Daniel Drew

Capitalist, born in Carmel, New York, USA. He moved rapidly from a successful cattle-driving business (1829) to competing against Cornelius Vanderbilt (1834) in the steamboat business, to opening the brokerage firm of Drew, Robinson & Co on Wall Street (1844). A millionaire, he earned a reputation for being unscrupulous during the ‘Erie War’ with Cornelius Vanderbilt (1866–8) over control of the Erie Railroad and other stock, and bank deals which brought ruin to thousands. In 1870 his former associates turned against him, and the panic of 1873 furthered his decline. Bankrupt, he became dependent on his son during his last years.

Daniel Drew
Born	July 29, 1797 Carmel, New York
Died	September 18, 1879

Daniel Drew (July 29, 1797 – September 18, 1879) was an American financier.

In 1857, Drew became a member of the board of directors of the Erie Railroad and used his position to manipulate the firm's stock price.

In 1864, Drew once again struggled with Vanderbilt, speculating on the stock of the Harlem Railroad. Drew was selling the stock short, but Vanderbilt and his associates bought every share he sold, ultimately causing the stock price to rise from 90 to 285 in five months.

In 1866-1868, Drew engaged in the Erie War, in which Drew conspired along with James Fisk (financier) and Jay Gould to issue fraudulent stock to keep Vanderbilt from gaining control of the Erie Railroad.

In 1870, Fisk and Gould betrayed Drew, manipulating the stock price of the Erie Railroad and causing him to lose $1.5 million.

Drew, a devout Methodist, built churches in Carmel and Brewster, New York, contributed to the founding of Drew Theological Seminary in Madison, New Jersey, which is now part of Drew University, and Drew Seminary for Young Ladies in his home town of Carmel.