Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations, Part 119

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888
Publication date: 1886
Publisher: New York, W. W. Munsell & Co.
Number of Pages: 1452

USA > New York > Albany County > Albany > Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations > Part 119

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There may be some question as to who first con- ceived the scheme of connecting the waters of Lake Erie with the Hudson. Joel Barlow, a New Eng- land poet, as early as 1787, published a poem called " The Vision of Columbus," from which is quoted lines that seem prophetic of our grand canal system. Certain it is, the poem was published when that magnificent project of the Erie Canal, if it had any other place than in the imagination of a poet, was probably regarded as the visionary chimera of an enthusiast. But the printed scheme of the poet may have awakened the attention of some strong mind to undertake the task of carry- ing out what we now behold in successful opera- tion, foreshadowed in these words :

" He saw, as widely spread the unchanneled plain, Where inland realms for ages bloomed in vain, Canals, long winding, ope a watery flight, And distant streams, and seas, and lakes unite.

"From fair Albania, tow'rd the falling sun, Back through the midland, lengthening channels run, Meet the far lakes, the beauteous towns that lave, And Hudson joined to broad Ohio's wave."

524

HISTORY OF THE COUNTY OF ALBANY.

Almost as early as the publication of this poem, Elkanah Watson, born on Plymouth Rock, con- ceived the practicability of a canal from Albany to Lake Erie. In 1804, writing to Peleg Wadsworth, the revolutionary general and Member of Congress, he says: "The dream of connecting the great lakes with the Hudson has been my leading hobby since 1788. Mr. Adams considered me an enthu- siast in this vast object, and that the mania had seized upon me with such force as to endanger a due attention to my own interests, and cautioned me as a friend to moderate my zeal."

A writer in the Albany Daily Advertiser, under the signature of Verdicius, ascribes the scheme of uniting the Hudson River to Lake Erie by a nav- igable canal to Elkanah Watson, offering in proof the private journal of Mr. Watson, during a tour from Schenectady to Geneva in 1791, when he care- fully explored the ground, streams and small lakes lying on the route. This journey is said to have been made with a view of recommending to public notice the project of uniting the two waters. The progressive spirit, activity and energy of Mr. Wat- son, united with the testimony of his contemporaries, force us to regard him as the man whose mind orig- inated the Erie Canal.

In this article we merely endeavor to give a proper historic prominence to Albany, whose leading citizens were so active in the canal pro- ject, and who helped to carry it to a successful completion.

Mr. Watson awakened many other citizens of Albany to a belief in the practicability of this canal, and who aided with their influence and wealth to make its completion possible. Among them were the Van Rensselaers and Schuylers, John and Isaiah Townsend.

February 7, 1816, a meeting was called at the Tontine Coffee-House to urge the subject of a canal upon the people and the Legislature, signed by Archibald McIntyre, James Kane, John Wood- worth, William James, Charles E. Dudley, Dudley Walsh, Barent Bleecker, John Van Schaick, Rens- selaer Westerlo and Harmanus Bleecker. A com- mittee was appointed in each ward to secure signa- tures to a memorial to the Legislature. This seems to have been the first organized effort on the part of the citizens to promote this scheme. In April following, an act was passed to "provide for the improvement of the internal navigation of this State.'

Under this act Stephen Van Rensselaer, De Witt Clinton, Samuel Young, Joseph Ellicott and Myron Holley were appointed Commissioners "to con- sider, devise and adopt such measures " as might or should be "requisite to facilitate and effect the communication, by means of canals and locks, between the navigable waters of the Hudson River and Lake Erie, and the said navigable waters and Lake Champlain."

The report of this commission was the subject of much contest in the next Legislature, and the act authorizing the construction of the canal was not passed until the last day of the session, April 15, 1817.

October 8, 1823, the first boat passed through the completed portion of the canal, east of Genesee River, into the Hudson. The appearance of this stranger was greeted by many demonstrations of joy. Although the great work was not completed, the people of Albany determined to celebrate the event with appropriate ceremonies. The Common Coun- cil appointed a committee, consisting of Aldermen Gibbons, Baldwin, Humphrey, Cassidy, Ten Eyck, and the Chamberlain, who had charge of the arrange- ments. Solomon Van Rensselaer was Marshal of the day. At sunrise a national salute was fired and the bells rung. A large military and civic parade was an important feature of the celebration. Business gen- erally was suspended, and the entire population of the city and thousands of strangers seemed to have joined in the celebration. Speeches were delivered by the Mayor, Charles E. Dudley, Ex-Governor De Witt Clinton and many others.

Cadwallader Colden thus describes the scene pre- sented on this occasion: "The pencil can do no justice to the scene presented on the fine autumnal morning when the Albany lock was first cpened. Numerous steamboats and river vessels, splendidly dressed, decorated the beautiful amphitheatre formed by the hills which border the valley of the Hudson at this place; the river winding its bright stream far from the north and losing itself in the distance to the south; the islands it embraced; the woods variegated by the approach of winter, a beauty pe- culiar to our climate; the wreathed arches and other embellishments which had been erected for the occasion, were all objects of admiration. A line of canal-boats, with colors flying, bands of music, and crowded with people, were seen com- ing from the north and seemed to glide over the level grounds which hid the waters of the canal for some distance, as if they were moved by en- chantment.

"The first boat that entered the lock was the De Witt Clinton, having on board Governor Yates, the Mayor and Corporation of Albany, the Canal Commissioners and Engineers, the committees and other citizens. One, not the least attractive part of the scene, was filled with ladies. The cap-stone of the lock was laid with Masonic ceremonies by the fraternity, who appeared in great numbers and in grand costume.

"The waters of the West and of the ocean were then mingled by Dr. Mitchell, who pronounced an epithalamium upon the union of the river and the lakes, after which the lock-gates were opened, and the De Witt Clinton majestically sunk upon the bosom of the Hudson.

"She was then towed by long lines of barges past the steamboats and other vessels to a wharf at the upper end of the city, where those gentlemen who were embarked on board the canal-boats landed, and joined a military and civic procession, which was conducted by a large stage, fancifully deco- rated, erected for the occasion in front of the Cap- itol."

The system of canal navigation, as at this time com- pleted, soon proved the wisdom of its originators. During the summer of 1824 and 1825, with occa-

525

THE ERIE CANAL AS RELATED TO ALBANY.

sional interruptions, arising from repairs and plac- ing of new structures, the City of Albany began to realize the benefits of canal navigation, and the daily announcement of the arrival and departure of canal-boats in the public journals, indicate the im- portance that was attached to this great channel of commerce.

October 26, 1825, the canal from Lake Erie to the Hudson River was completed. It was decided to commemorate the event by ceremonies the most brilliant and impressive that could be devised, and along the whole length of the canal, each place, in proportion to its means, sought to outrival its neighbor in expressions of joy upon this memorable occasion.

The Common Council of Albany, October 17, 1825, appointed a committee, consisting of Alder- men Denniston, Cassidy, Lush, Esleeck and Costi- gan, to devise means to celebrate the event. A public meeting of the citizens was held in the Cap- itol, September 14th, over which Colonel Elisha Jenkins presided. At this gathering twenty-five citizens were selected to act as a committee to adopt measures for celebrating the completion of the great project. A similar meeting of citizens and transporters was held a few days later. By these public gatherings much enthusiasm was aroused.

The passage of the first canal-boat from Buf- falo into the Albany basin was announced by the successive discharge of cannon, placed along the canal between Lake Erie and the Hudson, and along the Hudson between Albany and New York. The Buffalo boat entered the basin at three minutes before I I o'clock, A. M. At five min- utes before 12 the sound of "the return fire from New York " reached Albany.

The celebration was general along the entire line of the canal. The water pageant started from Buffalo on the morning of October 26, 1825, the boat Seneca Chief being fitted up for the dignitaries leading in the triumphant passage. On the morn- ing of November 2d it had reached Albany.

The proceedings at Albany we cannot detail at length. They were thus described in the Albany Daily Advertiscr :

" At 10 o'clock the Seneca Chief, with the Gov- ernor, Lieutenant-Governor, the Buffalo, Western and New York Committees on board, came down in fine style, and the thunder of cannon proclaimed that the work was done, and the assembled multi- tude made the welkin ring with shouts of gladness. It was not a monarch which they hailed, but it was the majesty of genius, supported by a free people, that rode in triumph and commanded the admira- tion of men stout of heart and firm of purpose."

At II o'clock the procession was formed and paraded through the principal streets of the city, under the direction of Welcome Esleeck, John Tay- ler, James Gibbons and Francis I. Bradt, Marshal of the day. After the procession reached the Cap- itol, impressive services were held. An ode, written for the occasion by John Augustus Stone, of the Albany Theatre, was sung. Addresses were made by Philip Howe, of New York; William James,

Chairman of the Committee of Citizens of Albany; and Lieutenant-Governor Tallmadge. The exer- cises were followed by a magnificent collation, pro- vided for the guests by the citizens of Albany at the Columbia-street Bridge. In the evening a grand ball was held at Knickerbocker Hall, where, as was said by an eye-witness, was congregated the beauty of the city, and the expression of sparkling eyes evinced that "the last, best gift to man " felt a deep interest in the prosperity and glory of the State.

Everything pertaining to the celebration of this great event was conducted in the best manner and commensurate with the greatness of the project. To Albany in a special degree was the opening of the Erie Canal a great blessing. On its commercial ad- vancement it had a wonderful beneficent influence. A few years after its completion the editor of the Daily Advertiser asserted that the wholesale business of the city had quadrupled during the two years since the opening of the canal, and that Albany mer- chants had opened a direct business with the man- ufacturers of Europe. The construction of railroads has materially lessened the commerce of the canals, but still it forms an important factor in Albany's commercial activities.

The dates of the annual opening and closing of this canal will be valuable for reference: 1824, opened April 30, closed December 4; 1825, April 12,. December 5; 1826, April 20, December 18; 1827, April 22, December 18; 1828, March 27, December 20; 1829, May 2, December 17; 1830, April 20, December 17; 1831, April 16, December 1; 1832, April 25, December 21; 1833, April 19, Decem- ber 12; 1834, April 17, December 12; 1835, April 15, November 30; 1836, April 25, November 26; 1837, April 20, December 9; 1838, April 12, No- vember 25; 1839, April 20, December 16; 1840, April 20, December 9; 1841, April 24, November 30; 1842, April 20, November 28; 1843, May 1, November 30; 1844, April 18, November 26; 1845, April 15, November 29; 1846, April 16, November 25; 1847, May 1, November 30; 1848, May 1, December 9; 1849, May 1, December 5; 1850, April 22, December 11; 1851, April 15, De- cember 5; 1852, April 20, December 16; 1853, April 20, December 20; 1854, May 1, December 3; 1855, May I, December 10; 1856, May 5, December 4; 1857, May 6, December 15; 1858, April 28, De- cember 8; 1859, April 15, December 12; 1860, April 25, December 12; 1861, May I, December 10; 1862, May 1, December 10; 1863, May I, Decem- ber 9; 1864, April 30, December 8; 1865, May 1, December 12; 1866, May 1, December 12; 1867, May 6, December 20; 1868, May 4, December 7; 1869, May 6, December 10; 1870, May 10, De- cember 8; 1871, April 24, December 1; 1872, May 13, December 1; 1873, May 15, December 5; 1874, May 5, December 5; 1875, May 18, No- vember 30; 1876, May 4, December 1; 1877, May 8, December 7; 1878, April 15, December 7; 1879, April 8, December 6; 1880, April 16, November 21; 1881, May 12, December 8; 1882, April II, December 7; 1883, May 7, December 1; 1884, May 6, December 1; 1885, May 11, December I.

526

HISTORY OF THE COUNTY OF ALBANY.

ALBANY INSURANCE COMPANIES.

The Albany Insurance Company was incorpo- rated March 8, 1811, and authorized "to make all kinds of insurance against fire, upon the inland transportation of goods, wares and merchandise, marine insurance, and insurance upon life or lives, by way of tontine or otherwise, and generally to do and perform all matters and things relating to the said objects." The first Directors were Elisha Jen- kins, Philip S. Van Rensselaer, Isaiah Townsend, Dudley Walsh, Henry Guest, Jr., Charles Z. Platt, Simeon De Witt, Stephen Lush, Charles D. Coo- per, Thomas Gould, John Woodworth, Peter Gansevoort, and Christian Miller. The shares were $100 each and not to exceed 5,000 in number. Its duration was placed at twenty years. In 1828 the charter was extended to 1851, and the capital stock reduced from $500,000 to $300,000, and each share from $roo to $60.

The first President of this Company was Isaiah Townsend. He was succeeded, in 1844, by Teunis Van Vechten. Garret Y. Lansing, Rufus H. King, and Harmon Pumpelly were, in the order named, Presidents at different periods. J. Howard King, the present President, was elected in 1882.

The first Secretary was Gideon Hawley, who held the office for many years. He was succeeded by John E. Lovett, who held this position for four- teen years. In 1847 Stephen Groesbeck was elected, and was followed by Theodore Townsend, who is now Vice-President of the Company. The present Secretary is John E. McElroy.

This company has always been regarded as one of the best institutions of its kind in the State. Its affairs have been so conducted as to merit and retain public confidence. During an existence of three quarters of a century, it has had as directors and officers many of the best business men of Al- bany. During the years 1847 and 1848, the period of the greatest fire that ever visited this city, it paid out $367,000 in insurance in Albany and elsewhere without material injury to the company, a fact showing its financial solidity.

The Merchants' Insurance Company of Albany was incorporated April 7, 1824, with a capital stock of $250,000, to be divided into shares of $25 each. The first Directors were Allen Brown, James G. Mather, James B. Douglass, Ralph Pratt, Silvanus P. Jermain, Peter Bain, Jellis Winne, Jr., Thomas Herring, Spencer Stafford, Erastus Corn- ing, John Willard, William Fowler, William Mc- Harg, James Mabbett, John T. Norton, Ephraim Wilder, Jr., Friend Humphrey, Alexander Marvin, Nicholas Devereaux, Ephraim Hart, Eleazer Hills, Richard M. Bayley, Asa H. Center, Willard Warker, William Durant, Joshua Tuffs, David E. Evans, Thaddeus Joy, John Stillwell, Benjamin F. Butler, and Thomas W. Olcott.

The first President of this Company was Charles E. Dudley. He was succeeded by Russel Forsyth. John W. Ford was made Secretary. The exact length of time this company was in existence we were unable to learn, but in 1844 it was still doing business in this city.

The Clinton Insurance Company of Albany was incorporated May 4, 1829, with a capital stock of $300,000 in $100 shares. The first Directors were Francis Bloodgood, Isaac W. Staats, James McKoun, Oliver Kane, Peter Gansevoort, S. De Witt Bloodgood, William C. Miller, Samuel Pruyn, John B. Van Schaick, Richard Varick De Witt, Joshua J. King, William Seymour, Charles D. Townsend, Gerrit W. Ryckman, and Elihu Rus- sel. The duration of the charter was twenty-one years. Whether this company ever went into active operation we do not learn.

The Fireman's Insurance Company of Albany was incorporated April 23, 1831. The books for subscription were opened January 1, 1832, when $112,000 was subscribed in six hours. James Stevenson was its first President and Richard Van Rensselaer, Secretary. The first Directors were George J. Loomis, Enoch McCammen, James Ste- venson, Lansing Pruyn, Cornelius Vanderbilt, Harmanus S. Van Ingen, Dyer Lathrop, Lansing G. Taylor. Abraham F. Wilson, George Young, Thomas McElroy, Levi Silliman, Philo Booth, and Aaron V. Fryer. The same, with the exception of James Stevenson, were commissioners to receive subscriptions to the capital stock, which was fixed at $150,000 in 15,000 shares. Its charter was to run until June 1, 1861. January 18, 1849, the company was authorized, in order to make good the impairment of its capital occasioned by a fire on August 17, 1848, to call upon the stock- holders for such sums as would make the capital equal to the sum required in the charter. This it seems the stockholders were unable or unwilling to do, and business was in consequence suspended.

The Mutual Insurance Company of the City and County-office No. 446 Broadway. This com- pany was organized in 1836, under the General Insurance Law of the State of New York, on the mutual plan. The following gentlemen were the original incorporators: Barent P. Staats, Rufus Brown, Christopher Hepinsall, Eli Gould, James L'Amoreaux, Levi Phillips, Daniel Conklin, Jr., Eli Perry, Matthew Brown, John Hermans, Gay- lor Sheldon, and John Van Valkenburgh. The company insures for a small cash premium, receiv- ing from its patrons premium notes as additional payment. Its note capital now amounts to about half a million dollars. These notes are liable to assessment to pay fire losses in case all other assets are exhausted. The assets of the company, other than its premium notes, amount at this date to about $125,000, which is invested in United States Government bonds and real estate, beside cash on hand for immediate use in case of fire. In 1848 the charter of the company was amended by an act of the Legislature, granting the company the right to issue policies for a cash consideration only, and without a premium note. The present Board of Directors of the Company comprise some of the most prominent citizens of Albany, and are:

Henry H. Martin, John F. Rathbone, William McElroy, Daniel Weidman, George Cuyler, Ed- mund L. Judson. Archibald McClure, Edgar Cot- rell, Benjamin F. Baker, Daniel Leonard, George

527

BANKS AND BANKERS.

H. Treadwell, James M. Warner, and David A. Thompson.

The present officers of the company are: Presi- dent, Henry H. Martin (elected Director in 1846); Vice- President and Treasurer, George Cuy- ler (elected Treasurer in 1852); Secretary, George N. Cuyler (elected in 1872).

The Commerce, Insurance Company was organ- ized 1859, with a capital of $200,000. Its capital was increased to $400,000 in 1865, and reduced to $200,000 in 1871, because of losses in the great Chicago fire of that year.

The following are the officers since organization -- Presidents: Silas B. Hamilton, 1859-61; Adam Van Allen, 1861-84; Garret A. Van Allen, elected 1884. Vice-Presidents: Adam Van Allen, 1859- 61; Thomas Schuyler, 1861-66; Garret A. Van Allen, 1866-84; Chauncey P. Williams, 1884. Secretaries: Garret A. Van Allen, 1859; Robert M. Hamilton, 1866; Richard V. DeWitt, elected 1872. Present Officers: Garret A. Van Allen, President; Chauncey P. Williams, Vice-President; Richard V. DeWitt, Secretary.

The office of this company is at 57 State street, in the Commerce Insurance Building. It enjoys public confidence and patronage in a large degree. Since its organization it has paid over $2,500,000 of losses by fire.

The Albany City Insurance Company was organ- ized December 8, 1860, with a cash capital of $100,000. The office of this company was first located at 446 Broadway, afterward removed to the old Museum Building. The first President was William Tillinghast. In 1869 he was succeeded by John V. L. Pruyn. Colonel Frank Chamber- lain succeeded Mr. Pruyn in 1874. The first Sec- retary was John H. Rice, who was followed by W. A. Young in 1869, the latter remaining as such until 1874, when James F. Cassidy was elected. At the present time this company is not in exist- ence.

The Capitol City Insurance Company was incor- porated in 1865 with a capital of $200, oco. Frank Chamberlain was its first and only President. It was continued but a few years.

The Atlantic Mutual Life Insurance Company was incorporated in 1869. Robert H. Pruyn was elected President and Louis B. Smith, Secretary. In 1874 Walter Brown was made Secretary. Soon after 1874 it ceased to do business.

A great many first-class foreign insurance com- panies do business in Albany. The insurance agents and brokers generally are men of business, energy and integrity. Some of them are known among the leading men of Albany in most matters of public enterprise and interest.

THE ALBANY PROTECTIVES, OR INSURANCE PATROL.

This organization was effected April, 1872, and by act of Legislature incorporated March 20, 1873. First duty performed September 20, 1872.

This organization is supported entirely by the Albany Board of Underwriters, and is no expense to the City of Albany. They are looked upon by the citizens as indispensable, and by the Chief and

Fire Commissioners as a valuable auxiliary to the Fire Department.

They formerly occupied the premises No. 4 1 Hudson avenue, and for the first thirteen years were cramped for room, as no available location could be secured. In 1884 they leased from the Hon. Erastus Corning, 21 and 23 Howard street, and to-day they have a house second to none in the country. The Superintendent, Mr. J. N. Foster, has been with them since its organization, and Superintendent since 1874; previous to that time Assistant Superintendent, Mr. Thomas Austin being the chief officer up to 1874.

The company consists of eight men, seven men being on duty each night. They carry fire ex . tinguishers, rubber covers, brooms, scrapers, lan- terns, axes, ropes, ladders and other necessary ar- ticles for the extinguishment of fires. They have been known to have spread at one fire alone 36, 000 square feet of canvas, thereby saving a vast amount of property. They removed at one fire $70,000 worth of property, consisting of leather stock, and it is estimated by those interested that the patrol save many times their cost of running each year.

The present roll consists of the following: J. N. Foster, Superintendent; William Scheffler, E. J. Dayton, W. H. Kingsbury, James R. Melick, F. H. Weatherwax, B. E. Crehan, R. R. Coleman.

Officers of the Albany Board of Underwriters: A. Douw Lansing, President; Stephen L. Foster, Vice- President; A. E. Batchelder, Secretary; Frederick B. Hubbard, Treasurer.

BANKS AND BANKERS.

An account of the rise and progress of banking in- stitutions in Albany forms a very interesting chapter in the history of this city. Here the second bank chartered in the State and the fourth in the Union was established, and here have dwelt and operated many of the foremost bankers in the early history of this country. A history of the banking interests of Albany from 1792 to the present, shows the progressive strides in the city's trade, manufactures, and commerce made in nearly a century's growth.

For some time preceding the year 1792, the need of a banking institution for the northern part of the State was apparent to the capitalists of this section. In Albany the scheme was much discussed. A few had much faith in it, while many violently opposed the enterprise. On the 3d of February, 1792, a meeting was called at Lewis's Tavern to discuss the project. At this meeting were gathered the leading capitalists of Albany at that date. There was but one bank in the State, the Bank of New York, the stock of which was 50 per cent. above par. It was decided that the interests of the northern part of the State required the location of a bank at Albany. Some one writing for the news- papers at this period, confidently asserted that a hundred thousand dollars could be subscribed for the new project in the city alone; but it was liber- ally resolved that the neighboring places should be permitted to share in the honors and emolu-

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Bi-centennial history of Albany. History of the county of Albany, N. Y., from 1609 to 1886. With portraits, biographies and illustrations, Part 119

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888 Publication date: 1886 Publisher: New York, W. W. Munsell & Co. Number of Pages: 1452

Author: Howell, George Rogers, 1833-1899; Tenney, Jonathan, 1817-1888
Publication date: 1886
Publisher: New York, W. W. Munsell & Co.
Number of Pages: 1452