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).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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