New-York tribune., 1896-06-05
AUSTIN CORBIN KILLED.


Continued from First Page.
under the act and although long distance from
Washington his application was among the hrst 10
reach that city. on June %. 1868. the FIRST Ma
tlona Bank of Davenport with Mr. Corpih as ts
president threw open its doors for business anu
was not only the first National bank OF DaVcipo'',
but in point OF fact the first one in the Cni,eu
States the second being the First National OF fha-
delphia. which began on July J.
The bank prospered that its shares soon co'-
manded a large premium. but still Mr. Corpn was
not satisfied His business Of lending money on on
Iowa farms had so grown that farmers In nearly an
the Western States and Territories were borrowers
These reasons and the possibilities OF greatly
charging m business nnys a. areSes &c and in 1855 he
to this city which since had been lis onera
and the HEADQUARTERS of the most successfui opera
Soon after his arrival in New-York he was con-
dncting a large business in banking and the nego-
Nebraska Kansas. the Territories OF Dakota Mop,
OF the West and South. The outcome Of this large
business was the formation Of the Corbin Banklng
IhHH'RBen9{ the RBea9. }" '''' 0' ""''" MI '' '''' -
HIS RAILWAY WORK
Up to this time Mr. Corbn had confined his inan-
cial operations principally to real estate transac-
tons but he now had the opportunity which al MS
mental forces seemed particularly to quaify MIN 10
meet He assigned to the duty or reorsahiA-
ing the Indiana. Bloomington and Western Kaii-
road in the interest the bondhoders OF all classes
This was at first much against his inclination put
he quickly showed his instructive adaptabilty TO all
manner Of affairs matter how unfamllar 70
him, and soon acquired wonderful mastery OF al
5es f'As N th5 FH"s ss in oh
giving to every detail his personal attention devei-
5pel an executive ability and capacity for Work
In lssJ r. turned his attention 10 the Long Island
Railroad and, after having purchaser iarge Nun,
Der OF rs shares became It's receiver ana prsslueI.
of the company on January !. ISL Al this time
the Long Island Railroad was commonly spoEen, OF
right Of way" II bankrupt, had heavy re-
ceivors debt and It's revenue was greatly below lts
suited In paying the debts reconstructing the road
way ani bringing the company to high state .S OF
atrrri attractions Of coney Island Manhattan Beach
Rockaway Beach Long Beach and otner resorts s., On
excellent condition and It's traffic 70 a prontaDe
basis Within eight months he had j., dcnsTged the
Having revealed himself as one OF ne mos prac-
he s'b beam. s prornineniy dened Win the eorgan
zation OF the Philadelphia ana Reading kallroaa
snPaH 5 an Jnne Hmu Y "a lss S The Reading road With
| property representing cost Of some s.y2gHVn'
| and with some thirty-fve thousand employees upon
| its payroll. had been hounderng around In bank
Various powerful syndicates had struggled TO obtain
control OF H. and lawyers had rcapei large fees by
| on concerning It. Suddenly there came whispers
OF sett!emen, Of these conflicting interests. and
while men were wondering what truth there was In
these rumors. railway and financial circles, were were
| agreed upon and that Mr corb!n had been induced
70 accept the presidency OF the company. Then a
| plan Of reorganization acceptable 10 the two most
| powerful interests was formulated and made public.
Mr.. GOwen. the president. resigned. and Mr.. Coron
| al once plunged into active work IN this under
taking, which was probably the most stipend Gus
one he ever assumed in this as in his previous
A. the time OF his death Mr., C2rbin was presl-
lani and Northern Railroad, the Manhattan Beach
Company. the Manhattan Beach Hotel and Land Ian
way Company. and director Of the American Ex-
change National Bank the Wes,ern Inon T,e Iee-
haitian Beach Railway Company. the Nassau Fire
Insurance Company andfhe Mercantile Trust Com
Mr Corblns country place at Babylon. Long
Island. ard ne had an extensive estate at Ntwporr'
took great interest. His city home was at No. i2'
Sir Gorbin always took the lveliest interest in
! the development OF Long Island His pet plan was
the establishment OF a great free port at For,
| M0ntauk Point. It Was mis- idea to have all Euro
pean steamers. particularly the fast mail and pas,
| senee- steamers end their westward voyages at
| this point, whence mails and passengers and yaIua
road lines to this city and the West The Other
| end OF the route was TO be MelforJ Haven. IL
| Wales Mr. Corbn figured ,ha; by this plan a.
least a dav would be saved in the transportation o.
| goods 70 Western points. and certain dangers II
| % time endeavored 70 have legislation passed by
Congress altering the existing laws and allowinl
ne entry OF goods into the port. His attempts II
! this direction failed. however. and no materia
| progress was ever made, although the scheme me
'he aDoroval OF a large number Of wel!-informe'
| people
| In this. as in everything else he undertook. n
| was enthusiastic. ana he frequently contributed 4
| the leading magazines articles bearing on the sub
| feet. AMI wrote and published number Of pam
phlets designed to Illustrate the advantages whicl
| would accrue - ocean travellers well as 10 III
| commerce " bJth hemispheres by the adoption o
what nA considered only utiOl or the problem
| ~ rapid transit across the Atlantic.
| Another OF Mr. COrbn's plans system o
| underground roads connecting Brooklyn, New lOrl
| ana Jersey. The idea was to buNd under the Eas
| !n terminus Of the Long Island road with tn
| Pcnrs sylvania road In Jersey city There 10 b
| branches 20 the Battery. NcwlOrk. This was bu
| "A further development OF the scheme 10 cOnsolidat
| Island The plan OF underground road went as IA
| as the organization Ol c0mDanes-the New-Y ork
| NcE-Iersey and Eastern IN this State and the New
| York and New-Jersey Underground Railway Com
| these TWO comuanies were consolidated into tn
| Brooklyn. NewYork and Jersey city Terminal Rail
| road company.
In 1853 ne married Hannah NJ. Wheeler. Gaughte
| birthplace They had four children. The eldes
| Mary. married to Rene cherOnnet Champollior
| the grandson OF the great Egyptian scholar. Sh
died In Paris on June s. 1872 Her husband had pre-
are the only male desc cendant OF Champoon. II
Il being educated IN this country. Mr.. COrbn
other children arc Isabella. the wife OF George
Edgell. Anna Austin and Austin Corbin. Jr. Nj
Lawyers. Scawanhlka Corinthian Yacht Meadow
brook Hunt AMI South Side Sportsmen's Clubs, an
! Of the Somerset club. Of Boston.