Erastus Corning

Erastus Corning (December 14, 1794 – April 9, 1872) was an American businessman and politician from Albany, New York. A Democrat, he was most notable for his service as mayor of Albany from 1834 to 1837, in the New York State Senate from 1842 to 1845, and two nonconsecutive terms in the United States House of Representatives from 1857 to 1859, and from 1861 to 1863.

Corning was a delegate to the 1860 Democratic National Convention and to the Peace Conference of 1861, which attempted to prevent the American Civil War. Though he was a Democrat and President Abraham Lincoln was a Republican, once the war started, Corning supported the Union while also criticizing what he viewed as the Lincoln administration's excesses.

Corning was born in Norwich, Connecticut, the son of Bliss Corning and Lucinda (Smith) Corning. At age two, Corning fell from his crib and injured a hip, which required him to walk with crutches. He was unable to walk unaided for more than a few steps, but this physical limitation was generally not referred to in the press. As an adult, he taught himself to walk with a cane, which enabled him to rely less on his crutches.

Corning attended academies in Norwich and Chatham, New York, and moved to Troy, New York, at the age of thirteen to clerk in the hardware store of his uncle, Benjamin Smith. Six years later he moved to Albany, New York, where he joined the mercantile business of James Spencer. After some time at Spencer's firm, Corning became a partner, and 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. John V. L. Pruyn was married to Harriet Corning Turner, who was Erastus Corning's niece. As a result of this family connection, Corning and Pruyn were often partners in business ventures and investments, which grew to include insurance, banking, land speculation, and land development.

Erastus Corning & Co. bought and sold all types iron products, including tools, nails, stoves, farming implements, and eventually railroad track rails and railroad car parts. The company had a wharf and warehouse on the Hudson River in Albany, and the store 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 items were for sale.

Corning also invested 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 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 City Bank, of which he served as president until his death. He had also been appointed to the board of regents for the University of the State of New York, begun speculating on land in western New York, including what are now the town of Corning and city of Corning. A Democrat, Corning also served a term as an Albany alderman beginning in 1828, then served as mayor from 1834 until 1837.

As an iron dealer, Corning saw the potential of railroads as both a consumer and distributor of his products. When the Utica and Schenectady Railroad was chartered in 1833, Corning was a major investor and served as president and a member of the board of directors. Corning was also a shareholder in and president of the smaller Mohawk and Hudson Railroad. In 1851, the two roads were reorganized as the Mohawk Valley Railroad, of which Corning was president.