Erastus Corning
Encyclopedia
Erastus Corning I American businessman and politician, was born in Norwich, Connecticut
. Corning moved to Troy, New York
at the age of 13 to clerk in the hardware store of an uncle; six years later he moved to Albany, New York
, where he joined the mercantile business under James Spencer
. After some time at Spencer's firm, Corning became a partner, and eventually the senior partner upon Spencer's death in 1824. Corning combined the Spencer firm with holdings he inherited from his uncle to form Erastus Corning & Co.
in Albany
, and the store itself served not only Albany and the surrounding towns, but hundreds of large customers from the west who visited Albany only two or three times a year to buy and sell products, restock their own supplies, and see what new was for sale. Corning's hardware store soon became one of the most significant businesses in Albany.
Corning was not content to run a hardware store, however, no matter how big the store might be. About the time he was consolidating his holdings into Erastus Corning & Co., he was also investing in banks and insurance companies. He purchased the Albany Rolling and Slitting Mill, renamed it the Albany Nail Factory, and used it to corner the market on numerous of the iron products he sold at his store. The Albany Nail Factory eventually became the Rensselaer Iron Works, which, under Corning's guidance, installed the first Bessemer converter in the United States
.
By the time he was 40, Corning had helped found the Albany State Bank (he would serve as president until his death), been named to the board of the University of the State of New York, begun speculating on land in western New York
(including the townsite that bears his name
), and had been elected mayor
of Albany. Corning served a single term as mayor, from 1834 until 1837, having been elected as a Democrat.
. As an iron dealer, he very quickly saw the potential that railroads had as an economic engine as both a consumer and distributor of his products, and took an interest from the very start. When the Utica and Schenectady Railroad was chartered in 1833, Corning got himself a seat on the board and became a major investor, and was soon president of the road. Corning ran the Utica & Schenectady for twenty years. The railroad eventually boasted 78 miles (125.5 km) of track, from Schenectady
in the east (where the road interchanged with the smaller Mohawk and Hudson Railroad of which Corning was also a shareholder) to Utica
in the west. In 1851, the road's name was changed to the Mohawk Valley Railroad.
Corning was not satisfied with just his railroad, banking, insurance, land speculation, and iron works interests, however. He continued to dabble in politics, being elected in 1842 to the New York state senate for a single term. His foray into state politics convinced him that the current system of railroads stretching across upstate New York was inefficient and could be made far more profitable by combining them. He began planning what would eventually become the largest corporation in America at the time, the New York Central.
As president of the Utica & Schenectady, Corning organized in 1851 a convention of the owners and presidents of the other eight operating railroads, which combined roughly connected the cities of Albany
and Buffalo, New York
. The convention agreed on a framework for consolidation of the eight roads (as well as two paper roads, which had not yet been built but were planned), and Corning took the convention's application to the state Legislature. Corning became the main lobbyist for the proposal in the legislature, and despite being a Democrat made a personal appeal to Thurlow Weed
, leader of the Whigs
, who controlled state government at the time.
Corning had a lot riding on the legislature's decision. He had organized the convention and largely dictated the terms of the merger to the other companies. Once the legislature passed the Consolidation Act on April 2, 1853, Corning found himself in possession of the majority of shares in the new company, and so at the first meeting of the New York Central's shareholders in 1853, Corning got himself elected president of the company. He remained in that role for twelve years, during which time the New York Central made connections and struck deals that gave the road access to Cleveland
, Boston, New York City, and Chicago, and made it one of the country's most important railroads.
Corning amassed a significant fortune, and used it to invest in land schemes as far west as Wisconsin
and Iowa
. He bought large shares in the Chicago, Burlington and Quincy Railroad
and the Michigan Central Railroad
, and was the largest shareholder in and president of the St. Mary's Falls Ship Canal Company, which constructed the canal and locks
on the St. Mary's River at Sault Ste. Marie, Michigan
, connecting Lake Superior
with Lake Huron
. For this the company received 750,000 acres (3035 km²) of land in the west; Corning himself took 100,000 acres (400 km²) of this.
, 37th
and 38th United States Congress
es, serving from March 4, 1857, to March 3, 1859, and from March 4, 1861, to October 5, 1863, when he resigned. He was a delegate to the 1860 Democratic National Convention
.
In 1861, before taking office in Congress, he was a delegate to the Peace Congress
in Washington, D.C.
, but once the Civil War began he took his seat in Congress and, at least initially, supported the Lincoln Administration
. He resigned his seat in October 1863 because of failing health and disagreements with the Lincoln Administration
over prosecution of the Civil War
. In February 1863
, he was the Democratic caucus nominee for U.S. Senator from New York, but was defeated by Republican Edwin D. Morgan
.
Back home in Albany
, Corning organized a public meeting on the war, which resulted in a formal letter sent to Abraham Lincoln under Corning's hand offering support for maintaining the integrity of the Union, but censuring the administration for certain tactics it was employing in the war, most notably the making of military arrests of civilians in New York accused of avoiding service. This incident is notable for the response it generated from President Lincoln, a lengthy letter wherein the president sets out his views on what the Constitution
allowed him to do in wartime.
Despite his disagreements with Lincoln's handling of the war, Corning fully supported the effort to maintain the Union. The United States Navy
contracted with Corning's iron works to manufacture parts and materials for the USS Monitor
, the Navy's first ironclad warship.
. In 1867, Corning was a delegate to the New York State Constitutional Convention. It was his last public office.
By 1871, Corning had passed control of his business interests on to his sons and close associates, and at one point passed up the opportunity to buy a share in a new land deal in Nebraska, saying that "I find that my health is such that it will not do for me to take hold of any new undertaking." He remained on the board of the Albany State Bank, and also continued as vice chancellor of the board of regents of the University of the State of New York, positions he had held by that time for over 30 years. He died at home in Albany in April, 1872.
Corning's grandsons Edwin
and Parker Corning
both held various political positions in the state of New York in the early 1900s. His great-grandson, Erastus Corning II, was mayor of Albany
, New York
for over 40 years, from 1941 to 1983. The Rensselaer Iron Works eventually became part of the larger Troy Iron & Steel Company, in its time the largest iron and steel manufacturer in the United States, but the company eventually went out of business. The New York Central remained one of the most significant American railroads through the end of the 19th Century; it was eventually merged with its arch-rival the Pennsy (Pennsylvania Railroad
) and ultimately became a part of Conrail in the 1970s. Parts of the New York Central, including parts of the original Utica & Schenectady, are still in use today by CSX. The locks on the St. Mary's River remain the busiest locks in the world. Erastus Corning's personal papers, almost 50,000 pages worth, are held by the libraries of Cornell University
.
Norwich, Connecticut
Regular steamship service between New York and Boston helped Norwich to prosper as a shipping center through the early part of the 20th century. During the Civil War, Norwich once again rallied and saw the growth of its textile, armaments, and specialty item manufacturing...
. Corning moved to Troy, New York
Troy, New York
Troy is a city in the US State of New York and the seat of Rensselaer County. Troy is located on the western edge of Rensselaer County and on the eastern bank of the Hudson River. Troy has close ties to the nearby cities of Albany and Schenectady, forming a region popularly called the Capital...
at the age of 13 to clerk in the hardware store of an uncle; six years later he moved to Albany, New York
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
, where he joined the mercantile business under James Spencer
James Spencer
James Matthew Spencer is an English footballer who plays as a goalkeeper for F.C. United of Manchester.-Stockport County:...
. After some time at Spencer's firm, Corning became a partner, and eventually the senior partner upon Spencer's death in 1824. Corning combined the Spencer firm with holdings he inherited from his uncle to form Erastus Corning & Co.
Erastus Corning & Co.
Erastus Corning & Co. was much more than what modern readers think of as a hardware store. Corning bought and sold all manner of iron products, not merely tools and nails as one would expect but also stoves, farming equipment, and, eventually, rails and railroad iron parts and products. The company had a wharf and warehouse on the Hudson RiverHudson River
The Hudson is a river that flows from north to south through eastern New York. The highest official source is at Lake Tear of the Clouds, on the slopes of Mount Marcy in the Adirondack Mountains. The river itself officially begins in Henderson Lake in Newcomb, New York...
in Albany
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
, and the store itself served not only Albany and the surrounding towns, but hundreds of large customers from the west who visited Albany only two or three times a year to buy and sell products, restock their own supplies, and see what new was for sale. Corning's hardware store soon became one of the most significant businesses in Albany.
Corning was not content to run a hardware store, however, no matter how big the store might be. About the time he was consolidating his holdings into Erastus Corning & Co., he was also investing in banks and insurance companies. He purchased the Albany Rolling and Slitting Mill, renamed it the Albany Nail Factory, and used it to corner the market on numerous of the iron products he sold at his store. The Albany Nail Factory eventually became the Rensselaer Iron Works, which, under Corning's guidance, installed the first Bessemer converter in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
By the time he was 40, Corning had helped found the Albany State Bank (he would serve as president until his death), been named to the board of the University of the State of New York, begun speculating on land in western New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
(including the townsite that bears his name
Corning (city), New York
Corning is a city in Steuben County, New York, United States, on the Chemung River. The population was 10,842 at the 2000 census. It is named for Erastus Corning, an Albany financier and railroad executive who was an investor in the company that developed the community.- Overview :The city of...
), and had been elected mayor
Mayor
In many countries, a Mayor is the highest ranking officer in the municipal government of a town or a large urban city....
of Albany. Corning served a single term as mayor, from 1834 until 1837, having been elected as a Democrat.
Railroads
Erastus Corning's most lasting contribution to history may have been his dealings with railroadsRail transport
Rail transport is a means of conveyance of passengers and goods by way of wheeled vehicles running on rail tracks. In contrast to road transport, where vehicles merely run on a prepared surface, rail vehicles are also directionally guided by the tracks they run on...
. As an iron dealer, he very quickly saw the potential that railroads had as an economic engine as both a consumer and distributor of his products, and took an interest from the very start. When the Utica and Schenectady Railroad was chartered in 1833, Corning got himself a seat on the board and became a major investor, and was soon president of the road. Corning ran the Utica & Schenectady for twenty years. The railroad eventually boasted 78 miles (125.5 km) of track, from Schenectady
Schenectady, New York
Schenectady is a city in Schenectady County, New York, United States, of which it is the county seat. As of the 2010 census, the city had a population of 66,135...
in the east (where the road interchanged with the smaller Mohawk and Hudson Railroad of which Corning was also a shareholder) to Utica
Utica, New York
Utica is a city in and the county seat of Oneida County, New York, United States. The population was 62,235 at the 2010 census, an increase of 2.6% from the 2000 census....
in the west. In 1851, the road's name was changed to the Mohawk Valley Railroad.
Corning was not satisfied with just his railroad, banking, insurance, land speculation, and iron works interests, however. He continued to dabble in politics, being elected in 1842 to the New York state senate for a single term. His foray into state politics convinced him that the current system of railroads stretching across upstate New York was inefficient and could be made far more profitable by combining them. He began planning what would eventually become the largest corporation in America at the time, the New York Central.
As president of the Utica & Schenectady, Corning organized in 1851 a convention of the owners and presidents of the other eight operating railroads, which combined roughly connected the cities of Albany
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
and Buffalo, New York
Buffalo, New York
Buffalo is the second most populous city in the state of New York, after New York City. Located in Western New York on the eastern shores of Lake Erie and at the head of the Niagara River across from Fort Erie, Ontario, Buffalo is the seat of Erie County and the principal city of the...
. The convention agreed on a framework for consolidation of the eight roads (as well as two paper roads, which had not yet been built but were planned), and Corning took the convention's application to the state Legislature. Corning became the main lobbyist for the proposal in the legislature, and despite being a Democrat made a personal appeal to Thurlow Weed
Thurlow Weed
Thurlow Weed was a New York newspaper publisher, politician, and party boss. He was the principal political advisor to the prominent New York politician William H...
, leader of the Whigs
Whig Party (United States)
The Whig Party was a political party of the United States during the era of Jacksonian democracy. Considered integral to the Second Party System and operating from the early 1830s to the mid-1850s, the party was formed in opposition to the policies of President Andrew Jackson and his Democratic...
, who controlled state government at the time.
Corning had a lot riding on the legislature's decision. He had organized the convention and largely dictated the terms of the merger to the other companies. Once the legislature passed the Consolidation Act on April 2, 1853, Corning found himself in possession of the majority of shares in the new company, and so at the first meeting of the New York Central's shareholders in 1853, Corning got himself elected president of the company. He remained in that role for twelve years, during which time the New York Central made connections and struck deals that gave the road access to Cleveland
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
, Boston, New York City, and Chicago, and made it one of the country's most important railroads.
Corning amassed a significant fortune, and used it to invest in land schemes as far west as Wisconsin
Wisconsin
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...
and Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
. He bought large shares in the Chicago, Burlington and Quincy Railroad
Chicago, Burlington and Quincy Railroad
The Chicago, Burlington and Quincy Railroad was a railroad that operated in the Midwestern United States. Commonly referred to as the Burlington or as the Q, the Burlington Route served a large area, including extensive trackage in the states of Colorado, Illinois, Iowa, Kentucky, Missouri,...
and the Michigan Central Railroad
Michigan Central Railroad
The Michigan Central Railroad was originally incorporated in 1846 to establish rail service between Detroit, Michigan and St. Joseph, Michigan. The railroad later operated in the states of Michigan, Indiana, and Illinois in the United States, and the province of Ontario in Canada...
, and was the largest shareholder in and president of the St. Mary's Falls Ship Canal Company, which constructed the canal and locks
Soo Locks
The Soo Locks are a set of parallel locks which enable ships to travel between Lake Superior and the lower Great Lakes. They are located on the St. Marys River between Lake Superior and Lake Huron, between the Upper Peninsula of the US state of Michigan and the Canadian province of Ontario...
on the St. Mary's River at Sault Ste. Marie, Michigan
Sault Ste. Marie, Michigan
Sault Ste. Marie is a city in and the county seat of Chippewa County in the U.S. state of Michigan. It is in the north-eastern end of Michigan's Upper Peninsula, on the Canadian border, separated from its twin city of Sault Ste. Marie, Ontario, by the St. Marys River...
, connecting Lake Superior
Lake Superior
Lake Superior is the largest of the five traditionally-demarcated Great Lakes of North America. It is bounded to the north by the Canadian province of Ontario and the U.S. state of Minnesota, and to the south by the U.S. states of Wisconsin and Michigan. It is the largest freshwater lake in the...
with Lake Huron
Lake Huron
Lake Huron is one of the five Great Lakes of North America. Hydrologically, it comprises the larger portion of Lake Michigan-Huron. It is bounded on the east by the Canadian province of Ontario and on the west by the state of Michigan in the United States...
. For this the company received 750,000 acres (3035 km²) of land in the west; Corning himself took 100,000 acres (400 km²) of this.
Civil War politics
In 1856, shortly after finishing the St. Mary's River project, Corning was elected as a Democrat to the 35th35th United States Congress
The 35th United States Congress was a meeting of the legislative branch of the United States federal government, consisting of the United States Senate and the United States House of Representatives. It met in Washington, D.C. from March 4, 1857 to March 3, 1859, during the first two years of James...
, 37th
37th United States Congress
The Thirty-seventh United States Congress was a meeting of the legislative branch of the United States federal government, consisting of the United States Senate and the United States House of Representatives. It met in Washington, D.C. from March 4, 1861 to March 4, 1863, during the first two...
and 38th United States Congress
38th United States Congress
-House of Representatives:Before this Congress, the 1860 United States Census and resulting reapportionment changed the size of the House to 241 members...
es, serving from March 4, 1857, to March 3, 1859, and from March 4, 1861, to October 5, 1863, when he resigned. He was a delegate to the 1860 Democratic National Convention
1860 Democratic National Convention
The 1860 Democratic National Convention was one of the crucial events in the lead-up to the American Civil War. Following a fragmented official Democratic National Convention that was adjourned in deadlock, two more presidential nominating conventions took place: a resumed official convention,...
.
In 1861, before taking office in Congress, he was a delegate to the Peace Congress
Peace congress
A peace congress, in international relations, has at times been defined in a way that would distinguish it from a peace conference , as an ambitious forum to carry out dispute resolution in international affairs, and prevent wars...
in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, but once the Civil War began he took his seat in Congress and, at least initially, supported the Lincoln Administration
Abraham Lincoln
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He successfully led his country through a great constitutional, military and moral crisis – the American Civil War – preserving the Union, while ending slavery, and...
. He resigned his seat in October 1863 because of failing health and disagreements with the Lincoln Administration
Abraham Lincoln
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He successfully led his country through a great constitutional, military and moral crisis – the American Civil War – preserving the Union, while ending slavery, and...
over prosecution of the Civil War
American Civil War
The American Civil War was a civil war fought in the United States of America. In response to the election of Abraham Lincoln as President of the United States, 11 southern slave states declared their secession from the United States and formed the Confederate States of America ; the other 25...
. In February 1863
United States Senate election in New York, 1863
The 1863 United States Senate election in New York was held on February 3, 1863, by the New York State Legislature to elect a U.S. Senator to represent the State of New York in the United States Senate.-Background:...
, he was the Democratic caucus nominee for U.S. Senator from New York, but was defeated by Republican Edwin D. Morgan
Edwin D. Morgan
Edwin Denison Morgan was the 21st Governor of New York from 1859 to 1862 and served in the United States Senate from 1863 to 1869. He was the first and longest-serving chairman of the Republican National Committee...
.
Back home in Albany
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
, Corning organized a public meeting on the war, which resulted in a formal letter sent to Abraham Lincoln under Corning's hand offering support for maintaining the integrity of the Union, but censuring the administration for certain tactics it was employing in the war, most notably the making of military arrests of civilians in New York accused of avoiding service. This incident is notable for the response it generated from President Lincoln, a lengthy letter wherein the president sets out his views on what the Constitution
United States Constitution
The Constitution of the United States is the supreme law of the United States of America. It is the framework for the organization of the United States government and for the relationship of the federal government with the states, citizens, and all people within the United States.The first three...
allowed him to do in wartime.
Despite his disagreements with Lincoln's handling of the war, Corning fully supported the effort to maintain the Union. The United States Navy
United States Navy
The United States Navy is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined. The U.S...
contracted with Corning's iron works to manufacture parts and materials for the USS Monitor
USS Monitor
USS Monitor was the first ironclad warship commissioned by the United States Navy during the American Civil War. She is most famous for her participation in the Battle of Hampton Roads on March 9, 1862, the first-ever battle fought between two ironclads...
, the Navy's first ironclad warship.
Later years
Corning's personal papers make little reference to the nature of his ill health, but from his retirement on, Corning slowly began reducing his commitments and public activities. Through the 1860s he began to focus more on land speculation and less on his business holdings. He resigned from the New York Central in 1865, two years before the railroad was bought out by Cornelius VanderbiltCornelius Vanderbilt
Cornelius Vanderbilt , also known by the sobriquet Commodore, was an American entrepreneur who built his wealth in shipping and railroads. He was also the patriarch of the Vanderbilt family and one of the richest Americans in history...
. In 1867, Corning was a delegate to the New York State Constitutional Convention. It was his last public office.
By 1871, Corning had passed control of his business interests on to his sons and close associates, and at one point passed up the opportunity to buy a share in a new land deal in Nebraska, saying that "I find that my health is such that it will not do for me to take hold of any new undertaking." He remained on the board of the Albany State Bank, and also continued as vice chancellor of the board of regents of the University of the State of New York, positions he had held by that time for over 30 years. He died at home in Albany in April, 1872.
Corning's grandsons Edwin
Edwin Corning
Edwin Corning was an American businessman and politician from New York. He was Lieutenant Governor of New York from 1927 to 1928.-Life:...
and Parker Corning
Parker Corning
Parker Corning was a United States Representative from New York. Born in Albany, he attended the public schools, The Albany Academy, and St. Paul's School in Concord, New Hampshire...
both held various political positions in the state of New York in the early 1900s. His great-grandson, Erastus Corning II, was mayor of Albany
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
for over 40 years, from 1941 to 1983. The Rensselaer Iron Works eventually became part of the larger Troy Iron & Steel Company, in its time the largest iron and steel manufacturer in the United States, but the company eventually went out of business. The New York Central remained one of the most significant American railroads through the end of the 19th Century; it was eventually merged with its arch-rival the Pennsy (Pennsylvania Railroad
Pennsylvania Railroad
The Pennsylvania Railroad was an American Class I railroad, founded in 1846. Commonly referred to as the "Pennsy", the PRR was headquartered in Philadelphia, Pennsylvania....
) and ultimately became a part of Conrail in the 1970s. Parts of the New York Central, including parts of the original Utica & Schenectady, are still in use today by CSX. The locks on the St. Mary's River remain the busiest locks in the world. Erastus Corning's personal papers, almost 50,000 pages worth, are held by the libraries of Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
.