William Retallack Garrison was the son of Cornelius Kingsland Garrison, and Mary Noye Re Tallack. He was born on June 18, 1834, at Goderich, Ontario, Canada, but as an infant, he was taken by his parents to St. Louis, Missouri, where his youth was spent.
Garrison was educated in the local schools, then in 1853, upon his father’s appointment as Pacific agent for the Nicaragua Steamship Company, he moved with his family to San Francisco.
Garrison's first financial experience was obtained with the banking firm of Garrison & Fretz, and subsequently, he became associated with all of the elder Garrison’s extensive mining, banking, and marine enterprises in California.
Combining a natural aptitude for business with an alert mind and a precocious intuition he quickly attained a leading position in business circles in San Francisco, and on his father’s return to the East in 1859, he assumed charge of all their joint interests on the Pacific Coast.
Five years later, he took up his residence in New York, and from that time until his death actively identified himself with the transportation interests of the country. Joining his father in his New York shipping business, he expanded the latter’s coast-wise services, became president of the Garrison line to Brazil, and, as the Commodore grew older, gradually relieved him of the management of his heavy marine investments.
When the Pacific Railroad of Missouri, which in 1876 passed into the hands of the elder Garrison, was reorganized as the Missouri Pacific, he became vice-president of the new company, for a time served as acting president, and practically guided its operations until its sale in 1880 to Jay Gould. He was also for some years president of the Wabash Railroad.
The New York Elevated Railroad Company operated a short line which was totally inadequate to meet requirements, while the Gilbert Elevated Railway Company held a charter under which it had been unable to finance operations owing to the panic of 1873.
In 1875, the state legislature created the board of commissioners of rapid transit, which organized the Manhattan Railway Company to build a road in case the two existing companies failed to afford relief within a reasonable time. Garrison and his father both invested in its stock.
Then, through the New York Loan and Improvement Company in which he held a preponderant interest, he contracted in 1876 to build and equip the line of the derelict Gilbert company on terms which gave him control of the latter. He also became its president.
Three years later, he promoted and carried through the scheme under which the Manhattan company leased for 999 years the property and rights of the New York and Metropolitan companies, thus effecting a complete and permanent unification of the elevated railroads and paving the way for their subsequent extension and successful operation.
For a short time after the consolidation, he was president of the Manhattan company and continued a director until his death, which occurred at Long Branch, New Jersey, from injuries sustained in the Parker’s Creek railway accident.
Garrison’s most important achievement in the field of transportation was in connection with New York City’s rapid-transit problems. Apart from his business enterprises he was chiefly known for his support of the cause of higher education and was particularly interested in the development of Washington and Lee University.
Garrison’s financial operations were characterized by a breadth of view seemingly incompatible with but invariably accompanied by a remarkable grasp of detail which contributed largely to the success of his ventures.
Garrison's knowledge of human nature was intuitive, his memory unfailing, his industry prodigious. Throughout his career, he was distinguished for courtesy, straightforward dealing, and a transparent honesty.
Garrison was married, in 1865, to Mary Elizabeth Estill, daughter of James Madison Estill of Kentucky.
