Great Fortunes: Daniel Drew Part 2
Finding that Mr. Drew was not frightened off by his opposition, Commodore Vanderbilt urged him to withdraw from his attempt, telling him he knew nothing of the management of steamboats. Mr. Drew refused to be intimidated; however, and continued his efforts. Since then, there have been fifty attempts to run him off the river, but all alike have failed of success.
In 1836, the “Water Witch” was replaced by a fine steamer called the “Westchester,” which was subsequently run as a day boat to Hartford, Connecticut. The “Westchester” was run against the Hudson River Line, from New York to Albany. The Hudson River Line at that time owned the “De Witt Clinton,” the “North America,” and others—the finest steamboats then afloat—and it seemed at first foolhardiness for any one to attempt to oppose so popular a company. Mr. Drew and his partners bought the “Bright Emerald,” for which they gave twenty-six thousand dollars, and ran her as a night boat between New York and Albany, reducing the fare from three dollars to one dollar. During the season, they bought the “Rochester” for fifty thousand dollars, and also bought out the Hudson River Line, after which they restored the fare to three dollars.
Several years later, Isaac Newton, who was largely interested in the towing business of the Hudson, built two splendid passenger steamers called the “North America” and the “South America.” In 1840, Mr. Drew formed a partnership with Mr. Newton, and the celebrated “People’s Line” was organized, which purchased all the passenger steamers owned by Drew and Newton. Mr. Drew was the largest stockholder in this company, which, to-day, after a lapse of nearly thirty years, still owns the most magnificent and popular steamers in the world. Soon after its organization, the company built the “Isaac Newton,” the first of those floating palaces for which the Hudson is famed. Since then, it has built the “New World,” the “St. John,” the “Dean Richmond,” and the “Drew,” the last two of which cost over seven’ hundred thousand dollars each. Repeated efforts have been made to drive this line from the river, but it has been conducted so judiciously and energetically, that, for nearly thirty years, it has held the first place in the public favor.
In 1847, George Law and Daniel Drew formed a partnership, and established a line of steamers between New York and Stonington, for the purpose of connecting with the railroad from the latter place to Boston. The “Oregon” and the “Knickerbocker” were placed on the route, and the enterprise proved a success. Mr. Drew and Commodore Vanderbilt secured a sufficient amount of stock in the railroad to give them a controlling interest in it, and by the year 1850 the Stonington Steamboat Line was firmly established.
When the Hudson River Railroad was opened, in 1852, it was confidently expected that the steamboat trade on the river would be destroyed, and the friends and enemies of Mr. Drew alike declared that he might as well lay up his boats, as he would find it impossible to compete with the faster time of the railroad. He was not dismayed, however, for he was satisfied that the land route could not afford to carry freight and passengers as cheap as they could be transported by water. He knew that it would only be necessary to reduce his passenger and freight rates below those of the railroad, to continue in the enjoyment of his immense business, and his faith in the steady expansion of the trade of the city induced him to believe that the time was close at hand when railroad and steamers would all have as much as they could do to accommodate it. His views were well founded, and his hopes have been more than realized. The river trade has steadily increased, while the Hudson River Railroad is taxed to its utmost capacity to accommodate its immense traffic.
