other
and for years this plan was kept up, neither
betraying the other in any transaction of this
nature. Drew finally broke with Vanderbilt on
one occasion, however, and went into the
street TO do little flnanciering to the damage
of the Commodore and to the advancement OF
Drew. Vanderbilt instantly went into tbs
street, threw his money and his will into the
struggle, tied everything up produced panic,
and made his enemies, Drew included, suffer
enormous losses. Drew never tried the plan
again, as in those days it took lar less capital
to tie up stocks than at present, and Wander.
bilt could do 1t with his individual wealth II
he wished at any time, and was consequently
not good man to fool with. In the proceed
ings which were instituted against Drew in the
| Erie matter, and which forced him to hide fol-
weeks, Vanderbilt took no part, though he had
suffered enormous losses in the matter. Drew
! endowed many religious institutions. and bull
among other churches the elegant marble
church of 81. Pauls on Fourth Avenue in thi
city, which in itself cost q small fortune. Blu
| in spite of all his millions, and all his shrewd
ness, Daniel Drew died worth less than hi
debts, and passed away beggared wreck
leaving nothing to his family, and his son be
came an employe of the fine line Of steamer
his father had originated and carried througl
TO success. Commodore Vanderbilt, his oil
time rival, passed away within few weeks
leaving a hundred millions behind him. Dre'
was rash speculator, and Vanderbilt care
full follower out Of matured plans, except whel
he got angry and entered the street for re
venge, and then he scattered his money a
rashly as Drew ever did, but with better rC
suit
The man who ought to have made the mo:
money out Of the navigation of the Hudson
was Robert Fulton, but he didn't, and II n