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Drew, Daniel

Drew, Daniel

Drew, Daniel, 1797-1879, American railroad speculator, b. Carmel, N.Y. He became a cattle dealer in early life and by 1834 was successful enough to engage in the steamboat business on the Hudson, which he developed rapidly. In 1844, Drew entered Wall St., where he founded the firm of Drew, Robinson & Company. After its dissolution a decade later, he became an independent operator and was bold and scheming in pursuing his goals. In 1857 he forced his way into becoming a director of the Erie RR. During the famous "Erie War" (1866-68), Drew manipulated Erie stock so that he and his allies Jay Gould and James Fisk defeated the attempt of Cornelius Vanderbilt to gain control. Sometime later, however, Drew was financially outsmarted by Gould and Fisk. This was the beginning of his downfall, which ultimately led to his complete financial ruin in the Panic of 1873. By 1876 he was bankrupt. In his heyday Drew, a Methodist, contributed to the establishment of several churches, as well as Drew Theological Seminary (now part of Drew Univ.) and Drew Seminary (for girls) at Carmel.

See C. F. Adams and H. Adams, Chapters of Erie (1871, repr. 1967); B. White, The Book of Daniel Drew (1910, repr. 1973).

(born July 29, 1797, Carmel, N.Y., U.S.—died Sept. 18, 1879, New York, N.Y.) U.S. railway financier. In 1844 he founded the Wall Street brokerage firm of Drew, Robinson, and Co., which became one of the principal traders in railroad stocks in the U.S. The “Erie War” of 1866–68, in which Drew joined Jay Gould and James Fisk against Cornelius Vanderbilt in a struggle for control of the Erie Railroad Co., eventually led to his ruin, and he filed for bankruptcy in 1876.

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Drew Daniel may refer to:

  • Matmos band member Drew Daniel
  • Andrew Daniel, winner of the television series Big Brother (USA season 5)

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