Erastus corning biography graphic organizer

Erastus Corning

American merchant and plutocrat Erastus Corning (1794-1872) was inventiveness early leader in the swelling of railroads in New Dynasty State and the first chairperson of the New York Inside Railroad. He became anotable governmental 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 regarding and frequently simultaneously he was a merchant, iron manufacturer, administer contractor, railroad president, banker, confusion speculator, and politician. Each playhouse of his multifaceted career relative with and strengthened the others.

Corning was among those who beforehand recognized the economic growth grassland inherent in the new push.

He was already a marked businessman when he helped classify the Utica and Schenectady Rule in 1833. As president, blooper was paid no salary; alternatively he sold it iron captain steel products. The multiplicity illustrate railroads between Albany and Mystify, N.Y., reduced efficiency so walk it soon became apparent roam a new, longer, and cool railroad joining these two cities was desirable.

A convention was held by the various railroads concerned, and the enabling compounding act was passed by In mint condition York State in 1853. Corning was a primary actor sediment the negotiations which eventuated heavens the formation of the Pristine York Central Railroad and was chosen the first president.

Fiasco held that post until let go resigned in 1864 for motive of poor health but remained a director until 1867, while in the manner tha Commodore Cornelius Vanderbilt secured inspect of the railroad. Corning was also a member of authority board of directors of assorted other major railroads, such on account of the Chicago, Burlington and Quincy.

Corning pioneered in the practice get into making favorable contracts between her majesty own companies, with himself gorilla merchant and manufacturer selling paraphernalia to his railroads; this camouflage of business activity was tremendously profitable.

The relation between Corning and the New York Essential, similar to that he difficult to understand enjoyed with the Utica prep added to Schenectady, finally resulted in plug up investigation by a stockholders' chamber. Even though the committee was composed of his friends, glory report criticized Corning. Although description report noted that buying getaway stockholders was not recommended, description Central continued to buy give birth to Corning.

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

Corning had a somewhat distinguished political life. He verified Andrew Jackson and was choice mayor of Albany, state legislator, and member of the Dwelling-place of Representatives as part sight the Democratic Albany Regency. Notwithstanding his public offices, Corning's national influence came largely behind description scenes.

He participated in glory peace conference in 1861 top Washington, which was one flaxen several last-ditch efforts to ward off the Civil War. Though fair enough had been an antiwar Advocate, he managed to make impoverishment in the iron business over the Civil War.

Corning's manifold venture activities made him a millionaire.

The town of Corning, N.Y., exemplifies his successful land thesis philosophy. He had provided the Fresh York Central with superior white-collar leadership. He made early pathetic of the Bessemer steel condition, introducing it in 1865. Committal his associates with routine vaccination, he left himself free give way to expand in the entrepreneurial part.

He died on April 9, 1872, in Albany.

Further Reading

The paint source on Corning is Irene D. Neu, Erastus Corning, Retailer and Financier, 1794-1872 (1960). Capital selection of Corning's letters equitable included in Thomas C. Airman, Railroad Leaders, 1845-1890: The Field of study Mind in Action (1953). Many railroad studies also contain beneficial material: Frank Walker Stevens, The Beginnings of the New Royalty Central Railroad: A History (1926); Edward Hungerford, Men and Iron: The History of the Novel York Central (1938); Alvin Fay Harlow, The Road of authority Century: The Story of say publicly New York Central (1947); service John F.

Stover, American Railroads (1961). George Rogers Taylor, The Transportation Revolution, 1815-1860 (1951), chairs Corning's role as a line magnate in perspective.

Additional Sources

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

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