American capitalist, born in Carmel, NY, on the 29th of July 1797; died in New York City on the 29th of September 1879. He was first a cattle-drover, then engaged in steamboat-building, and afterward was connected with railroad enterprises, becoming a prominent speculator in Wall Street. He amassed a fortune, which at one time was estimated variously at from five to fifteen million dollars, but afterward lost heavily and ultimately was compelled to go into bankruptcy. Mr. Drew founded the Drew Ladies’ Seminary at Carmel, gave large sums to Wesleyan University, Middletown, CT, and in 1866 gave $250,000 toward founding the Drew Theological Seminary of Madison, NJ, the sum being afterward increased by him to nearly $1,000,000. This institution was founded for the purpose of training young men for the Methodist Episcopal ministry. It was opened November 6, 1867, the first president being the Rev. Dr. John McClintock. The course extends to three years, and is adapted to college graduates. There are two scholarships for advanced students, permitting the pupil to study abroad if desired. The direction and control of the faculty, etc., are under the supervision of the General Conference of the Methodist Episcopal Church.
