Corbett was involved in numerous other businesses.
Oregon Telegraph Company Corbett formed (with W.S. Ladd and S.G. Reed) the Oregon Telegraph Company in 1862, connecting Portland to the East by telegraph communications. This meant that Portland could get news and place orders with the eastern US without delays. On March 8, 1964, the mayors of
Portland, Maine, and Portland, Oregon, used it to exchange greetings.
Oregon Stage Line Corbett became proprietor in 1865 of the Oregon Stage Line. This four and six horse stage coach line ran overland daily between
Portland, Oregon, and
Sacramento, California, and points in between. It appears Corbett used both four and six horse coaches depending on the weight of documents carried, the terrain and weather conditions. The route ran between Portland and Sacramento going south (and the reverse going north) stopping at
Oregon City,
Salem,
Albany,
Corvallis,
Eugene,
Oakland,
Winchester,
Roseburg,
Canyonville and
Jacksonville in Oregon and
Yreka,
Trinity Centre,
Shasta,
Red Bluff,
Tehama,
Chico,
Oroville,
Marysville and
Sacramento in California. Through ticket holders could stop over at any of these stops going either way. The stage company provided seven-day daily runs from April–December and twelve-day runs during other months. Later Corbett cut the seven-day run to a six-day run. The steamships to and from San Francisco took five days but only went fortnightly so the stage usually provided a faster means of transport for both mail and passengers. There were connecting stage lines running from Sacramento to where the track had reached linking east on to Missouri. These connecting stages were first contracted by
Ben Holladay in 1862, who later sold his stage line to
Wells Fargo in 1866. As the
Central Pacific Railroad and
Union Pacific Railroad tracks were approaching each other this overland stage-line got shorter. Corbett held the contract to carry the mails to
Lincoln, California and San Francisco, only giving up that 640-mile route when it conflicted with his responsibilities as a U.S. senator.
Railways and river transportation Corbett was involved in the completion of the transcontinental railway to Portland in 1883. He was one of the original incorporators of the Northern Pacific Railroad in 1864 (and he was a director of Columbia River and Northern Railway Company ) and had been an early promoter, a principal investor and director of the
Oregon Railway and Navigation Company (OR&N). Contemporaneous elections for the
Oregon and Transcontinental and the
Northern Pacific Terminal Company installed many of the same men on the boards of those companies as well. The completion of the OR&N line ultimately linked Portland along the Columbia River Gorge through to St. Paul, Minnesota with connections east to the
Union Pacific Railroad. The Northern Pacific using this OR&N line was the first transcontinental train to arrive in Portland on September 11, 1883, and was greeted with great celebrations. Thereafter the OR&N and the Northern Pacific jointly operated the eastbound
Atlantic Express and the Westbound
Pacific Express . The OR&N later became part of Union Pacific after it bought a controlling interest in 1898. (From 1936 the railroad operated under the Union Pacific name.) Prior to the building of the transcontinental railway, Portland's contact with the outside world – California or the eastern US – was largely by sea. These journeys took a long time: they were made for business; to replenish stocks; visits to family; education in the East; or to see the world. Even the inland routes were largely along rivers. In May 1869, it became possible to travel by steamboat from Portland up the Columbia River to
Umatilla, Oregon, then by stagecoach via
Boise,
Idaho Territory to the Union Pacific railhead at
Kelton, Utah, then a Territory and from there on to localities in the east. This route could save time, but was difficult and hard going as described when teenage W.M.Ladd went with his father's partner C.E.Tilton to the East and Europe. Corbett was also involved in building the street railways as an investor and director in the City & Suburban Railway.
The First National Bank In 1869, ten years after the formation of the Ladd and Tilton Bank, Corbett and his brother-in-law
Henry Failing (with his father
Josiah Failing) purchased almost all the shares of the First National Bank. Corbett held 500 shares, Henry Failing 250 and his father Josiah 50 and they immediately increased the bank's capitalization from $100,000 to $250,000. Henry Failing became President of the bank, Corbett the vice-president. Failing held the position until his unexpected death in 1898 when Corbett assumed the President's role until his own death in 1903. The First National was the only bank in Portland and for a long time the only one West of the
Rocky Mountains that was chartered under the
National Banking Act. This 1863 act required nationally chartered banks to hold one third of the capital of the bank in US Treasury bonds. It allowed them in return to issue a uniform bank note backed by the bonds. The amount of the notes not to exceed 90 percent of the value of the bonds. It was intended to make banking safer and guarantee the value of bank notes to in effect create a nationwide currency. In 1865 the U.S. Congress enacted a 10 percent tax on any bank or individual using state bank notes. As a result, a number of banks converted to national charters, but many simply stopped issuing notes. Instead, they began to issue demand deposit money—checking accounts. There was no state-banking act in Oregon until 1907 so other banks at the time (like the Ladd and Tilton) were strictly private proprietorships, without a board, taking deposits and lending money without regulation. The First National Bank in Portland was the exception. Shortly after Corbett and the Failings acquired the bank it moved into the Corbett Building, completed in 1870. The Corbett Building on SW 1st Avenue between Alder and Washington was the first fully cast-iron fronted building in the city. The three-storey building had floor to ceiling windows, an advanced innovation. Its cast-iron frontispieces were manufactured in Baltimore and shipped around Cape Horn. (The bank subsequently moved into a new bank building built by H.W. Corbett. The present
First National Bank Building at 401–409 SW 5th Avenue, designed by Coolidge and Shattuck of Boston, resembling some of the Lincoln memorial classicism, was built in 1916 when the bank outgrew those later quarters and when it was subsequently under the ownership of H.W.Corbett's grandsons). Corbett and his brother-in-law, Henry Failing proved to be astute bankers. Corbett was a keen investor and trader and the only real politician – in the broadest sense – among the merchants of 1851. Corbett was at various times City treasurer of Portland, member of the city council, and chairman of the Republican State central committee. After over sixty years of Corbett family majority involvement, the Corbett brothers sold the bank in 1930 (along with minority shareholders) to Transamerica Corp, which also owned
Bank of America and Bancitaly, to concentrate on their real-estate and other investments. During those years the bank had been regarded as "typifying the extreme conservatism for which Portland had been celebrated for half a century".
The Oregonian newspaper The Oregonian newspaper became an influential voice in the development of Portland and the state. It had been founded as a weekly on December 4, 1850. It became a daily in 1861. Corbett was its proprietor from 1872 to 1877 when he bought control with others after its publisher
Henry Pittock had run into financial difficulties. He subsequently sold it back to him when these were resolved. For a while he used the paper to support his political interests in the state and nationally. When
Rutherford B. Hayes was nominated as the Republican presidential standard bearer in 1876 Corbett wrote to him from Washington "…[I] have written to the "Oregonian", which I control, to give to you its most hearty and enthusiastic support".
Portland downtown development Corbett was a leading early developer of downtown Portland and ultimately owned over twenty-seven buildings.
The Corbett Building. The original Corbett Building was built in 1870 at First Avenue midway on the west side of the block between Alder and Washington (pictured above).
The Corbett (or Burrell) Block, was built in 1874 at SW Front and Alder.
The Union Block built in 1879 at First and Stark, which he built with his brother-in-law Henry Failing. (pictured below)
The First National Bank Building. The original bank building was built in 1882 at the southeast corner of First and Washington Streets. which was later replaced as the First National Bank's main building by the present
First National Bank Building built in 1916 at 5th Avenue and Stark (when his grandsons controlled the bank).
The Multnomah Building at Fifth and Morrison.
The Cambridge Block built in 1884 at Third and Morrison.
The Worcester Block in 1889 at Third and Oak to Pine Sts. (Photo above in this section)
The Marquam Block in 1889 (of which he was part owner).
The Fifth & Stark Building in 1890.
The Neustadter Building at Fifth and Ankeny.
The Hamilton Building in 1893. The six-story building at 529 SW 3rd Ave was named in memory Corbett's younger son Hamilton who predeceased him. built by Corbett. (Now site of
Pioneer Courthouse Square)(Oregon Historical Society) The
Portland Hotel, opened in 1890, designed by
McKim Mead & White (pictured on right in this section). On eight floors and with 326 bedrooms, the hotel cost over a million dollars and took eight years to build. Corbett completed the building, which had been started and abandoned by railroad magnate
Henry Villard on Villard's bankruptcy. Corbett became principal owner and president. It was then one of the two most luxurious hotels in the West, second only in size to the Palace Hotel of San Francisco (it occupied the block which is now Portland's
Pioneer Courthouse Square). At his death in 1903 Corbett's estate of 27 downtown Portland buildings would increase in value by over 500% within seven years, much of the appreciation due to the financial boom and population growth stimulated by the
Lewis and Clark Exposition, which he had chaired.
Finance, insurance, iron, steel and other Corbett was president of the
Willamette Iron Works, founded in 1865. The company cast some of the iron fronts for buildings in Portland such as the three storey iron fronted Corbett and Henry Failing built Union Block built in stages between 1879 and 1881 using the city block at 1st and
Stark and covering approximately two hundred square feet. Designed by the architect W. H. Williams. It is stamped with company logo at the time Corbett was its president. The
Oregon Iron Company was established in 1865 and in 1867 and became the first company in the US to smelt iron on the
US West Coast at
Oswego, Oregon. The company was incorporated by
William S. Ladd and John Green and Henry D. Green. The smelter operated until April 8, 1869. In early 1872 a group of Eastern and San Francisco capitalists leased the furnace with the option of buying it at the end of two years. Henry W. Corbett,
Henry Failing, and
W. S. Ladd served on the board of directors during this reorganisation. Corbett founded and was president of the Security Savings & Trust Company, one of the leading financing institutions on the West coast. He was a founder and vice-president of the Oregon Fire and Marine Insurance Company. It was founded by Corbett and William S. Ladd in 1883 and was Portland's first home-based fire insurance company. (Other firms were agents for large national and foreign insurance companies). The businesses that he was involved in other than merchandise, banking, railways, telegraph, river transport, stage lines, buildings and newspaper covered in separate sections above also included finance, insurance, iron, steel and others such as: • The
Willamette Iron Works • The Oregon Fire and Marine Insurance Company • The
Oregon Iron Company • The Portland Cordage Co. • The Portland Linseed Oil Co. • The Portland Rope Works • The Oregon Transfer Co. • The Portland Gas Company • The Trinidad Asphalt Company • The Macadamized Road Company (built a macadamised toll road where Macadam road is now, running almost parallel with Corbett Ave.). ==Senate career==