Great Fortunes, and How They Were Made

by James Dabney McCabe

[II. CAPITALISTS.]

[CHAPTER IX.]

CORNELIUS VANDERBILT.

Staten Island seventy-six years ago—The establishment of the Staten Island ferry—Birth of Cornelius Vanderbilt—His boyhood—Defective education—A famous rider—His early reputation for firmness—Superintends the removal of a ship's cargo at the age of twelve—How he pawned a horse—Becomes a boatman—How he bought his boat—A disastrous voyage—His life as a boatman—His economy and industry—Earns three thousand dollars—The alarm at Fort Richmond—Vanderbilt's perilous voyage for aid for the forts—His marriage—His first contract—How he supplied the harbor defenses—Builds his first schooner—His winter voyages—Becomes a steamboat captain—His foresight—Leases the hotel at New Brunswick—The dangers of navigating the New York waters—The steamboat war—How Captain Vanderbilt eluded the sheriff—Becomes manager of the steamboat line—Declines an increase of salary—Only wants to carry his point—Refuses to buy Mr. Gibbons's interest in the steamboat company, and builds his own boat—Narrow escape from ruin—Final triumph—Systematic management of his vessels—How he ruined the "Collins Line"—The "North Star"—Becomes a railroad director—How he foiled a plan to ruin him—dishonest legislature—Vanderbilt's triumph—His gift to the Government—His office in New York—Vanderbilt in business hours—Personal characteristics—Love for horses—His family.

[CHAPTER X.]

DANIEL DREW.

Birth-place—Birth and parentage—A farmer's boy—Goes to New York to seek his fortune—Becomes a cattle drover—Leases the Bull's Head Tavern—His energy and success in his business—Brings the first western cattle to New York—Helps a friend to build a steamboat—The fight with Vanderbilt—Drew buys out his friend, and becomes a steamboat owner—Vanderbilt endeavors to discourage him—He perseveres—His success—Formation of the "People's Line" on the Hudson River—The floating palaces—Forms a partnership with George Law, and establishes the Stonington line—Opening of the Hudson River Railway—Drew's foresight—Room enough for the locomotive and the steamboat—Buys out the Champlain Company—Causes of his success as a steamboat manager—Becomes a banker—His success in Wall Street—Indorses the acceptances of the Erie Railway Company—His courage and calmness in the panic of 1857—He saves "Erie" from ruin—Elected a director of the Erie Road—Is made Treasurer—His interest in the road—His operations in Wall Street—His farm in Putnam County—Joins the Methodist Church—His liberality—Builds a church in New York—Founds the Drew Theological Seminary—Estimate of his wealth—His family—Personal appearance.

[CHAPTER XI.]

JAMES B. EADS.

Birth—Childhood—Fondness for machinery—Early mechanical skill—Constructs a steam engine at the age of nine years—His work-shop—Death of his father—Works his way to St. Louis—Sells apples on the streets—Finds employment and a friend—Efforts to improve—Becomes a clerk on a Mississippi steamer—Undertakes the recovery of wrecked steamboats—Success of his undertaking—Offers to remove the obstacles to the navigation of the Mississippi—Failure of his health—Retires from business—Breaking out of the war—Summoned to Washington—His plan for the defense of the western rivers—Associated with Captain Rodgers in the purchase of gunboats—His first contract with the Government—Undertakes to build seven ironclads in sixty-five days—Magnitude of the undertaking—His promptness—Builds other gunboats during the war—The gunboat fleet at Forts Henry and Donelson the private property of Mr. Eads—Excellence of the vessels built by him—A model contractor—Residence in St. Louis.