Daniel Drew (1797-1879) was one of America's sensational stock manipulators, speculating particularly in Erie Railroad securities.

Born July 29, 1797, at Carmel, N.Y., Daniel Drew Grew up on the family farm. His career began as a cattle drover and horse trader: he drove cattle from the countryside into New York City. Successful, he extended activity into Ohio and Illinois, bringing livestock back to his own New York stockyard.

Drew was said to have watered his beeves heavily before bringing them to market, thus increasing their weight (hence the origin of the term "stock-watering" in connection with the issuance of fraudulent corporate securities). By 1834 he was a New York City resident, operating steamboats on the Hudson River, Lake Champlain, and long Island Sound. A bold competitor, he made money and in 1844 set up the Wall street brokerage firm of Drew, Robinson and Company.

In 1853 Drew entered the life of the...