New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-08
W. c. ANDREWS'S BUSINESS CAREER.
HAD OVERCOME MANY DIFFICULTIES IN
UIS PATH TO SUCCESS.


The career OF Wallace G. Andrews was rather
stormy one. for business man: but his indomita-
BILE energy made II a successful career IN spite Oh
much opposition and the disadvantage or small
capital to start with. Born In Vienna, onlo' III
1893 he was OF New England descent. being n son
OF the late Norman Andrews. who moved from
Connecticut to a farm in the Western Reserve IN
Ohio in 1916 The lad began life on his father 4
farm but early in his career showed "A talent FOR
large business schemes. BY strict economy 10
saved a small capital and in the early days OF the
coal discoveries In the Mahoning Valley he ana MS
brother. the late Chauncey II. Andrews. OF Youngs-
town. Ohio began investing In and developing coal
mines They met little success at first. but later
made valuable discoveries and during the petrole-
um excitement few years later they became OPP
orators In that industry.
They bought several coal mining companies built
furnaces and rolling mills. and small railroads. and
finally became the principal stockholders in rail-
road between Cleveland and Pttsburg. The coal
mines were afterward sold at advance.
Mr.. Andrews and his brother were among the
promoters Of the original Standard OIL Company
and Wallace c. Andrews director os that
company for several years prior TO the formation
OF the Trust.
With other capitalists Mr.. Andrews and his
brother bought a large OF coai land in the
Hooking Valley, and later became Interested In the
purchase OF the Hooking Valley Railroad and its
connecting lines. Mr. Andrewss operations were
usually profitable. and he soon amassed fortune
His schemes generally started on compare
lively small capital and after he had made them
successful he often sold out HIS interest
Mr. Andrews first engaged in business in New
York in 1873 He came to this city with the idea of
building big plant for the purpose of supplying
steam for power and heat to the large office and
manufacturing buildings. This plan had first been
tried in Loclport. \. Y. General Francis b. Spinoa
had also conceived the idea OF supplying steam to
large buildings. and had obtained n franchise for
laying the pipes in the streets He and Mr.. An
drews Joined forces and the Steam Heating and
Power Company was formed. Others who in
terested In the company were Jabcz A. Bostwck
and Hawley d. Clapp. who then the proprietor
OF the Rossmore Hotel, at Broadway and Forty
second-st.. the present site Of the Hotel Metro
pole
The affairs OF the original steam company did not
run smoothly. and Mr. Andrews obtained a new
franchise In 1881 and formed rival company
under the name of the New-York Steam Company
lie still retained his interest in the old company
After few months the company absorbed the
Ola company many Of the old stockholders drop
ping out Mr. Andrews remained at the head OF the
new company from the time II was formed al
officers and stockhoiders '''"S ''' o''e'
T., Besides the steam company. Mr.. Andrews was
Interested IN several other enterprises in this city
ana ms many interests kept him In almost con-
with the directors Of the Standard Gas Iisht CON-
Pany or which he was president for several years
Laws aDpOiuted
1870 TO discover a method for protecting citizens
against gas and subway explosions called him az a
witness He declared that the mains OF his com
pany We're safe, and appeared to attash little i'm
portance to the committee or It's work. Mr. An
drews was heard of again the next year when
Marshall +. Stafford "A lawyer brought suit
against him. as director OF the defunct American
Loan and Trust Company to recover 81 800 held rs
deposit from the State Bank Of Rock Valley Iowa
This suit dragged along for several years and was
finally lost sight OF.
A legal fight was begun against Mr.. Andrews in
November, 1881 by the new Board OF Directors OF
the Standard Gas Light Company Mr. Andrews
had only short time before resigned as president
or the company. He was accused OF illegally issu-
Through the Superior Court the directors obtained
an Injunction restraining Mr.. Andrews from selling
or dsposing OF certain stock In his possession AT
a conference which followed Mr.. Andrews agreed
TO pay s15oo000 OF stock but his offer was rejected
and later he retreated from his position and paid
back 100000 in stock. On the day OF this trangac-
drop the latter company had to be reorganized
Then the gas light suit against Mr.. Andrews was |
a bandoned.
At a stormy meeting of the gas light company IN |
and demanded his resignation as director Mr. An |
drews declined 10 resign. Ex-Judge 4. B. SchoO- |
necker tried to strike Mr.. Andrews with n walking
stick. Other directors prevented fight and the |
trouble was afterward settled by arbitration.
The use Of soft coal by the steam company got |
Mr.. Andrews in conflict with the authorities in |
1884: The smoke from the soft coal declared /
TO be nuisance. 4 warrant issued for Mr. |
AndreWss arrest. but II never served
Mr. Andrew was director in the Safety Car
Heating Company the Standard Coupler Company
pany.
Mrs. Andrews a sister Of Gamalel c. St
John They were married twenty years ago. They |
had children Mr.. Andrews was an uncle Of
Mrs. Edith Andrews Logan. wife OF Major John A.
Logan, and OF Mrs. Julia Bruce wife OF Leslie c.
Bruce. OF "Ths Turf. Field and Farm" OF New