Henry Winslow Corbett, a former Senator, Portland businessman and Trustee of Albany College, was born 18 February 1827 in Westboro, Mass. At age 23 he journeyed to Portland around Cape Horn on the ship Frances and Louise, a voyage that took six months to complete.

Henry W. Corbett arrived in Portland 4 March 1851. The new city, which was located on the banks of the Willamette River, had only 400 people. It is not clear whether the newly established merchandising business was wholly owned by Corbett or shared with Williams Bradford & Co. The new business prospered. Eventually however, the two parted ways and Corbett established a general merchandising business under his own name, H. W. Corbett. In 1871, Corbett eventually merged with Josiah Failing and Company, a wholesale general merchandising business that was founded by Josiah Failing and his son Henry in 1851, and the new business became Corbett, Failing & Co., which remained in operation until 1893. Henry W. Corbett and Henry Failing also jointly bought the controlling interest in the First National Bank in 1867, and Corbett served as one of its presidents from 1898 until his death in 1903.

In addition, Corbett’s duties included a time as a senator. Corbett served as Oregon's elected United States Senator from 1867-1873, succeeding James W. Nesmith. His other duties included a presidency at Security Savings and Trust Company from its inception, at the Board of Trade, and chairman of the Committee of One Hundred. He was an active member in the Chamber of Commerce and the First Presbyterian Church.  His charitable contributions aided Albany College, Portland Academy, Pacific University, Portland Library, Portland Art Association, Y.M.C.A, Boys' and Girls' Aid Society, City Board of Charities, Homeopathic Hospital, and Presbyterian churches throughout the Pacific Northwest.

Henry W. Corbett passed away 31 March 1903, at the age of 76. He had spent the prior day focused on his role as president of the Lewis and Clark Fair Association, later known as the Lewis and Clark Centennial Exposition. Recognizing his failing strength, he resigned a mere eighteen hours before his death. Corbett's grandson, Henry Ladd Corbett, returned Harvard College in order to run the family business.