Erastus Corning (1794-1872) [Section 21 Lot 2]
Owner of the New York Central Railroad, Owner of Erastus Corning & Co., Owner of Albany Iron Works, Owner of Rensselaer Iron Works, U.S. Congressman, Mayor of Albany, New York State Senator, Founder and President of Albany State Bank
Erastus Corning was one of eleven children born to Bliss Corning and Lucinda Smith on December 14, 1794, in Norwich, C.T. His family moved to Chatham, N.Y. in 1807, his father was involved in farming. Corning eventually moved to Troy to work with his uncle who operated a hardware store. Working as a clerk, he lived in the store where he set up a cot in the evening to sleep.
During the War of 1812, the British blockade of U.S. ports prevented his uncle from importing the necessary goods, resulting in him to scale back in business. Around 1813 Corning moved to Albany and began working for another mercantile shop. After two years he became a partner and eventually a senior partner when the owner, John Spencer, passed away in 1822. In addition to holdings from his uncle’s store he inherited, he established Erastus Corning & Co.
In 1819 Corning married Harriet Weld with whom they had five children. The wealth that Corning was able to procure allowed for the family to live comfortably with numerous servants.
Erastus Corning & Co. became important in Albany and the surrounding area, as it supplied iron products, nails, stoves, and farming equipment, and most likely supplying the needs for the Erie Canal. To help corner the market, in 1826 he purchased an iron foundry, the Albany Rolling and Slitting Mill, which he renamed it the Albany Nail Factory. This factory later renamed the Rensselaer Iron Works which had the first Bessemer converter in the United States, thanks to assistance by John Flack Winslow. It also supplied many items he sold in his shop.
Around 1831 Corning became interested in the railroad industry as his foundry could produce all the metal tracks and nail required for their construction. He was an investor and board member of the in the Utica and Schenectady Railroad as well as the Mohawk and Hudson Railroad. Two of his companies, Albany Iron Works and the Rensselaer Iron Works which became the largest producer of railroad equipment and other iron in the United States.
In additional to his business dealings, Corning was also active in politics as a Democrat, first elected as an Alderman in the City of Albany in 1828. He served one term as Mayor from 1834 – 1837, and a State Senator from 1842 – 1845. Corning served as Regent of the University of the State of New York from 1833 until his death in 1872.
In 1851 the ten local railroads of New York began to communicate and began the process of merging, leading to the creation of the New York Central Railroad with Corning as the president in 1854. The New York Central Railroad was affiliated with Corning up until 1865, two years before Cornelius Vanderbilt acquired control of the operation. During his time he was expanding the railroad's access to Boston, Chicago, Cleveland, and New York City.
Corning was elected to the U.S. House of Representatives, serving from 1857 – 1859 and then again from 1861 – 1863. He served as a delegate to the Peace Conference in hopes of stalling the Civil War, which did not prove successful. During the war, he was concerned with President Lincoln’s suspension rights of prisoners, which he though may cause catastrophic damage to the Union. Though he still supported the war effort, he wrote letters to the President informing him of his and his fellow Democrats concerns. He resigned from his position in Congress due to health issues, his attorney and close friend John V.L. Pruyn, who was married to his niece, succeeded him for the rest of the term. Corning sought another term in Congress but was not elected.
Corning remarkable life came to an end on April 8, 1872 after which he was interred in the family plot here at Albany Rural Cemetery. The cruciform sarcophagus in the largest lot of the cemetery is placed in his honor.
However, Corning did have contracts with the U.S. Navy and constructed parts and materials for the USS Monitor, their first ironclad warship. His partner, John Flack Winslow was largely responsible for the planning and construction of the warship.
Corning died on April 8, 1872, and is interred in a cruciform sarcophagus in the family plot, the largest lot at Albany Rural Cemetery.