He acquired equity in the bank and in 1855 became its president, operating it largely in support of his and his associates' businesses and investments.

In the 1850s Taylor invested in iron and coal, and began purchasing interest in the Delaware, Lackawanna & Western railroad. When the Panic of 1857 brought the railroad to the brink of bankruptcy, Taylor obtained control by purchasing its outstanding shares for $5 a share. Within seven years the shares became worth $240, and the D. L. & W was one