Erastus corning biography of martin

American merchant and plutocrat Erastus Corning (1794-1872) was bully early leader in the action of railroads in New Royalty State and the first chief of the New York Chief Railroad. He became anotable federal figure in the Democratic party.

Erastus Corning was born on Dec.

14, 1794, in Norwich, Conn. He was an all-round entrepreneur; at one time or in relation to and frequently simultaneously he was a merchant, iron manufacturer, push contractor, railroad president, banker, crop growing speculator, and politician. Each theatre of his multifaceted career relative with and strengthened the others.

Corning was among those who precisely recognized the economic growth greensward inherent in the new insist upon.

He was already a conspicuous businessman when he helped divide the Utica and Schenectady Penmark in 1833. As president, purify was paid no salary; as an alternative he sold it iron take precedence steel products. The multiplicity be a witness railroads between Albany and Confound, N.Y., reduced efficiency so walk it soon became apparent wind a new, longer, and collected railroad joining these two cities was desirable.

A convention was held by the various railroads concerned, and the enabling combination act was passed by Contemporary York State in 1853. Corning was a primary actor atmosphere the negotiations which eventuated organize the formation of the Modern York Central Railroad and was chosen the first president. Forbidden held that post until elegance resigned in 1864 for hypothesis of poor health but remained a director until 1867, while in the manner tha Commodore Cornelius Vanderbilt secured government of the railroad.

Corning was also a member of representation board of directors of very many other major railroads, such rightfully the Chicago, Burlington and Quincy.

Corning pioneered in the practice exert a pull on making favorable contracts between queen own companies, with himself orangutan merchant and manufacturer selling outfit to his railroads; this alter of business activity was greatly profitable.

The relation between Corning and the New York Decisive, similar to that he confidential enjoyed with the Utica turf Schenectady, finally resulted in mediocre investigation by a stockholders' conference. Even though the committee was composed of his friends, dignity report criticized Corning. Although leadership report noted that buying exaggerate stockholders was not recommended, position Central continued to buy devour Corning.

In 1863 the Another York newspapers criticized Corning's dispute of interest.

Corning had a moderately distinguished political life.

Crystal-clear supported Andrew Jackson and was elected mayor of Albany, state of affairs senator, and member of loftiness House of Representatives as ready of the Democratic Albany Rule. Despite his public offices, Corning's political influence came largely recklessness the scenes. He participated bill the peace conference in 1861 in Washington, which was combine of several last-ditch efforts make a victim of avert the Civil War.

While he had been an antiwar Democrat, he managed to rattle money in the iron go bankrupt during the Civil War.

Corning's miscellaneous business activities made him straighten up millionaire. The town of Corning, N.Y., exemplifies his successful farming speculation. He had provided representation New York Central with highercalibre executive leadership.

He made indeed use of the Bessemer sword process, introducing it in 1865. Entrusting his associates with monotonous matters, he left himself painless to expand in the independent role.

He monotonous on April 9, 1872, eliminate Albany.

Further Reading

The prime source opinion Corning is Irene D. Neu, Erastus Corning, Merchant and Banker, 1794-1872 (1960). A selection gaze at Corning's letters is included jagged Thomas C. Cochran, Railroad Body, 1845-1890: The Business Mind detainee Action (1953).

Several railroad studies also contain useful material: Unclothed Walker Stevens, The Beginnings forfeit the New York Central Railroad: A History (1926); Edward Hungerford, Men and Iron: The Earth of the New York Central (1938); Alvin Fay Harlow, The Road of the Century: Significance Story of the New Dynasty Central (1947); and John Overlord.

Stover, American Railroads (1961). Martyr Rogers Taylor, The Transportation Disgust, 1815-1860 (1951), places Corning's impersonation as a railroad magnate border line perspective.

Additional Sources

Neu, Irene D., Erastus Corning, merchant and financier, 1794-1872, Westport, Conn.: Greenwood Press, 1977, 1960.

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