Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
His death came without any prior warning. He had been apparently in his
usual health during the day, and had dined with Mr. Darius Lawrence, of
Lawrence Brothers, brokers in Broad street, at the Grand Union Hotel, at
six o’clock in the evening. After dinner he returned to the house of his
son. About nine o’clock he complained of feeling ill, but refused to
permit anybody to sit up with him, saying he would call Mr. Lawrence,
who slept in an adjacent room, if he should feel worse. About ten
o’clock he went into Mr. Lawrence’s apartments and said he felt much
worse. Dr. Woodman, his family physician, was immediately summoned, but
before his arrival Mr. Drew had expired. The cause of his death was
apoplexy.
Among the numerous stories related of Uncle Daniel’s eccentricities, one
is noteworthy in relation to his habit of getting in a mellow mood when
prayer failed to soothe him, and covering himself up in bed after any
speculative disappointment. He was found in this condition one day at
the Sturtevant House, the year in which he died, by two Wall Street
acquaintances who called upon him, and were conversant with his peculiar
habits. He had all the windows closed, so that the atmosphere in the
room was stifling, and was enveloped in several pairs of double
blankets. His friends called for a bottle of champagne, of which he
refused to partake. When this was drunk they called for another, and
left it with him, believing that when he was left alone he might be
inclined to imbibe without any feeling of embarrassment.
Another story is related characteristic of Uncle Daniel’s methods of
making the best use of a secret, and any confidence that a person might
foolishly repose in him, in a speculative deal. During the war a young
man known as California Parker, who had more money than brains, began to
buy Erie in the vicinity of par, and put it up to 120. He went to Drew
and told him that he would let him in at fifteen per cent. below the
market, if he would only aid him with a little money to carry the price
higher. Mr. Drew blandly appeared to entertain the young millionaire’s
proposition favorably and Parker, on the strength of that, continued the
struggle until he had almost reached the end of his California gold. The
next morning when he met Drew the latter told him that he was unable to
raise the money, and appeared to be grieved at his disappointment. In
the meantime Drew had instructed his brokers to sell Erie “short,”
knowing that Parker was unable to absorb any more of that precious
paper, Erie stock. The market went down, Drew made a “scoop,” and Mr.
Parker retired from Wall Street a ruined, but a wiser man.
Public-domain text, read in full here on John Shaqi.
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