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LOT #36
DANIEL DREW (1797–1879) American financier. January 1860. 28 pp. 13 ½ x 19" Transfer book of the New York Central Railroad Company, “Transfer Agency at New York, Duncan, Sherman & Co., Transfer Agents.” Impressive and rich with names and hundreds of signatures of investors who had surrendered and transferred their shares with the large Banking company that employed the young J.P. Morgan and transacting business with the railroad that would shortly be owned by nemesis of Daniel Drew, Cornelius Vanderbilt. At the bottom of one of the many blue pages, Drew signs “D. Drew”. The details of this extraordinary partly printed manuscript book are too many to number. The page upon page of names and signatures of the many who had placed their funds with the newly burgeoning railroad just before a Civil War was about to strike our nation. Ripe for much more research. Just three years earlier, Drew was a member of the board of directors of the Erie Railroad and used his position to manipulate the firm’s stock price. His speculation in the New York Central is one of interest at this time. Between the two of them, Cornelius Vanderbilt and Daniel Drew would eventually own all of New York’s railroad infrastructure. A rare autograph in a spectacular document by the legendary short seller who came to be one of the richest men in America - bigger than Warren Buffett and Alan Greenspan combined back in his day! Daniel Drew would become an arch enemy of Vanderbilt, with his parabled speculation 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 precipitously. Drew lost $500,000. Later with Jay Gould and James Fisk, Cooke would defeat Vanderbilt for control of the railroads in the Erie Wars by manipulating stocks. In the end, Drew would be betrayed by his associates and he would die a destitute man. In Fine condition. |
$3,500. - up