 While a student at Eagleswood Military Academy,
 near Perth Amboy, New Jersey, from 1861 to 1864, he purchased the "Hornet" for a mere $2.00, the first of many boats he was to own.After briefly attending Columbia University in New York City, Munroe participated in a number of lucrative business ventures as well as yachting adventures.In 1874, he encountered William Brickell off of the coast of Staten Island, a meeting that changed his life.